Choose a country OTHER THAN the US.
Using Economic Freedom Index (EFI) at https://www.heritage.org/index/rankingLinks to an external site., answering the following Links to an external site.How free is the country you chose? Is it “free, “mostly free,” “moderately free,” mostly unfree” or “repressed”? [If the country you chose is “unranked,” chose a different country]
- Explain how your country’s overall points changed since the last report (this info is on the main page, not the country specific page)? Is it more free or less free than it was?
- Using the country-specific information (click on your country), what factors could your country improve on? What is it doing well? How do this country’s decisions about its institutions (form of government, rule of law, economic system) inform you about its EFI rank?
- Using the same country you chose above, analyze its imports and exports. Write a short answering the questions below:
- What are the country’s main imports and exports? [Cite your source, several suggested website are listed below].
- What characteristics do you believe give the country a comparative advantage in the production of its main exports?
- What characteristics do its trading partners have that give those other countries a comparative advantage in producing your country’s imports?
- What percentage of your country’s GDP is comprised of imports? Of exports?
- Potential sources:
- The Observatory of Economic Complexity has a lot of useful information about a country’s imports and exports. You can access it here: https://oec.world/en/rankings/country/eci/Links to an external site.Links to an external site.
- An excellent source of information about exports and imports as a percentage of GDP is the World Bank. You can find its data here: https://data.worldbank.org Links to an external site.Links to an external site.. Once in a country’s page, clicking on Country Profile will give you lots and lots of data! [These links are acting up – thanks World Bank! – so try these instead…. Imports: https://data.worldbank.org/indicator/NE.IMP.GNFS.ZSLinks to an external site. Scroll down to choose your country and go up to see the data. Exports: https://data.worldbank.org/indicator/ne.exp.gnfs.zs?end=2021&start=1960&view=chartLinks to an external site.