Economic Debates

This is an applied project of analysis.provide two reports responding to key questions on each one, about how you
interpret and understand concepts, theories or course of action in each mini-case or debate below. Students are
responsible for completing two debate project reports as outlined below.
Debate Project Report 1
Read the following passage about economic growth and respond to the key questions that follow. You may use the list
of readings to help with your argument.
Economists routinely use GDP and other national income and product statistics in their research. However, there is
debate among economists about the appropriateness of GDP as a measure of well-being. Economists wonder if we are
really better off if we have more goods and services.
Key questions:
– Is GDP a good measure of our economic well being?
– What has been done in recent years to improve GDP statistics?
– Should GDP take into account environmental issues, distributional issues, and health/ welfare issues?
– How specifically can GDP be adjusted to better measure well being?
Arguments in Favor of a Simpler Lifestyle
Advantages of economic growth
Discussion of GDP and other Measures of Income and Output .
Recent changes in Definitions and Statistical Accuracy see “National Income and Product Accounts Comprehensive
Revision” at