Use data obtained from the IMF World Economic Outlook
Note that you might also collect this data from the Thomson Reuters Database if you are
familiar with this, the source is the same.
Choose one of the ‘advanced economies’* and China and collect the following data:
 Gross domestic product at constant $US prices as a percentage change for the periods
2010 to 2022.
 Inflation, average consumer prices as a percentage change for the periods 2010 to
2022.
 The volume of imports and exports of goods and services as a percentage change
between the periods 2010 to 2022.
 Current account balance in U.S dollars between the periods 2010 to 2022.
 General government total expenditure as a percentage of GDP for the periods 2010 to
2022.
 Output gap in percent of potential GDP for the periods 2010 to 2022.
Figures should be shown to two decimal places.
Complete the following tasks
1. Carefully explain what each variable is and briefly describe how it is collected by
statistical agencies and calculated. (20 MARKS)
2. Present clear and accurate graphical representations of each variable (for both
countries on each chart). Referring to the academic literature, compare and contrast
the experience of China (e.g., how the Chinese economy is performing) and your
chosen country. Have proper regard for the Harvard referencing system. (30
MARKS)
3. Apply appropriate theoretical frameworks to analyse the impact on the Chinese
macro economy of the Bank of China’s decision to keep the key lending rate
unchanged in Feb 2023. Then evaluate the likelihood that such a policy can spur
economic growth in the Chinese economy. (50 MARKS)