ECS 3013 Lecture Notes - Lecture 6: Gini Coefficient, Lorenz Curve, Sub-Saharan Africa
Document Summary
Extreme poverty- making less than 1. 90 a day. Poverty in us- official poverty rate is 12. 7% Extreme poverty= absolute poverty: severe depreciation of basic human needs like food, water, sanitation, health, shelter, and education. Vast majority live in sub-saharan africa, south east asia and pacific. Major explanation for degree of absolute poverty: low level of total production and gdp per capita + distrubution of national income. Increases in gdp per capita typically benefit those below the poverty line as well as those who live near or considerably below it. Inequality- disparities in the dist of econ assets and accumulated wealth. Measuring inequality- dist of income, dist of consumption. Analytical tools used: frequency dist, size dist, lorenz curve, gini coefficient, frequency distribution- list of the values that a variable takes in a sample. Ordered by quantity showing the number of times each value appears.
