ECO352H5 Lecture Notes - Lecture 1: Millennium Development Goals, Big Data, Poverty Trap
Document Summary
Assignment = 27%, midterm = 20% , exam = 45% Assignments equivalent to exam type questions that are ** Definition of poverty - ability to satisfy basic needs. Lack of income, associated characteristics (lack of knowledge, etc) Decrease negative externalities (e. g. decrease crime rate, health care costs) Direct: compassion, empathy, human rights, dignity, idea of min living standard = still appealing. Indirect: poverty lead to wasted human potential, high social cost, address pareto. Textbook 2 and 3 are online, need to buy book. X axis= income today, income tomorrow = y axis. No poverty trap: (concave , inverse l shape) . Poverty trap: s- shape (convex) positive shock (shift right) Two equilibriums, temporary boost can lead to convergence to positive / good equilib. Poverty rate: percentage of population (individuals/households) below poverty line other measures that also account for depth of poverty.
