1. Read the article in gdp_economist.jpg and do more of your own research to answer the following questions:
1.1. Is GDP a good indicator for social welfare?
1.2. What are differences between GDP and gross national happiness?
1.3. Explain why the three approaches to calculate GDP theoretically give the same figure.
1.4. In the case of Thailand, which approach is used?
2. Read the article in inflation1.jpg and inflation2.jpg. Give your opinion in a group discussion about which inflation indicator should be used in policy decision-making.
3. In the database program like Datastream and CEIC, you will see the following terminologies. Explain what they mean.
3.1. GDP, Thailand, current price, not SA.
3.2. Consumer Price Index, average, YoY, Malaysia, %.