Question 1: Build the annual Index of Openness for Australia and Italy (1970-2011)

For this question, you will have to go on http://stats.oecd.org/. Under National Accounts, select Annual National Accounts, then Main Aggregates, then GDP.

a) Customize your selection so that you obtain data only for Australia, for the time period 1970-2011, in US$, current prices, current PPPs, millions.

b) Build the time series for the Index of Openness (Export of Goods/GDP) using a spreadsheet

c) Build the time series of Imports of Goods/GDP.

d) Plot the time series from b) and c).

e) Repeat the a), b) for Italy. Plot the series for the Index of Openness for Australia and Italy together.