Your objective is to compare two related economic variables and see if you can identify a relationship between them. You should first look at the variables separately, then in relationship to each other.
- You will select two related economic variables that you have studied during the relevant weeks;
- Find appropriate data on both variables;
- Present that data in a clear graphic or tabular form (or both if appropriate);
- Explain what the data shows - discuss/explain the data;
- Explain what the data means - give meaning to what the data shows; and.
- And explain why it matters - what is the economic importance or usefulness of what you found in your data analysis and discussion.
Points 4 and 5 initially seem to be about the same thing and they are close in meaning. Point 4 is the process of walking the reader through the data presented in the table or graphic. Point 5 is explaining to the reader what that data means. In other words, tell the reader what the data is and explain what it means. Remember this is a process of giving meaning to data. Standing alone, data is just numbers. Your task is to give those numbers a context and a meaning that converts numbers into information.