GDP in Relation to Quality of Life

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Project Assignment #1

1. Describe your topic. What relationship/phenomenon do you want to study?

My topic is the importance of GDP related to variables associated to overall quality of life. The variables I chose to evaluate the quality of life was GDP, GDP per capita, age dependency ratio, birth rate, birth rate, health expenditure, life expectancy and unemployment rate. I took 51 countries using data from 2006. I am trying to see in what ways the GDP effects countries in other areas of well-being.

2. Why is this topic interesting and important? How does studying this issue provide insights into other areas of economics and business? Give several examples.

This topic is interesting in that it shows how GDP can affect countries quality of life. It is important to be able to see how the GDP, the amount of production in a country’s given year, can affect other variables that people generally take value in. This topic provides insights in economics and business by showing the amount of economic activity and how it affects people lives in other areas.

3. What is the source of your data? How did you select your sample? Why did you select this sample and not some other sample?

The source of my data was the World Development Indicators website, linked on the Moodle site. I selected my countries by going through the list of countries they had available to choose from and I chose the countries that looked somewhat familiar hoping that the data would be available for them through the databases. I selected this sample because I wanted to be able to find reliable data, so it was not completely random.

4. Describe your dataset and each variable. Are you using cross-sectional, time-series, or panel data? What type of variable is each variable? What units are each variable measured in? Is the variable discrete or continuous? Is the variable cardinal or ordinal? If a variable is categorical, provide the coding scheme used to convert it to a dummy...
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