The Gini-coefficient is a statistical measure of inequality that describes how equal or unequal income or wealth is distributed among the population of a country. It takes a value between 0 and 1, and a higher Gini-coefficient is associated with higher inequality. The Gini coefficient is equal to A/(A+B), where A and B are as labeled in the diagram above. Gini Coefficient is a measure of the income inequality in a country or between countries. In order to mathematically calculate the areas of regions A and B, it is generally necessary to use calculus to calculate the areas below the Lorenz curve and between the Lorenz curve and the diagonal line. Thus, a country in which every resident has the same income would have an income Gini coefficient of 0. If you're doing an economics degree and thinking about ways to maximise your career prospects once you graduate, there are lots of courses outside the realm of economics for you to choose from. From business to programming to statistics, there are plenty of areas which can help you improve your chances of getting a job and widen your skillset more generally, if you've got the money and time to enrol on one. Lesotho currently holds the distinction of the country having the highest Gini Coefficient at 0.632. Dobrym przykładem tego rodzaju kryterium jest współczynnik Giniego. Our favorite caricature of a post-doctoral researcher: a frail man (or woman) with unkempt hair, hunched in front of a computer screen, with a half-filled cup of coffee by his side. In an economic context, it is important to understand what this coefficient or index is, how is it measured and what is India’s current status, for the IAS exam.. Gini Coefficient – UPSC Notes:-Download PDF Here Therefore, the area labeled A in the previous diagram is equal to zero in perfectly equal societies.

The Gini-coefficient is a statistical measure that is used to compare different distributions (of income or wealth).

higher levels of equality).

Gini Coefficient Definition The Gini coefficient is a statistical measure used to calculate inequality within a nation.

The Gini-coefficient is represented graphically by Lorenz-curves as seen in the figure below. The explanation is given below in points: Gini coefficient is useful because it projects negative values for income and wealth which standard measures of inequality are unable to provide. He is in a state of eternal tapasya – meditating on his eternal love-affair with knowledge… because, life is an eternal quest for knowledge! It takes into account which percentage of total income (or wealth) in a country is owned by what share of the country’s population.

Gini Coefficient – UPSC Notes:- Download PDF Here. It does so by calculating the wealth distribution between members of the population.

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