Economics Daily

Expanding Global Economies: The Human Development Index

HDI

The Human Development Index (HDI) was created to emphasize that people and their capabilities shoud be the ultimate criteria for assessing the development of a contry, not economic growth alone. The HDI is comprised of three components:

The Human Development Index is a summary measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable and have a decent standard of living. The HDI is the geometric mean of normalized indices for each of the three dimensions.

Life Expectancy

Life Expectancy is comprised of the life Expectancy Index, i.e. life expectancy at birth, which is dependent upon access to healthcare throughout the country

Education

Education is shown using the Education Index based on the mean and expected years of schooling.

GNI

The GNI is represented by the Income Index which will determine the average income and standard of living.

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