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1. Compare developing countries & developed countries in terms of incomes, employment, and population growth
2. i. State & explain Lewis Two-Sector Theory/Model of Economic Development - its assumptions, its two sectors, and how economic development is achieved.
ii. What is the criticism of Lewis model?
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- 1.Why is economics central to an understanding of the problems of development? 2. Is the concept of the developing world a useful one? Why or why not?1. Why is a strictly economic definition of development inadequate? What do you understand economic?development to mean? Can you give hypothetical or real examples of situations in which a country may be developing economically but may still be underdeveloped?(a). Provide a definition of ‘technological capability’ and ‘social capability’ and describe the differences between them. Why can we say that innovation has a ‘systemic’ nature? (b). Financial development, social capital, favourable business regulation, trade openness are different aspects of ‘social capability’ influencing innovation processes and, therefore, economic development. Make a ranking of these factors according to their observed degree of importance for economic development. Explain why ‘inclusiveness’ and ‘equality in opportunities’ can strengthen the innovation capability of an economy. (c). Figure 1 below shows the cross-country correlation between the development of the education system and the level of economic development. Analyse Figure 1 by arguing about the importance of the education system for economic development in low, emerging, and developed countries. Please answer all the parts of this question.
- 1.Why is economics central to an understanding of the problems of development?1.Why is a strictly economic definition of development inadequate? What do you understand economic?development to mean? Can you give hypothetical or real examples of situations in which a country may be developing economically but may still be underdeveloped? 2. How does the concept of “capabilities to function” help us gain insight into development goals and achievements? Is money enough? Why or why not?1. What is the Philippine Development Program? 2. Which government agencies are participating in the program? 3. According to sources, there is an allotted budget that was borrowed from the world bank. How much is the total borrowed amount by the government and which government agency handled the project? 4. What are the sectors involved in the Development project?
- A. EXPLAIN BRIEFLY THE FOUR APPROACHES TO ECONOMIC DEVELOPMENT.B. WHICH OF THE DIFFERENT THEORIES OR APPROACHES THAT BEST DESCRIBETHE ECONOMIC SITUATION OF THE DEVELOPING NATIONS? EXPLAIN YOURANSWER.C. DISTINGUISH BETWEEN THE NEO-CLASSICAL, FREE-MARKET THEORY WITHDEPENDENCY THEORY?D. WHAT IS THE ROLE OF PUBLIC INVESTMENT AS A DEVELOPMENT STRATEGY?E. DISCUSS HOW THE “STAGES OF GROWTH FRAMEWORK EXPLAINS ECONOMICSTRUCTURAL CHANGE.2: One consistent pattern of economic development for most rich countries is that the share of their labor force in agriculture and the share of their GDP from agriculture steadily declined as their total GDP per capita increased. Developing countries today should infer from this pattern that: [Select one] They should try to reduce the number of workers in agriculture in order to grow their economy. They should favor and focus primarily on promoting non-agricultural sectors since they are the most important sectors in developed countries. Both a and b. None of the above.1. Which is not true regarding the role of human capitals in economic development? a. Supplies labor for industry sector b. Source of industrial human resource c. Gives a market for non-agricultural commodities d. None of the above 2. Among the given choices, which doesn’t correlate with the global poverty? a. technology b. population growth c. low defense budget d. gender inequality
- 4. Discuss whether state or market solutions to development problems are preferable by evaluating whether these statements are true or false. Use production function specifications (such as a Solow model with two types of capital) and graphs to prove your points. Give examples in African countries of good and bad policies and outcomes to illustrate your arguments in a through d.a. Markets get the desirable allocation right when all inputs to production are private goods and there is perfect competition.b. It is desirable that the government allow Free Trade rather than kill trade off with punitive taxes and controls.c. State intervention is needed when some inputs to production are public goods (give the definitions explaining how public goods differ from private goods).d. Whether market solutions are preferable to state intervention in a particular case depends on whether private payoffs and social payoffs are aligned.explain 1.Orthodox or conventional economists say that to address unequal growth between the rich and thepoor, the world economy needs to grow more. Do you agree with this idea? Why or why not? 2.What does the term “de-develop” mean? Is it a positive or a negative idea? 3. According to investopdia.com, a steady-state economy is an economy structured to balance growt hwith environmental integrity, seeking to find an equilibrium between production growth andpopulation growth. This type of economy aims for the efficient use of natural resources but alsoseeks a fair distribution of the wealth generated from the development of those resources. Is thistype of economy more plausible than continued, unlimited economic growth? Why or why not?1. Give ideas/examples can the international community (United Nations) take in improving affordable accessibility to technology for developing nations or communities? 2. Give ways/examples that the Member States of the United Nations can do to ensure that developing nations have the capability to transition through advancements in technology.