Economic Development
description
Transcript of Economic Development
![Page 1: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/1.jpg)
Economic Development
- Industrialization and Economic Development -
![Page 2: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/2.jpg)
Economics
Economics is the study of :
1. production of goods and services.
2. distribution of goods and services.
3. consumption (purchasing) of goods and services.
Economic Geographers study how people make a
living.
![Page 3: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/3.jpg)
Economic Globalization
Interdependence of national economies through movement of goods, service, technology and capital ($$$).
Much of the world's economic activity is now transnational.
How is the economic development of a country measured? See next slides …
![Page 4: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/4.jpg)
How is the economic development of a country measured? (1/4 )
Key Terms Per Capita Income: Per person income.
Gross National Product (GNP): Total production of goods and services by a country within a year.
Gross Domestic Product (GDP): Total production of goods and services within a country during in a year
![Page 5: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/5.jpg)
![Page 6: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/6.jpg)
Range of World GNP
World Average…………………….$4920 Developed Countries…………...$19,310 Developing Countries……………$1,120 Lowest GNP………….$80. Mozambique Highest GNP……..$41,210 Luxembourg
![Page 7: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/7.jpg)
Mozambique $80 USA
$26,980
Luxembourg $41,210
World Average $4920
Developing Average $1,120
Developed Average $19,310
![Page 8: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/8.jpg)
![Page 9: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/9.jpg)
How Is The Economic Development of a country Measured? (2/4)
Demographic (characteristics of a human population) Signs of Development
Developing Countries
– high birth rates (5%)– high infant mortality (150+)– high fertility (7.4)– high pop under 15 (50%)– low pop over 65 (1%)– short life expectancy (43 yrs.)
Developed Countries
– low birth rates (1%)– low infant mortality (.4%)– low fertility (1.1)– low pop under 15 (15%)– high pop over 65 (18%)– long life expectancy (80 yrs)
![Page 10: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/10.jpg)
Social Signs of Development
Use of consumer goods: phones, TV’s, computers Distribution of wealth & services
– health care availability number of physicians per capita
– education availability Literacy
Let’s look at the following slides …
How is the economic development of a country measured? (3/4)
![Page 11: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/11.jpg)
![Page 12: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/12.jpg)
![Page 13: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/13.jpg)
![Page 14: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/14.jpg)
How Is The Economic Development of a country Measured? (4/4)
Structure of the Economy
Economic activities are divided into categories of increasing complexity– Primary Sector– Secondary Sector– Tertiary Sector– Quaternary Sector
Primary
Secondary
Tertiary
Quaternary
![Page 15: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/15.jpg)
Economic Sectors: Structure of the Economy
Primary Industry: extraction of resources from the earth.– Generally, through agriculture, mining, fishing
and forestry.– EX:
farming, lumber, harvest.
![Page 16: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/16.jpg)
Economic SectorsStructure of the Economy
Secondary Industry - processing and manufacturing of resources
manufacturing
![Page 17: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/17.jpg)
Economic SectorsStructure of the Economy
Tertiary Industry - distribution of goods and services. Employs most people in the labor force in developed countries.
Ex: trucking, banking, retail store outlets, groceries
![Page 18: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/18.jpg)
Economic SectorsStructure of the Economy
Quaternary Industry - processing and dissemination of information
The “Information Economy”, services related to information and research.
education, research & development, cyber space
![Page 19: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/19.jpg)
Measures of Development
Consumer Goods (examples?)Fertility Rate
Infant Mortality Rate
![Page 20: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/20.jpg)
Fertility and Infant Mortality Rate
Developing countries have higher fertility rates than developed countries.
Developed countries have lower infant mortality rates than the developing countries.
![Page 21: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/21.jpg)
Economic Theories
Classical Liberalism
Neo-Liberalism
Dependency Theory
Globalization
![Page 22: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/22.jpg)
Classical Liberalism
An economic system functions best when there is no interference by government.
“Laissez-faire” (hands off, leave things alone!)
![Page 23: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/23.jpg)
Neo-Liberalism
– Private enterprise
– Liberalized trade
– Open markets
– Maximized role of private sector to determine political and economic priorities of the state.
![Page 24: Economic Development](https://reader035.fdocuments.in/reader035/viewer/2022062723/56813d65550346895da73f57/html5/thumbnails/24.jpg)
Dependency Theory
Resources flow from a poor and underdeveloped states to a "core" of wealthy states, enriching the latter at the expense of the former.
What about Globalization Theory???