Economic Layers

1
Economic Layers
Global
National
National
Sector
Regional
Company
You
(c) 2001 by Russell G. Todd
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Global Economic View 2007

• Global GDP 59 trillion
• U.S. GDP 13.84 trillion
• Global per capita income 7,958
• U.S. annual income 46,040
• Low income countries 578
• Global trade55 of global GDP
• Source World Bank (some figures are estimates)

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6 Kinds of Business Journalism

• Economic
• Financial
• Commercial
• Personal Finance
• Consumerservice journalism
• Legal/Regulatory

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Economic Journalism

• Examines health of economies, its various
  components.
• Often based on economic indicators.
• Deals with theory supply-side, Keynes.
• Federal Reserve is focus of control.
• Can be localized down to region, state, county,
  metro areas.
• Cars houses are biggest components.

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Financial Journalism

• Focuses on money and markets.
• Bank lending and other loans.
• Bond market.
• Stock market.
• Forex market.
• Real estate, gold, oil, other hard assets.
• Derivatives options, futures, exotics.
• Mutual funds and other managed investments.

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Commercial Journalism

• Focuses on companies, both private and public.
• Organized into industries and sectors.
• Many spot stories about personnel, products,
  deals, etc.
• Emphasis on competition, innovation, success.
• Key to local business coverage.
• Most reporters start here.

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Personal Finance

• Emphasis on individual investment options,
  portfolios.
• Often looks at hot investment trends.
• Includes insurance, retirement, day trading, etc.
• Usually how-to, often in second person.
• Not usually the domain of beginners.

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Consumer Journalism

• Focuses on getting most for money.
• Also often in second person.
• Compares products and services (e.g., travel).
• Focuses on innovation, new models and abilities,
  etc.
• Can focus on anything people spend money on.
• Rarely localized well.

9
Regulation/Legal Journalism

• Focuses on new rules and changes in law.
• Focuses on violators of rules, law.
• Can involve courts, regulators such as SEC, CFTC,
  state securities regulators.
• Can focus on companies, individuals or both.
• Sometimes results from investigation by
  regulators, journalists.
• Whistleblowers often initiate stories.

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4 Touchstones for Reporters

• Supply rising/falling quality
• Demand rising/falling
• Liquidity savings level, borrowing costs
• New information how does it affect the first
  three?