Asking for help did provide some help. The professor actually responded a few hours after I sent the e-mail (which is a shock because he always takes 2 days to respond and I still haven’t got a response to an e-mail I sent him nearly a week ago).
He told me to go module 8. Well, I get that. Well a little bit. But enough to know what I’m doing right or wrong.
So I wrote him back.
I understand that part in Module 8 a bit. It’s just, is it supposed to be in a table form like page 24 from the imput-output model basics? Does that mean that all the direct effects need to be related to each other in spendenture in a tableform? I just have them written out.
How do I do the Type I and II Multipliers?
My first direct effect is:
Alcoa hires 100 new workers at a yearly salary of $60,000 each ($600,000 total).
My first in-direct effect is:
Company that Alcoa orders chemicals from increases their productivity and hires 50 new workers ($10 an hour, $14,400 a year, total $720,000) to cover additional sell of $50,000 to Alcoa.
My first induced effect is:
20 new workers purchase a vehicle to drive to work instead of fixing old one, average cost is $30,000 in auto loans (total $600,000).
But I’m not sure how to multiple it and divide it. Do I focus on the employment number? Or the money? So I take the $600k + $720,000 + $600,000 / $600,000 = 3.2
Is that my employment multiplier? Or output multiplier? Both?
And am I supposed to be doing this for everything? 1a + 1b /1a and 1a + 1b + 1c /1a and so forth? Or is it supposed to be in a graph form so it could be like 1a + 2b + 3c/1a?
And I’m not quite sure how I get the backward linkages.
I know it seems like I’m unable to understand simple things, it’s just for some things I’m unable to grasp it and need to be explained in a way I can understand of what is I’m doing wrong. With the location quotient I had multiple examples and then I finally had the excel sheet with formulas in it so I was able to test what I was doing and if I was doing it wrong. And I was doing several things wrongs, but I was able to fix it. Here, I don’t really have that. The modules have it written it out like a word problem, so did the pdf with the Lumberland example, but the other input-output pdfs didn’t and I didn’t know what I was doing when compared to them.
I’m not sure why I do not understand what I’m supposed to do and I’m sorry for having to bug you, I’m just lost and not sure what to do and I really don’t want to fail this test and course. I want to get it right, but at the moment I’m not sure what I’m doing wrong.
And none of my classmates responded to my e-mail. Nor has my brother’s friend, the one who has a degree in economics.
Did I mention how this is 30% of my grade and that it’s due in 15 hours?