Lesson 1Bureau of Economic Analysis (BEA): accessing GDP data, real vs nominal GDP, quarterly annualization, revisionsLearn how to get BEA GDP reports, tell nominal from real GDP, grasp quarterly growth rates that are annualised, and follow changes over time to assess the changing macro story.
Navigating BEA GDP data portalsReal vs nominal GDP and deflatorsQuarterly annualized growth calculationsGDP components and expenditure sharesTracking GDP revisions over timeLesson 2Inflation datasets: CPI and PCE—definitions, core vs headline, measurement differences, locating time seriesLook into CPI and PCE inflation ideas, headline against core measures, differences in coverage and weights, and how to find, download, and explain official inflation series for macro and investment choices.
Definitions of CPI and PCE price indexesHeadline vs core: what is excluded and whyMeasurement differences and data sourcesLocating CPI and PCE series in FREDInterpreting inflation trends and volatilityLesson 3International organizations and cross-checks: IMF and World Bank time series for context and consistencyUnderstand how IMF and World Bank data support national sources, how to get similar cross-country series, and how to check levels, growth rates, and meanings to keep macro analysis steady.
IMF Data Portal and key macro datasetsWorld Bank WDI and topic‑based searchesHarmonizing country codes and unitsComparing series across multiple providersSpotting inconsistencies and data breaksLesson 4Leading indicators databases: ISM PMI, Conference Board LEI, consumer confidence indices—where to find and how to useLook at main leading indicator sets like ISM PMI, Conference Board LEI, and consumer confidence, learning where to get them, how they are made, and how to use them for predicting cycles.
ISM manufacturing and services PMIsConference Board LEI componentsConsumer confidence and sentiment indexesDiffusion indexes and threshold levelsUsing leading data in recession modelsLesson 5Data quality, revisions, and how to cite sources with month/year (best practices)Build a steady way to judge macro data quality, know first releases against changed ones, track past changes, and properly note sources with month and year in professional work.
First releases vs revised macro dataCommon sources of revisions and biasesUsing revision histories and vintagesChecking documentation and footnotesCiting data with date and source detailsLesson 6Treasury market and yield curve data: 2y, 10y, and other maturities; calculating spreads and reading auction resultsLearn to get Treasury yield data for different times, work out key spreads like 2s10s, read yield curve shapes, and check auction outcomes for signs of demand, liquidity, and policy hopes.
Sources for Treasury yield curve dataOn‑the‑run vs off‑the‑run securitiesCalculating 2s10s and other key spreadsInterpreting curve steepening and inversionReading Treasury auction result tablesLesson 7Bureau of Labor Statistics (BLS): unemployment, payrolls, labor force participation, wage measures and seasonalityGet hands-on skills in reaching BLS labour market data, covering unemployment, payrolls, participation, and wage measures, and see how seasonal fixes and survey setups change trend readings.
Household vs establishment surveysUnemployment rate and U‑3 vs U‑6Nonfarm payrolls and sector breakdownsLabor force participation and demographicsWage and earnings measures, seasonal effectsLesson 8FRED and other aggregators: downloading series, frequency conversion, basic smoothing and trend extractionLearn to use FRED and like tools to search, download, and change macro series, adjust times, use basic smoothing and trend filters, and sort data for charts, comparisons, and simple investment work.
Searching and bookmarking key macro seriesDownloading data in CSV and Excel formatsChanging data frequency and aggregation methodsApplying moving averages and simple filtersUsing FRED graphs and custom dashboardsLesson 9Practical checklist: step-by-step guide to assemble the specific 12–24 month dataset required by the case study (GDP, unemployment, inflation, policy rate, yield curve, one leading indicator)Follow a planned way to make a 12–24 month macro dataset for a case study, including GDP, unemployment, inflation, policy rates, yield curve spreads, and one leading indicator, set for charts and regressions.
Defining the case study horizon and scopeSelecting core macro and market variablesAligning frequencies and calendar datesCleaning, labeling, and storing the datasetCreating summary charts and tablesLesson 10Federal Reserve releases and FOMC statements: how to find, read, and extract policy rate and guidanceLearn to find Federal Reserve stats releases, FOMC statements, and notes, pull policy rate paths and balance sheet data, and read forward guidance words for macro and market work.
Key Fed releases and publication calendarFinding FOMC statements and minutesIdentifying policy rate decisions and pathsReading forward guidance languageUsing SEP and dot plot information
