Development

economics
 Development
Economics
Branch of economics that focuses on improving fiscal,
economic, and social conditions in developing countries.

Areas that development economics focuses on include

health, education, working conditions, and market
conditions.

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Development economics seeks to understand and
shape macro and microeconomic policies in order to lift
poor countries out of poverty.

The application of development economics is complex

and varied as the cultural, social, and economic
frameworks of every nation is different.
 Development Economics
Development economics studies the
transformation of emerging nations into
more prosperous nations.
Strategies for transforming a developing
economy tend to be unique because the
social and political backgrounds of
countries can vary dramatically.
Not only that, but the cultural and
economic frameworks of every nation is
different also, such as women's rights and
child labor laws.
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Some aspects of development
economics include determining to
what extent rapid population
growth helps or hinders
development, the structural
transformation of economies, and
the role of education and 
healthcare in development.
Economic Development

- include international trade, 

globalization, sustainable
development, the effects of
epidemics, such as HIV, Covid
19 and the impact of
catastrophes on economic and
human development.

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 Types of Development Economics
1. Mercantilism is thought to be one of the earliest forms of
development economics that created practices to promote the success
of a nation.
2. It was a dominant economic theory practiced in Europe from the
16th to the 18th centuries. The theory promoted augmenting state
power by lowering exposure to rival national powers.
3. Like political absolutism and absolute monarchies, mercantilism
promoted government regulation by prohibiting colonies
from transacting with other nations.

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 Types of Development Economics
2. Economic Nationalism

Economic nationalism reflects policies that focus on domestic control

of capital formation, the economy, and labor, using tariffs or other
barriers. It restricts the movement of capital, goods, and labor.
Economic nationalists do not generally agree with the benefits of
globalization and unlimited free trade. They focus on a policy that is
isolationist so that the industries within a nation are able to grow
without the threat of competition from established companies in other
countries.

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 Types of Development Economics
3. The linear stages of growth model was used to revitalize the European
economy after World War II.
This model states that economic growth can only stem from industrialization.
The model also agrees that local institutions and social attitudes can restrict
growth if these factors influence people's savings rates and investments.

The linear stages of growth model portrays an appropriately designed addition

of capital partnered with public intervention. This injection of capital and
restrictions from the public sector leads to economic development and
industrialization.

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 Types of Development Economics
4. The structural-change theory focuses on changing the overall
economic structure of a nation, which aims to shift society from
being a primarily agrarian one to a primarily industrial one.

For example, Russia before the communist revolution was an

agrarian society. When the communists overthrew the royal
family and took power, they rapidly industrialized the nation,
allowing it to eventually become a superpower.

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Accordintg to Prof. Dudly Seers:

"Economic development will be possible if we see:

(i) What has been happening to poverty?

(ii) What has been happening to unemployment?
(iii) What has been happening to inequality?

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World Bank in its 1991 'World Development
Report’ 
"The challenge of development is to improve the quality of life.
Especially in the World's poorest countries a better quality of
life generally calls for higher incomes, but it involves much
more.
It encompasses as ends in themselves better education,
higher standards of health and nutrition, less poverty, a
cleaner environment, more equality of opportunity, greater
individual freedom, and a richer cultural life".

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Three Core Values/Components of

Development:

1. Sustenance

2. Self – Esteem

3. Freedom

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 Core Values of Development
Sustenance: Self-Esteem: Freedom from Servitude:
the ability to meet basic Sense of worth and self-respect Human freedom, the ability to
needs of people. and feeling of not being choose, is essential for the well
marginalized are extremely being of individuals.
important for individual’s well
Freedom involves an expanded
being.
All people have certain range of choices for societies:
basic needs without which Self-esteem may be based on economic and political.
material values: higher income
life would be impossible. or wealth may be equated with
It involves freedom from
bondage, serfdom, and other
higher worthiness. One may
exploitative economic, social,
consider individuals worthy
and political relationships.
based on their intellect or public
service.

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 OBJECTS OF DEVELOPMENT
1.Not only the availability 2.To improve the standards
of basic needs like food, of living in addition to
shelter, health and higher incomes, more jobs,
protection be made sure, better education and
but their distribution should greater attention to cultural
also be widened. and humanistic values be
given.
They will not only increase
material values, but they
will also generate individual
and national self-esteem.
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3. The economic and social
range available to the
people and nations should
expand.
They should be freed from
miseries, illiteracy,
servitude, dependence and
narrow mindedness etc.
not only in relation to other
people but also to other
nations.
 You can also split your content
White Black
Is the color of milk and Is the color of ebony and
fresh snow, the color of outer space. It has been
produced by the the symbolic color of
combination of all the elegance, solemnity and
colors of the visible authority.
spectrum.

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Thanks!

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