Assignment Task
This assignment links to the following learning outcomes:
LO1: Evaluate and select suitable models and quantitative tools to analyse business problems. (Capability 1 and 2) LO2: Extract relevant patterns from sets of data to transform into information and interpret the results effectively. (Capability 2) LO3: Communicate findings, results and recommendations from business analysis models verbally and in a written manner to the audience from a variety of backgrounds. (Capability 3.1 and 3.2) LO4: Apply the concepts, tools and practices including data collection techniques to contribute to the managerial decision-making process. (Capability 1 and 2)
Brief/Context:
You are an economist working for a leading independent New Zealand economic consultancy – GSM Consulting. Your manager, Dr Wang, has tasked you with writing a report highlighting key insights regarding the impacts of COVID-19 on global health outcomes and the world economy in 2020. To do so, he has provided you with a dataset. The dataset includes all records of daily total cases and total deaths for Group 8 countries, BRICS countries and New Zealand from January 2020 to October 2020. The dataset also includes other socio-economic variables for these countries such as monthly GDP growth rate, monthly stringency index, monthly export and import value, monthly interest rate, and annual GDP per capita, amongst others.
Please work only with the data that has been provided and do not seek or includeadditional variables outside of the data set in your analysis. However, you may derive new variables by using the existing data provided; for example, you can derive a ratio which equals ‘Export value’ divided by ‘Import value’ if it would provide useful insights for your discussion.
The detailed data is available in an Excel file called “COVID19.xls” which has been uploaded to module ‘B’: Important Information & Assessments for This Couse’ on Canvas.
Detailed Tasks: Dr Wang would like you to analyse the data provided using descriptive methods of analysis (which means you do not have to use other kinds of analytics such as regressions for this report). Therefore, your analysis should include descriptive statistics (such as mean, median, standard deviation, correlation, distribution, confidence interval, hypothesis testing etc.) as well as visualisations of the data. Both sections A and B are compulsory and must be answered.
A) Focusing on health-related variables/data:
- Describe the general impact of the COVID-19 pandemic for these countries on the whole.
- Based on your analysis for Q1, which country (or countries) appears to be better positioned to recover from the pandemic? Justify. (Hint: your answer should be well supported by your descriptive analysis of the data, as well as appropriate secondary sources)
B) How has COVID-19 impacted on the world economy? Choose only ONE of the following dimensions for your answer.
- Impact on employment.
- Impact on international trade.
- Impact on the business environment.