Analyzing Okun’s Law in Business-as-Usual Scenario

inEconomics

Background

Okun’s Law is an empirically observed relationship between unemployment and the production output of a country. It predicts that a 1% increase in unemployment is typically associated with a 2% drop in gross domestic product (GDP). This study aims to explore the effect of unemployment on GDP in a business-as-usual scenario, considering changing patterns in jobs, technology, and consumer demand

Learning Outcome

  • LO #1: Understand the theory behind Okun’s Law and its role in connecting the labor market with economic performance.
  • LO #2: Understand the role of autoregressive and other models in economic forecasting by analyzing the interaction between unemployment rates and GDP.

What is on offer?

  • 1-on-1 sessions with Ph.D. Scholars
  • Supervision and Guidance from Global Faculty
  • Assistance in Publishing Research
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