From Data to Disparity: The Math Behind Income Inequality Measures

Talking about economic developments in a country and overlooking income inequality might be a joke. Hence, in my microteaching, I aim to discuss the economic state of a country based on the calculations of income inequality. The challenge is that 15 minutes might be less; however, my plan to cover inequality despite the time constraint is as follows:

I will highlight the learning outcomes, then discuss the concepts of inequality. Using relevant graphs (Lorenz curve, Histogram, and Summary Statistics), I will explain the income distribution using real-life examples. To ensure that students learn what I teach, we will do an activity together. I will provide a summary statistics table with relevant data and students will be required to graph the Lorenz curve and calculate the Gini coefficient which will reveal the extent of income inequality. Calculation of the Gini coefficient is a bit tricky, therefore, I will include a link to a YouTube video that will show how the Gini coefficient can be calculated using Excel.

In this microteaching session, students will be able to enhance their analytical skills in evaluating income disparities. This will help students identify how countries fare against each other and why development indicators are important.

Get ready to draw the line on inequality — because with Lorenz curves and Gini coefficients, it’s all about measuring the gap without falling into it.

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