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Hi Folks–similar to the Census (which we will use next assignment), we’re now going to get to know Texas’ economy, in more detail,as in how it’s measured for growth, or success. As in most aspects of life, there are different ways and usages for numbers, but some, like the Census, are just more important than others. For this assignment, we’re going to use the Gross State Product, which is part of the US Gross Domestic Product. I usually obtain these tables from the Texas Comptrollers website, as I have for 15 years, but the current officeholder, Susan Combs, is running for re-election, and was considering running for a higher office if the Texas Lieutenant Governor left office. Im saying this because Im VERY disappointed as a Texas resident, taxpayer and educator. The Comptrollers office is the state’s taxing, auditing, and revenue guardian. It is NOT an economic development forum–we have several associations–like the Chambers of Commerce, and other offices under the Governors control, that deal with these interests. Since President Obama has taken office, however, and Rick Perry and others caught up in political ambition, this office and it’s huge data base have simply become a political tool. This is a disgrace to the the families, students, taxpayers and consumers especially. Let’s now move to the data, which I had to find in the US Bureau of Economic Analysis, BEA, and compile for you.
Texas’ economy is huge, as you have hopefully come to know from Chapter 1, and the course in general. It’s the 2d largest in the US, and has done well over the past 3 years, since the financial collapse and recession. That’s a good thing. Let’s look at what the economy is, in all its wrinkles, by comparing the GSP from last year, to the previous, 2010.
In chapter 1 of the text, you’ll find Table 1–a breakdown of the Gross State Product over a 10 year span. For this assignment, you’re going to make comparisons between the data reported for 2011, by viewing this PDF file:
and compare to Table 1, in the column for 2010.
FOR ASSIGNMENT: Please go through and type the total for each 2010 sector, ie, Agriculture, Mining, etc., then type the total for each 2011 sector.
Also, you will see the 2011 file is much more detailed, it explains to us which subsectors exist, ie, the more specific industries–wood products, non-metallic, forestry, etc. Please list 2 subsectors for each sector, including 2 for durable goods and 2 for non-durable. Conclude with the overall sector that grew the most, in dollars.