ECONDEV REVIEWER: ● Modernization of

MODULE 1: ECONOMIC Institutions

DEVELOPMENT ● Political and
Population - It is the Economical
big factor of the Participation
economy. ● Democracy

Nature of Development
Economies as Social
Economics:
System:
- Traditional Economics
● Social System -
- Political Economics
Structure of Society
- Development Economics
o More Developed ● Values
countries (MDC’S)
● Attitudes
o Less Developed
● Power structure
countries
and
Importance Roles of ● Tradition
Values in Development
Economics: What do we mean by
● Mahatma Gandhi - Development?
Realization of Human ● Traditional Economic
Potential Measures

● Social Equality ● Income Per

● Elimination of Capita
Poverty ● Gross National
● Universal Education Income (GNI)
● Rising level of
living
● National
Independence
 Development and goods
Happiness:
● To raise the level of
living

● Expand the range of

economic and social
choices

Future of Millennium
Seven factors of Development Goals:
Happiness:
1.Family Relationship
2.Financial Situation
3.Work
4.Community and
friends
5.Health
6.Personal Freedom
7.Personal Values

Three Core Values of

Development:
1.Sustenance
2.Self-esteem
3.Freedom

Three objectives of
Development:
● Increase the
availability and
widen the
distribution of
basic-life sustaining