Collect and Interpret Data on Long Run Economic Growth for Australia - Economics Assignment Help

Assignment Task:

Task:

Intro Macro: Assignment #2 2 
LONG RUN GROWTH 
In this assignment you will collect and interpret data on long run economic growth for Australia and a number of other countries. The best data for this purpose is the Penn World Tables (PWT) as dicussed below. 
Task #1 Australia (9 marks). Use the Penn World Tables website htt ps:/ /www.rug.nliggdc/productivity/pwt to download annual data covering the period 1950-2019 for the following variables 
(I) real GDP [use 'output-side real GDP at chained PPPs (in mil. 2017US5)1 (ii) population (iii) employment (iv) average hours per worker (v) the capital stock [use 'capital stock at current PPPs (in rail. 201711SS)'[ 
Use a spreadsheet program to plot the levels of real GDP per person, real GDP per worker, real GDP per ham, and capital per worker for the Australian economy from 1950. Calculate and report the average annual growth rate of reel GDP per worker, real GDP per person, real GDP per hour, and capital per worker over the whole sample and over each decade (1950s, 1960s, ..., 2010s). When did labour productivity grow quickly? When did it grow slowly? Has the Australian economy become more or less capital-intensive over this time? 
 

Task #2 International Comparisons (6 marks). Choose three from the following five countries 
• China

• India

• Japan

• South Korea

• United States 
 

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