Economic Cycle Research Institute
The Economic Cycle Research Institute or ECRI is a group of special people who study how our economy goes up and down like a big roller coaster. They use lots of clues and signs to figure out if the economy is doing well or if it's having a hard time.
Just like how your mommy checks your forehead to see if you have a fever, the ECRI checks the economy using things like how much people are spending, how many jobs there are, and other things that show how much people are buying or how much we're making. They look at all of these things to try to predict what the economy will do in the future.
Imagine you're playing a game and you have to guess where the ball will go next. The ECRI is playing a type of guessing game too, but instead of a ball, they're guessing where the economy will be in the near future.
Sometimes the economy is doing really well and we can buy lots of toys or go on vacations with our families. Other times, the economy might not be doing so well and we might have to tighten our belts and spend less money.
The work that the Economic Cycle Research Institute does helps people like government leaders and business owners make good decisions about what to do during different parts of the economic cycle. Just like how your mommy makes different decisions based on how you're feeling, leaders and business owners make different decisions based on how the economy is doing.
Just like how your mommy checks your forehead to see if you have a fever, the ECRI checks the economy using things like how much people are spending, how many jobs there are, and other things that show how much people are buying or how much we're making. They look at all of these things to try to predict what the economy will do in the future.
Imagine you're playing a game and you have to guess where the ball will go next. The ECRI is playing a type of guessing game too, but instead of a ball, they're guessing where the economy will be in the near future.
Sometimes the economy is doing really well and we can buy lots of toys or go on vacations with our families. Other times, the economy might not be doing so well and we might have to tighten our belts and spend less money.
The work that the Economic Cycle Research Institute does helps people like government leaders and business owners make good decisions about what to do during different parts of the economic cycle. Just like how your mommy makes different decisions based on how you're feeling, leaders and business owners make different decisions based on how the economy is doing.