Step 1. Access the CIA World Factbook at: https://www.cia.gov/library/publications/the-world-factbook/index.html Step 2. Using the menu "Please select a country to view," compute the total population in 2016 (or the available year) and the total Gross Domestic Product (GDP, official exchange rate, in US dollar) in 2015 (or the available year) of the EIGHT OPEC members that are INCLUDED in the Middle East region as DEFINED in this course (see PowerPoint slide 65, Topic 2). Divide the total GDPs (official exchange rate in US$) of the 8 Middle East OPEC countries by their total population to obtain the GDP per capita in $US of the 8 OPEC countries. 3. Using the menu "Please select a country to view," compute the total population in 2016 (or the available year) and the total Gross Domestic Product (GDP, official exchange rate, in US dollar) in 2015 (or the available year) of the G7 countries or Group of Seven (Canada, France, Germany, Italy, Japan, United Kingdom, and United States). Divide the total GDPs (official exchange rate in US$) of the G7 countries by their total population to obtain the GDP per capita in $US of the G7 countries. Step 4. READ CAREFULLY "Who got what from a litre of oil in 2015," http://www.opec.org/opec_web/en/data_graphs/333.htm (if you need more information, see Taxes on Oil at: http://asb.opec.org/index.php/taxes-on-oil ) Step 5. SKIM THROUGH the article "Recycling Petrodollars" at http://www.newyorkfed.org/research/current_issues/ci12-9.pdf Based exclusively on the EXACT six figures (which must be cited in your analysis) you computed YOURSELF in steps 2 and 3, based on the information and figures you learned from PowerPoint slides 67-81, and based on the OPEC graph in step 4 and the "Recycling Petrodollars" article (and other related stories in the readings) in step 5, write a concise essay (250-350 words) in which (1) you summarize your learning about who gets what from oil revenues and you explain whether or not your learning impacted your worldview or perspective about the distribution and circulation of oil-related wealth, and (2) you discuss the comparative wealth of the two groups of countries: the 'developed' G7 countries and the 'developing' eight Middle East OPEC member countries in light of the question of "resource endowment" (natural occurrence of resources in a country or countries) versus "resource control" (who actually has more control over those resources?). Homework 2 is worth 10 points (10 percent of your final grade). Sources for homework assignments MUST be cited briefly and ONLY between parentheses in the text (for example: Recycling Petrodollars, slide 73) so I can verify them quickly while grading and writing feedback. Write your name (NOT the name of the instructor) on the homework assignment. Each homework assignment in this course must be formatted as a Microsoft Word file and uploaded through the TurnItIn link (View/Complete) by the deadline. No other submission will be accepted.

Step 1. Access the CIA World Factbook at: https://www.cia.gov/library/publications/the-world-factbook/index.html Step 2. Using the menu "Please select a country to view," compute the total population in 2016 (or the available year) and the total Gross Domestic Product (GDP, official exchange rate, in US dollar) in 2015 (or the available year) of the EIGHT OPEC members that are INCLUDED in the Middle East region as DEFINED in this course (see PowerPoint slide 65, Topic 2). Divide the total GDPs (official exchange rate in US$) of the 8 Middle East OPEC countries by their total population to obtain the GDP per capita in $US of the 8 OPEC countries. 3. Using the menu "Please select a country to view," compute the total population in 2016 (or the available year) and the total Gross Domestic Product (GDP, official exchange rate, in US dollar) in 2015 (or the available year) of the G7 countries or Group of Seven (Canada, France, Germany, Italy, Japan, United Kingdom, and United States). Divide the total GDPs (official exchange rate in US$) of the G7 countries by their total population to obtain the GDP per capita in $US of the G7 countries. Step 4. READ CAREFULLY "Who got what from a litre of oil in 2015," http://www.opec.org/opec_web/en/data_graphs/333.htm (if you need more information, see Taxes on Oil at: http://asb.opec.org/index.php/taxes-on-oil ) Step 5. SKIM THROUGH the article "Recycling Petrodollars" at http://www.newyorkfed.org/research/current_issues/ci12-9.pdf Based exclusively on the EXACT six figures (which must be cited in your analysis) you computed YOURSELF in steps 2 and 3, based on the information and figures you learned from PowerPoint slides 67-81, and based on the OPEC graph in step 4 and the "Recycling Petrodollars" article (and other related stories in the readings) in step 5, write a concise essay (250-350 words) in which (1) you summarize your learning about who gets what from oil revenues and you explain whether or not your learning impacted your worldview or perspective about the distribution and circulation of oil-related wealth, and (2) you discuss the comparative wealth of the two groups of countries: the 'developed' G7 countries and the 'developing' eight Middle East OPEC member countries in light of the question of "resource endowment" (natural occurrence of resources in a country or countries) versus "resource control" (who actually has more control over those resources?). Homework 2 is worth 10 points (10 percent of your final grade). Sources for homework assignments MUST be cited briefly and ONLY between parentheses in the text (for example: Recycling Petrodollars, slide 73) so I can verify them quickly while grading and writing feedback. Write your name (NOT the name of the instructor) on the homework assignment. Each homework assignment in this course must be formatted as a Microsoft Word file and uploaded through the TurnItIn link (View/Complete) by the deadline. No other submission will be accepted.