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\nMeasuring Income Inequality within an Economic System\n

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\nThis video explains how income inequality can be measured within an economic system using the Lorenz curve and the Gini index. The presenter explains the Lorenz curve and how it visually represents the state of inequality within a...\nThis video explains how income inequality can be measured within an economic system using the Lorenz curve and the Gini index. The presenter explains the Lorenz curve and how it visually represents the state of inequality within a system. The Gini index is also introduced, which provides a statistical representation of inequality. The video concludes by discussing how to interpret the Gini coefficient and includes a chart showing the Gini index for the UK over several decades.\n
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Resource Details

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Curator Rating
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Educator Rating
Not yet Rated
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Media Length
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12:34
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Grade
12th - Higher Ed
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Subjects
Math
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Media Type
Instructional Videos
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Source:
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\nKnowMo Economics\n\n
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Date
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2019
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Language
English
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Audiences
For Teacher Use
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Usage Permissions
Fine Print: Educational Use
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Additional Materials

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\" data-title=\"Get Full Access\" data-container=\"body\" rel=\"popover\" tabindex=\"0\" href=\"/subscription/new\">Video Transcript\n
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Concepts

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economics, income, equality, index, population, segments, area
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Additional Tags

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a-level, lectures, micro, distribution, of, 11.1b, measuring, inequality, income share, population segment, cumulative percentage, running tally, genie coefficient, lorenz curve, income generated, total income, perfect equality, genie index, economic system, total population, equality area, curve, system, real, presentation, situation, richest, axis, jumps, bottom 10%, state
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Classroom Considerations

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Best For: Explaining a topic
Video is ad-free
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Educator Ratings

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\n\" data-title=\"Get Full Access\" data-container=\"body\" rel=\"popover\" tabindex=\"0\" aria-label=\"Play video: Measuring Income Inequality within an Economic System\" href=\"/subscription/new\">\"Measuring\n\n
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