Comparative Development Econ 333

A set of vocabulary flashcards covering key terms from the Comparative Development lecture notes, including GDP, GDP per capita, HDI and its components, income inequality, development classifications, doubling time, and well-being indicators.

Gross Domestic Product (GDP)

The market value of all final goods and services produced within a country in a given period.

GDP per capita

GDP divided by the population; the average income of one person.

GDP (PPP) per capita

GDP per capita adjusted for purchasing power parity; used to compare living standards across countries.

Human Development Index (HDI)

A composite index ranking countries by longevity, knowledge, and living conditions. HDI = (1/3)(income index) + (1/3)(life expectancy index) + (1/3)(education index).

Life expectancy index

HDI component that measures life expectancy, scaled to a 0–1 range; part of the HDI calculation.

Education index

HDI component that measures education; calculated as Education index = (2/3)(adult literacy index) + (1/3)(gross enrollment index).

Income index

HDI component derived from GDP per capita using a log transformation relative to reference values.

Gini coefficient

A measure of income inequality within a country; higher values indicate greater inequality.

Income categories (as shown in notes)

Low income: ≤ $1025; Lower-Middle: $1026–$4035; Upper-Middle: $4036–$12475; High income: > $12476.

Doubling time

The time it takes for a variable to double; DoublingTime = 70 / Growth Rate.

Growth rate

The annual percentage rate of change of a variable (e.g., GDP, population).

Night Light (satellite proxy)

Night-time satellite imagery used as a proxy for human activity and development; reveals the footprint of human presence.

Night Light as a development indicator

Night light data provide a visual proxy for economic development and urbanization.

Subjective well-being (SWB)

Global projection showing how people feel about their lives; high SWB compared to low SWB.

Life satisfaction

Self-reported rating of how satisfied individuals are with their lives (often on a 0–10 scale).

Happiness index map

A global map showing relative happiness or well-being across countries; labeled from most happy to least happy.

Developed vs Developing countries

Developed: high income; located in Western Europe, North America, Japan, Australia, New Zealand. Developing: low to upper-middle income; widespread across Africa, Asia, Latin America, etc.

HDI categories

HDI ranges classify countries as low (0–0.499), medium (0.5–0.799), or high (0.8–1.0) human development.

Real GDP Growth Rate (2018)

The rate at which real GDP grew in 2018, measured with inflation-adjusted values.