UTBO, RIZA

GARCIA, RHEANNA ROSE

JARIOL, JENNY

BSA1D - B415

“ Our Learning Insights on Introduction to Economic Growth and Development”

Economic growth and development are important concepts that focus on the progress
and improvement of an economy over time. Economic growth refers to an increase in
the production and consumption of goods and services in an economy. It is often
measured by the growth of Gross Domestic Product (GDP). On the other hand,
economic development encompasses a broader perspective, including improvements in
living standards, reduction of poverty, and the overall well-being of individuals.

Our learning insights on economic growth and development highlight the significance of
investment in physical and human capital, technological advancements, and sound
economic policies. We understand that sustained economic growth requires a favorable
business environment, infrastructure development, and access to education and
healthcare. Additionally, we recognize the importance of promoting inclusive growth,
reducing income inequality, and addressing social and environmental challenges for
sustainable development.

By studying economic growth and development, we have gained an understanding of

the complex interplay between economic factors, social dynamics, and policy choices.
We recognize the potential of economic growth to improve the lives of individuals and
communities, and the need for balanced and equitable development to ensure
long-term prosperity.