Economic Data Ex

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. The paper should be written in APA style Research Paper format. No more than 20% of the text of the project should be made up of quotes. Please note that Use of APA Citation Methodology is required for all parts of the assignment Written projects must be: 1. typed, double-spaced, in 12-point Times New Roman or Arial font, with margins no wider than one inch 2. have footnotes or endnotes, with correct citations 3. have a bibliography of sources used 4. include, for each entry, the author, title, city and state of publisher, publisher's name, year, and page numbers 5. prepared using word processing software (Microsoft Word preferred), in a manner similar to the preparation of a written assignment for classroom submission Data exercise #3 Assignment Consists of two parts. Part 1: GDP in Different Countries (weight 50% 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 15 countries for your project by checking the check boxes under Country. b. Select the 2 data series GDP (current US$) and Population (Total) under Series. c. Select the most recent year under Time. Please use the last year when the data 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 (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: 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 and reflect on what you have learned from this exercise. Part 2: Index of Economic Freedom (weight 50% 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 2020, 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-six 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 186 countries.” 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 (1 page, 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 what you have learned from this assignment.