February 20th, 2020 
NO REFERENCES ARE REQUIRED.
PLEASE ANSWER ANY Five OF THE FOLLOWING nine QUESTIONS THEY ARE EACH WORTH 5 POINTS.
THE ANSWERS TO EACH QUESTION SHOULD BE IN THE FORM OF SHORT PARAGRAPHS.
NO REFERENCES ARE REQUIRED.
1. A. What does the term wellbeing mean to you?
B. Does it make sense to think of wellbeing as the objective of public policy?
C. What specific challenges does wellbeing as a public policy objective raise for policy makers? Be specific.
D. Are these challenges surmountable? Briefly explain your answer.
2. A. Why is it important to measure wellbeing if it is going to be the objective of public policy?
B. Give three alternative measures of wellbeing that have been suggested in the context of public policy.
C. What are their comparative advantages?
D. Which one of these do you prefer? Explain your answer.
3. A. Summarise three key messages (take-outs) you got from Kate Pricketts lectures.
B. Summarise three key messages (take-outs) you got from Chelsey Reids lecture.
C. Why are these messages important for the design and implementation of public policy?
D. Which two take-outs would you prioritise in the next phase of New Zealands wellbeing policy? Briefly explain your answer.
4. A. Why do we need cost-benefit analysis (CBA) in public policy?
B. What specific challenges arise when CBA is applied to public sector investments?
C. In general terms, what is the interface between CBA and wellbeing policy?
D. How are wellbeing considerations brought into the CBA in Treasurys CBA(x) tool?
5. A. What are some of the key differences and similarities between NZ and other countries in terms of the way they are approaching their wellbeing focused public policies?
B. What can we learn from other countries in this context?
C. Which aspects of what other countries are doing impress you most? Explain.
D. What is your main concern about New Zealands public policy approach to wellbeing?
6. A. What do we mean by intergenerational wellbeing?
B. What is the relationship between sustainability and intergenerational wellbeing?
C. How does systemic resilience relate to sustainability why do we need it how does it add value?
D. Can you think of any institutions that were deliberately created to achieve/deliver various forms of systemic resilience or sustainability towards supporting intergenerational wellbeing how do they contribute?
7. A. Why are capital stocks such an integral part of New Zealand’s Wellbeing Framework?
B. Are there any major categories of capital stocks missing from the standard list of four?
C. Identify 2-3 examples for each of the capital stock categories listed in the wellbeing framework.
D. What are the critical links / interfaces between a wellbeing-focused public policy and these capital stocks?
8. A. What is the key message of Richard E Easterlin in the short piece: “Happiness or GDP?”
B. Do you agree? Explain your answer.
C. What have been the main drivers behind the gradual (re)float of “wellbeing” to the surface as a primary focus of public policy – in NZ as well as around the world?
D. What are the pre-conditions for this new focus on wellbeing as a main objective of public policy “to stick” – i.e. to become the official goal of public policy?
9. A. What is the essence of Universal Basic Income UBI as a public policy instrument?
B. What public policy issues / concerns is it intended to address?
C. How do these potentially relate to the wider “wellbeing” focus of public policy?
D. What are the main obstacles to it being applied broadly?
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