- conduct data analysis of GDP growth and Exports of goods and services of USA.
- the main body of report cannot exceed 3 pages after excluding the references page.
The report should be written in an executive summary style and have the following 5 components:
Set up hypothesis(es) for the effect of each independent variable on the dependent variable. For instance, if you have two independent variables, you should have two hypotheses. Provide relevant explanations/theories to justify each hypothesis. Use of any external source for justification should be cited.
- Dependent variable (GDP Growth%)
Choose ONE variable from any public data source as the dependent variable. State your data source in your report.
Examples of public data sources:
World Development Indicators
Data from: https://databank.worldbank.org/source/world-development-indicators#\
- Independent variable (Exports of goods and services (annual % growth))
Choose at least ONE variable (at most FOUR variables) from any public data source as the independent variable(s). State your data source(s) in your report.
Collect data on the dependent and independent variable(s). Your sample should have at least 100 pairs of non-missing observations. Below is an illustration.
Suppose that you study the determinants of inflation rate for a selected country (or economy) and your report consists of one dependent variable (Inflation rate), two independent variables (Money supply & Output gap), and you are using quarterly data. In this case, one pair of observations refers to the observations on the inflation rate, money supply, and output gap in a given quarter. Your sample should have at least 30 non-missing pairs of observations.
You should justify your choice of the sample period. However, you are encouraged to use all available data for your analysis.
Discuss how to manage your data, if necessary, e.g. how to deal with extreme observations/missing observations, how to make your data comparable across counties, etc. Use a table to display simple descriptive statistics of your sample, such as each variable’s mean and standard deviation.
- Methodology and findings
Specifiy and discuss your empirical method, e.g, t-test on difference in means, correlation, regression model, etc. You should analyse your collected data using Excel.
Use table(s) to report the main finding(s).
For each hypothesis, briefly explain why it is supported or not supported by the empirical results. You have to explain if your findings do not support your hypotheses.