AE4 Research tracker<\/p>\n
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Key topic wordsExampleExtended essay sourcesGroup presentation sourcesKey topic words<\/p>\n
Extended essay:<\/p>\n
GDP, Australia, welfare, economic wellbeing, indicators,<\/p>\n
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Essay question: <\/p>\n
Assess the importance of GDP in measuring a selected country\u2019s economic wellbeing<\/p>\n
Full APA reference Source type Date accessed<\/p>\n
Joseph E. Stiglitz. (2020\uff0cAugust 1). GDP Is the Wrong Tool for Measuring What Matters. https:\/\/www.scientificamerican.com\/article\/gdp-is-the-wrong-tool-for-measuring-what-matters\/ Online publication\/news article 20.08.2021<\/p>\n
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Summary: <\/p>\n
Useful information on the use of GDP as a measure of public welfare and goes ahead to dissect the reasons why its use should be stopped or improved to include other indicators beyond market activities. <\/p>\n
Measures of economic wellbeing <\/p>\n
Useful information on strategies: <\/p>\n
Defining GDP <\/p>\n
Understanding it is used as a measure of economic and societal welfare all over the world<\/p>\n
Use of GDP <\/p>\n
Why it should be improved or supplemented to ensure that total welfare of a society is well captured<\/p>\n
Full APA reference Source type Date accessed<\/p>\n
Aitken, A. (2019). Measuring welfare beyond GDP.\u00a0National Institute economic review,\u00a0249, R3-R16. https:\/\/doi.org\/10.1177\/002795011924900110Journal Article 20.08.2021<\/p>\n
Comments<\/p>\n
Summary: <\/p>\n
A useful review of GDP as a measure of economic welfare, asserting how it is misused in that regard (R11)<\/p>\n
It sheds light on the proper use of GDP (R4-R7)<\/p>\n
Presents reasons why it should not be used without the inclusion of other critical indicators that reflect overall progress of a society (R4-R9)<\/p>\n
Useful information:<\/p>\n
Rich and informative explanations on the GDP as a measure of economic health<\/p>\n
Relevant and up to date content<\/p>\n
Provides a starting point to answer the question on GDP as an economic health measure<\/p>\n
Full APA reference Source type Date accessed<\/p>\n
Kenny, D. C., Costanza, R., Dowsley, T., Jackson, N., Josol, J., Kubiszewski, I., … & Thompson, J. (2019). Australia’s genuine progress indicator revisited (1962\u20132013).\u00a0Ecological Economics,\u00a0158, 1-10 https:\/\/doi.org\/10.1016\/j.ecolecon.2018.11.025\u00a0Journal Article 20.08.2021<\/p>\n
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Evaluation:<\/p>\n
This article not only discusses the importance of GDP as an indicator of progress and wellbeing in Australia but also looks at alternatives including the inclusion of ecological factors and other relevant concepts.<\/p>\n
Summary: <\/p>\n
Looks at how Australia has continued to measure progress and wellbeing from the mid-20th century up to 2013 (p2-p4)<\/p>\n
Provides a genuine progress indicator by combining other measures to supplement the use of GDP (p3-p4)<\/p>\n
Mentions the long term use of Measures of Australia’s Progress (MAP) in Australia including a collection of alternative indicators (p4-p7)<\/p>\n
Discusses the GDP and its pros and cons in measuring public welfare (p4-p6)<\/p>\n
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