This has been a fantastic month for my project, a good month for me (had a great Birthday on the 29th) and I hope it has been for everyone else too. With that said the project continues to be a great experience. Thus far and looking very far forward even beyond summer. This project has brought a variety of things to my attention, including projects that I can do separately and as continuations throughout this year and further. On to the posts below:
(Backlog and catching up to speed)
My project in brief is about how changes to the interest rate of time deposits impact the demand of the certificates of deposit from financial institutions through elasticity. The literature required for the project has ranged greatly, although the literature in use can in general be summarized to Elasticity (Supply and Demand studies), Time deposits, Currency studies, and a variety of studies of goods (Commodities, inferior, superior). In addition much other literature was required for other regards (double checks and possible concerns) with the project. The literature review has been extremely useful in nearly every way it could have been.
(Exert from Interm Report: By develop a literature review I’m referring to using sources available to find research and literature related to the project. Then reading to make sure that the literature found is relevant and understandable; followed by cataloging the articles with excel, and including brief summary of particular information in the article to quickly find articles. When gathering a lot of literature different articles may have very similar names, since a lot of the literature is going to be intertwined and or related, which is why cataloging the articles is important. After gathering and going through the literature then checking to making sure the literature review covers the key information in the article, such as how their project was done, the formulas used, sample used, and much more. Then using the information as an advantage to improve, add value, and save time on my own project. Then the final step of the literature review is writing the literature review, by putting all the useful information together making it readable, understandable and has a constant flow of the information.)
The data due to the massive size of (the file containing) observations and information has taken longer than expected to go through organize and then even longer to get results. (Referring to the hours it takes to open certain files and from hours on up to days to run the files with programs.) On the better side the model has been developed, although is still subject to possible changes. The results from the current model have been very interesting and show the potential that there are important happenings with the market of time deposits that can be looked into through the elasticity. The current results have provided a lot of information that has furthered the project and work. There is still a list of things that are heading towards completions.
The things currently being worked on and finished are running the data, using the data, getting more statistics from the data and interpreting the results that have already come through and been gathered. After all the information is gathered and interpreted and there are a lot of checks as this is still another lengthy part of the project. Overall the project is going well and on track. Even though there is a lengthy-ness to working with the data, working with the data and interpreting it is a part that I enjoy very much. Also soon I should have a computer that will be able to work with the data in a timelier manner (there isn’t a computer on campus remotely fast enough to work with the data for: technical reasons).
Thank you for reading (or scrolling down to read this),