8317 and country for every year. Compare them on a graph. Step 7: Calculate the real GDP Per Capita Growth Rate for your state and country for every year. Compare them on a graph. What do you notice? Step 8: Write a report that describes your data and any patterns you observe. This should be a word document. Include the graphs you made to illustrate your analysis. You should have at least one paragraph describing each graph. The graphs should appear in the body of the document. Include a map of your state and country in the document. Describe the size of each region (you will have to look that up on your own). Upload both your Excel le and your Word document. Save your word le according to the format below: \"ECO N202523_801_GDPMapRepo rt_YourLastName_Yourl Find your assigned state in the Excel document under the "Student State Assignments" tab. B bsu.instructure.com 8:17 Figuring out how to do the calculations and graphs in Excel will be difficult. Youtube is your friend. US States Renamed for Countries with Similar GDPs (2017) GDP ($Millions) Iran $30,000M $2,800,000M Uzbekistan Croatia Israel Libya Slovenia Denmark Panama Egypt Ethiopia Myanmar Tunisia Austria South Korea Greece Belgium Morocco Saudi Arabia Uruguay Nether- Argentina Hungary Qatar lands U.A.E. Bangladesh Ireland Guatemala -Taiwan Kazakhstan Pakistan United Oman New Zealand Thailand Kingdom Iraq South Africa Poland Norway Singapore Slovakia Kuwait Portugal Angola (DC) Ukraine Venezuela Sweden Canada Tanzania Finland Indonesia Sri Lanka Sources: Bureau of Economic Analysis and International Monetary Fund Carpe Diem Al Consider this map. It shows the name of a different country in the place of each state. The claim being made is that the GDP of that state was equal to the GDP of that country in 2017. It is your responsibility to confirm that claim for a particular country-state pair. Before you get started I recommend you watch this tutorial video. Ex AA bsu.instructure.com C VStep 1: Download the data. ECON202F22_801 GDPMapAssignment.xIsx &, I have prepared an Excel file with all of the data necessary here. Step 2: Create a new Excel file with only the data for your state and country, all in one worksheet. It should look like this: Real GDP In USD P Year NGDP State CPI state country S 1963 # # # # calc # # # 1964 calc 1965 calc ## 1966 calc # # 1967 calc # # 1968 calc # # 1969 calc # # # Input the values for your state and country where the ## are, The cells that say "calc" are going to require you to do a calculation. Caun your Evcal fila ac. bsu.instructure.com8317 Step 3: Calculate the Real GDP for your state for every year since 1963 into 2019 dollars (You will need to refer back to the textbook to remember how to calculate Real GDP from Nominal GDP using the CPI. NOTE: The data for your state is reported in terms of millions of dollars. You will have to multiply the data given by 1,000,000 before comparing it with your country! The GDP data for your country is already reported in real terms of 2019 dollars. Step 4: Create a graph in Excel comparing the Real GDP for your state with the Real GDP of your country for every year that you have data. Both the state and country data should be on the same graph, with one line on the graph for each. For every graph, make sure that you label your graph and that the axes of your graph match your data. Step 5: Create a graph comparing the population of your country to the population of your state. Step 6: Calculate the Real GDP per capita for your state and country for every year. Compare them on a graph. Step 7: Calculate the real GDP Per Capita Growth Rate for your state and country for every year. Compare them on a graph. What do you notice? Step 8: Write a report that describes your data and any patterns you observe. This should be a word document. Include the graphs you made to illustrate your analysis. You should have at least one paragraph describing each graph. The graphs should appear in the body of the B bsu.instructure.com Important notes: I. The data for state level GDP is given in nominal values in terms of millions of dollars. To correctly compare the state gures with the country gures you will need to multiply the state Real GDP by 1,000,000. If you fail to do this I will notice immediately and your results won't make sense. II. I am not asking you to calculate the natural log of real GDP per capita this semester, so you can skip that part. III. You can nd a good formula for converting nominal GDP to real GDP by re-watching this video Em Also, remember that this course is part of the business school. Review the expectations of professionalism. AA 8 bsu.instructure.com G m [I]