RMIT Classification: Trusted

Macroeconomics 1 - ECON 1192 - Individual Problem Set 1

Deadline: Friday Mar 22nd 2024, 23:59, GMT + 7
Word count: 600 words maximum (data excluded). Deduct 1 mark for each 100 words exceeding the
limit. For this Assignment, all data and graphs, including tittles and sources, are excluded from word
count).

Late submission: 1 day late will lead to 10% x 10 marks = 1 mark deduction.

a. Do research about the economic performance of two countries: a country/territory with the name starting
with the same letter as your first name, e.g. Ben– Brazil, Van – Vietnam, and the other has the same name
starting with the same letter as your last name (or middle name in case first name and last name start with the same
letter) e.g Nguyen – Nigeria, Smith – Spain.
Download the following data for each country: economic growth, GDP per capita (in USD) and their CO2
emissions per capita (metric ton) over 2000-2022.
Suggested sources: World Bank data https://data.worldbank.org/. )
• Present them in graphs.
• Briefly comment on the changes in GDP per capita and CO2 emissions over time for each country,
and implication of such changes.

b. Identify the choices countries face and the opportunity costs involved. Compare and contrast between the
two countries, relating to their different resources and economic development level.
Suggested reading: https://openstax.org/books/principles-economics-3e/pages/12-6-the-tradeoff-
between-economic-output-and-environmental-protection

c. Illustrate the choices in part b with one PPF diagram for each country. Make sure in each PPF diagram,
you label the 2 axes properly, draw the PPF curve in 2023, show the point where the country chose, and
explain the position of the point (ie. relatively closer to which axis, above/below/along the PPF curve, and
why). Note that no specific number is required for the drawing of PPF.

d. Read about HDI. Compare the GNI per capita rankings and HDI rankings in 2022 between the two
countries. Which country performs better according to each indicator, and explain why.
Suggested sources: http://hdr.undp.org/en/composite/HDI

2marks +3marks+2marks+3marks =10 marks