Case Study
Instructions:
1. Visit the website to access national data for different countries around the world at TheWorld Factbook at https://www.cia.gov/the-world-factbook/countries/
2. You have been provided economic and population data for the USA in the table below. 3. To complete this table, you need to choose any 2 countries to compare their 2019 data. To help you choose your country, here are the guidelines:
a. Choose your country #2 that adopts a socialist or centrally planned economyb. Choose a country #3 that adopts a market economy. 4. To answer the questions outlined below, take note of these steps:
a. Get Population data from People and Society tab. b. Access Economic data from Economy tab. c. Know the type of government or economy from the Government tab. 5. You are encouraged to use graphs for better visual presentation. 6. Submit in D2L Dropbox for Case Studies. 7. Maximum number of pages: 10. Single-spaced. You can adopt a Q&A format in writingyour
report. Add the reference section. 8. Due date: April 22, 2022 at 11:30 PM
9. Maximum points: 15. Take note that your case study contributes 5% to your total grade. 10. Refer to the Rubric for Case Studies for the grading criteria. The following information reflect the 2019 demographic and economic data of USA. If the2019figures are not available, you can use the latest available data. Fill in the correspondingdatafor
Country #2 & Country #3. You will compare the economic performance of these 3 countriesinthe questions below. USA Country #2 Country #3Population 334,998,398
Real GDP $19.84 trillion
Population growth rate 0.7%
Unemployment rate 3.89%
Inflation rate 1.8%
Real GDP growth rate 2.16%
Labor force 146.128 million
Exports $2.127 trillion
Imports $2.808 trillion
Budget surplus (+) or deficit (-) of GDP -3.4%
Population below poverty line 15.1%
Public debt of GDP 78.8%
Taxes and other revenues of GDP 17%
Electrification to total population 100%
Internet users as % of population 87.27%
Current Health expenses of GDP 16.9%
Education expenses of GDP 5%
Military expenses of GDP 3.73%
Source: Central Intelligence Agency, www.cia.gov (date accessed Nov 4, 2021)
Answer all questions as completely as possible taking the point of view of an economicpolicymaker. Review your answers before submitting. Make sure your answers arenot
contradicting and are supported by the economic data you provided. Take note that you will be comparing three nations. Be thorough in your analysis. 1. Briefly explain the reasons for choosing these 2 other nations for your research. 2. Briefly describe each country’s type of economic systems. State when did the countryshifted between market economy to a socialist type, or vice versa, and if applicable. 3. Evaluate if the key economic indicators (e.g., real GDP, inflation and unemployment) of
each nation are within the expansionary stage in the business cycle. 4. Compare the real GDP and compute for the real GDP per capita for each country. Becreative to use any graphing tools for visualization. 5. Describe the GDP composition by sector of each country. What %of GDP is contributedby these sectors: agriculture, industry, and service. What sector is the major driver of
each country’s GDP?
6. Discuss the component of net export in each country’s real GDP. Which country
sustained a trade surplus or deficit in 2019?
7. As a policymaker, make a general observation on any differences you can see basedonthe economic figures between these 3 countries’ expenditures on: education, publicdebt
financing, current health, and military. 8. Based on your data gathering, cite at least 2 key recommendations that you will suggest
to the leaders of each of these countries to accelerate their economic growth.