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Lectures 1 - Dev Econ - Introduction To Economic Development

This document provides an overview of an introductory lecture on economic development, including defining development economics as focusing on improving conditions in developing countries, outlining key questions about why some countries are rich and others poor, and explaining why the study of economic development is important, such as understanding how underdeveloped countries can reduce poverty and attract investment. The lecture also discusses how interest in development economics emerged in response to events like World War I and the Great Depression.

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Stephen Gubatana
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42 views12 pages

Lectures 1 - Dev Econ - Introduction To Economic Development

This document provides an overview of an introductory lecture on economic development, including defining development economics as focusing on improving conditions in developing countries, outlining key questions about why some countries are rich and others poor, and explaining why the study of economic development is important, such as understanding how underdeveloped countries can reduce poverty and attract investment. The lecture also discusses how interest in development economics emerged in response to events like World War I and the Great Depression.

Uploaded by

Stephen Gubatana
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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DEVELOPMENT ECONOMICS

Lecture #1 (Week 1) : Introduction to Economic


Development
Prof. Cherrie Nuez

1
WARNING: DISCLAIMER
This presentation is for educational purposes only, and
constitute as summary guide of the Professor for
discussions during class. You are not allowed to copy,
distribute and share this to any students outside of class
without prior permission from me. Violation of this will
result in automatic grade of 5.0.

Prof. Cherrie Nuez


What is Development Economics

Development economics is a
branch of economics that focuses
on improving fiscal, economic,
and social conditions in
developing countries.

It considers health, education,


working conditions, domestic and
international policies, and market
conditions with a focus on
improving conditions in the
Image sourced from: https://nebeskie.com/blogs/sustainable_Development_Goals.htm world's poorest countries.
Course Description

The course focuses on the analysis of development


principles, models, and strategies.
It will cover the following:
1. Characteristics and problems of developing countries
2. Criteria of growth and development
3. Strategies and policies for sustainable and inclusive
economic development.
The BIG questions

Why are some countries rich and some countries poor?

Why is there so much


What is the meaning of economic
unemployment in developing
development and economic
countries?
growth?

How can poverty be reduced? What is the impact of


climate change to
sustainable economic
What is the role of technology in development?
development?
Why Study Economic Development?
1. To study about development of different countries, especially developing
economies.
2. To know how underdeveloped countries can develop, reduce poverty, utilize its
resources and foreign capital, and attract foreign investment.
3. To understand government’s role in economic growth and development
• Laws
• Capital
• Market regulation and policies
• Health
• Education
• Employment
• Inequality reduction
• Promoting entrepreneurship
Economic Development as a Subject

1. In the aftermath of 1920s’


World War 1 and in the
wake of Great Depression
in 1930s, there was
renewed interest among
economists in the growth &
development process of a
nation – particularly in the Dorothea Lange's 1936
Unemployed men outside a
role of government. soup kitchen in Depression-
photo Migrant Mother is one of
the most iconic photos
era Chicago, Illinois, 1931. associated with the Great
Sources https://en.wikipedia.org/wiki/Great_Depression_in_the_United_States
Depression.
https://www.thebalance.com/the-great-depression-of-1929-3306033
https://www.bookofdaystales.com/black-tuesday/
Economic Development as a Subject

2. The poor countries


themselves have
become increasingly
aware of their own
backwardness, which
has led to a natural
desire for more rapid
economic growth.
Image sourced from: https://www.ivint.org/rise-in-poverty-another-deadly-symptom-of-covid-19-in-
southeast-asia/
Economic Development as a Subject

3. Most people in the world


live in poverty. 85% of the
world live on less than $30 per
day, two-thirds live on less than
$10 per day, and 1:10 person
lives on less than $1.90 per
day.
The greater awareness on
poverty has struck
humanitarian chord in the
world at large.
Economic Development as a Subject
War and Want: How conflict drives poverty
4. The political and military
ramifications and dangers of a
world divided into rich and
poor countries are even more
serious now than they were in
the past.
Economic Development as a Subject

5. The recognition of
interdependence has also
been heightened in recent
years by the process of
globalization making all
countries more vulnerable to
shocks and financial crises,
which spread through trade
and capital movements.

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