Introduction

This is a semester-long group project designed to help students develop key skills in macroeconomics and applied analysis. The goals of the project are to strengthen analytical skills in macroeconomics, learn how to present information and data effectively using engaging text, figures, and graphics, build web development and publishing skills, and develop teamwork and collaborative skills. 

The project will be broken into a series of smaller assignments completed throughout the semester. Working in groups, students will build a webpage that presents the macroeconomy of a selected country, apply concepts learned in class to analyze real-world macroeconomic issues facing that country, and communicate their analysis using text, graphs (interactive or static), figures, charts, and other visual tools. 

Grades for this project will reflect a combination of the group’s overall performance, each student’s performance within the group, and individual contributions to the project. 

Some examples of such websites: 

• https://climatedata.imf.org/

An example of a data-driven website that presents graphs and information clearly. 

• https://sites.google.com/view/weeklystateindexes/dashboard

This site shows how data can be organized and presented visually. For this project, you should not create multiple separate pages like this example. Instead, your group will compile content from all assignments into one single webpage, organized into clearly labeled sections that you design. Be sure to include explanatory text that helps readers understand the graphs and figures. 

• https://www.opportunityatlas.org/and https://economictracker.org/  

These websites are strong examples of high-quality interactive graphs and visualizations. You are not expected to replicate this level of interactivity, but these sites illustrate effective ways to present data in an engaging and accessible manner. 

The class website will be structured similarly to this example: https://haenfler.sites.grinnell.edu/subcultures-from-a-z/. You can click on any entry to see an example of the type of webpage your group will be building. You can also include a Table of content for your webpage like this https://haenfler.sites.grinnell.edu/globalization/  

Support for this project

• Building website:Digital Liberal Arts Collaborative (DLAC) 

In-person consultation with Vivero digital project peer mentors are available on a drop-in basis while classes are in session Monday through Thursday evenings from 7-9 PM, as well as Sundays from 3-5 PM and 7-11 PM. Drop-in hours are held in the Burling Library Digital Studio. See more information at https://vivero.sites.grinnell.edu/peer-mentoring/ 

• Working with data, code, interactive graphs: Data Analysis & Social Inquiry Lab (DASIL)

Schedule for in-person consultation with DASIL peer mentors can be found at: https://dasil.sites.grinnell.edu/ 

Part 1: Country Selection

1. Objective

The purpose of this assignment is to help your group select a country that you will study for the semester-long group project.  

2. Task:

As a group, please fill out this form or copy-paste this URL to a web browser https://forms.gle/Zk6TiYGsXVvRcySv8. In this form, you will propose three countries, ranked in order of preference: 

• First choice 

• Second choice 

• Third choice 

For each country, briefly explain why your group is interested in studying it. 

Note: The United States cannot be selected to ensure fairness, since it will be used often as an example in class. 

When choosing countries, please think carefully about: 

• Whether you can find reliable and sufficient macroeconomic data and information for the country; 

• Whether the country has an interesting or dynamic macroeconomic environment (e.g., growth, inflation, fiscal or monetary policy policies and challenges, development issues, crises, or transitions); and 
• Your group’s interests and preferences, as you will be working with this country throughout the semester. 
•  Submission:

Please fill out one form per group: 

• Group members’ names; 

• Your three ranked country choices; and 

• A brief justification for each choice.  

4. Country Assignment Process:

Countries will be assigned based on your group’s ranked preferences and explanations: 

• If only one group selects a country as their first choice, that group will receive the country. 

• If two or more groups select the same country as their first choice, I will consider the group’s justification for choosing that country and compare second and third choices to reduce overlap across groups. 

• If a group does not receive its first choice, it will be considered for its second choice, and then its third choice, using the same rules. 

• If conflicts remain after all rankings and justifications are considered, I will make the final assignment to ensure a fair and balanced distribution of countries. 

Once this process is complete, each group will be notified of the country they will work on for the remainder of the semester. 

Part 2: Introducing the Macroeconomic Context of Your Country

Objective

The purpose of this assignment is to help your group build the foundation of your project webpage by introducing the macroeconomic context of your assigned country and presenting key macroeconomic indicators using data and visualizations. 

This assignment will form the first two major content sections of your group webpage and can be refined throughout the semester. 

Task

As a group, you will create two sections on your project webpage:  

Section 1: Country Macroeconomic Overview

Write a brief introductory paragraph describing the macroeconomy of your assigned country. The introduction should give readers a general sense of: 

• The country’s level of economic development; 

• Major characteristics of its economy; and 
• Any key macroeconomic themes (e.g., growth, inflation, development challenges, structural change, instability, or transitions).

This section should be written in clear, accessible language for a general audience.  

Section 2: Macroeconomic Indicators and Analysis  

• Collect data over time on macroeconomic indicators for your country at the national level or, when appropriate, regional or state level. Possible indicators include (but are not limited to): GDP and economic growth, population, inflation, labor market indicators like unemployment, labor force participation, inequality, typical or major industries of the regions, sector share, housing market, financial market, etc. 

• Present the data using appropriate visualizations, such as: line charts, bar charts, maps, etc. You can combine different types of charts into one graph. You can use static and/or interactive graphs, or a combination of both. 

• Incorporate these charts directly into your webpage. 

• Add accompanying written text that: 

• Describes the current state of the country’s macroeconomy using the indicators; and 

• Analyzes and highlights any important trends, patterns, or macroeconomic issues revealed by the data. 

Each group should present up to 4 graphs in total for this section. Please make sure to include data sources and any references.  

3. Presentation Component:

In a class after the submission deadline, two groups will be randomly selected to showcase their webpage to the class. 

• Each selected group will: 

• Briefly introduce their webpage and main findings; 

• Present for 5 minutes per group. 

• You do not need to make slides; you may simply showcase your webpage 

This presentation is intended to share ideas, highlight different approaches, and receive feedback from the professor and peers. This presentation is not graded.  

4. Submission and Revision:

By the deadline, each group must make one submission per group that includes: 

• The link to your webpage that includes two sections above; and 

• A Contribution Report, which must include:  

• The percentage contribution of each group member to this assignment; 

• Contributions reported as percentages that sum to 100% for the group
  (e.g., Student A – 30%, Student B – 20%, Student C – 50%). 

• Contribution reports are intended to ensure fairness and accountability in group work and will be used when determining individual grades.  

After the deadline, your group is encouraged to continue refining and improving these sections of your webpage. Updates and improvements made later in the semester will be reflected in your final project grade (Assignment 5).

Part 3: Aggregate Supply/Aggregate Demand Model

1. Objective:

The purpose of this assignment is to help your group apply the Aggregate Supply–Aggregate Demand (AS–AD) model and related macroeconomic frameworks to analyze real-world policy changes in your assigned country and evaluate how well the model predicts actual macroeconomic outcomes. 

This assignment emphasizes comparing theoretical predictions with real economic data, highlighting both the usefulness and limitations of macroeconomic models. The content produced in this assignment will become the third section of your webpage and can be refined throughout the semester. 

2. Task:

As a group, you will create a new section on your project webpage focused on policy analysis using macroeconomic models. 

Your group must identify two (2) real policy changes that occurred in your assigned country. These can include (but are not limited to): 

• Fiscal policy changes (e.g., government spending programs, tax reforms); 

• Monetary policy changes (e.g., interest rate adjustments, quantitative easing or tightening); or 

• Other major policy interventions that affect aggregate demand or aggregate supply. 

For each policy, your analysis must include the following components: 

Step 1: Policy Description 

• Briefly describe the policy change: 

• When it occurred; 

• What the policy was; and 

• The economic context in which it was implemented. 

• Clearly state whether the policy primarily affects aggregate demand, aggregate supply, or both. 

Step 2: Model-Based Analysis and Predictions 

For each policy, your group must include at least three (3) macroeconomic diagrams: 

• AD–AS diagram 

• IS–LM diagram 

• Labor market diagram 

Using these models: 

• Analyze the expected effects of the policy on macroeconomy; 

• Clearly label all curves and shifts; 

• Explain the intuition behind each model’s predictions in words. 

Multiple policies at the same time: 

If you choose to illustrate the effects of more than one policy occurring simultaneously, you must: 

• First analyze and illustrate the effects of one policy alone; and 

• Then add the changes caused by the second policy, clearly showing how the combined effects differ from the single-policy case. 

This step-by-step approach is required so that the contribution of each policy is clearly identified. 

Step 3: Comparison with Real Economic Outcomes 

• Collect and present relevant real-world macroeconomic data following each policy change (e.g., GDP growth, inflation, unemployment, labor market indicators, etc.). 

• Discuss whether the observed economic outcomes are consistent with the predictions of the AD–AS model. 

Step 4: Discrepancies and Interpretation 

• If the real economy does not fully align with the model predictions, discuss possible reasons for the discrepancies. 

• Possible explanations may include (but are not limited to): 

• Other policies or economic shocks occurring at the same time; 

• Expectations, timing, or implementation issues; 

• Structural characteristics of the economy not captured by the models; or 

• Limitations of the AD–AS frameworks. 

• Discuss whether and how refining the models or incorporating additional mechanisms could help explain the real-world outcomes more accurately. 

3. Presentation Component:

In a class after the submission deadline, two groups will be randomly selected to showcase their webpage and analysis to the class. 

• Each selected group will: 

• Briefly introduce their webpage and main findings; 

• Present for 5 minutes per group. 

• You do not need to make slides; you may simply showcase your webpage 

This presentation is intended to share ideas, highlight different approaches, and receive feedback from the professor and peers. This presentation is not graded. 

4. Submission and Revision:

Submission: 

By the deadline, each group must make one submission per group that includes: 

• The link to your webpage that includes the section above; and 

• A Contribution Report, which must include:  

• The percentage contribution of each group member to this assignment; 

• Contributions reported as percentages that sum to 100% for the group
  (e.g., Student A – 30%, Student B – 20%, Student C – 50%). 

• Contribution reports are intended to ensure fairness and accountability in group work and will be used when determining individual grades. 

Ongoing revisions: 

After the deadline, your group is encouraged to continue refining and improving this section of your webpage. Updates and improvements made later in the semester will be reflected in your final project grade (Assignment 5).

Part 4: Historical Macroeconomic Experience

1. Objective:

The purpose of this assignment is to help your group analyze the historical macroeconomic experience of your assigned country by examining (i) an extreme macroeconomic event and (ii) long-run economic growth. 

Through this assignment, you will connect macroeconomic theory, historical context, and data to understand how major shocks and growth dynamics have shaped the country’s economy over time. The content produced in this assignment will form the last two major sections of your project webpage and can be refined throughout the semester. 

2. Task:

As a group, you will create two sections on your project webpage: 

Section 1: Extreme Macroeconomic Event 

In this section, your group will identify and analyze one extreme macroeconomic event in the history of your assigned country. Examples include (but are not limited to): Financial or banking crises, currency crises, hyperinflation or deflation episodes, sovereign debt crises, severe recessions or depressions. 

Your analysis should include: 

• Event description and historical context 

• When the event occurred; 

• What happened; and 

• The domestic and/or global conditions leading up to the event. 

• Macroeconomic impacts 

• Describe how the event affected key macroeconomic variables such as output, inflation, unemployment, exchange rates, or public debt. 

• Explain the mechanisms through which the shock propagated through the economy. 

• Data and visualization 

• Present relevant macroeconomic data or model analysis before, during, and after the event; 

• Include up to three graphs (data or model) that help illustrate the severity and dynamics of the episode. You can use static and/or interactive graphs, or a combination of both. 

• Additional visuals are welcome if they help clarify your analysis or improve the overall look and aesthetics of the webpage. 

• Clearly label all graphs and include data sources and references. 

• Policy response and aftermath 

• Briefly discuss any major policy responses and how the economy evolved after the event. 

Section 2: Economic Growth  

In this section, your group will analyze economic growth over the history of your assigned country. 

Your analysis should include: 

• Overview of growth patterns 

• Describe long-run trends in GDP or GDP per capita; 

• Identify periods of rapid growth, stagnation, or decline. 

• Drivers of economic growth 

• Discuss key factors associated with growth and how they change over the time, such as: Capital accumulation; Labor force growth and human capital; Productivity and technological change; Structural transformation across sectors; or Institutional and policy changes. 

• Data and visualization 

• Present relevant macroeconomic data or model analysis  

• Include up to three graphs (data or model) that help illustrate the economic growth of the country through time (e.g., GDP per capita over time, growth rates across decades, sectoral shares, etc.). You can use static and/or interactive graphs, or a combination of both. 

• Additional visuals are welcome if they help clarify your analysis or improve the overall look and aesthetics of the webpage. 

• Clearly label all graphs and include data sources and references. 

• Interpretation 

• Discuss how historical events, institutions, or policies may help explain the observed growth patterns. 

3. Presentation Component:

In a class after the submission deadline, two groups will be randomly selected to showcase their webpage to the class. 

• Each selected group will: 

• Briefly introduce their webpage and main findings; 

• Present for 5 minutes per group. 

• You do not need to make slides; you may simply showcase your webpage 

This presentation is intended to share ideas, highlight different approaches, and receive feedback from the professor and peers. This presentation is not graded. 

4. Submission and Revision:

Submission: 

By the deadline, each group must make one submission per group that includes: 

• The link to your webpage that includes two sections above; and 

• A Contribution Report, which must include:  

• The percentage contribution of each group member to this assignment; 

• Contributions reported as percentages that sum to 100% for the group
  (e.g., Student A – 30%, Student B – 20%, Student C – 50%). 

• Contribution reports are intended to ensure fairness and accountability in group work and will be used when determining individual grades. 

Ongoing revisions: 

After the deadline, your group is encouraged to continue refining and improving these sections of your webpage. Updates and improvements made later in the semester will be reflected in your final project grade (Assignment 5).

Part 5: Finalize Project Webpage

1. Objective:

The purpose of this assignment is to have your group refine, improve, and finalize your project webpage for final submission. 

Building on earlier assignments, your group will make any necessary changes, updates, and improvements to the content, data, visualizations, writing, and overall presentation of your webpage. This assignment represents the polished version of your project webpage. 

2. Task:

As a group, you will review and refine your entire project webpage, with particular attention to the following aspects: 

• Accuracy and clarity of macroeconomic content 

• Quality and appropriateness of data and their sources 

• Effectiveness and readability of charts and visualizations 

• Strength of written explanations and economic analysis 

• Organization, flow, and overall presentation of the webpage 

• Citations and references

You should: 

• Update or replace data if needed; 

• Improve existing charts or add clearer labels, captions, or interactivity; 

• Revise written text to improve clarity, depth, and economic reasoning; 

• Fix any technical issues with layout, links, or formatting. 

• Check citations and references 

Your final webpage should present a clear, coherent, and well-supported macroeconomic narrative of your assigned country. You are welcome to rearrange the order of the sections if it helps to present the information more clearly and coherently. It might be helpful to include a Table of Contents at the top of your webpage to make it easier for readers to navigate like this https://haenfler.sites.grinnell.edu/globalization/ 

3. 3.Submission:

Submission: 

By the deadline, each group must make one submission per group that includes: 

• The link to your finalized project webpage; and 

• A Contribution Report, which must include: 

• The percentage contribution of each group member to this assignment; 

• Contributions reported as percentages that sum to 100% for the group
  (e.g., Student A – 30%, Student B – 20%, Student C – 50%). 

• Contribution reports are intended to ensure fairness and accountability in group work and will be used when determining individual grades. 

Please make sure your webpage reflects your group’s best work in terms of economic reasoning, analysis, and presentation.