Difference between revisions of "Group 8 Overview"
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Revision as of 14:35, 18 October 2017
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Contents
Background
Singapore has adopted a market-oriented currency system since 1985. To ensure better control over economic measures such as inflation and import/export prices, the Monetary Authority of Singapore (MAS) has been set up to monitor the various exchange rates between the Singapore Dollar (SGD) and other important countries who are Singapore's trading partners.
MAS allows the SGD to rise or fall against a secretive basket of currencies, only intervening when necessary to keep the particular exchange rate within an unspecified exchange rate policy band. The reason why there is sparse information about the basket of currencies and band value ranges is to deter any form of currency speculation. Based on the needs of the current appreciation or depreciation of the Singapore Dollar, MAS adjusts the slope, width and centre of this exchange rate policy band. The exchange rate that MAS targets is also trade-weighted, so the currencies of bigger trading partners of Singapore will bear more weight in the equation.
MAS policies and the floating exchange rates have great bearing upon Singapore's economic history and future, so it is beneficial to explore the deep repercussions that these changes bring to the country. Important information such as the Import/Export prices and Consumer Price Index can help to illustrate this complex economic relationship.
CPI <What and why>
No matter how rich a country is, how small or big it is, it will never be totally independent from the rest and have everything it needs. As a strong advocate of free trade, Singapore has relatively few trade barriers. In 2016, Singapore is the 13th largest exporter ($353.3 billion), and 15th largest importer ($271.3 billion) in the world. It has strongly influenced the nation economy. Especially due to the geographical location and national conditions, most of the livelihood commodity in Singapore relies on import which affects civilian’s daily life.
Motivation
Why? What problem statement?
Objectives
1. Provide interactive platform to illustrate the relationship between Singapore's exchange rate information, Consumer Price Index and Import and Export markets.
2. Discover data insights using visualization and interactivity that cannot be easily represented using raw data.
3. Make use of freely available Singapore economic data to arouse the interests of potential viewers and increase their curiosity on our trading relationships with the country's important trading partners.
Data Source
The dataset is provided by the National Consortium for the Study of Terrorism and Responses to Terrorism (START) with an aim of increasing public attention of terrorist violence and finding ways to defeat terrorism.
The dataset contains information about global terrorist events from 1970 till 2016, with systematic data on domestic as well as more than 170,000 cases of transnational and international terrorist incidents. For each GTD incident, information is available on the date and location of the incident, the weapons used and nature of the target, the number of casualties, and--when identifiable--the group or individual responsible.
Deliverables
Wiki Page
Poster
The project poster would provide an overview of the project. Various sections would include "Background and problem statement", "Motivation for the project", "Project Approach", "Project Results", "Future Works". The poster will be designed with learnt visualization techniques, coupled with aesthetics in order to deliver the correct data insights to the intended audience.
Poster Dimensions: Size = ISO A1 (594 × 841mm or 23.39 × 33.11inci) Resolution = 300dpi or above (high-resolution) File format = jpeg
Poster will be uploaded to this wiki page and the project Dropbox before the poster presentation.
Presentation
A poster presentation of the final project will be in the form of a poster session and live demo. A laptop will be set up near our team poster and be used to explain the project. As the venue will be open to any esteemed guests and the general public, a 5-10 minute oral explanation and demonstration will be given to all who are interested in the poster and visualization application.
Conference Venue: SIS SR B1-1 Basement 1 Poster Venue: SIS Faculty and Student Lounge Basement 1. Date/Time: 2nd December 2017 9:00am-6:00pm
Visual Analytics Artifact
Main packages used will be Tinyverse, ggplot2 and R Shiny.
Analysis will be provided in the form of a visualization platform.
Users will be able to make changes to various parameters to do exploratory analysis.
Graphs and charts will be used to showcase the various differences and correlations of data.
References
1. https://secure.mas.gov.sg/msb/ExchangeRates.aspx
2. https://insights-ceicdata-com.libproxy.smu.edu.sg/Untitled-insight/views
