Economic Development Indices Questions Medium
The Education Index is a component of the Human Development Index (HDI) that measures the average level of education attainment in a country. It is calculated based on two indicators: mean years of schooling and expected years of schooling.
Mean years of schooling refers to the average number of years of education received by individuals aged 25 and above, taking into account both formal education (such as primary, secondary, and tertiary education) and informal education. This indicator reflects the overall educational attainment of the population.
Expected years of schooling, on the other hand, measures the number of years of education that a child of school entrance age can expect to receive if prevailing patterns of educational enrollment continue throughout their life. It provides an estimation of the future educational opportunities available to the younger generation.
Both indicators are standardized and combined to calculate the Education Index, which ranges from 0 to 1. A higher Education Index value indicates a higher level of education attainment and access to education in a country. The Education Index is an important measure of human capital development and is used to assess the educational achievements and potential of a nation.