Lesson 5 Quantitative Analysis (Economics)
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| Economic Base Analysis | Looks at basic and non-basic economic activities
To identify economic base industries, a location quotient is calculated for each industry
Total = basic + non-basic
🗑
|
||||
| Basic Activities | Those that can be exported
Brings in money from outside
🗑
|
||||
| Non-Basic Activities | Those that are locally oriented
Local/service, recirculates the outside money
🗑
|
||||
| Location Quotient | Ratio of an industry's share of local employment divided by its share of the nation
< 1 indicates an importing economy
>1 indicates an exporting economy
🗑
|
||||
| Shift-Share Analysis | Analyzes a local economy in comparison with a larger economy
Looks at differential, proportional shift and economic growth
Uses employment information by sector for two points in time
🗑
|
||||
| Input-Output Analysis | Quantitative method that links suppliers and purchasers to determine the economic output of a region
Uses an economy's structure to determine the economy in the future
Analysis requires a very high quantity of data
🗑
|
||||
| Depreciation | Allocating the cost of a tangible asset over its useful life
🗑
|
||||
| Acquisition Cost | The cost that a company recognizes on its books for property or equipment after adjusting for discounts, incentives, closing costs, and other necessary expenditures
🗑
|
||||
| Fair Market Value | Selling price for an item to which a buyer and seller can agree
🗑
|
||||
| North American Industry Classification System (NAICS) | Standard used by the federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data about the US economy
🗑
|
||||
| Data Sources | Census.gov (county business patterns & employment by sector)
bea.gov (bureau of economic analysis & regional economic data)
lehd.ces.census.gov/research (longitudinal employer - household dynamics & micro-data)
🗑
|
||||
| Economic Analytical Methods Used in Planning | Economic base analysis
Location Quotient
Shift-share analysis
Input-Output Analysis Economic Models
🗑
|
||||
| Main Principals of Economic Analysis | Follow money/jobs
Direct and Indirect Effects (multiplier analysis)
Economic Impact Analysis (cost-benefit analysis)
🗑
|
||||
| Economic Base Multiplier | Multiplier = total/basic
The indirect effect of $1 additional basic (direct) activity on the economy
🗑
|
||||
| General Equilibrium Model of an Economy (Leontieff) | Starts as a accounting device
Total population = intermediate production + final demand
🗑
|
||||
| Input-Output Tables | Transaction tables = inter-industry flows (who buys from whom)
Technical Coefficients table = proportion of inputs
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
amshinn18
Popular Miscellaneous sets