Lesson 1Bureau of Economic Analysis (BEA): getting GDP data, real vs nominal GDP, quarterly annualization, revisionsLearn to access BEA GDP reports, tell nominal from real GDP, grasp quarterly growth rates that are annualized, and follow revisions over time to see how the economic story develops.
Finding your way on BEA GDP data sitesReal vs nominal GDP and price adjustersHow to calculate quarterly annualized growthParts of GDP and spending proportionsFollowing GDP changes over timeLesson 2Inflation data: CPI and PCE—meanings, core vs headline, differences in measuring, finding time seriesLook into CPI and PCE inflation ideas, headline against core measures, what they cover and how they weight things, and how to find, download, and explain official inflation series for economic and investment choices.
What CPI and PCE price indexes meanHeadline vs core: what's left out and whyHow measurements differ and where data comes fromFinding CPI and PCE series in FREDExplaining inflation patterns and ups and downsLesson 3International groups and checks: IMF and World Bank time series for background and matchingLearn how IMF and World Bank data add to national sources, how to get similar series across countries, and how to check levels, growth rates, and meanings to make sure things match in economic analysis.
IMF Data Portal and main macro datasetsWorld Bank WDI and searches by topicMatching country codes and unitsComparing series from different providersFinding mismatches and data breaksLesson 4Leading indicators data: ISM PMI, Conference Board LEI, consumer confidence indexes—where to get and how to useLook at main leading indicator data like ISM PMI, Conference Board LEI, and consumer confidence indexes, learn where to find them, how they are made, and how to use them to predict economic cycles.
ISM manufacturing and services PMIsParts of Conference Board LEIConsumer confidence and feeling indexesDiffusion indexes and key levelsUsing leading data in downturn modelsLesson 5Data quality, revisions, and how to cite sources with month/year (best ways)Build a careful way to check macro data quality, understand first reports against changed ones, track past revisions, and properly cite sources with month and year in professional work.
First reports vs changed macro dataUsual reasons for revisions and biasesUsing revision histories and versionsChecking notes and explanationsCiting data with date and source infoLesson 6Treasury market and yield curve data: 2y, 10y, and other lengths; calculating spreads and reading auction resultsLearn to get Treasury yield data for different lengths, work out key spreads like 2s10s, understand yield curve shapes, and read auction results for signs of demand, cash flow, and policy hopes.
Places for Treasury yield curve dataActive vs inactive securitiesCalculating 2s10s and other main spreadsUnderstanding curve getting steeper or flatterReading Treasury auction result tablesLesson 7Bureau of Labor Statistics (BLS): unemployment, payrolls, labour force participation, wage measures and seasonal patternsGet hands-on skills in accessing BLS labour market data, including unemployment, payrolls, participation, and wage measures, and learn how seasonal changes and survey methods affect understanding trends.
Household vs business surveysUnemployment rate and U-3 vs U-6Nonfarm payrolls and sector detailsLabour force participation and population groupsWage and earnings measures, seasonal impactsLesson 8FRED and other collectors: downloading series, changing frequency, basic smoothing and trend pullingLearn to use FRED and similar collectors to search, download, and change macro series, adjust how often data comes, apply easy smoothing and trend tools, and arrange data for graphs, comparisons, and basic investment work.
Searching and saving key macro seriesDownloading data in CSV and ExcelChanging data frequency and grouping methodsApplying moving averages and simple toolsUsing FRED graphs and custom boardsLesson 9Practical checklist: step-by-step guide to build the specific 12–24 month dataset needed for 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, ready for graphs and calculations.
Setting the case study time and rangePicking core macro and market variablesMatching frequencies and datesCleaning, naming, and saving the datasetMaking summary graphs and tablesLesson 10Federal Reserve releases and FOMC statements: how to find, read, and pull policy rate and guidanceLearn to find Federal Reserve stats releases, FOMC statements, and notes, pull policy rate paths and balance sheet data, and explain forward guidance words for economic and market analysis.
Main Fed releases and scheduleFinding FOMC statements and notesSpotting policy rate choices and pathsReading forward guidance wordsUsing SEP and dot plot info
