UNIVERSITY OF PETROLEUM AND ENERGY STUDIES

DEHRADOON

MANAGERIAL ECONOMICS

NAME: ATTRI BORGOHAIN

ROLL NO. R310209006
MBA PSM SEM-I
ECONOMIC GROWTH AND DEVELOPMENT
i
n
t Developed countries
r
o
d Developing countries
u
c
t Under-developed
i countries
o
n
ECONOMIC GROWTH
An increase in a country's
ability to produce goods and
services

Expansion of a country’s
potential GDP (Gross Domestic
Product) or national output

When a nation’s production-

possibility frontier (PPF) shifts
outward
 4 WHEELS OF GROWTH

HUMAN RESOURCE

TECHNOLOGICAL CHANGE AND INNOVATION

CAPITAL FORMATION
NATURAL RESOURCES
 ECONOMIC DEVELOPMENT

SUSTAINED INCREASE IN THE ECONOMIC STANDARD OF LIVING

OF A COUNTRY'S POPULATION
 STANDARD OF LIVING

LEISURE

SAFETY

CULTURAL RESOURCES

SOCIAL LIFE

MENTAL HEALTH

AMARTYA SEN’S DEFINITION OF ECONOMIC DEVELOPMENT

GDP
TERRORISM
LIFE EXPECTANCY 2007
PERCENTAGE OF PEOPLE LIVING ON LESS THAN ONE DOLLAR PER DAY
ECONOMIC GROWTH VS. ECONOMIC DEVELOPMENT
ECONOMIC PHENOMENON MULTI-DIMENSIONAL

INCREASE IN PRODUCTION OR INCREASE OF SUCH PRODUCTION OR

CONSUMPTION OF A NATION OR A CONSUMPTION BY EACH PERSON
REGION

OBSTACLES TO ECONOMIC GROWTH AND DEVELOPMENT

FOREIGN DOMINATION SOCIAL STRUCTURE

MISUSE OF RESOURCES DUE TO MARKET SHORTAGE OF ENTREPRENEURIAL ABILITY

IMPERFECTIONS
SCARCITY OF SKILLED LABOUR
LOW RATE OF SAVING AND INVESTMENT INADEQUACY OF INFRASTRUCTURE

RAPIDLY GROWING POPULATION POLITICAL FACTOR

INEFFICIENT AGRARIAN SYSTEM ADVERSE INTERNATIONAL FACTORS

STRATEGY OF ECONOMIC DEVELOPMENT

BIG PUSH STRATEGY

Rodan and Henry Leibenstein

BALANCED VS. UNBALANCED

STRATEGY
H. W. Singer and A.O. Hirschman
Ragnar Nurske

BALANCED-UNBALANCED-BIG PUSH STRATEGY