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Measuring economic activity

Saturday, 26 October 2019 2.30pm
Kathleen Syme Library, 251 Faraday St, Carlton

Join us for a presentation by Associate Professor Philip Lawn as he deconstructs the metric of gross domestic product (GDP) by explaining how it is calculated and currently employed as a measure of national productivity and well-being within the field of economics.

He will go on to highlight the deficiencies of the GDP metric as a measure of national well-being and explain his own work on developing a superior alternative to the GDP, the Genuine Progress Indicator (GPI), for assessing how the effects of our increasingly innovative and expanding society relate to our health and prosperity.

Associate Professor Philip Lawn is a Research Scholar at the Global Institute for Sustainable Prosperity, a Senior Research Fellow with the Centre of Full Employment and Equity (University of Newcastle) and Visitor at the School of Economics (University of Adelaide).

Over the past decade Philip has written and edited a number of books and articles on the principles, indicators, and policy aspects of sustainable development. Philip conceived of The International Journal of Environment, Workplace, and Employment (Inderscience) in 2004. Philip became the founding editor of the journal and remained in the position until 2008. At the same, Philip has been a Guest Editor of The International Journal of Environment and Sustainable Development (Inderscience). Philip is also in demand by Australian state governments having undertaken commissioned work for the Victorian and Queensland Governments.

Previous forums

Sectoral Balances and Stock-flow Consistent Modelling

Held Saturday 21 September 2019

Dr. James Juniper explained the principles of sectoral balances and stock-flow consistent modelling. Sectoral balances and stock-flow consistent modelling are rigorous accounting frameworks for macroeconomic analysis, which guarantee a comprehensive integration of all the flows and the stocks of an economy, improving the transparency and logical coherence of macroeconomic models.

Dr. Juniper demonstrated how these frameworks can be applied to analyze real-world economic events such as the GFC or the provincial debt and asset-price inflation in China.

Dr Juniper is a conjoint lecturer of the University of Newcastle and current supervisor of 6 PhD students. 

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