ECO 100 WK 9 The Automobile Industry Macroeconomic Variables Essay

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ECO 100 WK 9 The Automobile Industry Macroeconomic Variables Essay

 

For this assignment, you can use the same industry you selected for the Week 3 assignment (Automobile Industry) or you can select another industry.

  • Prepare a 2–3 page final report in which you examine one of the macroeconomic variables below:
    • Real Gross Domestic Product (GDP).
    • The unemployment rate.
    • The inflation rate.

Instructions

  • Visit the Census Bureau (NAICS) website and select an industry that has a description. Some of the smaller industries are named, but not described.
    • The industry could be broad, such as industry 11 Agriculture, Forestry, Fishing and Hunting, or it could be narrow, such as industry 112112 Cattle Feedlots.
      • The more digits in the industry label, the narrower the industry.

In a few short paragraphs:

  1. Describe your selected industry using the industry description at the NAICS website. Be sure to write in your own words. Don’t just copy and paste the NAICS text.
    • Identify some of the major companies in this industry. You will probably have to do a Google search for this information. For example, you could search for “Biggest U.S. Cattle Feedlots.
    • Identify the goods, and/or services this industry produces. Use the information from the NAICS website. You can supplement this information with what you find in a separate Google search.
  2. Select one of three macroeconomic variables (real GDP, the unemployment rate, or the inflation rate) that a business person in your chosen industry should monitor, and explain why that variable is important and how it might have an impact on your selected industry.
  3. Describe in a sentence or two the important movements of the variable in the table and graph.
    • Excel tables and graphs are attached for each of the three macroeconomic variables (real GDP, the unemployment rate, and the inflation rate)
    • Review the Excel table and graph for the macroeconomic variable that you chose.
  4. Summarize how you think this industry will perform in the future.
    • Be sure to provide support for your prediction of this future industry performance.
  5. Your report should include a minimum of two references/citations in the text

Resources to Complete the Assignment