BUS102 - Economics For Business Assignment

Assignment Task

Goal: To demonstrate knowledge and application of macroeconomic principles.

1. Country Selection: Select one country ONLY from the following list

• New Zealand
• Canada
• Japan
• Great Britain.

2. Data Collection: The data will cover the following ten-year period: 2014 to 2023.

• Source the data of four key macroeconomic indicators for your chosen country (key indicators include GDP, inflation and unemployment)
• Use reliable sources such as government agencies, central banks, or international organisations (e.g., IMF, World Bank, OECD).

3. Data Presentation:

• Provide appropriate figures (e.g., line graphs, bar charts) to illustrate the trends of these indicators over time.

Note: The figures should be visually appealing, easy to understand and correctly labelled.

4. Data analysis

• Analyse the data in the figures to identify any significant patterns, trends and issues.

5. Living Standards Evaluation

It has been argued that “Traditional macroeconomic measures such as GDP play an important role, but they only provide a partial view of a community’s living standards. They do not incorporate social or environmental outcomes or show whether certain groups are getting a fair share of national opportunities and prosperity. Indicators that measure broader quality of life factors should be considered in addition to, not instead of, traditional macroeconomic measures” 

Choose one indicator that you think would be important to measure to evaluate the quality of life in the chosen country. Explain in your own words why you consider this indicator important and carefully define it. Source and graphically present data on your chosen indicator and comment on the changes over the last five years for the selected country.

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