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Christ Raharja

Welcome to Macroeconomic Analysis: Investigating Inflation Trend with R course. This is a comprehensive data analysis course where you will be guided step by step on how to perform complex data analysis and visualisation on inflation data using R programming language. This course is a perfect combination of macroeconomics and statistics as you will learn all things about inflation from both perspectives. In the introduction session, you will learn basic fundamentals of R programming language, such as getting to know its use cases and features that R has but Python does not have. Then, continue by learning the basic fundamentals of macroeconomics and inflation, using case study examples to understand inflation better as well as getting to know factors that cause inflation. Afterward, you will also learn how to calculate inflation rate and interest rate as well as understanding the relationship between both of them, especially why in most cases raising the interest rate can help to lower the inflation rate. Before starting the project, you will be guided step by step on how to set up all necessary tools, such as installing R programming language and R Studio which is the IDE that will be used in our project. Meanwhile, for the data source, we are going to get our datasets from Kaggle which is one of the largest data science learning platforms that has a lot of datasets that can be downloaded for free. In the project section, you are going to be conducting analysis and visualisation on two different datasets from Kaggle. At the end of the project, you are also going to learn how to deliver data insights and summaries which highlight all your findings during the project. Last but not least, at the end of the course, we will also go over several solutions that can be implemented to lower inflation rate like effective monetary policy, cutting of unnecessary government spending, and fiscal responsibility.

Read more

Welcome to Macroeconomic Analysis: Investigating Inflation Trend with R course. This is a comprehensive data analysis course where you will be guided step by step on how to perform complex data analysis and visualisation on inflation data using R programming language. This course is a perfect combination of macroeconomics and statistics as you will learn all things about inflation from both perspectives. In the introduction session, you will learn basic fundamentals of R programming language, such as getting to know its use cases and features that R has but Python does not have. Then, continue by learning the basic fundamentals of macroeconomics and inflation, using case study examples to understand inflation better as well as getting to know factors that cause inflation. Afterward, you will also learn how to calculate inflation rate and interest rate as well as understanding the relationship between both of them, especially why in most cases raising the interest rate can help to lower the inflation rate. Before starting the project, you will be guided step by step on how to set up all necessary tools, such as installing R programming language and R Studio which is the IDE that will be used in our project. Meanwhile, for the data source, we are going to get our datasets from Kaggle which is one of the largest data science learning platforms that has a lot of datasets that can be downloaded for free. In the project section, you are going to be conducting analysis and visualisation on two different datasets from Kaggle. At the end of the project, you are also going to learn how to deliver data insights and summaries which highlight all your findings during the project. Last but not least, at the end of the course, we will also go over several solutions that can be implemented to lower inflation rate like effective monetary policy, cutting of unnecessary government spending, and fiscal responsibility.

First of all, before getting into the course, we need to ask ourselves these questions. Why should we learn about inflation? Why should we analyze inflation data using the R programming language? Well, let me ask you this question first, have you ever asked yourself, why a cup of coffee that cost two dollars five years ago but now the same product with the same quality costs three dollars? Or maybe why a gaming desk cost you a hundred dollars three years ago but today the same product from the same brand costs you two hundred dollars. Well, those are a few examples of inflation in real life where your cash today is no longer as valuable as it used to be a couple years ago and you might be wondering why? Well inflation reduces a currency’s purchasing power as what we discussed in the previous example where two dollars could buy you a cup of coffee five years ago but today you need three dollars. There are many factors out there that can potentially cause inflation however the most common factor is the oversupply of cash where there is more cash in the circulation than the actual demand. Let me give you an example, let’s say there is an island with population of a thousand people and there are only a hundred coins in the circulation, obviously in this case, the coin is very valuable as they are a thousand people who want to get those coins but there are only a hundred coins available but what if I told you the island’s ministry of treasury decided to create nine hundred more coins, so now there are a thousand coins in the circulation, obviously, now the value of one coin is definitely not as valuable as it used to be. Hence, what we are going to do in this course is to use data to investigate inflation patterns as well as forecast the inflation rate in the future based on the historical data.

Below are things that you can expect to learn from the course:

  • Learn basic fundamentals of macroeconomics and inflation, such as getting to know factors that cause inflation and example of inflation in real life

  • Learn basic fundamentals of R programming language and getting to know its use cases

  • Learn how to calculate inflation and interest rate

  • Learn how high interest impacts the market from several perspectives, such as cost of borrowing, consumer spending, real estate market and stock market

  • Learn how to find and download datasets from Kaggle

  • Learn how to upload and import data to RStudio Cloud

  • Learn how to clean data and remove all NA values from dataset using R

  • Learn how to find countries with highest inflation rate using R

  • Learn how to visualize inflation data for a specific country using scatter plot in R

  • Investigate inflation trend in 2008 economic crisis using R

  • Learn how to compare inflation between two countries using R

  • Learn how to forecast future inflation using R

  • Learn how to find correlation between inflation and interest rate, then, visualise the correlation using scatter plot

  • Learn how to find correlation between inflation and unemployment rate, then, visualise the correlation using scatter plot

  • Learn several policies that can be implemented to lower inflation rate

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What's inside

Learning objectives

  • Learn basic fundamentals of macroeconomics and inflation, such as getting to know factors that cause inflation and example of inflation in real life
  • Learn how to forecast future inflation based on historical data using r
  • Learn how to find correlation between inflation and interest rate, then, visualise the correlation using scatter plot
  • Learn how to find correlation between inflation and unemployment rate, then, visualise the correlation using scatter plot
  • Learn how to visualise inflation data for a specific country using scatter plot in r
  • Learn how to compare inflation between two countries using r
  • Investigate inflation trend in 2008 economic crisis using r
  • Learn how to clean data and remove all na values from dataset using r
  • Learn how to find countries with highest inflation rate using r
  • Learn how to download dataset from kaggle and import it to r studio cloud

Syllabus

Getting to know the general overview of the course and things that you can expect to learn from this course
Introduction to the Course
Highlight of the Course
Read more
Whom This Course is Intended for?
Getting to know programming language, IDE, and datasets that will be utilised in the project
Tools, IDE, and Datasets
Learning the basic fundamentals of R programming language and getting to know its common use cases
Introduction to R
Learning basic fundamentals of macroeconomics and inflation, such as getting to know factors that cause inflation and example of inflation in real life
Introduction to Macroeconomics & Inflation
Learning how to calculate inflation and interest rate using Fisher equation
Calculating Inflation Rate
Calculating Interest Rate
Learn how high interest impacts the market from several perspectives, such as cost of borrowing, consumer spending, real estate market and stock market
How High Interest Rate Impacts the Market?
Full step by step tutorial on how to install and set up R Studio IDE
Installing R Studio
Setting Up R Studio Cloud
Learning how to find and download datasets from Kaggle
Downloading Inflation Datasets From Kaggle
Finding top countries with the highest inflation rate, visualising inflation data with scatterplot in R, investigating 2008 crisis, comparing inflation between two countries, and forecasting inflation
Importing Global Inflation Dataset
Quick Overview of Dataset 1
Finding Countries with Highest Inflation Rates
Visualising Inflation Data with Scatter Plot
Investigating Inflation Trend in 2008 Economic Crisis
Comparing Inflation Between Two Countries
Forecasting Future Inflation Based on Historical Data
Learning how to find correlation between inflation and interest rate and correlation between inflation and unemployment rate as well as visualising those correlations using scatter plot
Importing Inflation Interest Unemployment Rate Dataset
Quick Overview of Dataset 2
Cleaning Data & Removing NA Values
Finding Correlation Between Inflation & Interest Rate
Visualising Correlation Between Inflation & Interest Rate with Scatter Plot
Finding Correlation Between Inflation & Unemployment Rate
Visualising Correlation Between Inflation & Unemployment Rate with Scatter Plot
Learn several policies that can be implemented to lower inflation rate
Solutions to Lower Inflation Rate
Summarising all things that we've learnt so far and sharing few key takeaways on how to be a better analyst
Conclusion & Summary

Good to know

Know what's good
, what to watch for
, and possible dealbreakers
Explores inflation-related concepts from both macroeconomic and statistical perspectives, catering to individuals interested in both fields
Taught by instructors with expertise in economics and data analysis, enhancing credibility and industry relevance
Provides a guided approach to data analysis and visualization, making it suitable for both beginners and those seeking to enhance their skills
Incorporates R programming language, which is widely used in data science and economics, offering practical industry skills
Covers essential topics in macroeconomics and inflation, providing a solid foundation for understanding economic principles
Emphasizes hands-on application through data analysis and visualization exercises, reinforcing learning and developing practical skills

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Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Macroeconomic Analysis: Investigating Inflation Trend with R with these activities:
Create a glossary of inflation-related terms
Improves understanding of key inflation-related vocabulary and concepts.
Show steps
  • Identify and compile a list of inflation-related terms
  • Define and explain each term
  • Share your glossary with others
Read a book on inflation
Provides a comprehensive overview of inflation and its impact on the economy.
Show steps
  • Find a book on inflation
  • Read the book
  • Summarize the key concepts and ideas from the book
Attend a workshop on inflation
Provides an opportunity to learn from experts, network with professionals, and gain hands-on experience.
Show steps
  • Research and find workshops on inflation
  • Attend a workshop and engage with experts and other attendees
  • Apply what you learned from the workshop to your studies and career
Four other activities
Expand to see all activities and additional details
Show all seven activities
Join a study group on inflation
Provides opportunities for collaboration, peer learning, and diverse perspectives on inflation.
Show steps
  • Find a study group or create your own
  • Meet regularly to discuss course materials, review concepts, and solve problems
  • Share resources and support each other
Practice inflation calculations
Develops a deeper understanding of inflation calculations and their applications.
Show steps
  • Gather data on inflation rates, interest rates, and other economic indicators
  • Use formulas to calculate inflation rates, interest rates, and other economic indicators
  • Compare your calculations to published data to check your accuracy
Create an infographic on inflation
Improves data analysis skills and provides a creative way to synthesize and communicate knowledge about inflation.
Show steps
  • Gather data on inflation rates, interest rates, and other economic indicators
  • Create a visual representation of the data using graphs, charts, and other visuals
  • Write a brief summary of the data and its implications
  • Share your infographic with others
Contribute to an open-source project on inflation
Involves practical application of knowledge, promotes collaboration, and provides valuable experience in the field.
Show steps
  • Find an open-source project related to inflation
  • Identify an area where you can contribute
  • Make a pull request with your changes

Career center

Learners who complete Macroeconomic Analysis: Investigating Inflation Trend with R will develop knowledge and skills that may be useful to these careers:
Data Analyst
Data Analysts leverage data to extract meaningful insights on consumer behavior, financial markets, and economic policies through the use of mathematics, statistics, computer science, and programming. This course introduces the fundamentals of R programming, enabling you to clean, analyze and visualize inflation data to identify trends and patterns. Understanding how economic indicators like inflation affect consumer spending, business investments, and government policies can greatly assist you in providing actionable recommendations to stakeholders and informing decision-making.
Financial Analyst
Financial Analysts research economic and financial data to provide insights and make recommendations for investment decisions. The course provides a comprehensive overview of inflation and its impact on interest rates, stock market performance, and consumer spending behavior. By learning how to analyze inflation data using R programming, you can gain a competitive advantage in evaluating financial instruments, assessing risk, and making informed investment decisions.
Economist
Economists analyze economic data to understand and predict economic trends, advise governments and businesses, and develop policies to address economic issues. This course provides a solid foundation in macroeconomic analysis, inflation dynamics, and the use of R programming for data analysis. By gaining expertise in these areas, you can enhance your ability to forecast economic conditions, evaluate economic policies, and contribute to informed decision-making.
Actuary
Actuaries use mathematical and statistical techniques to assess risk and uncertainty in various fields, including insurance, finance, and healthcare. The course provides a strong foundation in data analysis and forecasting, which are essential skills for Actuaries. By learning how to analyze inflation data using R programming, you can enhance your ability to model financial risks, calculate insurance premiums, and make informed decisions in the face of economic uncertainty.
Market Researcher
Market Researchers analyze market data to understand consumer behavior, identify trends, and develop marketing strategies. This course provides a comprehensive overview of inflation and its impact on consumer spending patterns, business decisions, and overall market dynamics. By gaining expertise in analyzing inflation data using R programming, you can enhance your ability to conduct market research, forecast consumer demand, and make informed marketing recommendations.
Quantitative Analyst
Quantitative Analysts use mathematical and statistical modeling to analyze financial data and make investment decisions. This course provides a strong foundation in data analysis, forecasting, and econometrics, which are essential skills for Quantitative Analysts. By learning how to analyze inflation data using R programming, you can enhance your ability to develop trading strategies, manage risk, and make informed investment decisions.
Business Analyst
Business Analysts leverage data to identify opportunities, solve problems, and improve decision-making within organizations. This course provides a strong foundation in data analysis, visualization, and forecasting, which are essential skills for Business Analysts. By learning how to analyze inflation data using R programming, you can enhance your ability to understand market trends, assess business performance, and make informed recommendations.
Consultant
Consultants provide expert advice to organizations on various business issues, including strategy, operations, and technology. This course provides a comprehensive overview of macroeconomic analysis, inflation dynamics, and the use of data analysis techniques. By gaining expertise in these areas, you can enhance your ability to analyze industry trends, develop data-driven solutions, and make informed recommendations to clients.
Investment Banker
Investment Bankers provide financial advice to corporations and governments on mergers, acquisitions, and other financial transactions. This course provides a strong foundation in macroeconomic analysis and the impact of inflation on financial markets. By learning how to analyze inflation data using R programming, you can enhance your ability to evaluate investment opportunities, advise clients on financial strategies, and make informed decisions in a dynamic economic environment.
Policy Analyst
Policy Analysts research and analyze public policies to inform decision-making and improve outcomes. This course provides a comprehensive overview of macroeconomic analysis, inflation dynamics, and the use of data analysis techniques. By gaining expertise in these areas, you can enhance your ability to evaluate the impact of policies, develop evidence-based recommendations, and contribute to informed policymaking.
Risk Manager
Risk Managers identify, assess, and mitigate risks within organizations. This course provides a strong foundation in data analysis, forecasting, and econometrics, which are essential skills for Risk Managers. By learning how to analyze inflation data using R programming, you can enhance your ability to measure and manage financial risks, develop risk mitigation strategies, and ensure the financial stability of organizations.
Data Scientist
Data Scientists use advanced analytical techniques to extract insights from data and solve complex business problems. This course provides a strong foundation in data analysis, machine learning, and statistical modeling, which are essential skills for Data Scientists. By learning how to analyze inflation data using R programming, you can enhance your ability to develop predictive models, identify trends, and make informed decisions based on data.
Statistician
Statisticians collect, analyze, interpret, and present data to inform decision-making. This course provides a strong foundation in statistical methods, data analysis, and forecasting, which are essential skills for Statisticians. By learning how to analyze inflation data using R programming, you can enhance your ability to conduct statistical research, develop statistical models, and make informed conclusions based on data.
Data Engineer
Data Engineers design, build, and maintain data pipelines and infrastructure. This course provides a strong foundation in R programming, which is a widely used language for data analysis and visualization. By learning how to analyze inflation data using R programming, you can enhance your ability to extract, transform, and load data, build data warehouses, and contribute to the field of big data.
Software Engineer
Software Engineers design, develop, and maintain software systems. This course provides a strong foundation in R programming, which is a widely used language for data analysis and visualization. By learning how to analyze inflation data using R programming, you can enhance your ability to develop data-driven applications, build interactive dashboards, and contribute to the field of data science.

Reading list

We've selected 11 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Macroeconomic Analysis: Investigating Inflation Trend with R.
Provides a comprehensive introduction to R, a programming language that is widely used for data science. It valuable resource for students and researchers who are interested in learning more about how to use R to analyze data.
Provides a detailed analysis of the relationship between inflation and economic growth. It valuable resource for policymakers and economists who are interested in learning more about the impact of inflation on economic growth.
Provides a detailed analysis of the relationship between inflation and unemployment. It valuable resource for policymakers and economists who are interested in learning more about the trade-offs between inflation and unemployment.
Provides a detailed analysis of inflation targeting, a monetary policy strategy that has been adopted by many central banks around the world. It valuable resource for policymakers and economists who are interested in learning more about the theory and practice of inflation targeting.
Provides a comprehensive introduction to reinforcement learning, a branch of artificial intelligence that is used to make decisions based on experience. It valuable resource for students and researchers who are interested in learning more about the basics of reinforcement learning.
Provides a comprehensive introduction to natural language processing, a branch of artificial intelligence that is used to understand and generate human language. It valuable resource for students and researchers who are interested in learning more about the basics of natural language processing.
Provides a comprehensive introduction to TensorFlow, a deep learning framework that is used to make predictions based on complex data. It valuable resource for students and researchers who are interested in learning more about the basics of TensorFlow.
Provides a comprehensive introduction to deep learning, a branch of artificial intelligence that is used to make predictions based on complex data. It valuable resource for students and researchers who are interested in learning more about the basics of deep learning.
Provides a historical perspective on the origins and evolution of inflation. It valuable resource for students and researchers who are interested in learning more about the long-run causes and consequences of inflation.
Provides a practical guide to data science for business. It valuable resource for business professionals who are interested in learning more about how to use data to make better decisions.
Provides a gentle introduction to machine learning, a branch of artificial intelligence that is used to make predictions based on data. It valuable resource for students and researchers who are interested in learning more about the basics of machine learning.

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