Relationship between equality and equity

Unequal distribution of income

Unequal distribution of wealth

Lorenz curve and Gini coefficient (index)

Difference between absolute and relative poverty

Single indicators including:

Single indicators including: — international poverty lines

Single indicators including: — minimum income standards

Composite indicators including the

Multidimensional Poverty Index (MPI)

Difficulties in measuring poverty

inequality of opportunity

different levels of resource ownership

different levels of human capital

discrimination (gender, race and others)

unequal status and power

government tax and benefits policies

globalisation and technological change

market-based supply side policies

The impact of income and wealth inequality on:

Unit 3: Macroeconomics

economic growth

standards of living

social stability The role of taxation in reducing poverty, income and wealth inequalities

Progressive, regressive and proportional taxes

Progressive, regressive and proportional taxes — Average and marginal tax rates

Direct taxes

Direct taxes — Personal income

Direct taxes — Corporate income

Direct taxes — Wealth

Indirect taxes

policies to reduce inequalities of opportunities/ investment in human capital

transfer payments

targeted spending on goods and services

universal basic income

policies to reduce discrimination

minimum wages

How the government of a chosen country has responded

The costs of unemployment or inflation on different

The successes/failures in meeting government objecti countries over a given period of time.

The successes/failures of measures adopted to reduce country.

How key stakeholders (such as businesses and governm with limited resources.

The cause of trade-offs between economic growth and be addressed.

What sustainable economic growth might look like and