Chapter 28-29 Global and some Macro

What is HDI?

Human development index: A tool crated by the Uniteed Notions Development programme to measure a country’s overall achievement.

Components of HDI?

Health, Education and Standard of living

How is health measured by in HDI?

life expectancy and infant mortality rate per 1,000 births

How is standard of living measured by HDI?

GNI per capita

How is education measured in HDI?

Expected years of schooling (for children entering school), and mean years of schooling (for adults over 25 years old).

Purchasing power parity (PPP)

Compares the buying power of different country currencies. shows the true cost of living and allows comparisons of wealth between nations

Gender Inequality Index (GII)

Measures gender inequalities in three aspects of human development.

Reproductive health: measured by maternal mortality ratio (number of maternal deaths per 100,000 live births) & adolescent birth rates (number of births to females aged 15–19 per 1,000).

Empowerment: measured by the proportion of women in elected office & proportion of adult women with at least a secondary education.

Economic status: measured by workforce participation for females over 15 years old.

Inequality-adjusted Human Development Index (IHDI)

HDI adjusted for gender inequality

Happy Planet Index (HPI)

(wellbeing x life expectancy x inequality of outcomes)/ecological footprint

Multidimensional Poverty Index (MPI)

Measures the deprivations experienced by the poor people in three key areas. Health, Education, and Standard of living.

Inclusive Development Index (IDI)

Project of the World Economic Forum. Growth & development, inclusion, intergenerational equity & sustainability.

Lorenz curve

A graphical line that shows how income wealth is distributed across a population. Number closer to 0 means less inequality.

GDP deflator

A GDP deflator is a measure of overall price changes (inflation or deflation) for all goods and services produced within a country.

GDP per capita

A country’s total economic output divided by it’s total population.

Real GDP

Adjusts for inflation over time, making it the most reliable metric to track economic growth

Nominal GDP

Measures a country's total economic output using current market prices without adjusting for inflation.

GNI

Total income earned by a country’s factors of production regardless of where the assets are located