As your business becomes more globalized, you have an increasing need to
follow and analyze international economic developments. However, the array of
international statistics representing international developments is bewildering at
best and completely misleading at worst. The availability and definitions of data
across countries is different, and the reliability of the data is often dubious.
The Workshop on tracking international macroeconomic data and
economies focuses on key economic and financial statistics to provide answers
to key questions such as:
- What data is out there?
The workshop will discuss the definitions of various data sets such as National Accounts and Balance of Payments. It will discuss the difference among concepts such as GDP, GNP, and GNI or between trade balance and current account balance.
- What is the significance of the data?
How are the various statistics compiled? What does each statistic tell us? Concepts such as seasonal adjustment and real and nominal quantities will be explained.
- How reliable is international data?
Statistics compiled by different countries are often not compiled in the same way. The workshop will discuss the reliability and quality of data.
- Is the meaning of economic indicators different across countries?
In 2005 the nationally reported unemployment rate in Germany was 11.7%, for the US it was 5.1%, for Japan it was 4.4% and in Spain it was 9.2%. Are these numbers comparable? The workshop will explain differences in definitions of commonly-used statistics such as the unemployment rate and the savings rate.
- How do I interpret and report economic statistics?
The reporting and interpretation of economic figures is more of an art than a science. As in any statistical exercise, the way economic figures are presented affects the clarity and the accuracy of the message conveyed. The workshop will demonstrate accepted techniques for interpreting and reporting economic data, including the different types of growth rates, ratios, and other concepts commonly used in economic literature and in the media.
- Where do I find international statistics?
Sources of international statistics are very poorly documented. One of the objectives of this workshop is to provide a handy reference of key international economic indicators, so that participants will know where to find them when they need them.
You may download the program for Tracking International Macroeconomic Data and Economies here (.doc).
To register, contact our headquarters.