Assignment
Part 1: GDP in Different Countries
Complete the following exercise: Go to World Development Indicators database:
https://databank.worldbank.org/data/views/variableSelection/selectvariables.aspx?source=world-development-indicators
Select 8 countries for your project by checking the check boxes under Country. Select the 2 data series GDP (current US$) and Population (Total) under Series. Select the most recent year under Time.
You can now retrieve that data by clicking one of the options on the upper right of the window. Clicking "Table" will allow you to view and copy the data for each country. Clicking "Download" will allow you to download the data in Excel, which can then be copied into your report table.
Or you can simply type the required data into the table below.
Fill in the table below. Calculate the per capita GDP for the most recent available year for the countries with the equation given in the far right column.
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GDP
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Population
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Per Capita GDP
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1
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2
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3
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4 = 2/3
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Write a short report in your own words (1 page, double-spaced), which contains the analysis of the results you have gotten. In this report consider, but do not be limited to the following:
• List the countries by highest per capita GDP to lowest.
• Does the order remain the same for total GDP as for per capita GDP.
• If not, explain why is it different?
Part 2: Index of Economic Freedom
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 2016, 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 Wall Street Journal and The Heritage Foundation, Washington's No. 1 think tank.
The Index covers 10 freedoms - from property rights to entrepreneurship - in 186 countries. Each of the ten economic freedoms within these categories is graded on a scale of 0 to 100."
Click on COUNTRY RANKING to find the rank of economic freedom. IMPORTANT - Make sure you use the Rank and not the Overall Score.
Click on EXPLORE THE DATA to find the rank of business, trade, financial freedom, and property rights.
• Find the rank in economic freedom (overall) of the countries that you were using in part III of the assignment.
• Find the rank in business, trade, financial freedom, and property rights of the countries that you were using in part III of the assignment.
• 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.
1. Present the information that you received in your project as a table.
2. Write a report in your own words (1 page, double-spaced), which contains the analysis of the results that you received.