Nations use Real Gross Domestic Product to measure economic performance - but is this a comprehensive measure of economic progress?
Watch this Ted Talk by Hans Rosling and notice how he measures economic wellness and progress in various regions of the globe.
- choose a nation other than the United States - identify this nations business cycle position using Real GDP, Inflation and Unemployment rates - to get some ideas on nations to choose and to find your statistical data, look at
- www. tradingeconomics.com
- Find the nation's Real Gross Domestic product - use a historical perspective - 10-20 years or more of data 2 points
2. Once business cycle position is established, Evaluate the 'wellness' or 'happiness' factor of the nation - would the happiness factors increase or decrease Real GDP impacting the business cycle position - this requires a bit of research on your own - you can look at these links and as you do, think of what could increase happiness or wellbeing in this economy: 2 points
3. Looking forward: will this nation grow in the long run ? Why or Why not - 2points
Don't forget to take a look at this link that you may have used last pweek for some interesting indicators: http://openmultimedia.ie.edu/openproducts/graficas_paises/graficas_paises/frames.html
4. What 2 elements would you add to the calculation of Real GDP to make it a better reflection of the overall progress of the nation to represent the quality of life of its citizens - 2 points.
No more than one page! And if not a problem I will like the country to be Venezuela.
|Due By (Pacific Time)
||10/14/2014 08:00 pm