K E Y
T E R M S
Data File: a file in which datasets are stored
There are many formats but the universal format for data files is the text format because
it can be read by all software
○
•
Dataset: a collection of observed variables
•
Missing Values: they are missing observations in a dataset
In a data file, missing values are often represented by special characters
○
•
Text File: it is a non formatted file that can be opened by any text editor
Most common extensions are ".txt" and ".csv"
○
•
Time Series: it is a variable that we observe on a regular basis at different points in time
e.g. the temperature in Toronto
○
•
Variable: it is the general term used when we refer to measures
e.g. inflation, unemployment rate, temperature, CO2 emission
○
•
W H A T
IS
M A C R O E C O N O M I C S ?
Macroeconomics is the study of the economy as a whole
•
It is difficult because it needs to draw from all branches of economics in order to...
Understand microeconomics decisions
○
The aggregation of individual behaviour
○
The link between theory and data
○
The design of government policy
○
•
D A T A
M A N I P U L A T I O N:
LOADING THE DATA
Types of File
".txt" Extension - usually stores data by separating columns using spaces
○
".csv" Format - this is the most common text format used by data agencies; every
column is separated by a comma
○
•
Macroeconomics
September 8, 2020
10:29 AM
Module Three Page 1
