Quantitative Analysis (QA) Definition

Running head: ECONOMIC AND QUANTITATIVE ANALYSIS
Economic and Quantitative Analysis
Name of the Student
Name of the University
Author note

ECONOMIC AND QUANTITATIVE ANALYSIS1
Table of Contents
1. Purpose...................................................................................................................................2
2. Background............................................................................................................................2
3. Method...................................................................................................................................3
4. Result......................................................................................................................................3
5. Discussion..............................................................................................................................7
6. Recommendation....................................................................................................................7
List of References......................................................................................................................9

ECONOMIC AND QUANTITATIVE ANALYSIS2
1. Purpose
Main purpose of the report is to research how income is associated with life
satisfaction by considering empirical data on yearly per capita GDP and life satisfaction score
of some selected nation.
2. Background
Research on the impact of income on level of satisfaction is long since one attractive
research area for the economists and policy makers. Many economists attempted to establish
a link between economic factors and subjective well-being. One reason for studying state of
life satisfaction of people is attainment of happiness is primary target of many policies.
Previous literatures conducted extensive researches to identify different factors affecting life
satisfaction (Cheung and Lucas 2015). One pioneering literature in the discussion of income
and life satisfaction is the Easterlin Pardox (1974). The literature was based on the study of
happiness in USA. The paper described the link between happiness and income as no
significant relation between life satisfaction and income from the observation that after World
War II responses to happiness among people remained flat in the phase of increasing average
income (Mikucka, Sarracino and Dubrow 2017). Study carried out on Germany, UK and
Japan later support the result of Easterlin’s finding. On the other end there are literatures
supporting a positive relation of life satisfaction and happiness. Another panel study found a
positive association between household wealth level and consumption spending and
happiness. These conflicting literatures raised question on whether macroeconomic factors in
effect have any significant impact on life satisfaction (Lenzi and Perucca 2016). On such a
background of research, the paper develops its own model to examine the relation.