Other measures of standard of living

The UN HDI

HDI is an aggregate index of living standards with 3 main components

–Education 

–Income (measured by real GDP per capita)

–Life expectancy at birth

The value of the HDI is between 0-1

Any country with a HDI of 0.8 is Highly Developed and can be known as an MDC (Most developed Economy)

The main focus of HDI is on the “escape from poverty” – defined as an index score of less than 0.5 (countries with a HDI.0.5 would be known as LEDC Lesser economically developed country)

Do some research on HDI stats.... what can you find out. Which country is the highest and which is the lowest (look at life expectancies in LEDCs quite horrific!)

How is Indonesia doing now and how has it improved over time?