GDP in Different Countries Complete the following exercise: Go to World Development Indicators database: https://databank.worldbank.org/home.aspx Click on World Development In

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 7th 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-7

th style

3. Must have in-text citations in APA-7

th edition style

4. Must have reference list in APA-7

th 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 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 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