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Diploma in Community Development: Economics Notes

Institution: College

Course: Diploma in Community Development

Content Category: Lecture Notes

Posted By: XELA AMUO

Document Type: PDF

Number of Pages: 195

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Summary

1. INTRODUCTION TO DEVELOPMENT ECONOMICS
What Is Development Economics?
Development economics is a branch of economics which deals with economic aspects of the
development process in low- and middle- income countries. Its focus is not only on methods of
promoting economic development, economic growth and structural change but also on
improving the potential for the mass of the population, for example, through health, education
and workplace conditions, whether through public or private channels.
Development economics is a branch of economics that focuses on improving fiscal,
economic, and social conditions in developing countries. Development economics considers
factors such as health, education, working conditions, domestic and international policies, and
market conditions with a focus on improving conditions in the world's poorest countries.
Development economics involves the creation of theories and methods that aid in the
determination of policies and practices and can be implemented at either the domestic or
international level.
This may involve restructuring market incentives or using mathematical methods such as
intertemporal optimization for project analysis, or it may involve a mixture of quantitative and
qualitative methods
Common topics include growth theory, poverty and inequality, human capital, and institutions.
Unlike in many other fields of economics, approaches in development economics may
incorporate social and political factors to devise particular plans.
The field also examines both macroeconomic and microeconomic factors relating to the
structure of developing economies and domestic and international economic growth.
......................


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