Studying the economy of any country can be very enlightening. Macroeconomics, which studies the economy as a whole, (Boyes & Melvin, 2012) can provide information on the economic performance of any country. The use of economic indicators such as growth domestic product (GDP), GDP per capita, GDP spent on military spending and population growth rate can be effective when analyzing the overall well-being of countries such as Australia and India . Economic indicators are also useful for comparing specific areas of interest between countries. For example, life expectancy at birth in Australia increased by an average of one month per year from 81.3 in 2007 to 81.8 in 2011, and in the United States (US) it increased by approximately 2 months per year from 77.8 in 2007 to 78.6. Furthermore, life expectancy in India increased by an average of 3.2 months per year, from 64.8 in 2007 to 66.0 in 2011 (Worldbank.org, 2014). These findings may imply that the slow increase in life expectancy may have a negative effect on life expectancy. economic growth. Comparing the GDP per capita of the same countries, Australia stands at $67,555.8 in 2012, India at $1,489.2, and the United States at $51,748.6. (Worldbank.org) The GDP per capita results imply that Australia is the richest of the three countries. However, GDP suggests otherwise. Australia is worth $1.532 trillion in 2012, India is worth $1.842 trillion in 2012, and the United States is worth $16.244 trillion in 2012, this would suggest that the United States is the richest. However, using GDP per capita can provide a more accurate picture because it takes the GDP and divides it by the population to show the country's prosperity. (Amadeo, 2014)Australia was rated “the happiest industrialized country in 2013” ​​by the OECD's Better Life Index which...... half of the document......B. (2005). India's competitive advantage. (Master's thesis) Retrieved from http://csi.gsb.stanford.edu/the-competitive-advantage-of_india Rupee's journey since independence: Down 65 times against the dollar. (2013). Economic times. Retrieved from http://articles.economictimes.indiatimes.com/2013-08-24/news/41444029_1_indian-rupee-american-currency-continued-dollar-demand World Bank: Database. (2014). Explore. Create. Share. Retrieved January 26, 2014, from http://databank.worldbank.org/data/views/reports/tableview.aspxThe World Fact Book (2014) Central Intelligence Agency. Retrieved January 27, 2014, from: https://www.cia.gov/library/publications/the-world-factbook/geos/in.htmlWall Street Journal (2013). Australia tops the “better life” list. Retrieved February 9, 2014, from http://online.wsj.com/news/articles/SB10001424127887323855804578508554126690568