Choose a microeconomic variable for your industry.

Economics by Geoffrey

Week 3 Assignment – Microeconomics Case Study

Instructions

In this exercise, you will demonstrate your ability to find microeconomic data from public sources and to make a spreadsheet in Excel. You are required to use Statista to complete your research.

Microeconomic data are numbers about a single industry. Automobile sales numbers are microeconomic data. Unemployment numbers for the entire country are not microeconomic data.

  1. Start by choosing an industry that interests you.
    • Remember that an industry is a group of companies that do the same thing. For example, Ford is a company; automobile manufacturing is an industry.
  2. Choose a microeconomic variable for your industry.
    • It could be prices, sales, production, advertising, or investment.
  3. Using the library’s Statista resource, find three years of this microeconomic variable for your industry. For example, you might find automobile, real estate, food or paper sales data for 2019, 2020, and 2021.
    • Go to Statista.
    • Log in using your Strayer credentials.
    • Type your industry name in the “Statista Search” space and click Statista Search.
    • Choose one of the options that has three years of annual data.
  4. Prepare an Excel spreadsheet that has two columns and four rows. In cell A1, type in the industry you selected and bold the text. In the heading for cell A2, type “Year.” In cells A3, A4, and A5 descending below this heading, type the years for your data. In the automobile example, this would be 2017, 2018, and 2019.
  5. In the heading for column two, cell B2, type the name of the variable you chose. For example, it could be “Sales.” In the cells below this heading, type the sales data for each of the three years.
  6. Underneath your table, type “Source:” and then paste the URL of the source where you found your data.
  7. See the Excel example below.
Resources to Complete the Assignment