Amartya Sen reshaped welfare economics by asking what resources actually enable people to do, from escaping famine to expanding freedom and capability.
Poverty is shaped by income, prices, jobs, health, services and shocks. Learn how monetary, relative and multidimensional poverty are measured.
Purchasing Power Parity compares what currencies can buy across countries. Learn how PPP works, where it is used and why it differs from exchange rates.
The Human Development Index combines health, education and income to compare human progress across countries beyond GDP and economic output.
The Gini coefficient measures how evenly income or wealth is distributed. Learn how the index works, how to read it and where its limitations lie.
Per capita income shows the average income per person in an economy. Learn how it is calculated, what it indicates and where the measure can mislead.
economic growth, economic development, GDP, HDI, inclusive growth, human development, living standards, development economics
Sustainable economic growth aims to raise incomes and productivity without undermining social inclusion, resources or long-term environmental stability.
A demographic dividend can boost economic growth when the working-age population expands, but success depends on jobs, skills, health and productivity.
The middle income trap occurs when an economy grows rapidly but then struggles to reach high-income status. Learn why productivity and innovation matter.
Globalisation connects economies through trade, investment, technology, migration and supply chains. Learn its economic benefits, risks and unequal effects.
