The Economist Guide To Economic Indicators Hardcover – 20 Feb 2003
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Making sense of Economics --This text refers to an out of print or unavailable edition of this title.
From the Inside Flap
Success in today's global business environment requires a thorough knowledge of important economic figures and a firm grasp of their meaning. Now, The Economist Guide to Economic Indicators provides you with a detailed road map of all the major--and many of the less well-known--indicators that exist worldwide. Economic indicators provide invaluable insights into how different economies and different markets are performing, enabling practitioners to adjust their investment strategies in order to achieve the best return. However, in order to make the right decisions, you must know how to interpret the relevant indicators. The Economist Guide to Economic Indicators enables you to read--and use--indicators accurately and effectively. Covering approximately 100 indicators--including GDP, population, exchange rates, disposable income, public expenditure, and bond yields--this practical resource explains exactly what they are, why they are significant, where and when they're published, and how reliable they are. Perhaps most importantly, the Guide shows you how to interpret these indicators correctly, providing straightforward guidelines through which you can distill such vital information as start and end points for changes, inflational influences, time frames, and yardsticks for judging future trends. Organized to highlight linkages and aid interpretation, and incorporating data for the fifteen largest industrial countries, this concise, accessible guide is essential for anyone eager to be brought up to speed on these key economic measurements. --This text refers to an out of print or unavailable edition of this title.See all Product description
Top customer reviews
Reading this book won't make you an expert in econometrics (nor, for that matter, would reading any number of econometrics texts :-O). Nevertheless, knowledge of what it says together with the economic data published by The Economist newspaper, would have enabled a reasonably numerate person to see much of the current economic crisis coming.
My only gripe about it is that titles in this series are pretty expensive for what they are and that readers would be better served by decent and cheaper paperback editions.
Page 13 "Any series of numbers, as described below for the constant price series in Table 2.2 column E." So I carry out the calculations as described and check it against Table 2.2 on p14 and instead of getting the constant price series/index, I get the current price series/index.
For example, the current price in Table 2.2, column A for 2005 is 12,638.4. Divide this by 100 to get 126.38. The current price for 2007 is 14,077.6. So dividing the 14,077.6 by 126.38 gives 111.4, which is labeled as the "current price index" in table 2.2 and not the "constant price index."
So which is correct; did I work out the constant price index or the current price index????
I do not know much about this stuff which is why I bought this book, and with simple errors like this, how can I trust the rest of the text? And to think that this is the seventh edition!!!!
I wonder if the Economist would like to volunteer a comment here, preferably with a commitment that they will proof read the text and send out a new copy to all those who have purchased the book with errors corrected.
Most helpful customer reviews on Amazon.com
In fact the book is more a reference tool for things TV reporters and journalists refer to, to support their theories. I found it insightful and will keep coming back to this book when I need an explanation of these indicators. It probably is essential for students and a good starting point for others.
Some examples: "In the long term, the growth in economic output depends on the number of people working and output per worker (productivity)" (Page 41); Or "In general, the more optimistic consumers are, the more likely they are to spend money. This boosts consumer spending and economic output" (Page 93)...
...One begins to yearn for the days where economics was more of an explanatory and less a mathematical science.
The guide is divided into a number of chapters discussing issues and examples related to
- How economic activity is calculated, and what the main indicators GDP/GNP/NNI capture and do not capture, as well as what changes in these indicators or their components mean.
- Employment indicators such as employment by sector or the unemployment rate
- Balance of payments and fiscal indicators, such as tax revenue or budget deficit
- Consumer indicators, such as disposable income or consumer confidence and their significance
- Investment and savings indicators, such as investment intentions or sales/inventory ratios
- Business indicators, including business conditions, auto sales, construction orders and other common stats
- Exchange rates and financial market indicators, such as interest rates and money supply.
- Prices and wages, like the effect of oil price changes, among others
Coverage of the most common and widely available indicators is fairly comprehensive. Given the simplicity of the book, it is better to have a certain level of economic knowledge and opinion to be able to put the content in context. Not much different to reading The Economist, really.
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