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Overview of Development Economics

Development economics uses analytical tools from various branches of economics to understand the progressive and dynamic process of development. Growth is the product of development, as measured by increases over time in the amount of goods and services produced in an economy. Two key measures of a nation's income and production are GDP, which measures the total value of production within a country, and GNP, which adds net income from abroad to GDP.

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21 views

Overview of Development Economics

Development economics uses analytical tools from various branches of economics to understand the progressive and dynamic process of development. Growth is the product of development, as measured by increases over time in the amount of goods and services produced in an economy. Two key measures of a nation's income and production are GDP, which measures the total value of production within a country, and GNP, which adds net income from abroad to GDP.

Uploaded by

giezele ballatan
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Overview of

Development
Economics
 How is development economics distinct from
other aspects of Economics?
- Development economists make use of
analytical tools and methods developed in
variety of other branches of economics such as
growth theory, macroeconomics,
microeconomics, labor, industrial organization,
international trade, and fiscal and monetary
policies.
Measuring Growth and Development
Development – is a progressive and
dynamic process.

Growth – is the result of a process.

Therefore, growth is the product of


development.
Using a measure of the amount of
goods and services produced in an
economy in a year, we can get some
idea about the standard of living in that
economy.

When the value of these goods


increases over time there is economic
growth.
GDP and GNP is used as a measure of
the nation’s income or production.
Gross Domestic Product (GDP) –the
total value of production in an
economy.
Gross National Product – GDP plus net
factor income from abroad.
 Asynchronous Activity:

1. Differentiate the three classifications (first,


second, third world countries) according to their:
A. Definition
B. Characteristics
C. Economy

2. Give at least 10 countries belong to each


classification.

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