Economic Development

Economic development focuses on how to improve the economies of developing countries. It measures the quantitative and qualitative changes in an economy. Economic development incorporates both private and public sectors because governments try to promote growth in private sectors and their investments. As a subject, economic development encompasses business, public administration, and sociology, along with economics.

Development economists see the improvement of healthcare, education, domestic and international policies, and market conditions as ways to create economic growth in poor countries. This branch of economics looks at microeconomic and macroeconomic factors when assessing the structure of the developing country and how its economy can create international and domestic growth. It strives to improve quality of life through economic processes.

A goal of development economists is to create a larger range of economic decisions and social choices for individuals and nations. By improving the economic conditions of a country, individuals have more freedom in their economic choices and are able to receive more life-sustaining goods like protection and food. Economic development is different from economic growth because economic growth is the increase of a measure of an economy, such as gross domestic product. Economic development encompasses the improvements of welfare, such as education and the environment. The main difference is that economic development looks at the progress of economic welfare overall, whereas economic growth only looks at particular variables. Economic growth is therefore a branch of economic development.

Gross domestic product (GDP), gross national product (GNP), and purchasing power parity (PPP) are some measures of economic development. There are some inconsistencies in these types of measurement because negative externalities of economic growth are not accounted for, such as environmental factors. Social indices, which as easily measured features of a country, are used to measure economic development. These types of social indices include life expectancy, infant mortality, and fertility rate.

Categories within Economic Development

Barriers to Growth

Postings: 135

Barriers to growth are the conditions or systems that stop a country from strengthening and growing its economy.

Economic Growth

Postings: 480

Economic growth is an economy's increase in the production of goods and services, as well as the increase in technological changes and advancements.

Employment

Postings: 323

Employment is when an individual, the employee, works for wage for an employer.

Foreign Relations

Postings: 11

Foreign relations are the relationships between the representations of foreign states or groups and one’s own state.

Supply and Demand

Postings: 734

Supply and demand reflects how price is determined in a market. Supply shows how much a market can offer and demand shows the quantity of a good or service that are desired by consumers.

Technology

Postings: 189

Technology is involved in the development of an economy because it can control how and how much of a good is produced.

Economics Concepts - Production and Cost

Write a 2 page paper, with a reference page that addresses the following: Explain the production function and discuss why it is important. Explain diminishing returns to an input and give an example. Discuss why a firm's cost curve might be different in the short-run versus the long-run. APA format Times Roman 12 Due on

Poverty, Cash and In-kind Transfer Programs

What is poverty? How does the United States define who is poor? What is the current poverty rate? What are cash transfer programs and in-kind transfers? What role has welfare played in poverty reform?

Thinking like an Economist

Please assist me with the following questions: 1. Could a nation's production possibilities curve shift outward? Explain what such a shift would mean, and discuss at least two events that might cause such a shift to occur. 2. By 1993, nations in the European Union (EU) had eliminated all barriers to the flow of goods, ser

The relationship between corruption and economic growth

Assess the empirical evidence on the relationship between corruption and economic growth. Could you illustrate with a case study of an Asian economy? How to do I start and what are the points that I can use for the body?

Decision Making in Oligopoly Markets

Burger King and McDonald's are situated on opposite corners of a downtown intersection. Burger King and McDonald's compete on the basis of the prices they set for their burger, fry, and soda combination meals. Every Monday, Burger King and McDonald's simultaneously choose their combo meal prices, which will remain in effect for

360-Degree Performance Evaluations

Many firms today use 360-degree performance evaluations. Make a case for this type of evaluation based on the informativeness principle. What problems may be encountered from implementation of such a system?

Apple Company

Actually Apple is how big, based on Market Capitalization and explain a) Top 10 companies in the world. b) Top 10 companies in the USA. c) Top 50 companies in the USA. d) Top 100 companies in the USA. AAPL is not the #1, who's the #1 company in the world (by mkt cap, not Revenue)? ALSO, in Economics

GINI Coefficient

Consider the following land distribution data for a developing country: Holding size % Holdings % Holdings Area CUMUL Less than 1 50 5 5 1-2 20 10 15 2-10 15 15

HDI calculations

Suppose a country has a life expectancy of 51.5, an adult literarcy rate of 62.6%, a combined gross enrollement ratio of 45%, and GDP per capita PPP of $853. 1. What is its Traditional Human Development Index (HDI)? 2. Calculate how much its life expectancy would have to rise to achieve "medium human development" status (that

Markets versus firms

What are the major differences between the architectures of markets versus firms?

Managerial Economics

Explain why auto manufacturers produce their own engines but purchase mirrors from independent suppliers.

Turnover

Please see the attached for details 1. Accounting receivable turnover 2. Inventory turnover 3. Fixed asset turnover 4. Total asset turnover

The Organization of the Firm

The WSJ recently reported that Juniper Networks plans to offer its more than 1000 workers the opportunity to reprice their stock options. The announcement comes at a time when their stock is down 90%, leaving many employees stock options worthless. How do you think Juniper's CEO justified repricing the employees stock options

MNC And It's Manager in The Host Country

What can a multinational corporation do to aid its managers in the development of a personal ethical value system that is in keeping with the legal and cultural values of their host countries?

Advice from Doctoral Candidates

So I'm wondering if any of you over-achievers have any advice for me. Specifically I'm wondering - what else can I be doing to make my resume' more attractive? I'm hoping to enter an Econ PhD program and eventually work at a social experimentation firm (probably). Do you know of any sort of certifications or something which I co

Coaching rather than managing people

3.Discuss how coaching rather than managing people can (a) enhance a leader's understanding of RQ and therefore provide a better understanding of their followers. Also, (b) how may RQ assist leaders in the developing employees and creating a more productive and satisfied work group and (c) identifying effective novel reward beh

General Electric and future teams

General Electric has frequently placed managers together to work on teams. Often the work assignment is only for a short period of time. General Electric makes sure that the quality of an employee's performance on a given assignment is recorded and shared with future teams. Why do you think that they do this?

U. S. Negotiated agreement

In 1981, the U.S. negotiated an agreement with the Japanese. The agreement called for Japanese auto firms to limit exports to the U.S. The Japanese government was charged with helping make sure the Japanese firms met the agreement. Were the Japanese firms necessarily hurt by this limited ability to export?

Privatizing services for public interest

Is the privatization of some services such as mass transit generally in the public interest (since publicly operated mass transit programs almost invariable operate at a loss)? Can I have a written reason as to why or why not?

Sports Stadiums

Do sports stadiums really create additional revenue or do they merely shift the available spending power among the competing sectors of the local economy?

RD&E Cycle

23. A dollar spent on activities that occur during the RD&E cycle: a. can save up to $80-$100 on manufacturing and post-manufacturing activities b. can save up to $8-$10 on manufacturing and post-manufacturing activities c. can save up to $20-$30 on manufacturing and post-manufacturing activities d. can save up to $30-$40

Calculating the GDP, NDP, GNP, NI etc from a data set

Consider the national income and output data listed: 1)Personal Consumption Expenditure= 1491 2)Transfer Payments 274 3)Depreciation -234 4)Retained earnings-112 5)Gross Fixed Investment-378 6)Fed. State Local Govts' Purchases-354 7)Changes in Bus.Inventories-26 8)Interest Paid To Institutions-176 9)Imports-