Forecasting the Economy
- Synopsis
- Introduces the nature of economic modelling and forecasting focusing particularly on empirical macroeconomic modelling - a term used to describe analysis at the level of the economy as a whole or the aggregate economy. Also looks at the development of macroeconomic forecasting in Britain since World War 2. There is a brief reference to the Phillips machine, then discussion of the development of macro models in the Treasury, the National Institute of Economic and Social Research and the London Business School. Raises questions about the success of the models’ forecasts and the nature of forecasting and its future. Discusses and illustrates comparisons with weather forecasting and with other scientific methods. Examines some of the problems associated with econometric modelling - modelling using statistical techniques.
- Series
- Economics and Changing Economies, Course D216
- Language
- English
- Country
- Great Britain
- Medium
- Video; Videocassette. Standard formats. col. 24 min.
- Year of production
- 1995
- Availability
- Off-air recording licence
Sale; 1998 sale: £145.00 (+VAT +p&p) - Subjects
- Economics
- Keywords
- economic forecasting; modelling - economic
Credits
- Producer
- Alison Tucker
- Cast
Maureen Mackintosh
Production Company
Distributor
- Name
Open University Worldwide
- Web
- http://www.ouw.co.uk External site opens in new window
- Phone
- +44 (0) 1908 274066
- Address
- Walton Hall
Milton Keynes
MK7 6AA - Notes
- NB. As of May 2016 Open University Worldwide are no longer distributing DVDs. They have posted this message on their website: ‘Unfortunately Open University Worldwide Limited has decided that product sales are no longer viable given the reduced funding to Higher Education institutions and diminishing demand for the products we have traditionally stocked. At present the Open University Students Association (OUSA) will continue to sell the "Good Study Guide", and we are in discussion with other possible distributors to continue to make The Open University’s products available for purchase. As soon as we have any information on other channels of distribution we will update this notice’. Some products are still available via second hand dealers on Amazon.co.uk
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