ECO-301: Milestone Two
ECO-301: Milestone Two Directions
The focus of this analysis involves analyzing key economic themes such as demand, production, cost, and market structure with quantitative techniques like regression analysis and linear programming for a specific company. For purposes of this project you will select a product or service with substantial data.
Some possible topics: unemployment and crime, exports and underdeveloped countries, demand/supply of higher education, air pollution and population, etc.
You will formulate an introduction and problem statement and collect data sources.
- Introduction and Statement of Problem
- Introduction and Statement of Problem: What problem are you trying to solve? This is where you would discuss key information; why the issue/problem is important, sources of data you plan to use, estimation procedure you will use, variables, assumptions, weaknesses of data, etc. (Some possible topics: unemployment and crime, exports and underdeveloped countries, demand/supply of higher education, air pollution and population, etc. )
- Introduce and describe the product or service being evaluated. Why the issue/problem is important
- Model Formation: This refers to the model, hypothesis, or theoretical framework that will be used to explain and/or forecast some variables. In the usual case, the model will be in the form of functional equations. QD = f(P, Y, …)