Economics 207 October 6, 2013
Revised Report #1 Assignment
NameCountry:Date Due
Report 1. Macroeconomic and Demographic Data of (Country Name)
Make up an Excel table(s) for the following time series as illustrated in the table for China assigned along with this homework. Put the World Bank’s formal title at the bottom of the time series. I have checked most of the time series and they are in the World Bank Data Base. For purchasing power parity, use “PPP (constant 2005 international $). You can use shorter names in your column headings if you place the full column heading at the bottom of the column. Exchange rates should be in the IMF data or UN data.
Time Series for Your Country from 1990 - 2010
Various Measures of GDP
1. Nominal GDP from 1990-2010 in local currency units. (LCU)
2. Real GDP in local currency units (be sure to state base year) from 1990-2010.
3. Real GDP growth (% per year). Annual growth rate of real GDP in constant prices of base year in local currency.
4. Real GDP per capita in local currency.
(This may be given in the World Bank data or you will calculate it by calculating real GDP by population)
5. GDP estimated by purchasing power parity method (using 2005 PPP US dollar prices).Real PPP GDP
7. Real PPP GDP per capita.
(This number helps you compare your country’s level of per capita output to other countries.)
Prices
8. Consumer price index (CPI) in local currency.(Be sure to specify the base year. This one is not listed in the example for China)
9. Purchasing power index of country in US 2005 PPP prices.
10. Foreign exchange rate (local currency units per dollar)
Population and Labor Force
11. Total population (in millions or thousands as appropriate).
12. Percentage growth rate of population.
13. Labor force (if available, write down your country’s definition of labor force, noting whether or not it includes children).
14. Percentage of population considered to be in the labor force.
(do a calculation by dividing the labor force by the population)
15. Employment in agriculture. (Percentage of labor force employed in agriculture).
(agriculture includes farming, forestry, fishing and hunting)
Uses of Final Output in Your Country(Be sure to choose a unit of measurement which gives you no more than three significant digits plus a decimal plus one more number so that your table is just not full of illegible or even worse numbers and exponents.)
16. Nominal gross capital formation (investment)(in current prices in local currency)
17. Percent of nominal investment as a percent of nominal GDP (in local currency at current prices)
18. Real gross private capital formation (investment) in constant prices.
19. Nominal consumption by households (in local currency units in local prices)
20. Nominal consumption per capita (in local currency units in local prices)
(divide nominal consumption by population)
21. Nominal consumption as a percent of GDP.
(divide nominal consumption by nominal GDP)
22. Real consumption in constant prices.
(be sure to specify base year prices)
23. Real consumption per capita.
(divide real consumption by population)
24. Nominal final general government expenditures (government spending excluding transfer payments).
25. Nominal final general government expenditures per capita.(government spending divided by population)
26. Nominal final general government expenditures as a percent of GDP. (government spending divided by GDP)
27. Real final general government expenditures.
28. Real final general government expenditures per capita.
29. Annual percent growth of government expenditures.
30. Nominal exports of goods and services.
31. Nominal exports of goods and services as a percent of GDP.
32. Real exports of goods and services. . Or as a volume index
33. Percent growth of real exports of goods and services.
34. Nominal imports of goods and services.
35. Nominal imports of goods and services as a percent of GDP.
36. Real imports of goods and services. Or as a volume index
Written Part of Report for Your Country
Base your answers here on your reading in Wikipedia and the Economists on your country and the concepts developed in the lectures. Write one or two paragraphs about the following.
1. Are the statistics estimates of GDP for your country likely to count all GDP output, for example as counted in the US, and why or why not? Remember that the US method has several weaknesses for example non-reported transactions, inconsistence definitions of what counts as GDP from state to state, etc.
That is are there significant areas of family production and consumption from that production which are not measured by statisticians or standard GDP accounting methodology. Think small villages, unreported output, or illegal goods.
2. Do the estimates of the official labor force accurately measure the labor force in the rural (non-urban) parts of the country? Are there whole villages not completely in the market system? Is there real child labor which is not measured in the official labor force?
3. Does the growth rate of population contribute significantly to the low per capita growth rates of real per capita income?
Sources to look at:
Use Google searches to get more background information, marketization of an economy, rural population, and production for market.
Bloomberg database using the Bloomberg Terminal. (See elsewhere on how to get an account.)
Penn World Table, Center for International Comparisons, University ...penn.edu/ are a good source for anything involving PPP time series
Data | The World Bank at data.worldbank.org/
Important: Since most of the World Bank data will be presented horizontally, you should learn how to transpose it to vertical by year by copying and saving it onto an entirely new worksheet.
Also the databases at the IMF websites and the United Nations websites.
Comments about sources:
1. The World Bank Database should be the source of most of your data
2. Remember that percentage growth rate and percentage shares of GDP and growth rates many have to be calculated by you. Once you master the technique on Excel spreadsheets, it is very simple.