Cross-country GDP Comparison Paper
In this assignment, you will be asked to apply your knowledge of Real Gross Domestic Product (Real GDP) and its component parts to perform a cross-country comparison using time-series data. This assignment is used to assess the following Program-Level Learning Objectives (PLLOs) in the Bachelor of Science in Business Administration program:
LO1: Demonstrate proficiency in all functional business areas (macroeconomics)
LO2: Demonstrate appropriate information technology and information literacy skills
LO6: Communicate business findings and solutions through effective writing, oral presentations, and graphical illustrations.
LO8: Evaluate socio-cultural and international diversity variables in business decisions
Your final paper will have two parts:
Part 1: Data Visualization
In this section, you are to research, compile, and display Real GDP and its primary components (Consumption, Investment, Government Spending, and Net Exports) from the United States and two comparison countries of your choice. When choosing your countries, you are to choose one country from Europe and one country from outside of Europe. Collect the data for the post-WWII era (1945-current). Compile the data in an MS Excel Spreadsheet. Use MS Excel to create four time-series graphs: one graph for each country that illustrates the path of GDP and its components over time, and a fourth time-series graph that illustrates the time path of Real GDP for all three countries (on a single set of axes). A Microsoft Excel tutorial will be provided. Please review the tutorial before starting the assignment.
Suggested search terms to aide in finding the data you need: St. Louis Federal Reserve FRED Economic Data (US data primarily), Organization of Economic Cooperation and Development (OECD), International Monetary Fund (IMF), World Bank.
Part 2: Analysis
In this section, you are to analyze the data you have collected in Part 1. Specifically, you should compare and contrast the time-series data from the three countries. You should strive to use a combination of economic theory and historical events (broad, general history, extensive research not expected) to explain why the variables rise and fall the way they do. Why do the variables behave similarly or differently in the different countries? Be sure to include a discussion of the differences between the short-run and long-run behavior of the variables. You may find that additional research is be needed to shed light upon the driving forces in the economies you have chosen. You should strive to write the analysis in such a way that someone with limited knowledge of economics can understand it. A basic tutorial on conducting research in the university library will be provided. Please consult the tutorial before beginning the assignment.
Additional Information
Please carefully follow the following instructions when submitting your paper:
The paper must be in Word (.doc or docx) or .pdf form
Note: your paper must include the time-series graphs that you created in Excel (but not all of the data)
Turn in your Excel spreadsheet with the raw data separately
The paper must be presented in a standard 10- to 12-point font, with 1-inch margins, and include APA format citations to any references used
The paper must include a title page that displaying your name, email address, CWID number, your major(s) (and concentration, if applicable) and your minor(s) (if applicable)
The paper must be submitted in the correct D2L Assignments/Dropbox folder by the indicated due date.
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