Easy Guide to Drawing the Lorenz Curve and Calculating Gini Coefficient for Beginners!
Автор: In Case of Econ Struggles
Загружено: 2025-06-19
Просмотров: 614
📝 Description:
Struggling to understand Lorenz Curves and how to calculate the Gini Coefficient? In this video, I walk through both discrete data examples and smooth curves using integrals to show how economists measure inequality. Learn how to plot the Lorenz Curve step-by-step and understand how to calculate the Gini Coefficient from the Lorenz Curve!
📌 What you’ll learn:
-How to plot a Lorenz Curve using discrete data
-How to calculate the Gini Coefficient using the formula
-How to calculate Gini using integrals when you have a smooth curve
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Timestamps:
0:00 - How Economists Measure Inequality
1:05 - Drawing the Lorenz Curve
2:40 - The Gini Coefficient Intuitively
3:22 - Calculating the Gini Coefficient
4:49 - Example Problem 1 - Discrete Data
7:17 - Example Problem 2: Smooth Functions
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