Economic Confusion

What’s the difference between Forecasting Tools and Forecasting Methods?

Five sets of Forecasting Tools

  1. Statistical Tools

  2. DCF - Grinold Kroner

  3. Risk Premium Approach

4 Financial Equilibrium Models (Singer Tahraar)

  1. Surveys, Panels, Judgment

Three Economic Forecasting Methods

  1. Econometric

  2. Economic Indicators

  3. Checklist Approach

Aren’t tools and methods interchangeable words? I’m more concerned about vague open ended AM questions on these things where I might confuse them…

Tools are used by methods to get the required attributes- FOr example -Checklist using Survey Panels jusdgemnt

Econometric using-Statistical tools