GLOBAL ECONOMY SHORT REPORT
The report title is: A BRIEF ASSESSMENT OF THE PATH OF INFLATION IN X [name of the country).
Aim: To assess the factors contributing to the path of inflation in country X.
Submission Deadline: One electronic copy submitted through StudyNet by MONDAY 15 November 2021 23.59 Assessment weight: 25 per cent of the final module mark.
Structure and Content of Your Report
● Word length 350 words (plus or minus 10%). Structure of the Report
● 1: Introduction
State briefly the purpose and significance of the report [word guidance 30 words]
● 2: The Inflation Path
- Briefly describe the pattern of inflation over the period 2000 to 2021 (using IMF data) and in the year 2021 (use annualised figures, the percentage change in headline consumer prices - one month based on the same month in the previous year). Your description must refer to your Figures 1 and 2 and to Table 1 (extracted from the websites for the IMF and Trading Economics, and labelled as Table 1, see examples below)
[Word guidance -excluding any words in Table 1 and Figures 1 and 2, 40 words]
● 3: Assessment of the factors contributing to the trajectory of inflation in 2021
- This should comment briefly on the supply and demand-side factors contributing to the trajectory of inflation in 2021 (see Paper on Inflation on the module website in the UNIT Economies – Explanation). At least three factors should be mentioned on each of the supply and demand-side which you consider to be important in the country chosen and which you are able to justify with references or data (such as data on savings, retail sales, wages etc). Some mention should also be made of any contribution from monetary and fiscal policy. (Word guidance 250 words).
● 4: Conclusion
Based on the assessments in your report, write a brief reasoned statement on the path you expect inflation to take in the coming twelve months [Word guidance 30 words]
• Presentation of Material: The report must be presented in standard report format with a clear heading, followed by your student number. DO NOT INCLUDE a title page, list of contents or appendices. The Table and Figure must be presented as in the example below. The Table and Figure must come after the written description in section 2 – The Inflation Path.
The sub-sections listed above must be used and numbered as above.
A list of references in alphabetical order must follow the Conclusion. The report must be paginated. The Figure and Table must be numbered with titles and data sources. On the Figure, the axis units must be clear either on the axes or from the title). Presentation of Graphics (see below). A line chart should be used.
Word length is subject to a tolerance of plus or minus 10 per cent -with cumulative 10 per cent penalties being applied for every 10 per cent outside this range). The list of references, words used in Figures and Tables and quotations do not count towards the word totals. As normal, plagiarism will be penalised.
Note: Check ‘Trading Economics’ website before deciding on your chosen country to ensure the data is available
IMF (2021) World Economic Outlook, October, chapter on Inflation, International Monetary Fund, Washington DC. https://www.imf.org/en/Publications/WEO
Use the data from the International Monetary Fund, World Economic Outlook, October 2021
Go to imf.org, select data from the toolbar at the top of the page and then database, select World Economic Outlook Database, October 2021
You can go straight to this page using the link: https://www.imf.org/en/Publications/WEO/weo- database/2021/October
Interrogating the IMF World Economic Outlook database
i) Select ‘By Countries’(click on this)
ii) Click on the country group in which your country will be found
iii) use the button CLEAR ALL to clear all the countries, then select (+) the country you have chosen, click the button CONTINUE
iv) Choose the variable you are interested in, scroll down until you find Inflation, average consumer prices per cent change, select and then press CONTINUE
v) Select the time period (Range), enter Start Year 2000 and end year 2021
vi) Press the button PREPARE REPORT
vii) Press the button DOWNLOAD REPORT to download to and Excel spreadsheet
viii) Delete the columns A to E and X and Y, this should leave you with just the date for 2000 to 2021
ix) Highlight column A and use the right button on your mouse to insert a new blank column A
x) Choose Insert from the toolbar and insert a line graph,
xi) Ensure the chart box has a solid line around it by highlighting the chart area and selecting format chart area – solid line
x) Copy and paste the chart into your word document and add the Figure number, title and source
Figure 1: Inflation in (X) 2000 to 2020 (annualised % rate)
Source: IMF 2021
Inflation in 2021: Use the data provided by Trading Economics https://tradingeconomics.com/nigeria/inflation-cpi
For most countries you should be able to find the data you require by Substituting the name of the country you have chosen for ‘nigeria’ otherwise just search Trading Economics and Inflation and (name of the country you have chosen)
Put the data into a Table as below
Table 1: Headline Consumer Price Inflation, in 2021 in [country X]
Source: Trading Economics
Creating the Graphic: For the graphic in Excel follow the following steps
i) Open a new spreadsheet
ii) starting in cell B2 add the labels, Jan, Feb, Mar, Apr etc in the cells B2, B3, B4, etc (leave cell A1 blank)
iii) In cells B3, B4 etc enter the inflation rates taken from Trading Economics
iv) enter Inflation rate into cell A2
v) Highlight the cells you wish to use for your graphic
vi) Select INSERT from the tool bar at the top of the Excel sheet
vii) choose insert line or area chart
viii) choose line chart, the is a simple single line chart
ix) Delete the chart title and ensure the chart box has a solid line by highlighting the chart area and selecting format chart area – solid line
x) Copy and paste the chart into your word document and add the Figure number, title and source (Note, with a single variable there is no requirement for a key)
Figure 2: Headline Consumer Price Inflation in 2021 in (country X)
Source: Trading Economics, accessed x.x.x
Note: As above, all Figures and Tables must have a Figure/Table number and title next to the number They must have a source for the data. The axes must be clearly labelled. A key is not necessary with one variable
References (the full reference must be given in this list)
IMF (2021) Economic Outlook database, October, International Monetary Fund, Washington DC. Trading Economics (2021) copy the web address, then accessed X.X.X