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Coverage of Business & the Economy

Coverage of Business & the Economy. Professor Eric Freedman 30 November 2011 freedma5@msu.edu. Lecture Outline. Why business & economics coverage matters Major categories of coverage Sourcing Smart use of statistics Discussion points. Lithuanian government not to rescue Snoras bank

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Coverage of Business & the Economy

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  1. Coverage of Business & the Economy Professor Eric Freedman 30 November 2011 freedma5@msu.edu

  2. Lecture Outline • Why business & economics coverage matters • Major categories of coverage • Sourcing • Smart use of statistics • Discussion points

  3. Lithuanian government not to rescue Snoras bank Baltic Times, Nov 24, 2011 Robust small business rebound drives growth Baltic Times, Nov 24, 2011 Lithuania-operated cargo train launched on China-EU route Baltic Times, Nov 17, 2011 Lithuanian doctors are sought-after commodities Baltic Times, Nov 03, 2011 President proposes VAT rate reduction for press Lithuania Tribune, Nov 29, 2011 Deposits decrease by 0.7% following Snoras suspension Lithuania Tribune, Nov 29, 2011 Over a month, retail trade turnover increased by 0.7 per cent Lithuania Tribune, Nov 28, 2011

  4. “This is where the power lies, and not many people are writing about it. Money is the source of all power, the source of all evil“ Nik Doogun Wall Street Journal reporter

  5. Potential Sources for Business Stories: Start at the Top • Managing directors, owners, company executives • Lawyers, brokers, accountants • Financial analysts • Labor union leaders • University professors, independent researchers • Politicians, government officials • NGO experts • Public relations, marketing & advertising specialists • Editors of industry publications • Economists at banks • Trade & industry groups, chambers of commerce

  6. Checklist for Using Statistics • Verify the accuracy of statistical information • Focus your story on the most important or unusual aspects of the statistical information • Present information in understandable & concise way • Look for connections between statistics that may make the story more interesting • Don’t editorialize—let the numbers speak for themselves or use experts to characterize them.

  7. Discussion Points • Is there any economics-related news that should not be reported? If so, why? • What are possible ethical issues for business reporters?

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