Macroeconomy -Data Exercise #3

Macroeconomy -Data Exercise #3

ANSWER

Macroeconomy -Data Exercise #3

QUESTION

https://databank.worldbank.org/home.aspx
Click on World Development Indicators.

a. Select 20 countries for your project by checking the checkboxes under
Country, including USA and China.
b. Select the 2 data series GDP (current US$) and Population (Total) under
Series.
c. Select the most recent year under Time. Please use the last year when the
data is available. Otherwise, you will get zero for this part of the project.
d. Choose Layout on the upper left side of the screen. Under Orientation
choose “Page” for Time, “Column” for Series, and “Row” for Country.
e. Retrieve data. You can now retrieve data by clicking on the options on the
right upper side of the window.  Clicking “Table” will allow you to see data.
Click “Download options” and choose “Data on this page only – formatted”.
This option will allow you to download the data in Excel, which can then be
copied into your report file. Or you can simply type the required data into
the table below. Fill in the table below.
f. Present the table in your project.
g. Calculate the per capita GDP for the most recent available year for the
countries with the equation given in the far right column.

Country    GDP Population    Per Capita GDP
1        2         3         4 = 2/3

Write a short report in your own words (2 pages, double-spaced), which contains the
analysis of the results you received. In this report consider, but do not be limited to the
following:
1. List the countries by highest per capita GDP to lowest.
2. Does the order remain the same for total GDP as for per capita GDP?
3. If not, explain why is it different.
4. Please analyze and discuss the significance of the data that you received for this
Data exercise.

5. Please reflect on what you have learned from this assignment.

Part 2: Index of Economic Freedom (weight 45% of the assignment grade)
Log onto the Heritage Foundation's website at https://www.heritage.org/index/
“Today, we live in the most prosperous time in human history. Poverty, sicknesses, and
ignorance are receding throughout the world, due in large part to the advance of
economic freedom. In 2021, the principles of economic freedom that have fueled this
monumental progress are once again measured in the Index of Economic Freedom, an
annual guide published by The Heritage Foundation, Washington's No. 1 think tank.
For twenty-seven years the Index has delivered thoughtful analysis in a clear, friendly, and
straight-forward format. With new resources for users and a website tailored for research
and education, the Index of Economic Freedom is poised to help readers track over two
decades of the advancement in economic freedom, prosperity, and opportunity and
promote these ideas in their homes, schools, and communities.
The Index covers 12 freedoms – from property rights to financial freedom – in 184
countries.”
(https://www.heritage.org/index/)

Click on COUNTRY RANKING to find the Rank and the Overall Score of economic
freedom.
Click on EXPLORE THE DATA to find the Rank of business, trade, financial freedom, and
property rights.
1. Find the Rank and Overall Score in economic freedom (overall) of the countries
that you were using in part I of the assignment. Present this information as table(s) in
your project.
2. Find the scores in business, trade, financial freedom, and property rights of the
countries that you were using in part I of the assignment. Present this information as
table(s) in your project.

3. Compare the Rank in economic freedom (overall) and other indicators with the
order of the countries using the per capita GDP in the table in part I of the
assignment.
4. Write a report in your own words (2 pages, double-spaced), which contains the
analysis of the results that you received. Discuss the significance of the data and
what you feel is the relevance of rankings. Please reflect on what you have
learned from this assignment.

PRESENTATION OF THE DATA EXERCISE AND USE OF APA CITATION
METHODOLOGY (10%) of the project grade):
 Organization, format, and presentation of the paper including the title page, introduction,
body, and summary. Begin each section with a subheading; use the subheadings described
in the assignment (3% of the project grade).
 Use of tables, figures, and other graphics to summarize and support the analysis presented in
the paper. All tables and charts should have the numbering system: “Table 1”, a substantive
title, and a reference to the source of the information. (3% of the project grade).
 Research sources and significance of research information and data, and use of APA
citation methodology (4% of the project grade).

Scroll to Top
Scroll to Top