Poverty and Inequality 1- Know some basic trends in GDP and poverty ov.docx

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Poverty and Inequality 1. Know some basic trends in GDP and poverty over time (our conundrum) 2. Review the history of welfare in the US 3. Be familiar with how poverty varies by age, education level, location, gender 4. Understand and explain the difference between poverty and inequality 5. Know the 2 main measures of poverty, how the threshold and resources are determined, be able to provide rationale and drawbacks for each measure 6. Be able to calculate and explain the difference between the headcount and poverty gap index measures 7. Know how inequality is measured a. Be able to draw the Lorenz curve b. Understand how the Lorenz curve is used to calculate the Gini coefficient c. What is the Gini coefficient? Drawback? 8. What is the relationship between inequality and GDP (per capita \& growth)? .

Poverty and Inequality 1. Know some basic trends in GDP and poverty over time (our
conundrum) 2. Review the history of welfare in the US 3. Be familiar with how poverty varies
by age, education level, location, gender 4. Understand and explain the difference between
poverty and inequality 5. Know the 2 main measures of poverty, how the threshold and resources
are determined, be able to provide rationale and drawbacks for each measure 6. Be able to
calculate and explain the difference between the headcount and poverty gap index measures 7.
Know how inequality is measured a. Be able to draw the Lorenz curve b. Understand how the
Lorenz curve is used to calculate the Gini coefficient c. What is the Gini coefficient? Drawback?
8. What is the relationship between inequality and GDP (per capita & growth)?

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