The purpose of this assignment is to put in perspective the shrinking importance of agriculture as other sectors of the economy take over as larger shares of the economy.

April 22, 2024April 22, 2024 Discipline: Economics

Introduction

Malthus’ model of growth is very useful as it explains most of human history; it was not until the Industrial Revolution in the 19th Century that the industrial way of organizing the economy took off.

The purpose of this assignment is to put in perspective the shrinking importance of agriculture as other sectors of the economy take over as larger shares of the economy. This does not mean that the dollar value of the agricultural output is falling, but rather that it lags as manufacturing and services grow faster.

Instructions

This time we will not visit FRED, but we will dive into the Gapminder. The Gapminder is a very friendly and simple visualization tool that allows to have a snapshot of the world for many socio-economic indicators. Go to gapminder.org and then click on Resources (tab on upper right / understand a changing world). Once you see the start-up graph, modify the vertical axis and go to Economy/Sectors/Agriculture. It will take you to the year 2022 and show you the share of agriculture in GDP around the world. It is striking the large range of values that you will see!  If you click on play you will see how all countries drift downward (smaller share of GDP for agriculture) and to the right (higher income). Use the latest available year for your analysis.

Your work has to have:

– Introduction (what is the question that you are addressing, for example, how does the sectoral composition of the economy change as countries develop (emphasis on agriculture)? —25 points)

– Narrative (a description of how you are addressing it —50 points)

– Conclusion (what do you learn from the exercise and also ties together the two parts above —25 points)

Not counting the graphs and/or illustrations, the word-count should be around 500 words. You are free in regard to the design (font, font size, spacing, background color, etc.) The file has to be uploaded to CANVAS in PDF format.

please if you have any questions ask. Make sure there is no plaerism and everything that is stated in the instuctions is inside of the essay. all the graphs and answered questions need to be there

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