CONTEXT
For one of my Economics assessments, I had to analyse a variety of complex information concerning the consumption of people in Britain of the 1980’s and 1990’s. The question set was “Why have empirical models of the UK aggregate consumer spending failed to predict the boom and bust cycles of the 1980’s and 1990’s?”
ACTION
I researched a lot of books, journals and seminal papers to draw a conclusion. I also had to analyse a lot of data and used my strong Excel skills to construct a detailed spreadsheet to aid my analysis. In brief, my answer was that it is not possible to accurately predict, using empirical models, the complex activity of consumption.
RESULT
My extensive research and analysis of the subject was awarded a First Class Honours.