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Econdev Report

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16 views9 pages

Econdev Report

Ajsjejsjejsnss

Uploaded by

hanicoleshin
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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BBE 4303

ECONOMIC
DEVELOPMENT
Presented by: Hariette Nicole Victoria
ECONOMICS
A branch of Social Science that deals with
the study of the efficient allocation and
utilization of limited resources for
production, distribution, and consumption
of goods and services to satisfy the
unlimited needs and wants of people.

Economics is the study of choice.


DEVELOPMENT
It is the process of expanding people’s
living, self esteem and freedom in order to
improve the quality of all human lives.
It is "the enhancement of freedoms that
allow people to lead lives that they have
reason to live". Hence "development requires
the removal of major sources of unfreedom:
poverty as well as tyranny, poor economic
opportunities as well as systematic social
deprivation, neglect of public facilities as well
as intolerance or overactivity of repressive
states". -Prof. Amartya Sen 1998
ECONOMIC DEVELOPMENT
It refers to economic growth accompanied by changes in output
distribution and economic structure. (Wayne Nafziger)

It is the process by which emerging economies become advanced


economies. In other words, the process by which countries with
low living standards become nations with high living standards.
Economic development also refers to the process by which the
overall health, well-being, and academic level the general
population improves. (market businessnews.com)
ECONOMIC DEVELOPMENT
It is "the process in which an economy grows or changes and
becomes more advanced, especially when both economic and
social conditions are improved." (The Cambridge Dictionary).
It is "the process by which a nation improves the economic,
political, and social well-being of its people." (Wikipedia)

Economic development is all about improving living standards.


'Improved living standards' refers to higher levels of
education and literacy, workers' income, health, and lifespans
EXAMPLES/INDICATORS
> Steady accumulation of physical and human capital
> Change in consumer demands
> Increased urbanization
> Constant power supply
> Improved transport and communication networks
> Shift from agriculture to industrial production
> Demographic transition
> Decline in family size
MAJOR GOAL OF POOR COUNTRIES

ECONOMIC ECONOMIC
GROWTH DEVELOPMENT
ECONOMIC ECONOMIC
GROWTH DEVELOPMENT

Economic growth can be defined as the Economic development is the growth of


increase or improvement in the the standard of living of a nation's
inflation-adjusted market value of the people from a low-income (poor)
goods and services produced by an economy to a high-income (rich)
economy in a financial year. Commonly economy.
measured by expansion of estimates of
When the local quality of life is
Gross Domestic Product (GDP).
improved, there is more economic
One-dimensional -> focuses only on development.
income
Multi-dimensional
Thanks!
THE END

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