ECON 201 Data Exercise 3
DATA EXERCISE #3 Due at the end of week 7 Format of the Project: The Data Exercise must be posted to the LEO Student Assignments as a Attachments are limited to a maximum two files in doc, docx., xls. xlsx., or rtf. formats. OTHER FORMATS ARE NOT ACCEPTABLE, will not be reviewed or graded. Please note that hand-written and scanned works, pdf. files, jpg. files, as well as files posted in google drive, will not be accepted or graded. Please note that starting from the Fall 2020 semester the UMGC moved to the 7th Edition of the APA Style. The links to the 7th Edition of the APA Style methodology are posted in Content – Course Resources – Writing Resources. No more than 20% of the text of the project should be made up of quotes. Please note that Use of the 7 th Edition APA Citation Methodology is required for all parts of the assignment Written projects: 1. Must be typed, double-spaced, in 12-point Times New Roman or Arial font, with one-inch margins 2. Must have the title page in APA-7th style 3. Must have in-text citations in APA-7th edition style 4. Must have reference list in APA-7th edition style. Please note that you must reference the data you are using for the project 5. Must be prepared using word processing software (Microsoft Word preferred) Data exercise #3 Assignment Consists of two parts. Part 1: GDP in Different Countries (weight 45% of the assignment grade) Complete the following exercise: Go to World Development Indicators database: https://databank.worldbank.org/home.aspx Click on World Development Indicators. a. Select 12 countries for your project by checking the check boxes under Country, including USA, China, and Norway. b. Select the 2 data series GDP (current US$) and Population (Total) under Series. c. Select the most recent year under Time where data required for this exercise 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, “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 1 GDP Population Per Capita GDP 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 this 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 2023, 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-nine 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 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 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).
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