Michael Lindbloom Economics 211 Fall 2017 Term Paper Introduction Background on Ireland..what is the country, where is it, how long has it been a country, what are the main economic drivers (imports? Exports? Manufacturing? Tourism) Breakdown of population This is a research paper on the macroeconomics of Ireland. In this paper I will discuss major macroeconomic variables for Ireland between the years 2000 and 2010. The first part analyzes GDP, the second analyze…. Here we go… Body To examine the macroeconomics of Ireland, first we look at GDP. Examining Graph 1 shows that in 2000, Ireland’s real GDP was $165billion. This number increased…. 4-6 paragraphs Conclusion In this paper we looked at major macroeconomic variables for Ireland between 2000 and 2010. We found that some fundamental macroeconomic relationships hold over this time period. For example, unemployment went up during the great global financial crisis at the same time that GDP went down. ….etc… Appendix Graph 1: Ireland Real GDP 2000-2010 (2010 US $) Real GDP 2.5E+11 2E+11 1.5E+11 1E+11 5E+10 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Elmhurst College Economics 211 – Fall 2017 Course Paper Guidelines Paper Due: Friday, December 1st, 2017 In this course, we will learn some basic concepts that can be used as tools to analyze an economy’s state of affairs. The three big variables that macroeconomists use when attempting to do this are: (1) GDP, (2) Inflation, and (3) Unemployment. By the end of the semester you should be comfortable discussing the implications of these variables, where they come from, and why they are important. Many macroeconomic questions and concerns can be related back to these three primary variables. For example, if we are interested to know about the major industrial products of a particular country, that can fall under the subset of GDP. Or if we are interested to know how many college graduates have been able to find jobs over the past five years, generally speaking that is unemployment data. Or how is the exchange rate of a country related to the prevailing interest rates that borrowers are facing? This can be linked to inflation. Thus, you are tasked with writing a 3-5 page paper of written analysis and additional pages (as many as needed) of graphs and tables, analyzing macroeconomic variables of a country of your choosing. Be sure to pick a country for which there is readily available data. To complete this assignment you will need to collect data from the years 2000-2010 on the following variables: • Real GDP • Growth rate of real GDP • Real GDP per capita • Growth rate of real GDP per capita • Population • Population growth rate • Unemployment rate (Unemployment, total • Inflation rate After you have collected this information and compiled it into a nicely formatted and easy to read table, graph each of these variables with time on the x-axis and the variables’ values on the y-axis. These data pages should be attached to the end of your paper in something that resembles an appendix. In the written portion of the paper, you should first briefly introduce the country that you have chosen (i.e. geography, history, culture, language, etc.). Next, use several paragraphs to complete the following analyses: 1. Discuss the relationship between GDP, GDP per capita and population growth rate. Start with your hypothesis about what you expect this relationship to be, and why. Be sure to reference your “appendix” that includes the data, charts, and tables. 2. Discuss the relationship between the unemployment rate and the rate of economic growth. Start with your hypothesis about what you expect this relationship to be, and why. Again, use the appendix data to support your discussion. 3. Discuss the relationship between inflation and the rate of economic growth. Start with your hypothesis about what you expect this relationship to be, and why. Reference your data. 4. How globally linked is this country. More specifically, the years you are analyzing (2000-2010) include a major global recessionary period, so do see evidence of this in your country? Finish your paper with a concluding paragraph that summarizes the main findings of your analysis, as well as your own personal outlook for the future of the country’s economy. Good sources of data can be found in many places, but to get you started, try these first: • The CIA World Factbook: o Great general resource to get you started and find information about your country’s current economic situation • World Databank (databank.worldbank.org) o You will need to use the World Databank to get the information about how your country’s economic variables have changed over time. Formatting guidelines: • 11-point font, either Calibri (Body) or Times New Roman • 1-inch margins universally around the page • 1.5 spacing between lines AND paragraphs • Heading can be whatever format you choose, but I will not count that as part of the 3-5 page written page requirement
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