Economist how-to

How to Build a Simple Economic Forecast

Forecasts guide planning.

Updated By the Career Education Institute Curriculum Team
Quick answer

Forecasts guide planning. In short: pick; gather; choose, then complete the remaining steps below.

Step by step

  1. Pick indicators.

  2. Gather history.

  3. Choose a model.

  4. Make the forecast.

  5. Add ranges.

  6. Update regularly.

Safety reminders for economists

  • Protect confidential data
  • Follow research ethics
  • Present findings honestly
  • Disclose limitations

GDP · Inflation · CPI · Unemployment rate · Monetary policy · Fiscal policy: see the full economist glossary.

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