ECON 221: MACROECONOMICS IN THE WORLD ECONOMY
The Country Project consists of two parts: (i) Data Analysis and (ii) Policy Recommendation.
Part One: Data Analysis
- You will use data from the IMF’s World Economic Outlook (WEO) database. Currently, the latest edition is October 2010. To access the dataset, go to
Alternatively, follow the path:
IMF web page (www.imf.org) ? Data and Statistics ?
World Economic Outlook Database for October 2010 ?
Download WEO data: By countries (country-level data)
- Select one of the “Advanced Economies” or one of the “Emerging and Developing Economies”. Collect available data series for the 5-year period 2004-2008. Analyze the data focusing on the presentation of major macroeconomic variables: real GDP growth, inflation, unemployment, government budget, current account, etc.
Part Two: Policy Recommendation
- Identify one macroeconomic problem that you think is the most pressing (i.e., low growth, high inflation, a large deficit, etc) for the country of your choice.
- Suggest fiscal or monetary policies that can address this problem. Use the IS/LM/FE and/or the AD/AS models to derive the short-run and long-run effects of these policies on the identified problem and on the rest of the macroeconomy.