Subject- Macroeconomics
In particular, we will use the United States – the world’s largest economy – as the comparative. You compare your country to the United States on each of the economic variables listed below.
You need to submit the following:
1. GDP and GDP Per Capita: compare these values for your country with those for the United States, keep the year used as close as possible (the same year is preferred, if available), be specific about the currency in which the numbers are expressed – you should be able to obtain all values in US Dollars. If the values are in Purchasing Power Parity (PPP), do note that – most likely they will be in PPP.
2. Using the data you collected in the previous paragraph, compare the standard of living of your country to that of the United States. Remember that by definition, GDP Per Capita is the universal measure of standard of living, but you must also include other variables, such as education attainment, health data, the size of the shadow economy, nutrition statistics, sanitation, and any other variable that you think helps compare the standard of living. This is a comparison effort between your country and the US. Some of those variable you have already explored for your country in the previous week.
3. What is the most recent inflation rate and how does it compare to the inflation rate for the same year in the United States?
4. What is the most recent rate of growth of the country and how does it compare to the economic growth rate for the same year in the United States? be careful when comparing growth. You may find a country that is growing faster than the US but it is less developed. Make sure to explain this.
5 What explains the recent economic growth, or lack of growth in your country? be very specific about what is happening in the country you selected.
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