Lesson Title: Phases of Economic Development

Learning Target: The learners will be able to differentiate the phases of economic development
and its impact to business environment (DepEd-MELC, DICES)
Values/Graduate Attribute: The learners will become critical thinkers and responsible business
managers someday.
References: Ng, M.F.G. (2019). Organization & Management.

Concept Notes:
FIVE BASIC STAGES OF ECONOMIC DEVELOPMENT
By: Walt Whitman Rostow

1) In this stage, economic

5) In this stage, most parts system is stationary; low
of society live in prosperity; economic and social
there is a widespread of mobility and changes are
consumption of high-value
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1 seen negatively.
consumer goods.

5 2
2) There is an
external demand for
raw materials;
individual mobility
begins, and national
4) Economic progress
identity and shared
and technical progress,
economic interest
multiple industries
are now developed.
expand and new
industries take root.

4 3
3) This stage is characterized by dynamic growth, self-
sustained environment, urbanization increases,
industrialization proceeds and technological breakthroughs
occur.
Exercise

Directions: Answer the given question in two to three concise sentences.

What do you think is the importance of having different phases or stages of economic
development?
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