1. Why do think the study of economics is so central to an understanding of the problems of devel... more 1. Why do think the study of economics is so central to an understanding of the problems of development? Give some examples of its role and usefulness. There are as many definitions of development as there are scholars that have written on the subject of development. Some scholars have defined development as a state or condition static; development as a process or course of change dynamic. According to Todaro (2003) et.al development has traditionally meant achieving sustained rates of growth of income per capita to enable a nation to expand its output at a rate faster than the growth rate of its population. The term development may mean different things to different people. Without such a perspective and some agreed measurement criteria, we would be unable to determine which country was actually developing and which was not. Economic development in the past has also been typically seen in terms of the planned alteration of the structure of production and employment so that agriculture's share of both declines and that of the manufacturing and service industries increases. Development strategies have therefore usually focused on rapid industrialization, often at the expense of agriculture and rural development. Todaro (2003) et.al goes on to state that development is not purely an economic phenomenon but rather a multi-dimensional process involving reorganisation and reorientation of entire economic and social system. Development is the process of improving the quality of all human lives with three quality aspects identified as rising of living standards, creating conducive conditions to grow peoples' self-esteem through the establishment of social, political and economic systems and institutions which promote human dignity and respect. The third aspect is that of increasing the peoples' freedom to choice by enlarging the range of their choice variable of goods and services. For one to fully comprehend the intricate problems of development, a thorough knowledge of economics as a subject becomes relevant so as to be able to interpret and analyse the various changes that should take place before a country is said to be developing as well as being able to understand various interpretations of development through the many theories on development like the Marxist view of development, the neoclassical dependence models of development, the classical theory of economic stagnation, Rostow's stages of economic growth, the vicious circle theory, balanced versus unbalanced growth, the O-ring theory of economic development, the Lewis-Fei-Ranis model, the new (endogenous) growth theory,
Question One a. Briefly discuss the following terms giving suitable examples; i. Climate change i... more Question One a. Briefly discuss the following terms giving suitable examples; i. Climate change ii. Climate change adaptation iii. Climate change mitigation iv. Greenhouse gases v.
1. Why do think the study of economics is so central to an understanding of the problems of devel... more 1. Why do think the study of economics is so central to an understanding of the problems of development? Give some examples of its role and usefulness. There are as many definitions of development as there are scholars that have written on the subject of development. Some scholars have defined development as a state or condition static; development as a process or course of change dynamic. According to Todaro (2003) et.al development has traditionally meant achieving sustained rates of growth of income per capita to enable a nation to expand its output at a rate faster than the growth rate of its population. The term development may mean different things to different people. Without such a perspective and some agreed measurement criteria, we would be unable to determine which country was actually developing and which was not. Economic development in the past has also been typically seen in terms of the planned alteration of the structure of production and employment so that agriculture's share of both declines and that of the manufacturing and service industries increases. Development strategies have therefore usually focused on rapid industrialization, often at the expense of agriculture and rural development. Todaro (2003) et.al goes on to state that development is not purely an economic phenomenon but rather a multi-dimensional process involving reorganisation and reorientation of entire economic and social system. Development is the process of improving the quality of all human lives with three quality aspects identified as rising of living standards, creating conducive conditions to grow peoples' self-esteem through the establishment of social, political and economic systems and institutions which promote human dignity and respect. The third aspect is that of increasing the peoples' freedom to choice by enlarging the range of their choice variable of goods and services. For one to fully comprehend the intricate problems of development, a thorough knowledge of economics as a subject becomes relevant so as to be able to interpret and analyse the various changes that should take place before a country is said to be developing as well as being able to understand various interpretations of development through the many theories on development like the Marxist view of development, the neoclassical dependence models of development, the classical theory of economic stagnation, Rostow's stages of economic growth, the vicious circle theory, balanced versus unbalanced growth, the O-ring theory of economic development, the Lewis-Fei-Ranis model, the new (endogenous) growth theory,
Question One a. Briefly discuss the following terms giving suitable examples; i. Climate change i... more Question One a. Briefly discuss the following terms giving suitable examples; i. Climate change ii. Climate change adaptation iii. Climate change mitigation iv. Greenhouse gases v.
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