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Discuss the relationship between investment in physical capital and economic growth and human capital and income per capita.

Objectives:
The objectives of this essay are to practice critical thinking and economic understanding of development challenges and to gain some experience collecting and interpreting data.

Outcome:
The outcome of this project is a comparative study of the economic growth and economic development in Egypt and Brazil during the past two decades and link it factor accumulation.

Collect data on (non-exclusive list):
• GDP/capita
• Economic growth rates
• Investment rates
• Human Development Index
• Educational attainment indices
• Employment

Try as much as possible to collect data representing the whole period.

Based on data collected, write an essay to address the following points/questions:
a. Discuss the relationship between investment in physical capital and economic growth and human capital and income per capita.
b. How are the experiences of the two countries similar and/or different? Discuss the reasons.
c. Recommend one policy related to either capital investment or education to the Government of Egypt. Justify your choice.

Deliverable:
Your paper should not exceed 1400 words (excluding the bibliography, tables and graphs), double spaced, double sided, 12 point font. Numerical, tabular and/or graphical presentations should be limited to the ones you use in answering the essay. Do NOT replicate tables or graphs. Your work should be original. List your data sources. Feel free to raise other questions that are not included here and feel free to include observations on any related material not requested that you find particularly striking. Check your sources for technical notes, which may explain the meaning of the data that you find. You should consult at least 4 different (non-data) sources. Your bibliography should include ALL your sources, including your data sources. Consult a style guide (MLA, APA, Chicago) for further details.

You may work in a group of maximum two students. The expectation of the quality of work for a group of two will be higher than a paper submitted by one student.

Grading:
The Research Paper constitutes 30% of your final grade of the course. The breakdown is as follows:
• 21 points on the analysis,
• 6 points on the quality of data collected,
• 3 points on the quality of the paper presentation (tables, graphs, bibliography, style).

Sources for proper referencing/citing:
McCloskey, Deidre N. 2000. Economical Writing, 2nd Edition. Prospect Heights, Ill.: Waveland Press.
Strunk, William, Jr., and E.B. White. 2000. The Elements of Style, 4th Edition. Needham Heights, Mass.: Allyn & Bacon.
Turabian, Kate, L. 1996. A Manual for Writers of Term Papers, Theses, and Dissertations, 6th Edition. Chicago: University of Chicago Press.

Data Sources (non inclusive list):
• Penn World Tables: http://datacentre.chass.utoronto.ca/pwt/alphacountries.html
• World Bank: http://data.worldbank.org/indicator
• UNDP: http://hdr.undp.org/en/statistics/data/
• Google : http://www.google.com/publicdata/directory


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