Project #43451 - Money or Happiness: Measuring Economic Growth

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.

http://www.youtube.com/watch?v=hVimVzgtD6w 

 

  1. 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

  • www.heritage.org
  • www.gapminder.org 
  • www.ciafactbook.org 

      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.

Subject Business
Due By (Pacific Time) 10/14/2014 08:00 pm
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