TAILIEUCHUNG - Lecture Economics (18th edition): Chapter 20 - McConnell, Brue, Flynn's

Chapter 20 - Income inequality, poverty, and discrimination. In this chapter, you will learn to: Income inequality in the , sources of income inequality, income inequality since 1970, economic arguments regarding income inequality, poverty measurement and incidence, the . income-maintenance program, labor market discrimination. | Income Inequality, Poverty, and Discrimination Chapter 20 McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter Objectives Income inequality in the . Sources of income inequality Income inequality since 1970 Economic arguments regarding income inequality Poverty measurement and incidence The . income-maintenance program Labor market discrimination 20- Facts About Income Inequality Average household income $66,570 in 2006 Among highest in the world Distribution by quintiles Income mobility People change quintiles Government redistribution Taxes and transfers 20- Facts About Income Inequality (1) Quintile (2) Percentage of Total Income Lowest 20% Second 20% Third 20% Fourth 20% Highest 20% Total Distribution by Quintiles, 2006 Source: Bureau of the Census (3) Upper Income Limit $20,035 37,774 60,000 97,032 No Limit 20- Income Inequality Lorenz Curve and Gini Ratio 20 40 60 80 100 20 40 60 80 100 0 Perfect Equality Lorenz Curve (Actual Distribution) Complete Inequality A B a b c d e f Gini Ratio = Area A Area A + Area B Percentage of Households Percentage of Income 20- Government Redistribution 20 40 60 80 100 20 40 60 80 100 0 Lorenz Curve Before Taxes and Transfers Percentage of Households Percentage of Income Lorenz Curve After Taxes and Transfers Impact of Government Taxes and Transfers 20- Causes of Income Inequality Ability Education and training Discrimination Preferences and risks Unequal distribution of wealth Market power Luck, connections, and misfortune 20- Income Inequality Over Time Rising income inequality since 1970 Causes of growing inequality Greater demand for highly skilled workers Demographic changes International trade, immigration, and decline in unionism 20- Income Inequality Columbia Brazil South Africa Guatemala Mexico United States Italy Japan Sweden Germany 0 10 20 30 40 50 Source: United Nations, Human Development Report, 2007/2008 .

• Kinh tế học
• Lecture Microeconomics
• Economic problem
• Economic principles
• Economic policies
• Income inequality
• Poverty trends
• Microeconomics theory
• Microeconomics applications
• Kinh tế vĩ mô
• Scope of microeconomic theory
• Normative analyses
• Demand curves
• Supply curves
• Consumer choice
• Theory of consumer choice
• Consumption choices
• Substitution effects
• Consumer choice theory
• Excise subsidies
• Economic efficiency
• Competitive equilibrium
• Relating output to inputs
• Empirical estimation
• Cost of production
• Shortrun cost
• Profit maximization
• Perfectly competitive markets
• Competitive model
• Excise taxation
• Monopolist’s demand
• Marginal revenue curves
• Product pricing
• Monopoly power
• Monopolistic competition
• Cournot model
• Game theory
• Economics of information
• Noncompetitive market models
• Iterated dominance
• Input demand curve
• Leisure choice
• Wage rates
• Minimum wage
• Hidden costs
• General equilibrium analysis
• Public goods