Global Statistics - Composite Indices for International Comparisons from Coursera

What's inside

Syllabus

Welcome module

Welcome to the first module of this course. In this welcome module, you will be introduced with the Professors that will take part in this course on composites indices. We explain the rationale for composite indices (CIs) and show how they can be of interest. This course is open to NGO members, politicians, journalists, students and all persons interested in understanding, creating and/or interpreting CIs. By the end of this first module, you will have an overview of the content of the course week by week.

Some introductory issues

This module contains four lessons. The first lesson is an introduction to CIs. It defines what a CI is, introduces their mathematical notation and reviews some core historical aspects of their development, the need and use of CIs. The second lesson focuses on the demand for CIs while the third lesson develops a qualitative framework for the construction of CIs. More specifically, the intrinsic quality of CIs is discussed by reviewing their pros and cons. Finally, the last lesson of this introductory module sketches the steps involved in the construction of a CI. Learning outcomes: by the end of this module you will have a clear idea what a CI is (definition, ingredients, history, objective), know why it is needed and where it is used (needs and demand), be familiar with the quality requirements and have a first idea steps involved in the construction of a CI.

The steps of constructing a composite index

This module is organized along four lessons. The objective of this module is to familiarize you with the key steps to undertake when constructing a CI. The first lesson will develop a theoretical framework to support CIs’ construction. Notably, it will cover topics such as variables selection and data issues. The second lesson will introduce a unifying approach to construct CI by discussing aspects related to transformation functions and the elasticity of substitution. The entire third lesson will be devoted to an essential aspect in the construction of a CI: the choice of weights. Finally, the module will conclude by addressing questions arising after the construction of a CI. For instance, lesson four will discuss how to assess the robustness of the resulting CI. By the end of this module you will be familiar with all the most important technical (or say statistical) steps involved in constructing CIs.

Globalization and Youth labour market indices (ETH Zurich/KOF)

In this module, you will discover two popular indices developed by ETH Zurich: the Young Labour Market Index and the KOF Globalization index. In the first lesson of this week, you will learn more about the Youth Labour Market Index (YLMI). The KOF YLMI captures various aspects of the youth labour market situation of countries across the world. You will learn which indicators are included in the KOF YLMI and how these are aggregated into a single index. Furthermore, you will get to know an online tool that invites you to analyse the youth labour market situation yourself. In the second lesson of this module, you will learn about the KOF Globalization Index which is a widely used composite indicator that measures the degree of globalization for every country in the world since 1970. It distinguishes between three dimensions of globalization: Economic, social and political globalization. In the following module, you will learn why it is important to measure globalization and what the different stages in constructing the KOF Globalization Index are. A critical discussion of the Index sums up the module.

Export Potential Assessment (ITC)

This module focuses on trade indices developed by the International Trade Centre, the Export Potential Index (EDI) and the Product Diversification index (PDI). Frictions often create a gap between what a country could export and what it does export to markets around the world. Trade advisers could better address these frictions and help firms realize greater exports if they knew exactly which products and markets offer best chances. During this week, you will learn about the Export Potential Assessment (EPI and PDI), which indicates products, sectors and markets for trade development activities for over 200 countries and 4,000 products. Based upon an assessment of the exporting country’s supply capacity, the target market’s demand and tariff conditions as well as the bilateral links between the exporting country and the target market, it provides a ranking of untapped opportunities.

Liner shipping connectivity indices (UNCTAD) and Human development index (UNDP)

During this week you will be exploring two indices. The first index, the Liner Shipping (Bilateral) Connectivity Index (LSCI/LSBCI) computed each year by UNCTAD since 2004. It provides an overall indicator of a country maritime connectivity related to liner shipping. Throughout this lesson, we give some insights on why the LSCI and LSBCI were developed. We also cover the methodology to build both indices. We then discuss some stylized facts. The second index presented this week is the Human Development Index (HDI) developed by UNDP. During this lesson, you will be slightly introduced with the history of the HDI. We explain the steps of constructing the HDI, i.e. choosing the three dimensions (health, education and living conditions) composing the HDI and their respective indicators, normalizing the indicators and aggregating the indicators and dimensional sub-indices using different methods. Then, we use a practical example to calculate the HDI for one country. At the end, we discuss some limitations of the HDI and give some elements for future improvement.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Develops in-depth knowledge of global statistics and the construction of composite indices

Teaches the general approach of constructing composite indices and some of the resulting problems

Covers the technical properties, internal structure, data used, and variable selection methods of composite indices

Provides a hands-on approach to constructing composite indices through practical examples

Illustrates the concepts of composite indices using popular examples such as the KOF Globalization Index and the Human Development Index

Suitable for individuals seeking advanced knowledge in global statistics and index construction

Reviews summary

Informative course on composite index construction

Learners say that this Global Statistics course, titled "Composite Indices for International Comparisons," is a useful, informative course on how to construct composite indices. It is well-structured, and the content is clear and easy to understand, although learners note that at times it gets difficult to understand the accent of the instructors. Many learners enjoyed the fact that they do not need a strong statistical background to be able to understand the explanations. The interviewers' perspectives are also valuable. Learners say that the course provides in-depth overviews of both the theoretical and practical aspects of composite index construction through engaging assignments and examples of composite indices. This course is highly recommended for learners who want to learn more about composite index construction.

Concepts are clearly explained.

"Very good course to get a general understanding of composite indicators."

"The difficult concepts of statistics are not explained properly which make it a little disappointing."

Provides numerous real-world examples of composite indices.

"The multiple examples provided in the different modules were definitely eye openers to the wide array of composite indices that are being used world wide."

"Really appreciated the modules on aggregation technics that I've always considered as a black box. The empirical examples of indices created by international institutions were very enlightening in terms of comprehension of the context, limits and perspectives of the usage of CI."

Explores methodology and steps for constructing composite indices.

"This is definitely a great course to acquire a real grasp of the methodology required for the construction of composite indices!"

"The course was pretty useful and interesting as it provided the pros and shortcomings of composite indices in a theoretical and practical way."

Instructors have varied levels of engagement and clarity.

"The course is very well structured and the information it provides in the introductory part are extremely educational, but at times it gets difficult to understand the accent of the instructors."

"You have to pause the video again and again to repeat or read what the instructors have just said."

"Some of the instructors are really boring, but others like the HDI instructor, Jaya's lectures were very good in quality."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Global Statistics - Composite Indices for International Comparisons with these activities:

Organize Course Materials and Notes

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Stay organized and enhance your study experience by compiling and reviewing your course materials.

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Gather all course materials, including notes, assignments, and readings.
Create a system for organizing and categorizing the materials.
Regularly review and summarize your notes to reinforce your understanding.

Participate in Peer Study Groups

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Collaborate with peers to discuss course concepts, share insights, and reinforce your understanding.

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Find a study group or team up with classmates.
Regularly meet to discuss assigned readings, case studies, or exercises.
Actively participate in discussions, ask questions, and share your perspectives.

Practice Calculating Composite Indices

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Enhance your practical skills in calculating composite indices using different techniques.

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Review the provided materials on composite index calculation.
Solve practice problems involving the computation of composite indices.
Compare your results with the provided solutions and identify areas for improvement.

Five other activities

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Read The Economics of Globalization

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Review key concepts and theories related to globalization to strengthen your foundation for the course.

View Towards a Better Global Economy: Policy... on Amazon

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Read the introduction and Chapter 1 to get a broad overview of globalization.
Focus on specific chapters that align with the course topics, such as trade, migration, and inequality.
Take notes and highlight important passages for future reference.

Create a Visual Representation of the KOF Globalization Index

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Create a visual representation to enhance your understanding of the KOF Globalization Index and its components.

Browse courses on Data Visualization

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Gather data on the KOF Globalization Index from the provided resources.
Choose a suitable data visualization tool, such as Tableau or Google Data Studio.
Design a visually appealing and informative representation.
Present your visualization to the class or share it online.

Develop a Policy Brief on a Composite Index

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Apply your knowledge to a practical scenario by creating a policy brief that utilizes a composite index.

Browse courses on Policy Analysis

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Choose a specific policy issue or topic of interest.
Research and select an appropriate composite index to support your analysis.
Develop policy recommendations based on your findings and insights.
Write a concise and persuasive policy brief outlining your analysis and recommendations.

Participate in a Global Statistics Competition

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Challenge yourself and showcase your skills by participating in a competition related to global statistics.

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Research and identify suitable competitions aligned with your interests.
Form a team or collaborate with individuals to develop a project or solution.
Submit your entry according to the competition guidelines.
Prepare for potential presentations or Q&A sessions.

Contribute to an Open-Source Project Related to Composite Indices

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Gain practical experience and contribute to the community by participating in an open-source project related to composite indices.

Browse courses on Open-Source

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Identify existing open-source projects in the field of composite indices.
Review project documentation and code to understand its purpose and functionality.
Find an area where you can contribute, such as code improvement, feature development, or documentation.
Submit your contributions to the project and engage with the community.

Career center

Learners who complete Global Statistics - Composite Indices for International Comparisons will develop knowledge and skills that may be useful to these careers:

Data Scientist

Data scientists use data to build models that can predict future events. They often work with large datasets, and they use statistical techniques to identify trends and patterns. The **Global Statistics - Composite Indices for International Comparisons** course from the University of Geneva can help data scientists develop the skills needed to collect, analyze, and interpret data. This course covers topics such as data collection, data analysis, and data visualization, which are essential for data scientists who want to succeed in their roles.

See salaries and explore the career path for Data Scientist

Business Analyst

Business analysts use data to understand business needs and develop solutions. They often work with stakeholders to identify problems and opportunities, and then use data to develop and evaluate solutions. The **Global Statistics - Composite Indices for International Comparisons** course from the University of Geneva can help business analysts develop the skills needed to collect, analyze, and interpret data. This course covers topics such as data collection, data analysis, and data visualization, which are essential for business analysts who want to succeed in their roles.

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Operations Research Analyst

Operations research analysts use mathematical and statistical techniques to solve business problems. They often work with large datasets, and they use optimization techniques to find the best solutions. The **Global Statistics - Composite Indices for International Comparisons** course from the University of Geneva can help operations research analysts develop the skills needed to collect, analyze, and interpret data. This course covers topics such as data collection, data analysis, and data visualization, which are essential for operations research analysts who want to succeed in their roles.

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Statistician

Statisticians use mathematical and statistical techniques to collect, analyze, and interpret data. They often work with large datasets, and they use statistical techniques to identify trends and patterns. The **Global Statistics - Composite Indices for International Comparisons** course from the University of Geneva can help statisticians develop the skills needed to collect, analyze, and interpret data. This course covers topics such as data collection, data analysis, and data visualization, which are essential for statisticians who want to succeed in their roles.

See salaries and explore the career path for Statistician

Data Analyst

Data analysts use data to solve problems and make decisions. They often work with large datasets, and they use statistical techniques to identify trends and patterns. The **Global Statistics - Composite Indices for International Comparisons** course from the University of Geneva can help data analysts develop the skills needed to collect, analyze, and interpret data. This course covers topics such as data collection, data analysis, and data visualization, which are essential for data analysts who want to succeed in their roles.

See salaries and explore the career path for Data Analyst

Financial Analyst

Financial analysts use data to make investment decisions. They often work with large datasets, and they use statistical techniques to identify trends and patterns. The **Global Statistics - Composite Indices for International Comparisons** course from the University of Geneva can help financial analysts develop the skills needed to collect, analyze, and interpret data. This course covers topics such as data collection, data analysis, and data visualization, which are essential for financial analysts who want to succeed in their roles.

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Risk Analyst

Risk analysts use data to identify and assess risks. They often work with stakeholders to identify and mitigate risks. The **Global Statistics - Composite Indices for International Comparisons** course from the University of Geneva can help risk analysts develop the skills needed to collect, analyze, and interpret data. This course covers topics such as data collection, data analysis, and data visualization, which are essential for risk analysts who want to succeed in their roles.

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Quantitative Analyst

Quantitative analysts use mathematical and statistical techniques to analyze financial data. They often work with large datasets, and they use statistical techniques to identify trends and patterns. The **Global Statistics - Composite Indices for International Comparisons** course from the University of Geneva can help quantitative analysts develop the skills needed to collect, analyze, and interpret data. This course covers topics such as data collection, data analysis, and data visualization, which are essential for quantitative analysts who want to succeed in their roles.

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Actuary

Actuaries develop and utilize statistical techniques to assess financial risks. These professionals typically have a deep understanding of mathematics, probability, and finance. The **Global Statistics - Composite Indices for International Comparisons** course from the University of Geneva can help actuaries build a foundation in the construction and use of composite indices. This course covers topics such as variable selection, data issues, transformation functions, and weighting, which are essential for actuaries who want to develop and interpret composite indices for financial risk assessment.

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Policy Analyst

Policy analysts use data to inform policy decisions. They often work with stakeholders to identify problems and opportunities, and then use data to develop and evaluate policy solutions. The **Global Statistics - Composite Indices for International Comparisons** course from the University of Geneva can help policy analysts develop the skills needed to collect, analyze, and interpret data. This course covers topics such as data collection, data analysis, and data visualization, which are essential for policy analysts who want to succeed in their roles.

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Economist

Economists study the production, distribution, and consumption of goods and services. They use economic theory and data to analyze economic issues and make recommendations for policy. The **Global Statistics - Composite Indices for International Comparisons** course from the University of Geneva can help economists develop the skills needed to collect, analyze, and interpret data. This course covers topics such as data collection, data analysis, and data visualization, which are essential for economists who want to succeed in their roles.

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Market Researcher

Market researchers study the needs and wants of consumers. They use data to identify trends and patterns, and they make recommendations for marketing campaigns. The **Global Statistics - Composite Indices for International Comparisons** course from the University of Geneva can help market researchers develop the skills needed to collect, analyze, and interpret data. This course covers topics such as data collection, data analysis, and data visualization, which are essential for market researchers who want to succeed in their roles.

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Survey Researcher

Survey researchers use data to study the opinions and behaviors of people. They often work with large datasets, and they use statistical techniques to identify trends and patterns. The **Global Statistics - Composite Indices for International Comparisons** course from the University of Geneva can help survey researchers develop the skills needed to collect, analyze, and interpret data. This course covers topics such as data collection, data analysis, and data visualization, which are essential for survey researchers who want to succeed in their roles.

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Community Development Specialist

Community development specialists work to improve the lives of people in their communities. They often use data to identify needs and develop solutions. The **Global Statistics - Composite Indices for International Comparisons** course from the University of Geneva can help community development specialists develop the skills needed to collect, analyze, and interpret data. This course covers topics such as data collection, data analysis, and data visualization, which are essential for community development specialists who want to succeed in their roles.

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Data Journalist

Data journalists use data to tell stories. They often work with large datasets, and they use statistical techniques to identify trends and patterns. The **Global Statistics - Composite Indices for International Comparisons** course from the University of Geneva can help data journalists develop the skills needed to collect, analyze, and interpret data. This course covers topics such as data collection, data analysis, and data visualization, which are essential for data journalists who want to succeed in their roles.

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