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Please write a one-page summary of chapters 5 and 6 of the textbook. The following points will help you write the summary.
1. How do we measure wellbeing? Discuss why income or consumption can be an indicator of well-being.
2. How do we define poverty? Discuss a measure of poverty.
3. Why growth is crucial for poverty elimination? Can growth be pro-poor and anti-poor? What is inclusive growth (Ch6, last page)?
4. Discuss the difference between inequality and inequity.
5. Discuss the stylized fact: inequality increases initially when income per capita increases and then declines.
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