Assignment: you are an economic development specialist for the State of Florida preparing a regional economic analysis for the Miami-Fort Lauderdale- Palm Beach metropolitan areas. Using the data provided in the tables below,
- Calculate location quotients for both metropolitan areas for 2000, 2005 and 2010
- Analyze Miami and conduct a shift-share analysis for three periods: 2000-2005, 2005-2009, and 2000-2010
- Prepare a memorandum to the Florida Director of Regional Economic Development that summarizes your assessment of the relative strengths and weaknesses of the regional economies for Miami, the dynamics of industry growth and decline, and your recommendations for targeting economic development strategies for industries in these metropolitan areas. (You do not have to identify specific programs; focus on how your analysis leads to adopting general guidelines.)
Notes & Tips:
- Calculate the accurate numbers in Miami tables (in 2000 and others) with reasonable presumption, and explain the assumption and reason in detailed. You also can learn the ways from the PPT I uploaded;
- All tables, charts, graphs should be numbered, clearly labeled and included in the back of the paper in appendices;
- Use standard 1-inch margins, Time Roman Font, and 12 point font size;
- Use a standard memorandum format (TO, FROM, SUBJECT, DATE, etc.);
- Include page umbers and a running head on each page;
- Cite all sources. (Data for this project are from the U.S. Department of Commerce, Bureau of Economic Analysis);
- The missing data in the Miami tables for 2000 are not errors. Address how you handle this problem in your memorandum;
- Make sure you discuss both metro areas in your memorandum, even if most of your analysis will focus on only one of them.
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