The Data of macroeconomics It is a capital mistake to theorize before one has data Insensibly one begins to twist facts to suit theories, instead of theories to fit facts. Sherlock holmes Scientists, economists, and detectives have much in common: they all want to figure out what's going on in the world around them. To do this, they rely on both theory and observation. They build theories in an attempt to make sense of what they see happening. They then turn to more systematic observation to eval- uate the theories validity. Only when theory and evidence come into line do they feel they understand the situation

1-1 What Macroeconomists Study Why have some countries experienced rapid growth in incomes over the past century while others stay mired in poverty? Why do some countries have high

Nominal data is the simplest form of data in which data falls into unordered Types of Data to represent non-numeric categories Nominal data can have two or more categories Where there are only two categories variable(or indicator) is generally referred to as dichotomous or binary Types of data Nominal scales

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Your use of the STOR archive indicates your acceptance of JSTOR'S Terms and Conditions of Use, available at http://www.jstor.org/about/terms.htmlJstOr'sTermsandConditionsofUseprovidesinpartthatunlessyou have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and

Eugene F Fama. James D. Mac Beth The Journal of political Economy, Volume 81, Issue 3(May -Jun, 1973),607-636 Stable url: http://links.jstor.org/sici?sici=0022-3808%28197305%2f197306%2981%03a3%03c607%3arraeett3e2.0.c0%03b2-c Your use of the JSTOR archive indicates your acceptance of jSTOR's Terms and Conditions of Use, available at http://www.jstor.org/about/terms.htmlJstOr'sTermsandConditionsofUseprovidesinpartthatunlessyou

In late 1990, executives, engineers, and financial advisors working for Amoco Corporation and Apache Corporation began serious discussions about the sale to Apache of MW Petroleum Corporation, a wholly-owned subsidiary of Amoco Production Company. Amoco had transferred to MW certain of its own assets that it regarded as non-strategic. MW,s size, location, and operations were all very attractive to Apache, which had grown nearly 30% per year since the mid-1980s

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