Project Assignment
Project Assignment #1
1. Describe your topic. What relationship/phenomenon do you want to study?
My topic is the importance of GDP related to variables associated to overall quality of life. The variables I chose to evaluate the quality of life was GDP, GDP per capita, age dependency ratio, birth rate, birth rate, health expenditure, life expectancy and unemployment rate. I took 51 countries using data from 2006. I am trying to see in what ways the GDP effects countries in other areas of well-being.
2. Why is this topic interesting and important? How does studying this issue provide insights into other areas of economics and business? Give several examples.
This topic is interesting in that it shows how GDP can affect countries …show more content…
I selected my countries by going through the list of countries they had available to choose from and I chose the countries that looked somewhat familiar hoping that the data would be available for them through the databases. I selected this sample because I wanted to be able to find reliable data, so it was not completely random.
4. Describe your dataset and each variable. Are you using cross-sectional, time-series, or panel data? What type of variable is each variable? What units are each variable measured in? Is the variable discrete or continuous? Is the variable cardinal or ordinal? If a variable is categorical, provide the coding scheme used to convert it to a dummy …show more content…
I feel that GDP is a good reflection of the country’s quality of life, because it ultimately is the dollar that makes that world go round. I am predicting that the higher the GDP the higher the other independent variables that I connected to quality of life. I do not have a primary independent variable for this project but the variables I will stress when drawing conclusions on the data will be life expectancy and unemployment. I feel like these two variables have a significant say in quality of life, in that the higher the GDP the lower the unemployment rate and the higher the life expectancy. The GDP per capita should go up as the GDP goes up that should go without saying. I expect that age-dependency ratio to be lower as GDP rises. I would expect the birth rate to rise as GDP falls having a negative correlation. The health expenditure should go up as GDP rises as a product of having more
1. Describe your topic. What relationship/phenomenon do you want to study?
My topic is the importance of GDP related to variables associated to overall quality of life. The variables I chose to evaluate the quality of life was GDP, GDP per capita, age dependency ratio, birth rate, birth rate, health expenditure, life expectancy and unemployment rate. I took 51 countries using data from 2006. I am trying to see in what ways the GDP effects countries in other areas of well-being.
2. Why is this topic interesting and important? How does studying this issue provide insights into other areas of economics and business? Give several examples.
This topic is interesting in that it shows how GDP can affect countries …show more content…
I selected my countries by going through the list of countries they had available to choose from and I chose the countries that looked somewhat familiar hoping that the data would be available for them through the databases. I selected this sample because I wanted to be able to find reliable data, so it was not completely random.
4. Describe your dataset and each variable. Are you using cross-sectional, time-series, or panel data? What type of variable is each variable? What units are each variable measured in? Is the variable discrete or continuous? Is the variable cardinal or ordinal? If a variable is categorical, provide the coding scheme used to convert it to a dummy …show more content…
I feel that GDP is a good reflection of the country’s quality of life, because it ultimately is the dollar that makes that world go round. I am predicting that the higher the GDP the higher the other independent variables that I connected to quality of life. I do not have a primary independent variable for this project but the variables I will stress when drawing conclusions on the data will be life expectancy and unemployment. I feel like these two variables have a significant say in quality of life, in that the higher the GDP the lower the unemployment rate and the higher the life expectancy. The GDP per capita should go up as the GDP goes up that should go without saying. I expect that age-dependency ratio to be lower as GDP rises. I would expect the birth rate to rise as GDP falls having a negative correlation. The health expenditure should go up as GDP rises as a product of having more