Advising on Sustainable Economic Measurement
Imagine you are an economic advisor to a developing nation whose economy relies heavily on exporting timber and oil. The nation's leaders are celebrating a reported 8% annual GDP growth. Drawing upon the economic lessons from a historical case where a country's 7.1% official annual growth was found to be only 4.0% after accounting for natural resource depletion, write a brief memo to the finance minister. In your memo, critique the sole reliance on the 8% GDP figure as a measure of economic success and propose a more accurate method for assessing the nation's long-term economic health. Justify your proposal.
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Economics
CORE Econ
Introduction to Microeconomics Course
The Economy 2.0 Microeconomics @ CORE Econ
Ch.1 Prosperity, inequality, and planetary limits - The Economy 2.0 Microeconomics @ CORE Econ
Evaluation in Bloom's Taxonomy
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