Tuesday, 18 October 2011

Alternative Development Indicators: The Big Mac Index

So i was teaching my Upper Sixth today introducing the Development Gap and how development can be measured; specifically how PPP (purchasing power parity) is more robust than GDP/GNI.

The Economists in the room, of which there are many, started to pipe up about other comparative measures like the Big Mac Index - i had not heard of this, but low and behold here it is in all of it's glory:

Websites to explore in more depth:


Questions to consider and discuss:

1. Is there a 'best' measure of levels of development and development per se? If so, what is it and why? If not, what is a food combination?
2. How could the reliability of certain measures be improved?