19c96fd5174bda1ab185c8d 20210401044223299 ijaas ch.ta.yeh@gmail.com WEB-FORM International Journal of ADVANCED AND APPLIED SCIENCES Int. j. adv. appl. sci. 2313626X 23133724 6 2021 6 2021 8 6 Department of Economics, Faculty of Economics and Administrative Sciences, Uşak University, Uşak, Turkey Mehmet Hilmi Özkaya Maeen Alhuwesh Department of Economics, Faculty Administrative Sciences, Taiz University, Taiz, Yemen Assessing a certain country’s macro-economy performance faces innumerable challenges, of which the most important ones are running counter to the objectives of economic policy. Added to these challenges is the absence of a consensus among economists regarding the identification of variables, which can be taken for granted while assessing a country’s macro-economy performance? The present study aims at assessing Yemen’s macro-economy performance during the period 2001-2015 using the four economic variables (economic growth, unemployment, inflation, and current account) that constitute Kaldor’s Magic Square chart of 1971. To avoid challenges connected with variables’ measurement, the economic welfare indicator has been used. The findings show a drastic deterioration in the level of economic welfare during the period mentioned above, with an impressive decrease in the value of economic welfare from 0.36 in 2001 to zero in 2015 as the magic square scale showed. Assessing the economic performance during the period showed that the economic performance in 2001 was better than that of 2015, with a departure of Yemen’s economic performance from the performance of the wonderland economy. Hence, Yemen’s economy can be described as an ill-performance economy, basically due to the high averages of unemployment and inflation. 6 2021 6 2021 118 127 10.21833/ijaas-crossmark www.science-gate.com false IASE www.science-gate.com 10.21833/ijaas.2021.06.014 http://www.science-gate.com/IJAAS/2021/V8I6/1021833ijaas202106014.html http://science-gate.com/IJAAS/Articles/2021/2021-8-6/1021833ijaas202106014.pdf