Macroeconomic data analysis and report: comparing economies of benin

TASK 

You should create a report that compares the economic profile of Benin with the economic profile of the UK. 

 

OBJECTIVE 

Your report should demonstrate that you can use ICT skills to support your work as an economist using Microsoft Excel and Microsoft Word.  You will be assessed on the quality of your presentation (appearance of your submission DOES matter) as well as on written content. You should demonstrate awareness of important macroeconomic indicators and be able to draw meaningful comparisons between the two countries on the basis of these. You should be able to display AND discuss your data appropriately.

 

REQUIREMENTS 

Your report should compare some key features of the two economies, Benin and the UK. Choose features that are important, rather than trivial, and for which you can find data; for example: 

 

•Do the two countries have similar levels of economic activity? 

•Are the two country’s economies growing at the same rate? 

•Are both countries equally open to international trade? 

•Is the standard of living the same? 

•Is labour productivity the same? 

•Try to look at long-run trends, not just the most recent figures, so that you can report on whether the relationships you describe are increasing or decreasing or staying roughly constant.

 

The format of your report must be a word document and you should:

•Write a minimum of 800 words of text, maximum of 1300 words.

•Begin with a text-only summary of no more than 150 words in which you briefly summarise the comparison you have made. 

•Explain your choice of variables and their meaning.

•Include tables imported from Microsoft Excel and graphs imported from Microsoft Excel or PowerPoint onto your Microsoft Word document. At least one table should involve calculations, for example of growth rates or of ratios between two measurements.

•Use stylistic devices such as bold, underline, italics, or large font to add emphasis where suitable, e.g. to titles.

•Follow your report with a list of references to web-sites where further information is available. Use Harvard referencing. Annotate each item in this list with a brief description of what sort of information is available. 

 

Marking Criteria

•Presentation (clarity, layout, formatting, text, special effects)…………………..10%

•Use and display of tables…………………………………………………………10%

•Use and display of graphs……………………………………………………….10%

•Evidence of advanced use of spreadsheet, calculations…………………………10%

•Addressing set task (description of collective behaviour of selected variables)

Showing awareness, knowledge and understanding……………………………. 30%

•Overall quality of analysis……………………………………………………….10%

•Summary of findings……………………………………………………………..10%

•References/description of suitable web sites…………………………………….10%

 

RESOURCES 

Penn World Tables provide purchasing power parity and national income accounts converted to international prices for 189 countries/territories for some or all of the years 1950-2010.You can access this data source at: https://pwt.sas.upenn.edu/php_site/pwt71/pwt71_form.php. This link contains the most recent dataset as released in July 2012.

 

 Once you begin to engage with the data and choose variables for comparison, you will be asked in what output format you would like to have the data presented. Make sure to pick csv – comma separated values – so that you can transport your data into Excel. Access the following link for help on how to use csv data https://pwt.sas.upenn.edu/php_site/pwt71/help_pwt71_format.php

 

For further information on the available variables visit: https://pwt.sas.upenn.edu/php_site/pwt_index.php and click on the links under PWT 7.1. The OCED offer the following statistical terms glossary: http://stats.oecd.org/glossary/index.htm

 

 

Please note the Penn World Tables link is also available electronically from the module’s Blackboard site in the assignment folder of the lectures, labs, tutorials tab. Additionally, ensure that you cite any data collected from the Penn World Tables as indicated in the first link.

 

 

The Penn World Tables are merely a starting point and you should refer to additional resources as provided, for example, by The Economics Network: http://www.economicsnetwork.ac.uk/links/data_free. Here you will find other datasets and indicators that may be useful in profiling your two countries. For example, there are useful links on this site to IMF and World Bank statistics, among many others.

 

Appendix A

 

The available variables:

 

POP  Population (in thousands)

 

 

Exchange Rates and PPPs over GDP

  

   XRAT  Exchange Rate to US$

 

  Currency_Unit  National Currency (Local Currency Unit)

 

   ppp  Purchasing Power Parity over GDP (in national currency units per US$)

 

 

Current Price Variables, Shares and Price Levels

  

   tcgdp  Total PPP Converted GDP, G-K method, at current prices (in milions I$)

 

   cgdp  PPP Converted GDP Per Capita, G-K method, at current prices (in I$)

 

   cgdp2  PPP Converted GDP Per Capita, average GEKS-CPDW, at current prices (in I$)

 

   cda2  PPP Converted Domestic Absorption Per Capita, average GEKS-CPDW, at   current prices (in I$)

 

   ccConsumption Share of PPP Converted GDP Per Capita at current prices [cgdp], (%)

 

   cg Government Consumption Share of PPP Converted GDP Per Capita at current prices [cgdp], (%)

 

   ci  Investment Share of PPP Converted GDP Per Capita at current prices [cgdp], (%)

   p  Price Level of GDP, G-K method (US = 100)

 

   p2  Price Level of GDP, average of GEKS-CPDW (US = 100)

 

   pc  Price Level of Consumption

 

   pg  Price Level of Government Consumption

 

   pi  Price Level of Investment

 

   openc  Openness at Current Prices (%)

 

   

   y  PPP Converted GDP Per Capita Relative to the United States, G-K method, at current prices, [cgdp](US = 100)

 

   y2  PPP Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices, [cgdp2](US = 100)

 

 

Constant Price GDP Per Capita and Expenditure Shares

  

   rgdpl  PPP Converted GDP Per Capita (Laspeyres), derived from growth rates of c, g, i, at 2005 constant prices

 

   rgdpl2  PPP Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption, at 2005 constant prices

 

   rgdpch  PPP Converted GDP Per Capita (Chain Series), at 2005 constant prices

 kc  Consumption Share of PPP Converted GDP Per Capita at 2005 constant prices [rgdpl]

 

  kg  Government Consumption Share of PPP Converted GDP Per Capita at 2005 constant prices [rgdpl]

 

  ki Investment Share of PPP Converted GDP Per Capita at 2005 constant prices [rgdpl]

 

 openk Openness at 2005 constant prices (%)

 

 

Constant Price Per Capita Measures by Unit of Consumption or Unit of Labor

  

   rgdpeqa  PPP Converted GDP Chain per equivalent adult at 2005 constant prices

 

   rgdpwok  PPP Converted GDP Chain per worker at 2005 constant prices

 

   rgdpl2wok  PPP Converted GDP Laspeyres per worker at 2005 constant prices

   

   rgdptt  PPP Converted Gross Domestic Income (RGDPL adjusted for Terms of Trade changes) at 2005 constant prices

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