DEVELOPMENT ECONOMICS

Submitted to: Prof Cherrie Nuez

Name: Padora, Micahella T.

Student No: 202103246
Class /Section: ECO 4112-2
HW No. 2
Date Due October 1, 2023
Date Submitted September 28, 2023
Word count: __319_ out of max 350 words

Write your essay here. Use Arial 12 font. Single space. Justify. Max of 350 words

A Higher Quality of Life for All Filipinos

Every country has its own set of objectives. It could be to improve labor force participation,
achieve zero poverty, establish gender equality, have a good education, and so on. What,
however, should be the Philippines' top priority among the 17 Sustainable Development Goals?

David Ricardo is a notable classical economist who proposed the notion of comparative
advantage. He asserted that countries might achieve an international trade advantage by focusing
on manufacturing items with the lowest opportunity costs in comparison to other countries.
Globalization is influenced by comparative advantage, as less-developed countries can gain from
globalization by leveraging their comparative advantage in labor costs.

From history to the present, globalization has been critical to economic development. As a result,
the Philippines must prioritize global partnership. The Philippines, like many other countries, is
confronted with a slew of complicated issues that transcend beyond its borders. Climate change,
pandemics, and economic volatility are all global issues. By actively participating in global
alliances, the Philippines can get access to foreign resources, experience, and finance to solve
these difficulties more effectively. Global collaboration can assist the country create resilience to
external shocks and ensure its long-term survival. The global partnership enables each country to
globalize with one another in order to contribute to environmental preservation and sustainable
development by mobilizing resources, sharing knowledge, encouraging the development and
transfer of environmentally sound technology, and creating capacity.

To summarize, global collaboration in the achievement of the Sustainable Development Goals is

both a requirement and an opportunity for the Philippines. By prioritizing international
collaboration, the Philippines can gain access to critical resources, knowledge, and support to
tackle domestic difficulties, promote sustainable development, and assure a brighter future for its
population. In an increasingly linked world, a commitment to global alliances is a pathway to
attaining the nation's development goals and ensuring a higher quality of life for all Filipinos.
DEVELOPMENT ECONOMICS
Submitted to: Prof Cherrie Nuez

Sources/ Reference Materials

Environment, U. N. (2017, October 2). GOAL 17: Partnerships for the goals. UNEP - UN
Environment Programme. https://www.unep.org/explore-topics/sustainable-development-
goals/why-do-sustainable-development-goals-matter/goal-17

‌Perkins, D. H., Lindauer, D. L., & Radelet, S. C. (2013). Economics of Development. W.W.
Norton Et Company.

RASURE, E. (2019). How Does Globalization Impact Comparative Advantage? Investopedia.

https://www.investopedia.com/ask/answers/030215/how-does-globalization-impact-comparative-
advantage.asp

Who Was David Ricardo? (n.d.). Investopedia. https://www.investopedia.com/terms/d/david-

ricardo.asp#:~:text=Ricardo's widely acclaimed comparative advantage

DO NOT REMOVE THIS PART!

Teacher assessment
Criterion Score Teacher Grade Teacher
Comments
TERMINOLOGY 3
The student uses
appropriate economic
terminologies
APPLICATION 5
The student
recognises or
understands and
applies appropriate
economic information
in the context of the
topic being studied/
question being asked.
EVALUATION 10
The student
synthesises her or his
analysis in order to
make judgements that
are supported by
reasoned arguments.
FORMAT & 2
DEVELOPMENT ECONOMICS
Submitted to: Prof Cherrie Nuez

SOURCES
-word count
- crediting sources
using APA format
TOTAL 20

Raw Mark Value/ Rating

20 -19 5 /Outstanding
15-18 4 / Good
10-14 3/ Satisfactory
5-9 2 / Poor
1-4 1 /Dreadful
No submission 0