Assignment:
Comparative Economic Systems Research Project
You have been assigned a country to economically evaluate this semester. For your assigned country you will complete numbers 1-6 below by the due date specified in the syllabus.
1. In 2 to 3 pages, detail in your own words the political, economic, and social institutions dominant in your assigned country. Also, provide some brief historical context that help explain these institutions.
2. Using the most recent data available from any credible source including the CIA, OECD, UN, WB, IMF, etc. locate the following metrics on each country and the United States. Consolidate in tabular formin Word with each metric listed in the first column, your assigned country results in the second column, and the U.S. results in the third column. In a fourth column cite the source (e.g. OECD, CIA, etc.). Some metrics below may need to be calculated from the source data provided.
• GDP (Purchasing Power Parity and Official Exchange Rate
• GDP Real Growth Rate
• Per Capita GDP
• GDP Composition by sector (e.g. consumption, investment, etc.)
• Labor Force Size and Participation Rate
• Unemployment Rate
• Gini Index
• Inflation Rate
• Exports (dollar value)
• Imports (dollar value)
• Trade Surplus/Deficit (calculate as a percentage of GDP)
• National Debt (calculate as a percentage of GDP)
• Population and Population Growth Rate
• Life Expectancy at Birth (years)
• Infant Mortality Rate
• Homicide Rate (per 100,000 people)
• Central Bank Interest Rate
• Stock Market Capitalization in dollars and percent of economy.
3. Respond to a and b below:
a. Using our lecture and textbook material, how would you classify your country in each of the following?
i. Property Rights
ii. Decision-making
iii. Incentive Mechanisms
iv. Public Choice System
b. Using our lecture and textbook material along with the data collected in #2 above, how would you classify your countries in terms of the following economic outcomes?
i. Standard of Living
ii. Economic Growth
iii. Efficiency
iv. Equity
v. Stability
4. In 2 to 3 pages, contrast your assigned country's metrics with those of the United States. Focus on those areas that are most divergent. Using the information from question #3 above, based on what you have learned in class and via the WSJ readings, speculate on why such differences may exist.
5. Collect and review at leasttwelvepolitical, social, and/or economic news articles (WSJ only) for your country. The easiest way to locate articles is to type in google search your country + WSJ then select the news link. Articles should be less than one year old and provide a diverse portrayal of the conditions/issues the country has been facing recently. In 2 to 3 pages summarize the recent conditions in your assigned country. Do not quote from any of the articles directly but provide an overview of what you have learned from the articles. Attach all articles in a separate Word file labeled "WSJ Articles".
6. Finally, in 2 to 3 pages act as a consultant to the government of your assigned country. Based on the current situation, what economic, social, and/or political policies would you recommend they implement or omit? Think more specifically about their labor markets, financial markets, taxation, government regulation, and safety-net programs in contrast to the U.S. What aspects would attract you to the country? What aspects make the U.S. look more attractive? This section is all about demonstrating how different government policies generate different outcomes so use what you have learned in our class to the fullest.
Type your answers to each of the above questions in a Word file and upload in the Blackboard link provided. Additionally, copy your 12 articles, into a word or PDF file and upload into the Blackboard link provided. In total you should be uploading two files, one Word document with answers to questions 1-6 above and one with 12 WSJ articles.
• Use MLA format
• Questions 1 to 6 are each weighted equally in grading.