Understand how to merge data from various sources, undertake policy analysis, and generate policy briefs. This assessment is linked to the following Course Learning Objectives (CLOs): Manipulate economic models to analyse real world issues in international trade. Analyse the fundamental determinants of the size and pattern of trade to verify its determinants and its effects on the wider economy/welfare. Compare and contrast economic and political conditions in poor and rich countries to critically assess the incentives and consequences of trade liberalisation globally. Assess the impact of protectionist policies on the welfare in rich and poor countries to decrypt the political economy of trade reform. Assessment Declaration: I declare that in submitting all work for this assessment I have read, understood and agree to the content and expectations of the Assessment declaration (Links to an external site.). Details: Instructions for submission: Click on Submit Assignment. Click on Choose File. Once you selected your file containing your assignment, click on Submit Assignment at the bottom. To answer the assignment questions first get the data follow these steps. This assignment requires you to obtain data from two (2) countries of your choosing over the period 1985-2005. Obtain country-level data on trade (% GDP) and GDP per capita (constant 2010 US$) from the World Bank’s World Development Indicators (http://databank.worldbank.org/data/source/world-development-indicators (Links to an external site.)). Obtain data on industrial pay inequality difference from UTIP-UNIDO (http://utip.gov.utexas.edu/data.html (Links to an external site.)). Merge the data using Excel. It is up to you to figure out how to do this! The data does not need to be for the same countries as in Assignment 1. It is up to you what countries you use. DO NOT attach Excel files to the assignment. Keep explanations brief. Policy analysis in applied economics has to be brief. Be precise and to the point, avoid jargon. Assignment 2 (25% of your final grade) QUESTIONS: *** Follow the instructions above on how to get the data. *** See Chapter 6 and/or Lecture 6 notes for references. 1. Using data from two countries, plot openness versus Industrial Pay Inequality (from UTIP-UNIDO) for each nation. Use two graphs, one for each country. IT’S UP TO YOU TO FIGURE OUT HOW TO DO THIS. (8 marks) 2. Using data from the two countries, calculate the correlation (using excel) between openness and Industrial Pay Inequality (from UTIP-UNIDO) for each nation, respectively. Report and interpret this relationship in approximately 300 words. [Hint: The Theil Index is used as a proxy for the ratio of skilled to unskilled wages in empirical studies]. DO NOT ATTACH YOUR DATA TO THE ASSIGNMENT. (7 marks) 3. Explain carefully in approximately 500 words whether your data agrees or disagrees with the Stolper-Samuelson Theorem. (Remember to accurately define the theorem and discuss how it applies to your countries). (10 marks).
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