Becoming an Economist: Data Analysis and Report

This report analyzes the current economic condition of India using performance trend of the mentioned indices for a chosen period of four years. The report conducts a statistical analysis of macroeconomic data on Indian economy using SPSS software. The report covers data handling using SPSS, summary statistics, graphical analysis, and a detailed report on the economic state of India. The subject is economics and the document type is a report.

Running head: BECOMING AN ECONOMIST
Becoming an Economist
Name of the Student
Name of the University
Student ID

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Table of Contents
Assessment 2: Data analysis............................................................................................................2
Data handling using SPSS...........................................................................................................2
Report..........................................................................................................................................8
Reference list.................................................................................................................................11

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Assessment 2: Data analysis
Data handling using SPSS
Summary statistics
Table 1: Summary Statistics of Real GDP of India
Table 2: Summary Statistics of Real GDP growth of India

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Table 3: Summary Statistics of Per Capita Real GDP of India
Table 4: Summary Statistics of Unemployment rate of India

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Table 5: Summary Statistics of Inflation rate of India
Table 6: Summary Statistics of Net export of India

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Graphical analysis
Chart 1: Trend analysis of Real GDP

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Chart 2: Trend analysis of Real GDP growth
Chart 3: Trend analysis of Per capita Real GDP

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Chart 4: Trend analysis of Unemployment rate
Chart 5: Trend analysis of Inflation rate

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Chart 6: Trend analysis of Net export
Report
Introduction
Analysis of economic state of a nation is crucial for understanding current economic
condition and prospect of future economic progress. India is a developing nation that aspires to
catch up with different developed nations of the world. The report has been organized to portrait
present state of Indian economy. Condition of the economy has been analyzed using the
particular indices such as real GDP, growth in GDP, inflation, per capita GDP, unemployment
and net export. A brief report is designed to analyze current economic condition using
performance trend of the mentioned indices for a chosen period of four years.
Methodology
Economic state is based on the analysis of collected data using appropriate techniques.
The first step is to collect data on the indicators chosen for analysis. Indicators related to

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performance of output are real GDP, GDP growth and per capita GDP. GDP at constant prices
are collected for the purpose of analyzing real GDP. For understanding state of labor market data
on unemployment rate are collected. Movement of price level has been captured using the rate of
inflation. The data on net export has been collected to analyze current state of the economy. The
data are collected for the period starting from 2014 and ended at 2018 The software package of
SPSS is used to analyze the data. Using SPSS, first summary statistics of the indicators are
computed (Field 2013). Trend of these indicators are then graphically analyzed using suitable
line and bar charts.
Data analysis
This section interprets the statistical results obtained using the SPSS platform. From
summary statistics table representing Real GDP the average real GDP is obtained as 2570.97
billion dollars. The estimated standard deviation for the real GDP is much smaller than the mean
estimate of the series asserting vitality in movement of real GDP. The respective minimum and
maximum real GDP of India within the selected period is obtained as 2294.95 billion dollars and
2846.13 billion dollars. Mean real GDP growth rate of India over the selected four years is 7.5
period (Chatfield 2018). The relative stability in the economic growth is observed from a smaller
estimated standard deviation of 0.59. The highest and lowest growth rate for Indian economy are
6.98 and 8.17 percent respectively. Average per capita GDP of India for the past four year is
obtained as 1929.35 dollar. Standard deviation of per capita GDP is again smaller than mean
GDP implying average income in India has increased steadily. Rate of unemployment in India is
somewhat high with average unemployment rate being 5.22 percent. Smaller standard deviation
of 0.51 supports a stability in the unemployment rate. In India price level has grown at an
average rate of 4.54 percent. Descriptive statistics of inflation rate series gives a standard

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deviation of 1.44. Average inflation is higher than standard deviation meaning a stable
movement of price level (Pyrczak 2016). Indian economy experienced four consecutive period of
trade deficit with maximum and minimum trade deficit being -105.92 billion dollars and 41.58
billion dollars.
From the graphical analysis of the obtained series a continuous upward rising trend is
observed for real GDP, per capita real GDP and unemployment rate. While for inflation and
GDP growth rate the trend fluctuates overtime. The trend of net export suggests that trade
balance has worsen overtime. Real GDP in India has increased gaining support from private
consumption expenditure, investment and export. Modest decline in economic growth is mainly
the result of slowdown of agriculture and manufacturing. Lack of reform and policy uncertainties
have aggravated the unemployment problem. Inflation at present is above the central’s bank’s
targeted rate mainly because of surge in food and oil price (Pandey and Shettigar 2016). Rapid
increase in imports of steel, coke, crude oil, electronic goods and other increases widens the trade
deficit.
Conclusion
The report conducts a statistical analysis of macroeconomic data on Indian economy
using SPSS software. Output performance of the nation are analyzed with the help of real GDP,
growth in GDP and per capita GDP. Real GDP of India has increased in the last four years
following an increase in private consumption expenditure, investment and export. The
deceleration in economic growth is the result of slowdown of agricultural and manufacturing
sector. Growing unemployment and widening trade deficit are the two major concerns of the
economy. Pending reforms within the economy and uncertain policy decision are responsible for

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surge in unemployment. Larger trade deficit is the result of faster increase in import above
export.

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Reference list
Chatfield, C., 2018. Statistics for technology: a course in applied statistics. Routledge.
Field, A., 2013. Discovering statistics using IBM SPSS statistics. sage.
Pandey, A. and Shettigar, J., 2016. Relationship between crude oil price, money supply and
inflation in India. International Journal of Advanced Research in Management and Social
Sciences, 5(7), pp.20-31.
Pyrczak, F., 2016. Making sense of statistics: A conceptual overview. Routledge.