Essay – ‘Why has GDP endured as the most important ‘measure’ of economic performance?’

Economic policy making assignment – 2000 words
Essay – ‘Why has GDP endured as the most important ‘measure’ of economic performance?’
The word count should be 2000 words, excluding references.

Unit Learning Outcomes Assessed.
1.Assess the political structures through which economic policy is made in practice in the UK and beyond, and the impact associated processes have on the economy.
2.Appreciate the role and importance of international economic institutions and the influence of key agents such as private companies on economic policy.
3.Utilise and critically assess economic data that provides the evidence base to inform ongoing policy action and debates.
Your answers must demonstrate understanding of the economic issues confronting policy-makers. At the same time, they should also demonstrate awareness of the interests and ideological commitments of policy-makers, and most importantly, the institutional frameworks within through which economic policy is made. Answers must make use of ‘real world’ examples of economic policy making.

Marking criteria to achieve the first class
Work demonstrates an exceptionally rich and coherent understanding of the political institutions- through which policy is made, and how these processes affect the economy.
Work that critically evaluates the role of contextual factors (such as the influence of private companies) in influencing economic policy, where relevant.
Work that is exceptionally rich and sophisticated, based on independent thought, in critically assessing of the evidence base which informs ongoing policy debates and actions.

– Essay needs to be Harvard referenced, about 18-20 sources.
– Has to be first class standard in line with the marking criteria
– Critically engage with the question and show wide reading
– Critically Evaluate GDP
– Use real economic data and diagrams/graphs and analyse these to show what the graphs represent
– Written in modern English
– Cover all of the unit learning outcomes and the marking criteria.
– Ability to develop ideas / arguments that are well grounded and informed by wide reading around the subject
– very high level ability to draw reasoned conclusions / recommendations, as appropriate.
– a well-structured assignment that is fully and appropriately referenced.