The Human Development Index: An Overview
The Human Development Index (HDI) is a statistical tool used to assess a country's social and economic development. It measures the average achievement of a country in three basic dimensions of human development: 1. Life Expectancy: A long and healthy life, measured by life expectancy at birth. 2. Education: Knowledge, measured by the expected years of schooling for school-age children and average years of schooling in the adult population. 3. Income: A decent standard of living, measured by Gross National Income (GNI) per capita. How is HDI calculated? HDI is calculated using a combination of these three dimensions. Each dimension is given a weightage, and the scores are then aggregated to produce the final HDI score. The formula for calculating HDI is: HDI = (Life Expectancy Index x 1/3) + (Education Index x 1/3) + (Income Index x 1/3) HDI Components and their Weightages 1. Life Expectancy Index (LEI): 33.33% - Life expectancy at birth (years) 2. Education Index (EI): 33...