Gini Coefficient
- Levels: AS, A Level, IB
- Exam boards: AQA, Edexcel, OCR, IB, Eduqas, WJEC
What is the Gini Coefficient?
The Gini coefficient is a commonly-used measure of income inequality that condenses the entire income distribution for a country into a single number between 0 and 1: the higher the number, the greater the degree of income inequality.
What do the values for the Gini coefficient mean?
- A value of 0 corresponds to the absence of inequality, so that, having adjusted for household size and composition, all individuals have the same household income.
- In contrast, a value of 1 corresponds to inequality in its most extreme form, with a single individual having all the income in the economy
- The latest value for the Gini Coefficient in the UK is 0.34
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Geoff Riley FRSA has been teaching Economics for nearly thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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