| LG1: Is wage inequality the major source of inequality? | LG2: What causes wage inequality? | LG3:what is skill biased technological progress? | LG4:is there a tendency towards inequality in our model/economy? |
|---|---|---|---|
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Gini Coefficient
What tool is used by economists to measure Inequality?
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Male, female - age - education
What differences does wage inequality depend on? Name all three
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The 3rd industrial revolution
A historical event initiated the boost of wage inequality in a view of skill-biased technological progress. What is the name of the event?
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Yes, as covered by our presentation we see many instances and reasons for wage inequality eg. Education levels
Can we see a pattern of inequality in our economy? Name an example
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0 represented Perfect Equality and 1 represented Perfect Inequality
On the Gini Scale, what did 0 and 1 represent?
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Upward sloping, pregnancy got ‘postponed’ age wise
What trend did the pregnancy graph have? Describe
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Development of technology and introduction of new production methods - Higher needs of highly skilled, educated labor - Wage premium occurs to high educated(skilled) people - wage inequality deepened
Explain the progress with the reason why the wage inequality resulted by skill-biased Technological progress
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The gap is widening over time
What has the trend of wage inequality been like over time?
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