The HD full form is Human Development Index (HDI). It is an index that accesses the main dimensions of human development. The 3 areas that are important to measure HDI are healthy and long life in terms of life expectancy, education access, and a decent standard of living. The HDI is published United Nations Development Programme or UNDP regularly. HDI metrics can showcase the difference between several countries in the key dimensions of human development. Therefore, HDI can be the main parameter for accessing economic growth and the overall development of the country.
How is the HDI Calculated?
The HDI full form is Human Development Index. There are two steps to calculate the HDI. These are as follows: Do note- the 4 metrics refer to the life expectancy, expected years of schooling, GNI per capita, and average years of schooling
- Forming indices for each of the 4 metrics: In this step, the value of the 4 metrics are made to index value (0-1). Next, with the actual value of a given country and the world maximum and minimum, the calculation is done: Dimension Index =Actual Value-minimum value/maximum value-minimum value.
- Aggregating the 4 metrics to produce the HDI: In this step, the calculation of HDI is done as the Geometric Mean (equally weighted) in terms of education, life expectancy, and GNI per capita. The calculation is as follows: HDI =(I Health × I Education× I income)/1/3
Main Components of HDI
The main components of HDI are health, education, and the standard of living. Below we have described this in detail.
- The main component of HDI is having a long and healthy life. That is, the life expectancy
- The second component is in terms of the expected and average years of schooling. That is, the years of schooling expected (school entry age) and the mean years of schooling (adults)
- The third component of HDI is the standard of living. That is, the Gross National Income or the GNI per capita
Also Read: Best countries with free education
The HDI full form is Human Development Index. HDIs indicate the overall development and economic growth of a country.To discover more articles like this one, visit the study abroad experts at Leverage Edu.