AE4 Research tracker

Student details

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Contents:

Key topic wordsExampleExtended essay sourcesGroup presentation sourcesKey topic words

Extended essay:

GDP, Australia, welfare, economic wellbeing, indicators,

Group presentation:

Essay sources

Essay question:

Assess the importance of GDP in measuring a selected country’s economic wellbeing

Full APA reference Source type Date accessed

Joseph E. Stiglitz. (2020，August 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

Comments

Summary:

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.

Measures of economic wellbeing

Useful information on strategies:

Defining GDP

Understanding it is used as a measure of economic and societal welfare all over the world

Use of GDP

Why it should be improved or supplemented to ensure that total welfare of a society is well captured

Full APA reference Source type Date accessed

Aitken, A. (2019). Measuring welfare beyond GDP. National Institute economic review, 249, R3-R16. https://doi.org/10.1177/002795011924900110Journal Article 20.08.2021

Comments

Summary:

A useful review of GDP as a measure of economic welfare, asserting how it is misused in that regard (R11)

It sheds light on the proper use of GDP (R4-R7)

Presents reasons why it should not be used without the inclusion of other critical indicators that reflect overall progress of a society (R4-R9)

Useful information:

Rich and informative explanations on the GDP as a measure of economic health

Relevant and up to date content

Provides a starting point to answer the question on GDP as an economic health measure

Full APA reference Source type Date accessed

Kenny, D. C., Costanza, R., Dowsley, T., Jackson, N., Josol, J., Kubiszewski, I., … & Thompson, J. (2019). Australia’s genuine progress indicator revisited (1962–2013). Ecological Economics, 158, 1-10 https://doi.org/10.1016/j.ecolecon.2018.11.025 Journal Article 20.08.2021

Comments

Evaluation:

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.

Summary:

Looks at how Australia has continued to measure progress and wellbeing from the mid-20th century up to 2013 (p2-p4)

Provides a genuine progress indicator by combining other measures to supplement the use of GDP (p3-p4)

Mentions the long term use of Measures of Australia’s Progress (MAP) in Australia including a collection of alternative indicators (p4-p7)

Discusses the GDP and its pros and cons in measuring public welfare (p4-p6)

Full APA reference Source type Date accessed

Trewin, D. (2001). Measuring wellbeing. Australian Bureau of Statistics. https://www.governanceinstitute.edu.au/magma/media/upload/ckeditor/files/Well-being%20presentation.pdfJournal 20.08.2021

Comments

Evaluation:

The article looks at the measures of wellbeing relevant to Australia and attempts to introduce measures outside of financial and economic status. Defines GDP and its application in Australia and compares wellbeing of the country with New Zealand in terms of GDP, and finally looks at a suite of indicators and other subject measures of wellbeing.

Summary:

Discusses approaches to measuring progress and wellbeing including types of indicators (P9)

Looks at the modalities foe developing measures of wellbeing and focuses its case on Australia (p8)

Specifically looks at the measures of Australia’s progress (p10)

Compares the use of GDP in Australia with the Australian National Development Index (p13)

For comparative purposes it briefly looks at how New Zealand measures progress and provides recommendations for the future (p26)

Important because it focuses on Australia’s perspective of the GDP against other measures (p15-p20)

Group presentation sources

Presentation topic:

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