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Okun's Law: Unemployment/GDP

  • 03-03-2011 8:58pm
    #1
    Eire-Dearg
    Registered Users, Registered Users 2 Posts: 8,900 ✭✭✭


    Hello,

    I'm working on a project for my Economics module and am stuck on Okun's Law.

    I have been asked to show the scatter plot of the change in unemployment against the real growth rate and insert the “line of best fit”.

    That is all done, however the next part has left me baffled:
    "Estimate Okun’s Law and present the empirical results in a table and on the graph."

    Is Okun's Law the equation that results from the linear trendline?

    And by 'empirical results in a table', is that simply the stats I originally used to compile the scatter chart?

    I must then comment on the relationship between the two, which has also left me scratching my head!

    Any help is greatly appreciated.


Comments

  • #2
    Slugs
    Registered Users, Registered Users 2 Posts: 1,282 ✭✭✭Slugs


    I'm in the same boat as you mate, though I'm looking for the Marginal efficiency of investment... Why did I leave it so late :'(

    The commentary is just commentating on what happened... I'm assuming it's to make sure we can actually understand the data rather then just copypasta everything...


  • #3
    Eire-Dearg
    Registered Users, Registered Users 2 Posts: 8,900 ✭✭✭Eire-Dearg


    Slugs wrote: »
    The commentary is just commentating on what happened... I'm assuming it's to make sure we can actually understand the data rather then just copypasta everything...

    Errrrr.......... :pac:


  • #4
    Slugs
    Registered Users, Registered Users 2 Posts: 1,282 ✭✭✭Slugs


    Pm sent


  • #5
    courtz06
    Closed Accounts Posts: 1 ✭courtz06


    please help i have got the exact same question in my assignment

    any ideas on how to answer it im stuck


  • #6
    andrew
    Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 3,372 Mod ✭✭✭✭andrew


    courtz06 wrote: »
    please help i have got the exact same question in my assignment

    any ideas on how to answer it im stuck

    Have you read the Wiki page on Okun's law? Which bit specifically are you stuck with?


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