Student blog: What is global prosperity?
Global Prosperity MSc student Cristina explores how UCL’s Institute for Global Prosperity redefines prosperity beyond GDP, towards well-being, sustainability, and equity to address global challenges.
What Is prosperity? A new definition for the 21st century
I’m Cristina Guevara, a Legislative and Policy Advisor from Panama with a background in international affairs and policy analysis. I chose to study at the UCL Institute for Global Prosperity because of its interdisciplinary approach to prosperity, which challenges traditional economic models and emphasises inclusive, sustainable development. Since joining the Global Prosperity MSc at the Institute, I've been thinking a lot about prosperity—what does it mean?
Since its inception, Gross Domestic Product (GDP) has been the primary measure of a nation's economic health. While GDP effectively captures the monetary value of production and consumption, it fails to account for several crucial factors such as health, well-being, happiness, unpaid care work, and environmental degradation. In essence, the problem is not what GDP measures, but what it overlooks. In light of 21st century challenges like climate change and inequality, it’s clear that prioritizing GDP growth alone has led us to this unsustainable point. We must seek alternatives.
UCL’s Institute for Global Prosperity: Measuring what matters
Enter UCL’s Institute for Global Prosperity (IGP), founded in 2014 as a “a bold bid to uncover an alternative to the current failed model of economic growth” (UCL News, 2014). The UCL IGP is dedicated to uncovering new solutions to the global crises we face—environmental, social, and economic—and exploring how these solutions can be applied worldwide. Through its research labs in the UK, Lebanon, and Kenya, the IGP is redefining prosperity by focusing on a broader set of indicators, such as access to basic services, financial and political inclusion, and environmental quality.
Because what we measure affects what we do, the shift from traditional economic models to one that includes a wider range of metrics can have a profound impact on policymaking. That is what the Institute for Global Prosperity is all about—measuring what matters and adapting policies to reflect those priorities.
How UCL’s international development and relations courses shape future leaders
Through postgraduate degrees focused on global prosperity, people and planet, or innovation and entrepreneurship, students are encouraged to challenge conventional thinking. They are empowered to design innovative policies and technologies that can secure a prosperous future for all. And along the way, they will connect with like-minded peers from around the globe, exchanging ideas and experiences.
Readings on post-growth economies and lectures on alternative prosperity models have challenged my previous focus on GDP-driven growth, pushing me to consider well-being and equity as central indicators. My coursework and research projects have allowed me to explore real-world policy challenges, particularly in education-focused development programs and urban sustainability. Engaging with a diverse group of students and faculty at the Institute has broadened my perspectives, showing me how different cultural and regional contexts shape prosperity and reinforcing the importance of localised, community-driven solutions.
Ultimately, my definition of global prosperity has shifted from a purely economic perspective to a more holistic view that prioritises social well-being, environmental sustainability, and localised solutions.
I believe the Institute for Global Prosperity is the place to be for those seeking to contribute to prosperity—one that does not ignore but goes beyond GDP and prioritises human well-being, environmental sustainability, and social equity.
Are you interested in studying a postgraduate degree in global prosperity at UCL?
Discover more about our courses and the career opportunities they could unlock by visiting the UCL Graduate prospectus.