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I need to do an Empirical Project and am having a hard time coming up with ideas

ID: 3224571 • Letter: I

Question

I need to do an Empirical Project and am having a hard time coming up with ideas and getting the data for it. (I have ideas but then can’t find the data...)... Some suggestions on what topic and variables to use and where to get the data would be helpful. Just need to get started and I can do the rest. It's an Econometrics class. It can be any topic that I can find data on. Please don’t give me suggestions that require me to complete my own data. That’s a lot of extra work that is not required. I need suggestions that data is already available on the web. More than one suggestion would be nice.

Explanation / Answer

Data source: World Bank & govt websites of ministry of labour etc will do to collect the data as per desired frequency

Objective: decide the objective of the project work based on data availability. Such as:

1) Analysing the GDP growth with unemployment rate and other macroeconomic variables

2) Assessing the casulity between variables

3) Forecasting GDP etc

Analysis approach:

1) Explore the data using visuals such as histogram, line plot , scatter plot etc

2) Based on decided objective select the variables. Do the literature review for this.

3) Use regression , time series, VAR approaches

4) Write conclusion in simple language

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