The Information Creation Process: Data Sources and Data Aggregators
Students will examine and interact with two economic data websites—FRED®, of the Federal Reserve Bank of St. Louis, and the Bureau of Economic Analysis (BEA)—to develop their understanding of the information creation process. They will learn about differences between data aggregators and data sources and the capabilities and constraints of each in presenting economic data. Students will examine in detail gross domestic product (GDP) data.
Objectives of this lesson:
Students will be able to
- articulate the differences, capabilities, and constraints of using an economic data source versus an economic data aggregator to understand content; and
- create, edit, and share a FRED® graph comparing GDP and several components of GDP.
How do economic data aggregators differ from economic data sources?
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