Economic Statistical Report: The global influence of the changes in a Country’s economic indicators
Economic Statistical Report: The global influence of the changes in a Country’s economic indicators
Written By: Haydn Rees
Written for: Hossein Hassani
Date of Submission : 30/04/2012
Word Count (Without contents, References and Title page): 2,497
Contents
1.1 - Introduction – Page 3
2.1 – Data set, Annual GDP % Change Comparisons – Page 3
2.2- The mean – Page 3
2.3- The Median – Page 4
2.4- Histograms – Page 4
2.5- The Range – Page 5
2.6- Simple Linear Regression – Page 6
3.1- Time series analysis – Line Graph (Cyclical) – Page 8
4.1- Conclusion – Page 8
5.1- References – Page 9
1.1 Introduction
In this report I will use data compiled from the IMF displaying one economic indicator taken from 2 more economically developed countries (MEDCs), which are highly dependent on one another. I will use the time frame of 1980-2009 to see the effects that a normal economic cycle has on one country’s economic indicators, and if those effects can affect another’s, either directly or indirectly. The economic indicator I will be studying is the country’s GDP annual percentage change. With many economically developed economies becoming increasingly interdependent, the general assumption is that if one economy falters, then others will feel an adverse knock on effect of that country’s economic difficulty.
2.1 Data set – Annual GDP % Change Comparisons
The descriptive statistics below show the % change in both countries annual GDP figures, starting in 1980 up to 2009, as seen in Figure 1. This is an example of continuous data, which is data that can take on an infinite number of different values. All data is different on an annual basis, this therefore makes all data for both countries ungrouped. (Source – IMF Statistics World Economic Outlook Database, October 2008).
Statistics
UK
USA
Number of entries
30
30
Mean
2.3215
2.7764
Median
2.7880
3.1315
Std. Deviation
Written By: Haydn Rees
Written for: Hossein Hassani
Date of Submission : 30/04/2012
Word Count (Without contents, References and Title page): 2,497
Contents
1.1 - Introduction – Page 3
2.1 – Data set, Annual GDP % Change Comparisons – Page 3
2.2- The mean – Page 3
2.3- The Median – Page 4
2.4- Histograms – Page 4
2.5- The Range – Page 5
2.6- Simple Linear Regression – Page 6
3.1- Time series analysis – Line Graph (Cyclical) – Page 8
4.1- Conclusion – Page 8
5.1- References – Page 9
1.1 Introduction
In this report I will use data compiled from the IMF displaying one economic indicator taken from 2 more economically developed countries (MEDCs), which are highly dependent on one another. I will use the time frame of 1980-2009 to see the effects that a normal economic cycle has on one country’s economic indicators, and if those effects can affect another’s, either directly or indirectly. The economic indicator I will be studying is the country’s GDP annual percentage change. With many economically developed economies becoming increasingly interdependent, the general assumption is that if one economy falters, then others will feel an adverse knock on effect of that country’s economic difficulty.
2.1 Data set – Annual GDP % Change Comparisons
The descriptive statistics below show the % change in both countries annual GDP figures, starting in 1980 up to 2009, as seen in Figure 1. This is an example of continuous data, which is data that can take on an infinite number of different values. All data is different on an annual basis, this therefore makes all data for both countries ungrouped. (Source – IMF Statistics World Economic Outlook Database, October 2008).
Statistics
UK
USA
Number of entries
30
30
Mean
2.3215
2.7764
Median
2.7880
3.1315
Std. Deviation
References: Bowen, E and Starr, M. (1982). Data summarization: Measures of central tendency and variability. In: Starr, M Basic Statistics for Business and Economics. Japan: McGraw-Hill. 68-79. Bowen, E and Starr, M. (1982). Simple Linear Regression and Correlation. In: Starr, M Basic Statistics for Business and Economics. Japan: McGraw-Hill. 391-393 Burton, G, Carrol ,G and Wall, S. (2002). Central Location and dispersion. In: Burton, G, Carrol ,G and Wall, S Quantitative Methods for Business and Economics. 2nd ed. Essex: Pearson. 30-39. Burton, G, Carrol ,G and Wall, S. (2002). Data presentation and collection. In: Burton, G, Carrol ,G and Wall, S Quantitative Methods for Business and Economics. 2nd ed. Essex: Pearson. 1-5. Burton, G, Carrol ,G and Wall, S. (2002). Regression and Correlation . In: Burton, G, Carrol ,G and Wall, S Quantitative Methods for Business and Economics. 2nd ed. Essex: Pearson. 51-52. N/A. (2008). Report for Selected Countries and Subjects. Available: http://www.imf.org/external/pubs/ft/weo/2008/02/weodata/weorept.aspx?pr.x=66&pr.y=6&sy=1980&ey=2011&scsm=1&ssd=1&sort=country&ds=.&br=1&c=112%2C111&s=NGDP_RPCH&grp=0&a=. Last accessed 30/04/2012.