ECO. 361 Online Discussion/Quiz–12-12-2022 (Understanding the meaning of Development)

Metu Sandra Chiamaka
2017/249526
Eco major
1.Many economists were aware of Dudley Seer’s theory of development before it was released.
According to this theory, development occurs when a nation’s Gross Domestic Product (GDP) grows at a rate of 5% to 7% above average and the increases are maintained over an extended period of time.
They thought that a country had reached development when such increases took place.
For them, growth was mostly based on material expansion. Additionally, the notion that economic development is attained when there is a shift in the composition of production and employment such that manufacturing and services account for an increasing share of GDP and employment, while agriculture declines. According to Todaro and Smith (2006), these ideas led development economists to place a greater emphasis on industrialization at the expense of agriculture. According to the theory, although many developing nations saw an increase in their GDP in the 1960s and 1970s, the average standard of living for the vast majority of people stayed the same.
That is, improvements in growth (GDP) have no direct impact on people’s quality of life.
These caused numerous economists to think twice about what progress

2. Apart from a rise in output, Economic Development involves changes in composition of output, shift in the allocation of productive resources, and elimination or reduction of poverty, inequalities and unemployment. Clearly discuss the above assertion.
Economic growth is the most powerful instrument for reducing poverty and improving the quality of life in developing countries. Both cross-country research and country case studies provide overwhelming evidence that rapid and sustained growth is critical to making faster progress towards the Millennium Development Goals – and not just the first goal of halving the global proportion of people living on less than $1 a day.
Growth can generate virtuous circles of prosperity and opportunity. Strong growth and employment opportunities improve incentives for parents to invest in their children’s education by sending them to school. This may lead to the emergence of a strong and
growing group of entrepreneurs, which should generate pressure for improved governance. Strong economic growth therefore advances human development, which,
in turn, promotes economic growth.
But under different conditions, similar rates of growth can have very different effects on poverty, the employment prospects of the poor and broader indicators of human development. The extent to which growth reduces poverty depends on the degree to which the poor participate in the growth process and share in its proceeds. Thus, both the pace and pattern of growth matter for reducing poverty.
A successful strategy of poverty reduction must have at its core measures to promote rapid and sustained economic growth. The challenge for policy is to combine growthpromoting policies with policies that allow the poor to participate fully in the opportunities unleashed and so contribute to that growth. This includes policies to make labour markets work better, remove gender inequalities and increase financial inclusion.
Asian countries are increasingly tackling this agenda of ‘inclusive growth’. India’s most recent development plan has two main objectives: raising economic growth and making growth more inclusive, policy mirrored elsewhere in South Asia and Africa.

3. In the words of Amartya Sen “Development requires the removal of major sources of unfreedom, poverty as well as tyranny, poor economic opportunities as well as systematic social deprivation neglect of public facilities as well as intolerance or over activity of repressive states.
Yes,
Development means freedom, according to Amartya Sen, perhaps the greatest development thinker of our times.
Over the centuries, there have been very many theories of development. According to 1998 Nobel prize winner, Amartya Sen, freedom is both the primary objective of development, and the principal means of development. The human being is an engine of change.
Sen is both the first Indian and the first Asian to win the Nobel prize for economics. In winning the Nobel prize, Sen was praised by the Swedish Royal Academy of Sciences “for his contributions to welfare economics” and for restoring “an ethical dimension” to the discussion of vital economic problems.

According to Sen, development is enhanced by democracy and the protection of human rights. Such rights, especially freedom of the press, speech, assembly, and so forth increase the likelihood of honest, clean, good government.
He claims that “no famine has ever taken place in the history of the world in a functioning democracy”. This is because democratic governments “have to win elections and face public criticism, and have strong incentive to undertake measures to avert famines and other catastrophes”.

4. Critically discuss the Central Role of Women in the National Development
Women are the set of human beings that belongs to the female gender. They play the role of mothers, caretakers in family affairs, farmers, educators, entrepreneurs, teachers, e.t.c. It is historic that women play significant roles in societal development and ensure the stability, progress, and long-term development of nations. Women also play the role of decision-makers in homes. Globally, women contribute immensely to agricultural development, comprising about 43% of the world’s agricultural labor force. In some countries, the number of women involved in the agricultural labor force increases to over 70%. Available records indicate that in Africa alone, 80% of agricultural production comes from small farmers, most of whom are rural women. It is noteworthy that agriculture is the bedrock of national development as the best approach to food security, poverty reduction, job creation, and economic stability.

5. Clearly discuss some Important “Beings” and “Doings” in Capability to Function
Sen contends that a person’s ability to do and be things determines how happy they are.
He therefore concentrated on a more direct topic, such as the capacities and human functionings by which the quality of life is measured. In other words, a person’s talents provide a perspective from which his benefits and drawbacks may be fairly evaluated, which makes it extremely ideal for studying poverty.
Functionings: Functionings are the true “doings and beings” of individuals. They are human accomplishments; they are “doings” or “beings.” All of these accomplishments—doings and beings—add value to life when considered collectively. The functions could be having access to food and housing, being able to work and rest, being literate or healthy, belonging to a community or group, being respected, etc.

6. Discuss the three Core Values of Development with relevant example:
i. Sustenance:
A subsistence economy is an economy directed to basic subsistence (the provision of food, clothing, shelter) rather than to the market. Henceforth, “subsistence” is understood as supporting oneself at a minimum level. The life-sustaining basic human needs include food, shelter, health and protection. When any one of these is absent or in critically short supply, a condition of absolute “underdevelopment” exists.

ii. Self-esteem – To be a person: Confidence in one’s own worth or abilities; self-respect. “assertiveness training for those with low self-esteem” . A second universal component of good life is self- esteem- a sense of worth and self-respect- of not being used as a tool by others for their own ends. Due to the significance attached to material values in developed nations, worthiness and esteem are now-a-days increasingly conferred only on countries that possess economic wealth and technological power- those that have developed
III. Freedom from servitude, to be able to Choose: Arthur Lewis stressed the relationship between economic growth and freedom from servitude when he concluded that “the advantage of economic growth is not that wealth increases happiness, but that it increases the range of human choice.” Wealth can enable a person to gain greater control over nature and his physical environment than they would have if they ppremained poor.
It also gives them the freedom to choose greater leisure. The concept of human freedom should encompass various components of political freedom, freedom of expression, political participation and equality of opportunity.

7. Some scholars have argued that happiness has a direct correlation with
more income while others disagree with the assertion.
“Happiness improves with income, to a degree,” is how I would sum it up.
One of the most well-known conclusions from the economic study of happiness is that while overall pleasure rises with income, diminishing returns begin to take effect after a certain point.
In other words, after a certain point, wealth and further income have little impact on one’s degree of happiness.
After this, happiness presumably depends on other factors, such as health, free time, the caliber of friendships, and close family, rather than only income generating.
Obi cubana, the man in Nigeria, is just one example. Although having money helps build up one’s life, family and friends are also a major source of happiness for obi cubana today.

8)Distinguish between Economic Growth and Economic Development and tell us where we are currently as a nation in terms of growth and
development.
Economic Growth and Economic Development.
1) Economic growth is the improvement in economic indices.
Economic development is the transformation in an economy on both a quantitative and qualitative level.
2) The increase in the volume of products and services produced by an economy is referred to as economic growth.
In the context of an expanding economy, economic development refers to the reduction and abolition of poverty, unemployment, and inequality.
3) Increases in real national income and national output are indicative of economic growth.
Improvements in life expectancy, health care, and other aspects of living standards are examples of economic progress.
4) Economic growth is one-dimensional in nature because it only concentrates on people’s income.
Due to its dual focus on increasing income and enhancing peoples’ quality of living, economic growth is multidimensional in nature.

Nigeria as a nation is still experiencing economic growth and not development because the necessary conditions for growth have not yet been established. Additionally, the nation continues to struggle with economic instability, inflation and deflation, and political unrest.

Omeje Sharon Amarachi
2019/244241
Eco/pol (css)
Answers
(1) The development could be seen as involving the provision of basic needs of the people, which is the target population as a subject rather than an object. It lays more emphasis on human potentialities, creativity, energy and the involvement of people and government with individuals, and group of communities leading to increase capacity to control or make decisions on issues and problems that affect the less developed countries.
As discussed by Dudley Seers the purpose of development is to reduce poverty, inequality, and unemployment. To Seers, development involves reducing deprivation or broadening choice. It represents a multidimensional view of poverty that includes, hunger, illiteracy, illness and poor health, powerlessness, voicelessness, insecurity, humiliation and lack of access to basic infrastructures
(2). Apart from a rise in output, Economic Development is a process that creates growth, progress, positive change or the addition of physical, economic, environmental, social and demographic components. The purpose of development is a rise in the level and quality of life of the population, and the creation or expansion of local regional income and employment opportunities, without damaging the resources of the environment. Development is visible and useful, not necessarily immediately, and includes an aspect of quality change and the creation of conditions for a continuation of that change.
(3).l agree with Amartya sen.
Freedom implies not just to do something, but the capabilities to make it happen. What people can achieve (their capabilities) is influenced by “economic opportunities, political liberties, social powers, and the enabling condition of good health, basic education, and the encouragement and cultivation of initiatives.
(4). The capability approach is a theoretical framework that entails two normative claims: first, the claim that the freedom to achieve well-being is of primary moral importance and, second, that well-being should be understood in terms of people’s capabilities and functionings. Capabilities are the doings and beings that people can achieve if they so choose — their opportunity to do or be such things as being well-nourished, getting married, being educated, and travelling; functionings are capabilities that have been realized. Whether someone can convert a set of means – resources and public goods – into a functioning (i.e., whether she has a particular capability) crucially depends on certain personal, sociopolitical, and environmental conditions, which, in the capability literature, are called ‘conversion factors.’ Capabilities have also been referred to as real or substantive freedoms as they denote the freedoms that have been cleared of any potential obstacles, in contrast to mere formal rights and freedoms.
Within philosophy, the capability approach has been employed to the development of several conceptual and normative theories within, most prominently, development ethics, political philosophy, public health ethics, environmental ethics and climate justice, and philosophy of education. This proliferation of capability literature has led to questions concerning what kind of framework it is (section 1); how its core concepts should be defined (section 2); how it can be further specified for particular purposes (section 3); what is needed to develop the capability approach into an account of social justice (section 4); how it relates to non-Western philosophies (section 5); and how it can be and has been applied in practice (section 6).

(5).Enhancing women ‘ s participation in development is essential not only for achieving social justice but also for reducing poverty. Worldwide experience shows clearly that supporting a stronger role for women contributes to economic growth, it improves child survival and overall family health, and it reduces fertility, thus helping to slow population growth rates. In short, investing in women is central to sustainable development. And yet, despite these known returns, women still face many barriers in contributing to and benefiting from development. The barriers begin with comparatively low investment in female education and health, they continue with restricted access to services and assets, and they are made worse by legal and regulatory constraints on women ‘ s opportunities. As a result, the worlwide progress in development over the last three decades has not translated into proportional gains for women. This paper points to actions that can help to turn around this inequitable situation. Evidence of what works is particularly strong in five areas: education, health, wage labor, agriculture and natural resource management, and financial services. The paper also suggests a broadening of the women in development approach toward a gender in development strategy that takes into account the relative roles and responsibilities of women and men and recognizes that, of effect long-term change in the conditions of women, the actions and attitudes of men must change.
(6)(i) Life Sustenance, i.e., Ability to Meet Basic Needs:
It is also known as “the ability to meet basic needs”. All the persons have certain basic needs which are necessary for the survival. They consist of food, shelter, health and protection. If any one of them is missing or in short supply in any economy it would represent the state of under-development. Therefore, the purpose of economic development and economic activity is to make the possible efforts whereby the helplessness and misery of the people which arises due to lack of food, shelter, health and protection could be removed.
Self-Esteem, i.e., to be a Person:
A second universal component of the good life is a self-esteem, a sense of worth and self-respect. It means that the other people could not use him for their own ends. It also means that each person should be given his due respect and due right. Each person is desirous of his prestige, identity and recognition, though all f such values differ from country to country and from society to society. It is being observed now a days that when the process of economic development starts in a country the inequalities in the distribution of income increase. Because of such inequality the rich class considers itself superior to the poor. In this way, the poor segment of the society suffers from inferiority complex which leads to affect their efficiency.
Freedom from Servitude, i.e., to be Able to Choose:
The third universal value required for economic development is concerned with human freedom. By freedom it means the emancipation from alienating material conditions of life and from social servitude to nature, ignorance, other people, misery, institutions and dogmatic beliefs. As Arthur Lewis says:
“Advantage of economic growth is not that wealth increases happiness, but that it increases the range of human choice”.
(7).In order to adequately address this question, it is necessary to differentiate between ‘ideal’ happiness and ‘actual’ happiness.
‘Ideal’ happiness implies a way of being that is complete, lasting and altogether perfect… probably outside of anyone’s reach! (Kesebir & Diener, 2008). However, despite this, people can actually experience mostly positive emotions and report overall satisfaction with their lives and therefore be deemed ‘happy’.
In fact, most people are happy. In a study conducted by the Pew Research Center in the US (2006), 84% of Americans see themselves as either “very happy” or “pretty happy” (Kesebir & Diener, 2008).
Happiness also has an adaptive function. How is happiness adaptive? Well, positivity and wellbeing are also associated with people being confident enough to explore their environments and approach new goals, which increases the likelihood of them collecting resources.
The fact that most people report being happy, and happiness having an adaptive function, leads Kesebir and Diener (2008) to conclude that yes people can, in fact, be happy.
(8).Economic Growth:
Economic Growth is the positive change in the indicators of economy.
Economic Growth refers to the increment in amount of goods and services produced by an economy.
Economic growth means an increase in real national income / national output.
It refers to an increase over time in a country’s real output of goods and services (GNP) or real output per capita income.
Economic growth is single dimensional in nature as it only focuses on income of the people.
Earlier, economic growth was only measured in terms of Gross Domestic Product (GDP).
At present, it is measured in terms of GDP, Gross National Income (GNI) and Per Capita Income.
Economic Growth is the precursor and prerequisite for economic development.
Indicators of economic growth are GDP, GNI and per capita income.
Economic growth relates a gradual increase in one of the components of GDP; consumption, government spending, investment or net exports.
It is also considered as a traditional measure of development which indicates the quantitative rise of economy.
Economic growth only looks at the quantitative aspect. It brings quantitative changes in the economy.
Economic growth is concerned with increase in economy’s output.
It focuses on production of goods and services.
Economic growth is more relevant metric for assessing progress in developed countries.
Economic growth is relatively narrow concept as compared to economic development.
It is for short term/short period.
It is a material/physical concept.
Economic growth is measured in certain time frame/period.
Economic Development:
Economic development is the quantitative and qualitative change in an economy.
Economic development refers to the reduction and elimination of poverty, unemployment and inequality with the context of growing economy.
Economic development means an improvement in the quality of life and living standards, e.g. measures of literacy, life-expectancy and health care.
Economic development includes process and policies by which a country improves the social, economic and political well-being of its people.
Economic development is multi-dimensional in nature as it focuses on both income and improvement of living standards of the people.
Economic development is concerned with the happiness of public life.
Economic development comes after economic growth. It is a positive impact of economic growth.
Economic development also refers to:
provision of sufficient and effective physical and social infrastructures
equal access to resources
participation of all in economic activities
equitable distribution of dividends of economy.
Economic development= Economic growth + standard of living
It refers to increase in productivity.
Indicators of economic development are:
Human Development Index (HDI)
Human Poverty Index (HPI)
Gini Coefficient
Gender Development Index (GDI)
Balance of trade
Physical Quality of Life Index (PQLI)
Economic development is the ends of development.
Achieving economic development is linked with end of poverty and inequality.
It is more abstract concept.
Economic development focuses on distribution of resources.
Nigeria current status in terms of growth and development;
While Nigeria has made some progress in socio-economic terms in recent years, its human capital development ranked 150 of 157 countries in the World Bank’s 2020 Human Capital Index. The country continues to face massive developmental challenges, including the need to reduce the dependency on oil and diversify the economy, address insufficient infrastructure, build strong and effective institutions, as well as address governance issues and public financial management systems.
Inequality, in terms of income and opportunities, remains high and has adversely affected poverty reduction. The lack of job opportunities is at the core of the high poverty levels, regional inequality, and social and political unrest. High inflation has also taken a toll on household’s welfare and high prices in 2020-2022 are likely to have pushed an additional 8 million Nigerians into poverty. So in all Nigeria is still battling with Economic growth.

Name : Okechi Paschal makuo
Dept: Library and information science
Reg no:2019/247596
1:Professor Dudley Seers’ argument is that development is about outcomes, specifically the reduction and elimination of poverty, inequality, and unemployment within a growing economy. This argument suggests that development is not just about economic growth, but also about improving people’s lives by addressing social and economic challenges.

Reducing poverty is essential for development as it allows individuals to access basic needs such as food, shelter, education, and healthcare. When people are lifted out of poverty, they are more likely to participate in economic and social activities, which can lead to further economic growth.

Inequalities, such as income and wealth disparities, can create social tensions and limit opportunities for some individuals and groups. Addressing inequality can help to ensure that everyone has access to education, healthcare, and other opportunities, regardless of their background or economic status. This can also contribute to economic growth by increasing productivity and innovation.

Unemployment can also be a significant obstacle to development, as it can limit individuals’ ability to access opportunities and contribute to economic growth. Addressing unemployment can involve investing in education and training programs, creating job opportunities, and supporting entrepreneurship.

However, it is worth noting that development is a complex and multidimensional concept that encompasses more than just poverty, inequality, and unemployment. Other factors, such as environmental sustainability, governance, and human rights, also play a crucial role in development.

Overall, Professor Dudley Seers’ argument highlights the importance of focusing on outcomes that improve people’s lives and promote sustainable economic growth. By addressing poverty, inequality, and unemployment, policymakers and stakeholders can work towards a more equitable and prosperous future for all.
2: Economic development is a process that involves the improvement of the economic well-being of a society. It is a multifaceted process that goes beyond the mere increase in output. In addition to the rise in output, as you mentioned, economic development involves changes in the composition of output, a shift in the allocation of productive resources, and the elimination or reduction of poverty, inequalities, and unemployment.

One of the key components of economic development is the change in the composition of output. This means that the economy shifts from producing low-value-added products to high-value-added products. This shift can be achieved through the adoption of new technologies, the development of new industries, and the improvement of existing industries. The shift towards producing higher value-added products is important because it results in the creation of higher-paying jobs, and increased productivity and competitiveness.

Another important component of economic development is the reallocation of productive resources. This involves the movement of resources from less productive to more productive sectors of the economy. For example, resources may be shifted from agriculture to manufacturing or from low-tech to high-tech industries. The reallocation of resources is important because it leads to higher productivity and greater efficiency.

The elimination or reduction of poverty, inequalities, and unemployment is also a critical component of economic development. Economic development should result in the creation of jobs and the improvement of living standards for all members of society. This can be achieved through the creation of a conducive business environment, the development of infrastructure, and the provision of education and training.

In conclusion, economic development is a complex process that involves more than just an increase in output. It involves changes in the composition of output, a shift in the allocation of productive resources, and the elimination or reduction of poverty, inequalities, and unemployment. These components are interrelated and must be addressed in a coordinated manner in order to achieve sustained economic growth and development.
3:
As an AI language model, I don’t have personal beliefs or opinions, but I can provide an analysis of the statement made by Amartya Sen.

In his statement, Amartya Sen argues that development requires the removal of major sources of unfreedom, which includes both poverty and tyranny. Poverty refers to the lack of basic necessities needed for survival such as food, shelter, and healthcare, while tyranny refers to the abuse of power by those in authority, which can lead to the suppression of individual freedoms.

Sen also points out that development requires the removal of other sources of unfreedom, such as poor economic opportunities and systematic social deprivation. Poor economic opportunities can lead to a lack of employment opportunities, which can result in persistent poverty. Systematic social deprivation refers to the exclusion of certain groups from accessing social and economic opportunities, which can lead to significant disparities in society.

Furthermore, Sen argues that development requires addressing the neglect of public facilities as well as intolerance or overactivity of repressive states. Neglect of public facilities, such as inadequate healthcare, education, and infrastructure, can limit opportunities for people to improve their lives. Intolerance or overactivity of repressive states can lead to the violation of human rights and the suppression of freedom of expression, which can hinder development.

In his statement, Sen emphasizes the importance of addressing a wide range of issues that contribute to unfreedom in order to achieve development. He recognizes that development is a complex process that requires the removal of multiple sources of unfreedom, including poverty, tyranny, poor economic opportunities, systematic social deprivation, neglect of public facilities, and intolerance or overactivity of repressive states.

In conclusion, Amartya Sen’s statement highlights the need to address the root causes of unfreedom in order to achieve development. By removing these sources of unfreedom, individuals can have greater access to economic and social opportunities, which can lead to improved living standards and greater individual freedoms.
4. Central Role of Women in National Development:
The central role of women in national development cannot be overemphasized. Women make up half of the population and are responsible for raising the other half. They are major players in the development of any society, as they are involved in various roles such as caregivers, producers, and consumers. Women’s contributions to national development can be seen in areas such as education, health, agriculture, and entrepreneurship. When women are empowered, they can contribute to the economic growth of a nation, and their families and communities benefit from their increased income and improved standard of living. However, women’s empowerment is still a challenge in many parts of the world, where gender inequality persists.

5. Beings and Doings in Capability to Function:
The capability to function refers to an individual’s ability to achieve their goals and live a fulfilling life. Beings refer to the individual’s physical and mental capabilities, while doings refer to the actual activities they engage in. For example, an individual’s being may include their intelligence, physical health, and emotional well-being, while their doings may include their education, employment, and participation in social activities. Both beings and doings are important in the capability to function, as individuals need both the physical and mental capacity to engage in activities that lead to a fulfilling life.

6. Core Values of Development:
The three core values of development are equity, sustainability, and human rights. Equity refers to the fair distribution of resources and opportunities, regardless of factors such as gender, race, or economic status. Sustainability refers to the responsible use of resources to ensure that future generations can also benefit from them. Human rights refer to the protection of basic human rights, including freedom of speech, religion, and the right to a fair trial. For example, a development project that prioritizes equity would ensure that marginalized groups have access to the resources and opportunities that they need to thrive.

7. Happiness and Income:
The relationship between happiness and income is a complex and debated topic. While some scholars argue that higher income leads to greater happiness, others disagree, pointing to factors such as social relationships, health, and personal values as more important determinants of happiness. It is important to note that happiness is a subjective experience and can vary greatly among individuals and cultures.

8. Economic Growth vs. Economic Development:
Economic growth refers to an increase in a nation’s output of goods and services, usually measured by changes in gross domestic product (GDP). Economic development, on the other hand, refers to the process by which a nation improves its standard of living, reduces poverty, and increases economic and social well-being. Economic growth can be a component of economic development, but it is not sufficient on its own. A nation can experience economic growth without achieving sustainable economic development. Currently, as a nation, the level of economic growth in a country can be measured by its GDP growth rate, while development can be assessed by indicators such as the Human Development Index (HDI), which includes factors such as life expectancy, education, and income.

Dinyelu Chikaodili Lovette
2019/245486
Combined Social Science
Economics/Political Science
chikaodililovette@gmail.com

1. Firstly, Development can be seen as a complex multi-dimensional concept involving improvements in human well being. Professor Dudley Seers argues that development is about outcomes, that is, development occurs with the reduction and elimination of poverty, inequality and unemployment within a growing economy. This is because to him, if these three variables have declined over a period of time, then development has occurred for the nation concerned. But, if one or two of these variables have been growing worse, especially if all three have, it would be strange to call the result development even if per capita income has soared. Based on Professor Dudley Seers arguments or statements, the following questions usually come to mind to know if really a nation is developed or not.
-. What has been happening to poverty?
_. What has been happening to unemployment?
_. What has been happening to inequality?
To Seer, if all three of these are declining, then beyond doubt, that nation is experiencing development. These means that true development happened when poverty is reduced or eliminated, unemployment declining and the levels of inequality is reducing. Of course, reduction in these three development indicators will in no doubt increases as the well being and quality of life of a nation’s citizens.

2. Apart from a rise in output, Economic development involves changes in composition of output, shift in allocation of productive resources, and elimination or reduction of poverty, inequalities and unemployment. This is possible because econmic development is the end point for every economy and cannot be achieved without this.

3. I agree with Armatya Sen’s word which says development requires the removal of major sources of unfreedom, poverty as well as tyranny,poor econmic opportunities as well as systematic social deprivation neglect of public facilities as well as intolerance or over activity of repressive states because Sen viewed development as freedom and the capability to function. According to him, for a person to be classified as poor and non-poor, it depends on the person’s capability to function. He defines capability as “the freedom that a person enjoyed in terms of choice to function, given his personal features and his command for commodities”. To Sen, poverty cannot be measured by income as conventionally understood. The important thing is not what a person has, but who he is, or maybe he did, or can do. According to Sen, development means to reduce deprivation or expand choice. Deprivation is a multidimensional phenomenon of poverty, which includes hunger, illiteracy, illness and poor health, impotence, lack of voice, insecurity, humiliation and lack of access to the foundation. For Sen, life consists in the effective freedom of man to achieve states of being and things. Therefore, freedom (not development) is the ultimate goal of economic life as well as the most efficient means of realizing general welfare. Overcoming deprivations is central to development.

4. The central role of women in the national development. Firstly, to make the biggest impact on development, societies must empower and invest in women. Women are the set of human beings that belongs to the female gender. They play the role of mothers, caretakers in family affairs, farmers, educators, entrepreneurs, teachers, e.t.c. It is historic that women play significant roles in societal development and ensure the stability, progress, and long-term development of nations. Women also play the role of decision-makers in homes. Globally, women contribute immensely to agricultural development, comprising about 43% of the world’s agricultural labor force. In some countries, the number of women involved in the agricultural labor force increases to over 70%. Available records indicate that in Africa alone, 80% of agricultural production comes from small farmers, most of whom are rural women. It is noteworthy that agriculture is the bedrock of national development as the best approach to food security, poverty reduction, job creation, and economic stability.
At home, women, notably mothers, play the role in decision-making about family meal planning and diet. Women also initiate and preserve the nutritional and healthcare programs of children at home. In addition, women are not only caring for their children at home but are also the primary caretakers of both children and elders in every country of the world. International studies indicate that women lead in finding solutions to the problems occasioned by a change of political and economic organizations in countries, thereby helping the family adjust to new realities and challenges. Indeed, women are the initiators who play important role in facilitating changes in family life. The UN Women Watch organization asserts that ” rural women play a key role in supporting their households and communities in achieving food and nutritional security, generating income, and improving rural livelihoods and overall wellbeing.
As educators, the role or contribution of women to society’s transition from pre-literate to the literate period is highly significant. Basic education is key to a nation’s ability to develop and achieve sustainable policies and programs. It is evident that education helps to improve agricultural productivity, enhances the status of girls and women, stabilizes population growth rates, enhances environmental protection and, increases the standard of living. It is the mother at home who most often urges children of both genders to attend and stay in school. The role of women is at the front end of the chain of improvement, leading to the family and the community’s long term capacity.
The role of women in providing an improved and sustainable workforce is also significant and exciting. The women’s share of the global workforce is about 45.5%. Women’s formal and informal labor can transform a community from a relatively autonomous society to a participant in the national economy. It is obvious that despite the cultural, social, and political setbacks of women, small businesses controlled by women in rural communities are not only extending beyond family lifelines but can also form a networked economic foundation for future generations. The role of women in the urban and rural workforce has expanded greatly in recent times.

5. Some important “Beings” and “Doings” in capability to function include:
(a). Being able to live long
(b). Being well-nourished
(c). Being healthy
(d). Being literate
(e). Being well clothed
(f). Being mobile
(g). Being able to take part in the life the community

6. The three core values of development with relevant examples include;
(a). Sustenance:Sustenance is the ability of people to meet the basic needs without which life will be impossible. These needs include food, shelter, health and protection. “Absolute underdevelopment” is when any of these is absent or in critically short supply. Without livelihoods and continuous economic progress, the realization of human potential will be much more difficult.
(b) Self-Esteem: This value talked about a sense of worth and self respect, a sense of not being used as a tool by others for their own selfish ends. It is believed that development is an important way of gaining self-esteem. Self-esteem is nowadays increasingly conferred only on countries and individuals that possess economic wealth, especially in Nigeria. True development should accord self-esteem to her every of her citizen whether they posses economic power or not.
(c). Freedom from servitude (ability to choose): This is the third core value which states that “freedom should be in form of being freeing from alienating material conditions of life and from social servitude to nature, ignorance, misery and dogmatic beliefs, especially that poverty is predestination”. To be able to make political and economic choice that does not infringe on someone’s rights.

7. Some scholars argued that happiness has a direct correlation with more income while others disagree because there is not a perfect correlation between happiness and per capita income as people could be poor, but happy, rich, but and unhappy. Scholars have extensively studied whether people with higher levels of income are happier. These scholars have demonstrated a correlation between higher incomes and greater happiness. However, the opposite question has not been well studied: To what extent do happier people earn greater income? It is assumed that higher incomes cause greater happiness. However, this causation has not been proven. It is possible that innately happier people earn higher incomes than people who are not as happy. If happier people do earn greater incomes, then this research could have far reaching implications that affect how companies across the globe treat their employees. Over the last 5 decades, the income–happiness correlation has increased, not decreased, in the USA and several European countries. The income–happiness correlation tends to get higher when both GDP per capita and income inequality are high, whereas it tends to get lower when GDP per capita and/or income inequality are low. These findings suggest the importance of accounting for income inequality as well as national wealth in understanding the role of money in happiness.
Once per capita income increases above $10000 to $20000, the percentage of people who say they are happy tends to increase.

8. The differences between economic growth and economic development includes the following;
1). Economic growth refers to increase in the monetary ( income) or output growth of a nation in a particular period. It takes place when there is a sustained (ongoing for at least 1-2 years) increase in a country’s output of goods and services meanwhile economic development refers to the overall development of the quality of life in a nation which includes economic growth. It occurs when the standard of living of a large majority of the population rises, including both income and other dimensions like health and literacy.
2). Economic growth is a narrower concept that economic development. GDP is a narrow measure of economic welfare that does not take account of non- economic aspects like more leisure time, access to health and education, environment, freedom or social justice meanwhile, economic development is a broader concept that economic growth. It involves steady decline in agricultural shares in GNP and continuous increase in shares of industries, trade banking construction and services.
3). Economic growth is a uni-dimensional approach which deals with the increase in income or output ( economic growth) of the nation, meanwhile, economic development is a multi-dimensional approach that looks into the income and as well as the quality of life of the nation. It also involves changes in technological and institutional organization of production as well as in distributive pattern of income.
4). Economic growth is a short term process while economic development is a long term process which leads to progressive changes in the socio-economic structure of a country.
5). Economic growth is about income ( GDP,GNP,GNI) meanwhile economic development is about outcomes ( Human development indicators, industrial development, improved standard of living
6). Economic growth is a necessary but insufficient condition for economic development meanwhile economic development is a necessary and sufficient condition for improvement if human welfare, raising of living standards and reduction of poverty
Where we are currently as a nation in terms of growth and development aimed to achieve the macroeconomic objectives of economic stability, low unemployment, low inflation and balanced of payment equilibrium; but the internal problems of insecurity, insurgency and banditry,terrorism, corruption, mismanagement and religion intolerances in Nigeria have hampered and slowed the country’s goals and objectives. Since 1960 that Nigeria gained independence, she seeks to achieve economic development which could translate to the well being of her people interms of quality of life but the problems enumerated above have negated achieving these objectives. Nigeria has experienced economic growth over the years and yet no development.
For instance, our economic growth kept on increasing from -1.6% in 2016 to 0.8% in 2017, 1.9% in 2018 and has increase to 2.29% in 2019 which is the most increased growth since 2015 (CBN bulletin). It is sad to note that despite these growths, the citizens are still experiencing low standard of living and low quality of life. The levels of poverty, unemployment and inequality are increasing every day.

UKWUEZE DESTINY AMARACHI
2018/242416
Economics

1 Dudley Seers, first Director of IDS, argued that “the focus on national income as a target for achieving poverty reduction avoided the real problems of development” and recommended “redefining how development was measured”. In this article, he made policy recommendations that focused on education, population growth, and political independence in order to better handle development issues.According to Seers, “there is no real ‘growth'” when the advantages of progress and technology exclusively benefit a select group of individuals in the industrialized world who are already affluent.Additionally, “statistics agencies would provide more suitable information if governments become more interested in social metrics” Evidently, the Indian government wanted to include such policies in its National House.

2 The government budget, as well as the nation’s policies for reducing poverty, must be supported in a sustainable, noninflationary way to preserve macroeconomic stability.Iterative methods are used in the creation and integration of a nation’s macroeconomic policy and strategy for reducing poverty.Prior to costing and financing poverty reduction strategies within the overall budget in a noninflationary way, poverty reduction strategies must first be articulated (which means the objectives and policies must be specified).However, the amount of financing, much of which will be on favorable terms, is not always set during this process:In the same way that capital projects undertaken by the government increase employment and income for the people, thereby reducing poverty, and provide productive and social amenities and resources to the people in an economy, leading to economic development, efficient resource allocation from area of surplus to area of deficit ensures an increase in the standard of living.

3 yes
The process of increasing human freedom is development.The improvement of freedoms that enable people to lead lives in which they have a cause to live” is what it is.Thus “progress involves the removal of key sources of unfreedom: poverty as well as tyranny, low economic possibilities as well as systematic social deprivation, neglect of public amenities as well as intolerance or overactivity of repressive authorities”.

4 The central place of women in society has always safeguarded a country’s stability, advancement, and long-term growth.They play the function of – Mothers: Women, particularly mothers, have the most influence on dietary and meal decisions for the family.Women also self-report taking more action to maintain the health and nutrition of their children.
_ caretakers:Primary guardians of children and the elderly exist in every nation on earth.
._Farmers:Women make up 43% of the agricultural labor force globally, with certain nations seeing a climb to 70%.
_Educators:Unquestionably, women played a role in a society’s shift from a pre-literate to a literate state.
_Workforce:Nowadays, women make up 45.4% of the worldwide workforce on average. A community can become a participant in the national economy by utilizing the official and informal work of women, which can change it from a largely autonomous society.
_Entrepreneur and teachers:It has long been recognized that women contribute significantly to societal advancement and the stability, development, and long-term growth of nations. In the house, women are often the decision-makers.
5. A theoretical framework known as the capacity approach makes the following two normative claims:
_first :The idea that having the choice to pursue happiness has moral priority.
_second:The capabilities and functioning of persons should be considered when defining well-being.The doings and beings that people can achieve if they so desire include things like being well-fed, getting married, educated, and traveling, as well as being well-clothed and mobile and able to participate in community life. As opposed to merely formal rights and freedoms, capabilities denote the freedoms that have been freed from any potential barriers. They are also referred to as real or substantive freedoms
6 There are three core values of development:
(i) sustenance
(ii) self- esteem
.(iii) freedom.
Sustenance: Sustenance is the capacity to satisfy a person’s fundamental requirements. Without a few essential requirements, life would be impossible for everyone.Food, housing, health, and security are among these fundamental need.
Self-esteem is the belief in one’s own abilities or value. Self-esteem includes one’s self-perceptions as well as emotional states including joy, anguish, pride, and shame.
Self_esteem: Self-esteem, or the conviction that one is not deserving of being treated as a tool by others to further their own objectives, is a second essential element of a good existence. Owing to the importance placed on material values in developed nations, developed nations are now increasingly the only ones who are considered worthy and seen as technologically and economically powerful.

Freedom from Servitude: As he came to the conclusion that “the advantage of economic expansion is not that riches promotes happiness, but that it widens the range of human choice,” Arthur Lewis emphasized the connection between economic progress and freedom from servitude.A person who is wealthy may be able to exert more control over the natural world and his or her physical surroundings than one who is still in poverty.They also have more discretionary freedom as a result.
7. We’ve all heard the adage that happiness is something you can’t buy. However a recent study in the journal Applied Research in Quality of Life suggests that your perspective on wealth and materialism may have a big impact on how content and happy you are in life.Buying into “happiness materialism” — the idea that having money indicates having a happy life — is usually problematic because it diverts time, resources, and money from other areas of life that are crucial to current life satisfaction, like family, work, and health, according to the study’s authors.
But according to experts, focusing on “success materialism”—the notion that having money indicates success—increases people’s “economic motivation,” or their desire to work and raise their standard of living.People may feel happier with their current life and more optimistic about the future if they view success through that perspective.The way people view success and their lives may change as a result of this straightforward mentality change, but there are undoubtedly other factors at work as well. For instance, although the particular impact of income on life satisfaction was not examined in this study, scholars concur that this factor affects people’s happiness as well.According to a 2010 Princeton University study, happiness and wealth are correlated up to a point of around $75,000 per year. The study discovered that while happiness does not rise with income above $75,000 per year, it does so with income below that level.
Jiao noted in the press release that it’s crucial to remember the things that make you happy but don’t cost money most of all. She listed them: “Family, friends, your health, lifelong learning, and new experiences.

8 Economic development is a broader idea than economic growth. It is an increase in a nation’s actual level of national output, which can be brought on by improvements in resource quality (through education, for example), resource quantity, technological advancements, or, in another way, the value of the goods and services produced by every sector of the economy. A country’s GDP growth can be used to gauge economic growth (gross domestic product).Economic development is a normative term, meaning that it pertains to people’s moral sensibilities (right and wrong, good and bad). According to Michael Todaro, economic progress entails higher living standards, better self-esteem requirements, freedom from persecution, and more options.
The Human Development Index, which takes into consideration life expectancy and literacy rates that have an impact on productivity and may contribute to economic growth, is the most accurate way to gauge development.Additionally, it results in the expansion of opportunities in the fields of employment, education, healthcare, and environmental preservation. It suggests a rise in each citizen’s per capita income.
The scale of the informal economy is not taken into consideration by economic growth.The black economy, which is unrecorded economic activity, is another name for the informal economy. Those with low standards of living are helped by development to find decent work and housing. Economic growth ignores the use up of natural resources, which can result in pollution, congestion, and sickness.Yet, development focuses on sustainability, which involves addressing existing needs without jeopardizing those of the future. With rising pressure from global warming, these environmental repercussions are becoming a bigger issue for governments.
Economic development requires economic growth, but it is not a sufficient prerequisite in and of itself. With this, I can assert that progress in Nigeria is incredibly slow and the country is underdeveloped.

UKWUEZE DESTINY AMARACHI
2018/242416
Economics

1 Dudley Seers, first Director of IDS, argued that “the focus on national income as a target for achieving poverty reduction avoided the real problems of development” and recommended “redefining how development was measured”. In this article, he made policy recommendations that focused on education, population growth, and political independence in order to better handle development issues.According to Seers, “there is no real ‘growth'” when the advantages of progress and technology exclusively benefit a select group of individuals in the industrialized world who are already affluent.Additionally, “statistics agencies would provide more suitable information if governments become more interested in social metrics” Evidently, the Indian government wanted to include such policies in its National House.

2 The government budget, as well as the nation’s policies for reducing poverty, must be supported in a sustainable, noninflationary way to preserve macroeconomic stability.Iterative methods are used in the creation and integration of a nation’s macroeconomic policy and strategy for reducing poverty.Prior to costing and financing poverty reduction strategies within the overall budget in a noninflationary way, poverty reduction strategies must first be articulated (which means the objectives and policies must be specified).However, the amount of financing, much of which will be on favorable terms, is not always set during this process:In the same way that capital projects undertaken by the government increase employment and income for the people, thereby reducing poverty, and provide productive and social amenities and resources to the people in an economy, leading to economic development, efficient resource allocation from area of surplus to area of deficit ensures an increase in the standard of living.

3 yes
The process of increasing human freedom is development.The improvement of freedoms that enable people to lead lives in which they have a cause to live” is what it is.Thus “progress involves the removal of key sources of unfreedom: poverty as well as tyranny, low economic possibilities as well as systematic social deprivation, neglect of public amenities as well as intolerance or overactivity of repressive authorities”.

4 The central place of women in society has always safeguarded a country’s stability, advancement, and long-term growth.They play the function of – Mothers: Women, particularly mothers, have the most influence on dietary and meal decisions for the family.Women also self-report taking more action to maintain the health and nutrition of their children.
_ caretakers:Primary guardians of children and the elderly exist in every nation on earth.
._Farmers:Women make up 43% of the agricultural labor force globally, with certain nations seeing a climb to 70%.
_Educators:Unquestionably, women played a role in a society’s shift from a pre-literate to a literate state.
_Workforce:Nowadays, women make up 45.4% of the worldwide workforce on average. A community can become a participant in the national economy by utilizing the official and informal work of women, which can change it from a largely autonomous society.
_Entrepreneur and teachers:It has long been recognized that women contribute significantly to societal advancement and the stability, development, and long-term growth of nations. In the house, women are often the decision-makers.
5. A theoretical framework known as the capacity approach makes the following two normative claims:
_first :The idea that having the choice to pursue happiness has moral priority.
_second:The capabilities and functioning of persons should be considered when defining well-being.The doings and beings that people can achieve if they so desire include things like being well-fed, getting married, educated, and traveling, as well as being well-clothed and mobile and able to participate in community life. As opposed to merely formal rights and freedoms, capabilities denote the freedoms that have been freed from any potential barriers. They are also referred to as real or substantive freedoms
6 There are three core values of development:
(i) sustenance
(ii) self- esteem
.(iii) freedom.
Sustenance: Sustenance is the capacity to satisfy a person’s fundamental requirements. Without a few essential requirements, life would be impossible for everyone.Food, housing, health, and security are among these fundamental need.
Self-esteem is the belief in one’s own abilities or value. Self-esteem includes one’s self-perceptions as well as emotional states including joy, anguish, pride, and shame.
Self_esteem: Self-esteem, or the conviction that one is not deserving of being treated as a tool by others to further their own objectives, is a second essential element of a good existence. Owing to the importance placed on material values in developed nations, developed nations are now increasingly the only ones who are considered worthy and seen as technologically and economically powerful.

Freedom from Servitude: As he came to the conclusion that “the advantage of economic expansion is not that riches promotes happiness, but that it widens the range of human choice,” Arthur Lewis emphasized the connection between economic progress and freedom from servitude.A person who is wealthy may be able to exert more control over the natural world and his or her physical surroundings than one who is still in poverty.They also have more discretionary freedom as a result.
7. We’ve all heard the adage that happiness is something you can’t buy. However a recent study in the journal Applied Research in Quality of Life suggests that your perspective on wealth and materialism may have a big impact on how content and happy you are in life.Buying into “happiness materialism” — the idea that having money indicates having a happy life — is usually problematic because it diverts time, resources, and money from other areas of life that are crucial to current life satisfaction, like family, work, and health, according to the study’s authors.
But according to experts, focusing on “success materialism”—the notion that having money indicates success—increases people’s “economic motivation,” or their desire to work and raise their standard of living.People may feel happier with their current life and more optimistic about the future if they view success through that perspective.The way people view success and their lives may change as a result of this straightforward mentality change, but there are undoubtedly other factors at work as well. For instance, although the particular impact of income on life satisfaction was not examined in this study, scholars concur that this factor affects people’s happiness as well.According to a 2010 Princeton University study, happiness and wealth are correlated up to a point of around $75,000 per year. The study discovered that while happiness does not rise with income above $75,000 per year, it does so with income below that level.
Jiao noted in the press release that it’s crucial to remember the things that make you happy but don’t cost money most of all. She listed them: “Family, friends, your health, lifelong learning, and new experiences.

8 Economic development is a broader idea than economic growth. It is an increase in a nation’s actual level of national output, which can be brought on by improvements in resource quality (through education, for example), resource quantity, technological advancements, or, in another way, the value of the goods and services produced by every sector of the economy. A country’s GDP growth can be used to gauge economic growth (gross domestic product).Economic development is a normative term, meaning that it pertains to people’s moral sensibilities (right and wrong, good and bad). According to Michael Todaro, economic progress entails higher living standards, better self-esteem requirements, freedom from persecution, and more options.
The Human Development Index, which takes into consideration life expectancy and literacy rates that have an impact on productivity and may contribute to economic growth, is the most accurate way to gauge development.Additionally, it results in the expansion of opportunities in the fields of employment, education, healthcare, and environmental preservation. It suggests a rise in each citizen’s per capita income.
The scale of the informal economy is not taken into consideration by economic growth.The black economy, which is unrecorded economic activity, is another name for the informal economy. Those with low standards of living are helped by development to find decent work and housing. Economic growth ignores the use up of natural resources, which can result in pollution, congestion, and sickness.Yet, development focuses on sustainability, which involves addressing existing needs without jeopardizing those of the future. With rising pressure from global warming, these environmental repercussions are becoming a bigger issue for governments.
Economic development requires economic growth, but it is not a sufficient prerequisite in and of itself. With this, I can assert that progress in Nigeria is incredibly slow and the country is underdeveloped.

Udeogwu precious kosarachi
Economics/philosophy
2019/244167
ECO 361 QUIZ
Precious.udeogwu.244167@unn.edu.ng

1. Professor Dudley Seers argues that development is about outcomes ie development occurs with the reduction and elimination of poverty, inequality and unemployment within a growing economy. Discuss

What Professor Dudley means here is that we can’t have a positive development in an economy without the elimination of poverty, inequality and unemployment. According to him,when an economy have a higher percentage of unemployment level,there will be no way for economic growth or development. The higher the opportunity for equality, the higher the chances of development. Ceteris paribus. Although certain factors hinders the development of a country such as political factors,when the government of a country is not being productive, even if there’s a growth in the economy, there eill still be a stagnation of development and their will be nothing to geer up development. Hence development and growth are not the same thing.
Seer went further to highlight some of the objectives for the development and growth of an economy. These are;
That family incomes should be adequate to provide a subsistence package of food, shelter, clothing, and footwear.
That jobs should be available to all family heads, not only because this will ensure that distribution of income will generally achieve subsistence consumption levels, but also because a job is something without which personality cannot develop.
That access to education should be increased and literacy ratios raised.
That the populace should be given an opportunity to participate in government.
That national independence should be achieved in the sense that the views of other governments do not largely predetermine one’s own government’s decisiions

2)Apart from a rise in output, Economic Development involves changes in composition of output, shift in the allocation of productive resources, and elimination or reduction of poverty, inequalities and unemployment. Clearly discuss the above assertion.
Economic development is a critical component that drives economic growth in an economy, creating new job opportunities and facilitating an improved quality of life that includes increased access to opportunities created by economic growth for existing and future residents
When we talk of economic development, we are not just talking about growth alone but a larger increments in sustenance of man and his environment.economic development as a shift in the location of productive resources and elimination or reduction of poverty, inequality and unemployment,it is under that when an economy when there is a development in an economy the productive resources is diversified in the sense that it is no longer in one angle but various aspects of the economy tends to benefit from it. again as a reduction in poverty level when an economy develop wealth it is multiplied and more job opportunities are created, thereby ushering in enough room for employment which hereby makes all labour efficient for employment.
Inequality amongst government and the people is one of the Major contributors of a decrease in productivity of a country in an economy.added with mismanagement of fund by the government or a system of governance where rulership is by the Minorities,who are wealthy,this brings About Nothing Else but stagnation in economic growth and development. So as professor Dudley has stated total elimination of poverty, inequality and unemployment who bring about development and the country gross national product will be multiplied.

3. In the words of Amartya Sen “Development requires the removal of major sources of unfreedom, poverty as well as tyranny, poor economic opportunities as well as systematic social deprivation neglect of public facilities as well as intolerance or over activity of repressive states. Do you agree? Explain in details
Yes I agree.
When we talk development we talk freedom an economy can only develop Wendy Matthews are able to exercise their right it is an expression of one’s right that man becomes creative and thereby limit the possibilities of unemployment according to amartya sen it is because people were deprived of some starting right and privileges that brings about under development for an example countries like Asia and North Africa their is capability deprivation of women involvement in political and some socio economic affairs, if this is so, it means that the larger population which comprises of women are not participants in the general activities of the country making them to becomes a liability to the country instead of profit.because an asset when un-used make use of to get a better outfit .so when these women are being deprived of some certain rights and privileges to exercise themselves to be creative to be proactive the end of being a burden to the male gender thereby promotion of poverty ,less freedom and unemployment.

4) Critically discuss the Central Role of Women in the National Development

Women are the set of human beings that belongs to the female gender. They play the role of mothers, caretakers in family affairs, farmers, educators, entrepreneurs, teachers, e.t.c. It is historic that women play significant roles in societal development and ensure the stability, progress, and long-term development of nations. Women also play the role of decision-makers in homes. Globally, women contribute immensely to agricultural development, comprising about 43% of the world’s agricultural labor force. In some countries, the number of women involved in the agricultural labor force increases to over 70%. Available records indicate that in Africa alone, 80% of agricultural production comes from small farmers, most of whom are rural women. It is noteworthy that agriculture is the bedrock of national development as the best approach to food security, poverty reduction, job creation, and economic stability.

At home, women, notably mothers, play the role in decision-making about family meal planning and diet. Women also initiate and preserve the nutritional and healthcare programs of children at home. In addition, women are not only caring for their children at home but are also the primary caretakers of both children and elders in every country of the world. International studies indicate that women lead in finding solutions to the problems occasioned by a change of political and economic organizations in countries, thereby helping the family adjust to new realities and challenges. Indeed, women are the initiators who play important role in facilitating changes in family life. The UN Women Watch organization asserts that ” rural women play a key role in supporting their households and communities in achieving food and nutritional security, generating income, and improving rural livelihoods and overall wellbeing.

As educators, the role or contribution of women to society’s transition from pre-literate to the literate period is highly significant. Basic education is key to a nation’s ability to develop and achieve sustainable policies and programs. It is evident that education helps to improve agricultural productivity, enhances the status of girls and women, stabilizes population growth rates, enhances environmental protection and, increases the standard of living. It is the mother at home who most often urges children of both genders to attend and stay in school. The role of women is at the front end of the chain of improvement, leading to the family and the community’s long term capacity.

5) Clearly discuss some Important “Beings” and “Doings” in Capability to Function

Sen argues that people’s well-being depends upon what they are actually capable of doing and being. Thus, he focused on something more direct such as human functionings and capabilities in terms of which the quality of life is analyzed. In other words, a person’s capabilities offer a perspective in terms of which his advantages and disadvantages can be reasonably assessed – that makes it highly appropriate for analyzing poverty.
Functionings: Functionings are what people really “do and are”. They are achievements of people: they are ‘doings’ or ‘beings’. Taken together, these doings and beings – achieved functionings – give value to life. The functioings may include being well-nourished, having shelter, able to work, rest; or being literate or healthy; being part of a community or group; being respected, and so on.

Achieving a functioning (for example, being adequately nourished) with a given bundle of commodities (say, bread or rice) depends on a range of personal and social factors (e.g. age, gender, activity levels, health, access to medical services, nutritional knowledge and education, climatic conditions, and so on). A functioning therefore refers to the use a person makes of whatever is at his/her command.

Capabilities: Capabilities are options to achieve valuable functionings; it reflects his freedom to choose. So, capabilities refer to the set of valuable functionings that a person has effective access to. They are best thought to be the equivalent of a person’s opportunity set. In nutshell, capabilities are made up of two things: functionings and the freedom to choose from them.

6)
Discuss the three Core Values of Development with relevant example

The three core value of Economic development was postulated by Denis Goulet.

They are;
SUSTENANCE
SELF ESTEEM
FREEDOM from SERVITUDE
Sustenance
The life-sustaining basic human needs include food, shelter, health and protection. When any one of these is absent or in critically short supply, a condition of absolute “underdevelopment” exists.

Self-esteem:

A second universal component of good life is self- esteem- a sense of worth and self-respect- of not being used as a tool by others for their own ends. Due to the significance attached to material values in developed nations, worthiness and esteem are now-a-days increasingly conferred only on countries that possess economic wealth and technological power- those that have developed.Now-a-days the Third World seeks development in order to gain the esteem which is denied to societies living in a state of disgraceful “underdevelopment.” … Development is legitimized as a goal because it is an important, perhaps even an indispensable, way of gaining esteem.6

Freedom from Servitude:

Arthur Lewis stressed the relationship between economic growth and freedom from servitude when he concluded that “the advantage of economic growth is not that wealth increases happiness, but that it increases the range of human choice.” Wealth can enable a person to gain greater control over nature and his physical environment than they would have if they remained poor.

It also gives them the freedom to choose greater leisure. The concept of human freedom should encompass various components of political freedom, freedom of expression, political participation and equality of opportunity.

7)
Some scholars have argued that happiness has a direct correlation with more income while others disagree with the assertion.

For me,I would say “Happiness increases with income, to a point”
One of the most well-known findings in the economic study of happiness is that, on average, happiness increases with income, but at a certain point diminishing returns set in.
In other words, money can only buy health care.
4) It refers to an increase over time in a country’s real output of goods and services (GNP) or real output per capita income. Economic development includes process and policies by which a country improves the social, economic and political well-being of its people.

5)Economic growth focuses on production of goods and services.
Economic development focuses on distribution of resources.

6)Economic growth relates a gradual increase in one of the components of GDP; consumption, government spending, investment or net exports.
Economic development relates to growth of human capital indexes and decrease in inequality.It is concerned with how people are affected.

7) Economic growth is single dimensional in nature as it only focuses on income of the people.
Economic development is multi-dimensional in nature as it focuses on both income and improvement of living standards of the people.
Hence,Nigeria as a country is still in the level of economic growth and not the developmental aspect because the components of growth has not established in the country,the country still battles with instability in the economy, inflation and deflation and political instability.

NDUUL MICHAEL TERUNGWA
2019/246514
ÉCO MAJOR

Question 1.

Michael Todaro specified three objectives of development:
1.Life sustaining goods and services: To increase the availability and widen the distribution of basic life-sustaining goods such as food, shelter, health and protection.
2.Higher incomes: To raise levels of living, including, in addition to higher incomes, the provision of more jobs, better education, and greater attention to cultural and human values, all of which will serve not only to enhance material well-being but also to generate greater individual and national self-esteem
3.Freedom to make economic and social choices: To expand the range of economic and social choices available to individuals and nations by freeing them from servitude and dependence not only in relation to other people and nation-states but also to the forces of ignorance and human misery.
Note the emphasis placed on cultural and human values, self-esteem and freedom from ignorance; it is important to remember that development is about more than advancing economic growth. Many economists believe development should be less about growth, more about inclusive well-beingand about building capacities and resilience in a fast-changing and unpredictable world.The most common measurement of development is the Human Development Index published each year by the United Nations Development Programme .Dudley Sears has defined development as “the reduction and elimination of poverty, inequality and unemployment within a growing economy”

question 2.

The HDI is a summary measurement of basic achievement levels in human development. The computed HDI of a country is an average of indexes of each of the life aspects that are examined: knowledge and understanding, a long and healthy life, and an acceptable standard of living. Each of the components is normalized to scale between 0 and 1, and then the geometric mean of the three components is calculated.2
The health aspect of the HDI is measured by the life expectancy, as calculated at the time of birth, in each country, and normalized so that this component is equal to 0 when life expectancy is 20 and equal to 1 when life expectancy is 85.3
Education is measured on two levels: the mean years of schooling for residents of a country, and the expected years of schooling that a child has at the average age for starting school. These are each separately normalized so that both 15 mean years of schooling and 18 years of expected schooling equal 1, and a simple mean of the two is calculated.3
The economic metric chosen to represent the standard of living is GNI per capita based on purchasing power parity (PPP), a common metric used to reflect average income. The standard of living is normalized so that it is equal to 1 when GNI per capita is $75,000 and equal to 0 when GNI per capita is $100

question 3.

After World War II a number of developing countries attained independence from their former colonial rulers. One of the common claims made by leaders of independence movements was that colonialism had been responsible for perpetuating low living standards in the colonies. Thus economic development after independence became an objective of policy not only because of the humanitarian desire to raise living standards but also because political promises had been made, and failure to make progress toward development would, it was feared, be interpreted as a failure of the independence movement. Developing countries in Latin America and elsewhere that had not been, or recently been, colonies took up the analogousbelief that economic domination by the industrial countries had thwarted their development, and they, too, joined the quest for rapid growth. At that early period, theorizing about development, and about policies to attain development, accepted the assumption that the policies of the industrial countries were to blame for the poverty of the developing countries. Memories of the Great Depression, when developing countries’ terms of trade had deteriorated markedly, producing sharp reductions in per capita incomes, haunted many policymakers. Finally, even in the developed countries, the Keynesian legacyattached great importance to investment.
In this milieu, it was thought that a “shortage of capital” was the cause of underdevelopment. It followed that policy should aim at an accelerated rate of investment. Since most countries with low per capita incomes were also heavily agricultural (and imported most of the manufactured goods consumed domestically), it was thought that accelerated investment in industrialization and the development of manufacturing industries to supplant imports through “import substitution” was the path to development. Moreover, there was a fundamental distrust of markets, and a major role was therefore assigned to government in allocating investments. Distrust of markets extended especially to the international economy.

question 4.

1.Job creation
Economic developers provide critical assistance and information to companies that create jobs in our economy. We help to connect new-to-market and existing companies with the resources and partners needed to expand, such as industry partners like CareerSource Central Florida and the Florida High Tech Corridor, utilities, and local government partners.
2. Industry diversification
A core part of economic development works to diversify the economy, reducing a region’s vulnerability to a single industry. While tourism plays an important role in creating jobs in the Orlando region, economic development efforts help to grow industries outside of tourism, including advanced manufacturing, aerospace and defense, aviation, autonomous vehicles, biotechnology and pharmaceuticals, business services, gaming, entertainment technology, financial technology, life sciences and healthcare, logistics and distribution, medical technology, and innovative technology.
3. Business retention and expansion
A large percentage of jobs in the Orlando economy are created by existing companies that are expanding their operations. The Partnership’s economic development team executed numerous business retention and expansion visits to local companies just last year to assist with their operational needs.
4. Economy fortification
Economic development helps to protect the local economy from economic downturns by attracting and expanding the region’s major employers. For example, when the COVID-19 pandemic heavily impacted the global leisure and hospitality industry, many technology companies transitioned focus to clients in the region’s modeling, simulation and training sector.
5. Increased tax revenue
The increased presence of companies in the region translates to increased tax revenue for community projectsand local infrastructure. Economic development can also support major job creation initiatives such as the semiconductor research and development campus NeoCity, positioning the 500-acre development opportunity for critical funding for domestic semiconductor research and manufacturing through advocacy for the CHIPS and FABS Acts.
6. Improved quality of life
Better infrastructure and more jobs improve the economy of the region and raise the standard of living for its residents. Quality of place is more important than ever to attract a large talent pool in the era of increased remote workers. in addition, inclusive economic development works to support the community’s quality of life through initiatives such as supporting the regional transportation network, affordable housing, innovation and entrepreneurshipas well as upskilling opportunities for the local workforce. These initiatives help to provide access and capabilities for the existing workforce to take advantage of the new high-wage job opportunities created by economic development efforts.

Question 5

Alfred Sauvy (31 October 1898 – 30 October 1990)[1] was a demographer, anthropologist and historian of the French economy. Sauvy coined the term Third World (“Tiers Monde”) in reference to countries that were unaligned with either the Communist Soviet bloc or the Capitalist NATO bloc during the Cold War.
These other terms have been criticized for a lack of accuracy and political correctness, too. For example, if some countries are “advanced,” then are other countries “backward” or “behind”? If some countries are describes as  “emerging,” what are they emerging from, and what are they becoming? When countries were referred to as “developing,” it sometimes seemed to be more of an optimistic outlook than an actual description, and referring to countries with rich and lengthy cultural, political and human inheritances as “undeveloped” seemed to put economic values ahead of all others. 
Others have used acronyms “From BRICs to  MINTs” (February 24, 2014), but looking at clusters of four countries, whether it’s Brazil, Russia, India, and China or Mexico, Indonesia, Nigeria, and Turkey, doesn’t capture the breadth of the economic shift that is occurring.
Woetzel describes how the global economy is changing in response to four shifts: the rapid march of technological progress; the emerging “superstar” phenomenon, which is exacerbating inequalities; the rapidly changing dynamics of China’s economy; and the evolving nature of globalization itself. He draws on a report that he co-authored with Jacques Bughin, “Navigating a world of disruption” (McKinsey Global Institute, January 2019),  which describes the range and scope of economic success stories in countries around the world.

Question 6

Sustenance: Sustenance refers to the basic needs of a human being without which survival would not be possible. These needs include food, shelter, security and good health. Shortage of any of these necessities implies a situation of severe underdevelopment of the economy. Development, therefore, must lead to the reduction of these shortages and fulfil these basic needs of the population. The benefits of growth must be accompanied by a reduction in this absolute poverty situation. As a result, improvement in the quality of overall life in an economy is bound to occur.
Self-esteem: Every individual is entitled to a sense of self-worth or self-respect. Although the nature of self-esteem may change with society or the economy, the basic idea remains the same. All people have the right to a life of dignity and honour. Respect, however, is often attached to wealth and the underdevelopment of an economy can be a burden on people’s self-esteem. Hence to promote self-worth, development must be spread across the whole economy and not just certain sections within it.
Freedom: Freedom refers to not just freedom from servitude, but also from discrimination, oppressive beliefs and practices. Equal opportunity and freedom in every aspect of the social, legal, cultural and political situation are necessary for every individual. Everyone must be free to choose and have control over their own life and actions. Growth without freedom has been observed in many nations, which defeats the purpose of development.

Question 7

Does money buy happiness? This question has received extensive empirical attention since Richard Easterlin’s seminal work in 1974 (e.g. 1–3; see 4–5for reviews). Easterlin (6) looked at results from 30 national surveys in 20 countries and concluded that “there is a clear indication that income and happiness are positively associated” (p. 99), and that “in every single survey, those in the highest status group were happier, on the average, than those in the lowest status group” (p. 100). Diener and Oishi (7) examined the income–happiness correlation in 40 countries and found that the mean income–happiness correlation was 0.13. According to Diener and Biswas-Diener (4), the income–happiness correlation in a national survey ranged from 0.12 to 0.18 in the USA, 0.06 to 0.15 in West Germany, and 0.17 to 0.27 in the Russian Federation. A recent meta-analysis of 335 studies found that the mean income–happiness correlation was 0.23 (8). Inglehart and colleagues (9) analyzed data from 52 countries and found that the income–happiness correlation was stronger in poorer countries than in richer countries. That is, money seems to buy more happiness in poorer countries than in richer countries. In this light, it is interesting to note that the income–happiness correlation was 0.45 among 83 residents in the slums of Calcutta (10). The main idea is that among those who are struggling to meet their basic needs, more money means greater access to basic goods (e.g. drinking water, food, shelter). In contrast, it is believed that once the basic needs are met, more money does not necessarily help increase one’s happiness (9, 11).Interestingly, recent research on money and happiness found that money seems to buy more happiness even among wealthy individuals whose basic needs are met. For instance, Killingsworth (12) analyzed the experience sampling data (i.e. momentary reports of happiness) from 33,391 employed, working-age adults living in the USA and found that self-reported happiness continues to increase as the participants’ household income increases, even beyond $120,000. Moreover, Jebb and colleagues (13) analyzed the data from 164 countries and found that the income–happiness correlation was larger in wealthier countries rather than in poorer countries.

Question 8

Economic growth means an increase in real national income / national output.
Economic development means an improvement in the quality of life and living standards, e.g. measures of literacy, life-expectancy and health care.
Ceteris paribus, we would expect economic growth to enable more economic development. Higher real GDP enables more to be spent on health care and education.
However, the link is not guaranteed. The proceeds of economic growth could be wasted or retained by a small wealthy elite.
What is Economic Growth?
Economic growth can be referred to as the increase that is witnessed in the monetary value of all the goods and services produced in the economy during a time period. It is a type of quantitative measure that reflects the potential increase in the number of business transactions taking place in the economy.
It can be measured in terms of the increase in the aggregate market value of additional goods and services produced by using economic concepts such as GDP and GNP.
Economic growth is a narrow concept when compared to economic development.
Also Check: Human Capital on Economic Growth
What is Economic Development?
Economic development refers to the process by which the overall health, well-being, and academic level of the general population of a nation improves. It also refers to the improved production volume due to the advancements of technology.
It is the qualitative improvement in the life of the citizens of a country and is most appropriately determined by the Human Development Index (HDI). The overall development of a country is based on many parameters such as the creation of job opportunities, technological advancements, standard of living, living conditions, per capita income, quality of life, improvement in self-esteem needs, GDP, industrial and infrastructural development, etc.

UNIVERSITY OF NIGERIA, NSUKKA

FACULTY OF SOCIAL SCIENCES
DEPARTMENT OF ECONOMICS

AN ASSIGNMENT SUBMITTED IN PARTIAL FULFILOMENT FOR THE REQUIREMENT OF THE COURSE: UNDERSTANDING THE MEANING OF DEVELOPMENT (ECO 361)

BY
UCHEAMA CALISTA NGOZI
2019/243039

TOPICS:
NO. 1 – ACCORDING TO PROF. MICHAEL TODARO, THE THREE OBJECTIVES OF DEVELOPMENT INCLUDE, PRODUCING MORE LIFE SUSTAINING NECESSITIES SUCH AS FOOD, SHELTER AND HEALTH CARE AND BROADENING THEIR DISTRIBUTION, PRAISING STANDARDS OF LIVING AND INDIVIDUAL SELF-ESTEEM, AND EXPANDING ECONOMIC AND SOCIAL CHOICE AND REDUCING FEAR. DISCUSS ELABORATELY.

NO. 2 – MEASURING DEVELOPMENT IS A TEDIOUS PROCESS AND MANY DEVELOPMENT AGENCIES HAVE TRIED TO DEVELOP INDICATORS TO MEASURE DEVELOPMENT ACCURATELY. AGAINST THIS BACKGROUND, CLEARLY DISCUSS THE SET OF INDICES DEVELOPED BY THE UN AND OTHER GLOBAL AGENCIES ON HOW TO MEASURE DEVELOPMENT.

NO. 3 – DEVELOPMENT ECONOMICS EMERGED AS A BRANCH OF ECONOMICS BECAUSE: ECONOMISTS AFTER WORLD WAR II BECOME CONCERNED ABOUT THE LOW STANDARD OF LIVING IN SO MANY COUNTRIES OF LATIN, AMERICA, AFRICA AND ASIA. DISCUSS.

NO. 4 – MANY FOLKS STUDY DEVELOPMENT ECONOMICS FOR MANY REASONS. DISCUSS.

NO. 5 – THE FRENCH DEMOGRAPHER ALFRED SAUVY COINED THE EXPRESSION (“TIERS MONDE” IN FRENCH) IN 1952 BY ANALOGY WITH THE “THIRD ESTATE,” (THE COMMONERS OF FRANCE BEFORE AND DURING THE FRENCH REVOLUTION) – AS OPPOSED TO PRIESTS AND NOBLES, COMPRISING THE FIRST AND SECOND ESTATES RESPECTIVELY. LIKE THE THIRD ESTATE, WROTE SAUVY, THE THIRD WORLD IS NOTHING, AND IT “WANTS TO BE SOMETHING”. CLEARLY DISCUSS AND ANALYSE THIS ASSERTION IN DETAILS.

JANUARY, 2023.
NO. 1

Economic development is a broad term that does not have a single, unique definition. In this introductory study note we look at some interpretations of the meaning of economic development. Economist Michael Todaro specified three objectives of development:
Life sustaining goods and services: To increase the availability and widen the distribution of basic life-sustaining goods such as food, shelter, health and protection.
Higher incomes: To raise levels of living, including, in addition to higher incomes, the provision of more jobs, better education, and greater attention to cultural and human values, all of which will serve not only to enhance material well-being but also to generate greater individual and national self-esteem
Freedom to make economic and social choices: To expand the range of economic and social choices available to individuals and nations by freeing them from servitude and dependence not only in relation to other people and nation-states but also to the forces of ignorance and human misery.

Note the emphasis placed on ‘cultural and human values’, ‘self-esteem’ and freedom from ignorance; it is important to remember that development is about much more than advancing economic growth.

Development is not purely an economic phenomenon but rather a multi-dimensional process involving reorganization and reorientation of entire economic and social system
Development is process of improving the quality of all human lives with three equally important aspects.

The field of economic development is versatile and has much to contribute regarding these differing scenarios. Thus the text also underlines common features exhibited by a majority of developing nations using the insights of the study of economic development. The few countries that have essentially completed the transformation to become developed economies such as South Korea are also examined as potential models for other developing countries to follow. Both theory and empirical analysis in development economics have made major strides, and the Eleventh Edition brings these ideas and findings to students.

Development is the process of structural transformation. Development must therefore be conceived of as a multidimensional process involving major changes in social structures, popular attitudes, and national institutions, as well as the acceleration of economic growth, the reduction of inequality, and the eradication of poverty. Development, in its essence, must represent the whole gamut of change by which an entire social system, tuned to the diverse basic needs and evolving aspirations of individuals and social groups within that system, moves away from a condition of life widely perceived as unsatisfactory toward a situation or condition of life regarded as materially and spiritually better. No one has identified the human goals of economic development as well as Amartya Sen, perhaps the leading thinker on the meaning of development.

NO. 2
There are many ways to distinguish between developing and developed countries and measuring development. However, the issue of measuring development has been controversial and our thinking has evolved over time.

The first approach uses indicators and official data to measure progress against a number of internationally agreed commitments (section 5.1). Hence, whether a trend is considered to be good progress depends primarily on the level of ambition in the original goal/target setting, which is not necessarily rooted in scientific or objective criteria.

The second approach is based on aggregate indicators of sustainable development progress that have been suggested by analysts and scientists. This approach is also primarily based on official data. The aggregate indicators differ greatly in terms of their focus, reflecting the different perspectives and values of the individual analsts that created them. This report illustrates and quantifies a progress index that is a simple and minimal adjustment to the GDP.

The third approach complements the first and the second approaches. It complements official data from surveys with highly spatially disaggregated and temporally frequent non-official data from a variety of sources such as remote sensing, mobile telecommunication devices, road traffic, and user-based crowdsourcing. The third approach has cheaper marginal costs as it uses data already available and can more easily and more quickly fill data gaps in the poorest regions, but it is technically the most demanding (section 5.3).

Measuring sustainable development requires both simple measures that inform decision-makers about major trends and issues as well as more detailed measures to support in-depth analysis. Attention should be given to the “supply side” – how statistics and related indicators can best be constructed – as well as to the “demand side” – how these indicators can be interpreted and used most appropriately. And frameworks are needed to assess sustainability at different levels – local, national, regional and global. A popular measurement approach to sustainable development is to select and enumerate a number of indicators for each of the three dimensions – economic, environmental and social.

NO. 3

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 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.

Development economics is the study of transformation of economies: transformation of agrarian and rural economies to urban and modern economies, one with dominant traditional sector to one with dominant modern sector, one with population of low skills to one with high skills and one with underdeveloped and informal markets and institutions to one with developed and formal markets and institutions. It analyzes factors constraining and inhibiting the process of structural transformation and studies policies and strategies which can facilitate such transformation.

After World War II a number of developing countries attained independence from their former colonial rulers. One of the common claims made by leaders of independence movements was that colonialism had been responsible for perpetuating low living standards in the colonies. Thus economic development after independence became an objective of policy not only because of the humanitarian desire to raise living standards but also because political promises had been made, and failure to make progress toward development would, it was feared, be interpreted as a failure of the independence movement. Developing countries in Latin America and elsewhere that had not been, or recently been, colonies took up the analogous belief that economic domination by the industrial countries had thwarted their development, and they, too, joined the quest for rapid growth.

At that early period, theorizing about development, and about policies to attain development, accepted the assumption that the policies of the industrial countries were to blame for the poverty of the developing countries. Memories of the Great Depression, when developing countries’ terms of trade had deteriorated markedly, producing sharp reductions in per capita incomes, haunted many policymakers. Finally, even in the developed countries, the Keynesian legacy attached great importance to investment.

In this milieu, it was thought that a “shortage of capital” was the cause of underdevelopment. It followed that policy should aim at an accelerated rate of investment. Since most countries with low per capita incomes were also heavily agricultural (and imported most of the manufactured goods consumed domestically), it was thought that accelerated investment in industrialization and the development of manufacturing industries to supplant imports through “import substitution” was the path to development. Moreover, there was a fundamental distrust of markets, and a major role was therefore assigned to government in allocating investments. Distrust of markets extended especially to the international economy.
Experience with development changed perceptions of the process and of the policies affecting it in important ways. Nonetheless, there are significant elements of truth in some of the earlier ideas, and it is important to understand the thinking underlying them.

NO. 4

Development economics is fascinating because it shows how economic analysis can help us to understand the big themes of the 21st century – poverty and inequality, globalisation and trade, and the contrasting experience of success and failure in the economies of different regions of the world. One of the most striking characteristics of the world economy in recent decades has been the growing inequality in the distribution of resources between different parts of the world. China, the most populous country in the world, has experienced economic growth at an unprecedented rate, and India has also made substantial progress. Meanwhile, countries in sub-Saharan Africa have stagnated, and the gap in living standards continues to widen.

Development economics attempts to explore some of the economic challenges peculiar to some of the poorest countries in the world. By studying development economics, you will have the opportunity to apply the tools of economic analysis to the problems and challenges facing less-developed countries, and to begin to understand why some countries have been able to go through a process of economic and human development whilst others have languished.

Development economics refers to the analysis of challenges and opportunities in transforming an emerging economy into a developed one. Its purpose is to help developing nations identify and overcome hurdles in economic growth, such as poverty, inequality, and market failure.
The economic analysis of a low-income country seeks to improve its fiscal, economic, and social situations. It explores several strategies and theories to develop and implement policies to put the economy on the path of development. Besides focusing on the economic growth of a developing economy, it addresses problems in the healthcare, education, and employment sectors through industrial and social infrastructure development.

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 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.
• Development economics means studying economic aspects of a low-income country, such as healthcare, education, labor conditions, and market changes.
• It further analyzes ways to improve fiscal, economic, and social conditions allowing an emerging economy to become a developed economy.
• It also helps developing countries identify and overcome hurdles in economic growth, such as poverty, inequality, and market failure.
• Development economists focus on developing methods and policies for the economic development of a poor economy. They analyze population growth, structural transformations and provide ways to achieve sustainable development.
• As stated already, it provides policymakers with an opportunity to analyze economic challenges faced by developing countries. This analysis primarily considers economic indicators
• Assess factors like education, healthcare, and employment conditions
• Promote international trade (import and export) among world nations
• Develop ways to achieve sustainable development
• Evaluate an economy, fix problems in it, and predict economic development
• Understand the economic effects of pandemics and natural disasters

NO. 5

Sauvy was making an analogy with the ‘third estate’, the commoners of pre-revolutionary France. Thus, the term implied that the Third World was exploited, as much as the third estate was exploited, and that, like the third estate, its destiny was a revolutionary one. A European man dividing the world in his own image does seem like a source for trouble, but Alfred Sauvy wasn’t the white chauvinist one might expect him to be when he coined the term in his 1952 essay “Trois mondes, une planète.” Inspired by the anti-colonial struggles and global peace building efforts, Sauvy recognized in the then largely colonized Tiers Monde a revolutionary bloc which could contest the existential struggle between the Cold War powers of the capitalist First World and the socialist Second World. This Third World, having the momentum of history, he described as “the most important” world, even being the “first in the chronology.” It was only this Third World which could replace “preparation for war” with “world hunger” as the number one global concern.

Next to the obvious demand of independence, the Third World wanted peace and development, but also dignity, recognition and planetary democracy. Importantly, Sauvy derived his term ‘Third World’ from the ‘Third Estate’ of pre-revolutionary France. The monarchy of the French Ancien Régime used to divide the general assembly into three estates: the First Estate representing the clergy, the Second Estate representing the aristocracy, and the Third Estate representing everyone else. While representing over 90% of the French population, the Third Estate would always be outvoted by the other estates which had equal electoral weight. Not accepting this systemic political farce, the ‘commoners’ of the Third Estate would turn against the Kingdom and form the National Assembly, signalling the beginning of the French Revolution.

Sauvy ends his essay claiming that “this Third World, ignored, exploited, despised like the Third Estate, also wants to be something.” This, he later stated, was not only in homage to the French Revolution, but was in fact a direct transposition of the famous lines in Emmanuel-Joseph Sieyès’ 1789 pamphlet What is the Third Estate?:

Likewise, with the process of decolonization just taking off, the Third World was still only a concept. Like the Third Estate before the French revolution, Sauvy’s ‘Third World’ was not yet really existing in the political order, but was a future projection, a positively charged potentiality of an inevitable collective uprising. Resonating Frantz Fanon, who would later in The Wretched of the Earth proclaim that the “Third World today faces Europe like a colossal mass,” Sauvy writes: Don’t you hear on the French Riviera, the cries reaching us from the other end of the Mediterranean, from Egypt or Tunisia? Do you think it is just palace revolutions or the growls of the ambitious few, in search of space? No, no, the pressure is constantly increasing in the human boiler.

Aniebonam Juliana Nneamaka
2019/244559
Economics education.
1. The objectives of Development economics is to provide access to the basic necessities of life and improve the standard of living of the people and to boost their self esteem, an individual that is unable to provide these basic necessities for themselves find it hard to participate in what others are doing because this can make a person have low self esteem. Another objective of development economics is also to expand economic and social choice available to an individual or nation, this will help an individual or nation to be free to decide what or what not to do, but when an individual or nation is bound to do something because they don’t have other choices, it means that they are not free to choose or make decisions that are conducive for them that is why this development economics is needed to help individuals/nations that are not yet developed.
2. The UN came up with a set of indices
* The human development index (HDI)— the HDI is a summary composite measure of a country’s average achievement in three basic aspect of human development: health, knowledge and standard of living. It is a measurement of a country’s average achievement in three dimensions of human development. A long and healthy life, as measured by life expectancy at birth knowledge, as measured by mean years of schooling and expected years of schooling and a decent standard of living, as measured by GNI per Capital in PPP terms. The HDI sets a minimum and a maximum for each dimensions, called”goalpost” then shows where each country stands in relation to these goalpost, the higher a country’s human development, the higher the HDI value.
* The human poverty index(HPI)— is a composite index of poverty that focuses on deprivation in human lives, aimed at measuring poverty as a failure in capabilities in multiple dimensions, in contrast to the conventional head count measure focused on low income. The HPI was introduced in the united nations development program human development report 1997 and concentrated on deprivation in basic dimensions of life. The general index allows the calculation of percentage contribution of deprivation in different dimensions and hence to identify the dimensions whose failure affect the overall deprivation. This is important from a policy perspective. We also provide an empirical illustration of the characterized indices using cross country data for the three basic dimensions and the anthropometric indicators birth weight, height of age and nourishment.
4. The study of development economics gives us the opportunity to apply economic analysis theories and practices to develop and implement policies aimed at puting a less developed economy on the path of development. It focuses on economic variables such as G.D.P, supply and demand and market rivalry .

Ihediohamma Gloria Chiamaka
Economics
2019/246443
1. Many less developed countries including Nigeria experienced continues economic growth over the years but the such growth does not have a positive reflection in the lives of the people in terms of quality of life. Seer shifted away from such believes and propounded his theory of development with emphasis on poverty, inequality and unemployment. Thus, he used three indicators which are poverty, inequality and unemployment to cement his argument.
That if these indicators are falling then that country is experiencing development but if not, they are not experiencing development. This study thus used these indicators to critically assess the Nigeria development situation. It was discovered that all, the three indicators were all increasing instead of decreasing as Seer propounded. The study recommends that the Nigeria government should provide loans to the rural areas for investment into the agricultural sector.
Government should provide entrepreneurship program to the urban youth to tackle poverty. Also, taxing policy should be made to tax the poor more to provide infrastructures to the citizens. Investment in child’s education and also invest in
These mean that true development happened when poverty is reduced or eliminated, unemployment declining and the levels of inequality is reducing. Of course, reduction in these three development indicators will in no doubt increases the well been and quality of life of a nation’s citizens.

2. Shift in the allocation of production resources determines the rewards of the factor services. It brings about an equitable distribution of income by causing resources to be allocated in right directions. It works to ration out the existing supplies of goods and services, utilizes the economy’s resources fully and provides the means for economic development and growth.

the initial levels of economic development and income inequality matter for the reduction of poverty.
We showed that the growth elasticity of poverty decreases monotonically with the initial level of development. That is to say, under the distribution neutral assumption the higher initial level of development leads to a greater reduction in poverty at a given rate of growth.

Economic growth and development generates job opportunities and hence stronger demand for labour, the main and often the sole asset of the poor. In turn, increasing employment has been crucial in delivering higher growth.

Economic development involves inequalities and unemployment thus government should as a matter of urgency create more employment opportunities in order to absorb the teeming population of the unemployed work force in the country through modernization of the agricultural sector, bring in modern equipment in the facilities of agriculture to make the sector more attractive to all citizens despite one’s qualifications and profession. More so, the study recommends that government should apply its appropriate legislative functions to discourage gender discrimination in the labour market in order to encourage females to participate actively in the labour market. Similarly, economic diversification policies should be pursued by government as a way of creating employment opportunities and promoting economic growth of the country.

3. Development is the process of expanding human freedom. It is “the enhancement of freedoms that allow people to lead lives that they have reason to live”. Hence “development requires the removal of major sources of unfreedom: poverty as well as tyranny, poor economic opportunities as well as systemic social deprivation, neglect of public facilities as well as intolerance or overactivity of repressive states”.
Freedom implies not just to do something, but the capabilities to make it happen. What people can achieve (their capabilities) is influenced by “economic opportunities, political liberties, social powers, and the enabling condition of good health, basic education, and the encouragement and cultivation of initiatives”. Sen calculates that if women in Asia and North Africa were given the same health care and attention, the world would have 100 million more women

Some see freedom as a potential disturbance to political stability and development. They recommend repressive interventions of the state in stifling liberty, initiative and enterprise, and in crippling the working of the individual agency and cooperative action. Sen attacks Singapore’s Lee Kuan Yew and his theories of Asian values which are used to justify political repression. For Sen there is no such thing as Asian values in a continent with vastly disparate populations and traditions, and containing 60 per cent of the world’s population. And as Dani Rodrik said, the economic performance of authoritarian regimes is either very good or very bad – and usually very bad. Most democracies occupy the middle ground.

4 Nowadays, the role of women in the public sector as well as in supporting the welfare of the family is gaining much more attention. The objective of this lecture is to determine the role of women in the public sector and its impact on the welfare of the family. In other words, this paper is about the role and extent of women involvement in national development process. The paper examines the contributions of women to national development using examples from the civil service. Indeed, today there are a number of women in different administrative capacity. My findings reveal that women dominate in teaching and nursing professions in the country and form more than 35% of workers in other professions. The future of the civil service, especially education and health in the country seems to depend on women. However, by a contribution of factors women could contribute more to national development if deliberate efforts are made to encourage them.

In the three arms of our government, for example, we have women making major contributions in moving Nigeria forward. We have in the legislature women councillors and local government chairpersons, elected to lead the people. Also in the National Assembly we have elected women senators andwomen House of Representative members contributing in the lawmaking process. In the executive arm of government we have some ministers who are women. In the same vein there are women special advisers and special assistants to Mr. President. Likewise in the Judiciary we have women. Not long ago, the Chief Justice of the Federation was Justice Maryam Muktar Alooma. Of course, there are women justices at state and federal levels. In addition we have women lawyers, magistrates and others serving in various capacities in the judiciary. And looking at the civil service in general, we have women permanent secretaries, directors and top civil servants working hand in hand with men. Also in various ministries and local government councils women are appointed in various positions.

In various sectors of our economy we have women employed as Doctors and Nurses including auxiliary staff contributing to our health development. That is not all; we have women in our world bodies, e.g. WHO, UNESCO, UNDP, etc playing prominent roles.

In the education sector, we have had women Vice Chancellors, women Registrars, uncountable women Professors, Senior Lecturers, teachers, administrators, all contributing to educational development of the country as part of our effort in nation building.

Don’t forget that in the security set-up, we have women as army commanders, police officers, officers in SSS (State Security Service). We have women as Customs and Immigration officers, and so on. We also have women journalists serving in the mass media: television, radio, newspapers, magazines and other communication agencies. Also there are female workers in the private sector: banks, insurance companies and other agencies. Indeed, there is hardly any public sector where women’s presence is not felt.

5. Functionings (being and doing)simply denotes those capabilities that have been achieved whether voluntarily or by chance. For example, someone might have the real freedom to vote but chooses not to do so and thus does not have the functioning of voting.
The various things a person may value and have reason to value doing or being
intuitive
intrinsically valuable to the person
intrinsic value (have reason to value)
so avoids adaptive preferences
’doings and beings’ is our focal space

Functionings allow for different interpersonal conversion factors
Resources – Capability – Functionings Utility

Bike. -Able to ide around -rode around

Food. – Able to be nourished. -nourished

6. Sustenance, i.e., Ability to Meet Basic Needs:
It is also known as “the ability to meet basic needs”. All the persons have certain basic needs which are necessary for the survival. They consist of food, shelter, health and protection. If any one of them is missing or in short supply in any economy it would represent the state of under-development. Therefore, the purpose of economic development and economic activity is to make the possible efforts whereby the helplessness and misery of the people which arises due to lack of food, shelter, health and protection could be removed. Therefore, if due to economic development the quality of life is improved, it would really represent economic development. Therefore, if per capita income increases, absolute poverty is eliminated, greater employment opportunities are created and income inequalities are lessened, such all would constitute the, necessary though not the sufficient condition of economic development. The life-sustaining basic human needs include food, shelter, health and protection. When any one of these is absent or in critically short supply, a condition of absolute “underdevelopment” exists.

Self-Esteem, i.e., to be a Person:
A second universal component of the good life is a self-esteem, a sense of worth and self-respect. It means that the other people could not use him for their own ends. It also means that each person should be given his due respect and due right. Each person is desirous of his prestige, identity and recognition, though all f such values differ from country to country and from society to society. It is being observed now a days that when the process of economic development starts in a country the inequalities in the distribution of income increase. Because of such inequality the rich class considers itself superior to the poor. In this way, the poor segment of the society suffers from inferiority complex which leads to affect their efficiency.
Therefore, economic development should aim at removing such like unhealthy social and economic situation. When the man will be considered man and he is given due place he will be able to contribute well to economic development. Moreover, in addition to such domestic situation, such an atmosphere should be created at international level that both rich and the poor countries could stand side by side. If despite remarkable growth attained by UDCs they are looked down upon by the DCs, it will not represent economic growth.
A second universal component of good life is self- esteem- a sense of worth and self-respect- of not being used as a tool by others for their own ends. Due to the significance attached to material values in developed nations, worthiness and esteem are now-a-days increasingly conferred only on countries that possess economic wealth and technological power- those that have developed.

Freedom from Servitude: i.e., to be Able to Choose:
Arthur Lewis stressed the relationship between economic growth and freedom from servitude when he concluded that “the advantage of economic growth is not that wealth increases happiness, but that it increases the range of human choice.” Wealth can enable a person to gain greater control over nature and his physical environment than they would have if they remained poor.
It also gives them the freedom to choose greater leisure. The concept of human freedom should encompass various components of political freedom, freedom of expression, political participation and equality of opportunity.

7. Mechanisms by which income affects happiness
There are two major mechanisms which explains the impact of income to our happiness – adaptation and social comparison.

Adaptation mechanism says that if you’re given a one-off increase in your income, your happiness temporarily increases – until you get used to it then you begin to aspire for more. At first, when you’re earning a meager income, your focus is on buying yourself your daily needs. As your income increases, so does your standard of living. You purchase goods of higher quality. You begin to want better products and services – a better car, a bigger house, etc. Very rarely are we satisfied with what we have, if we see that there are better things available.
In the social comparison mechanism, people evaluate their income by comparing it to other people. This is where the keeping up with the joneses mentality comes from. Here, we evaluate our happiness by how much more we have as compared to other people. Although you already have a nice house, a good car, or the latest gadgets, if your neighbor has better stuff, you will cease to be contented with what you have. And you will blame the disparity and your discontent on your income. You say to yourself, I must earn more.

Facts on How Income Affects Happiness
Here are what studies say about the link between our income and our happiness:
The happiness of people living in poverty increases when they’re given a higher income. It eases their burdens and helps them escape from poverty. But once they experience freedom from the deprivation, the link between their increased income and happiness starts to dissipate.
Richer nations tend to be happier than poorer nations. In our society, the richer people are generally happier than the poor.
In the Easterlin paradox study of 1995, despite the growth in the income in the past decades, people’s self-reported level of happiness and satisfaction didn’t improve.
In the USA, the average income increased by 300% from 1970 to 1990 but the Americans’ sense of well-being didn’t improve with the increase in their pay checks.
Amidst the significant increase in income, people have been focused on strengthening their purchasing powers rather than on personal improvement. For example, a janitor at present can be considered richer than a doctor three decades ago, but he is still a janitor.
According to Sonja Lyubomirsky, the author of The How of Happiness, the set point of your happiness level is determined by several factors, which include genetics, your individual circumstances – such as your looks, income and marital status – and by the things or activities you choose to do to make yourself happy.

8. Economic growth is the increase in goods & services produced by an economy or nation, considered for a specific period of time. The rise in the country’s output of goods and services is steady and constant and may be caused by an improvement in the quality of education, improvements in technology, or in any way if there is value addition in goods and services which is produced by every sector of the economy.
It can be measured as a percentage increase in real gross domestic product. Where a gross domestic product (GDP) is adjusted by inflation. GDP is the market value of final goods & services which is produced in an economy or nation.

Economic Development is the process focusing on both qualitative and quantitative growth of the economy. It measures all the aspects which include people in a country become wealthier, healthier, better educated, and have greater access to good quality housing. Economic Development can create more opportunities in the sectors of education, healthcare, employment, and the conservation of the environment. It indicates an increase in the per capita income of every citizen. The standard of living includes various things like safe drinking water, improve sanitation systems, medical facilities, the spread of primary education to improve literacy rate, eradication of poverty, balanced transport networks, increase in employment opportunities, etc. Quality of living standard is the major indicator of economic development. Therefore, an increase in economic development is more necessary for an economy to achieve the status of a Developed Nation.
It can be measured by the Human Development Index, which considers the literacy rates & life expectancy which affect productivity and could lead to Economic Growth.

Nigeria is a developing country.
Statistics
GDP rank -26th (nominal, 2021) 24th (PPP, 2021)
GDP growth -2.2% (2019) -3.0% (2020 est.) 1.5% (2021 est.)
GDP per capita -$2,432 (nominal, 2021 est.) $5,280 (PPP, 2021 est.)
GDP per capita rank 162nd (nominal, 2021) 172nd (PPP, 2021)

NAME:- UZOCHUKWU CHIDINMA VIVIAN.
REG NO:- 2017/250786 -(TRANSFER STUDENT).
COURSE:- ECO 361.
LECTURER:- DR TONY ORJI.

ANSWERS.

1) There is a great contrast between living standards of people inhabiting in developing countries and developed countries. People in developing countries have low income, live in poor conditions and lack access to reliable and good health and education facilities. Many people in these countries are even deprived of basic amenities of life such as food, good shelter and safe drinking water. Whereas, in the developed countries,most of them take basic amenities of life such as food, shelter, access to education and health services for granted.
a) Raising people’s living levels i.e incomes and consumption, levels of food, medical services, education through relevant growth processes.
b) Creating conditions conducive to the growth of peoples self-esteem through the establishment of social, political and economic systems and institutions which promote human dignity and respect.
c) Increasing peoples freedom to choose by enlarging the range of their choice variables e.g: varieties of goods and services.
Some economists emphasize on these factors as a means to measure development. As such that,Development thrives to make progress when these factors listed out by Michael Todaro are put in place adequately and sufficiently for the betterment of the general public/citizenry.

2) The set of indices developed by the UN Development Programme in 1990, the first human development report outlined a new approach to development, focused on people and their opportunities rather than economic growth rate. These are:-
a) The Human Development Index is statistically formulated and collaborated to compute numerous countries social and economic development levels in the United Nations. The HDI was established to focus and emphasize that individuals and their potential ought to be the final criteria for measuring the development of a country not economic growth alone.
The HDI by the UN provides a better picture of a nation’s development because it incorporates primary, social and economic factors. Also it emphasizes the importance of individuals and their ability to unleash their maximum potential. It provides a richer picture of progress than GDP, which relates to a country’s wealth or even GDP per capita which tells us something about an individual’s means but nothing about their life outcomes. Nevertheless, the HDI has its limitations which is that it omitts several factors that can have a significant influence on quality of life such as environmental degradation, industrial pollution and deforestation. But all indices have limitations. Overall, the HDI has the potential to provide a simple impression of development that can be unpacked to indicate progress with respect to the SDG’s. It can be used to complement alternative measures of development. These factors are relatively simple forms of data are very important indicators of social welfare and freedom.

b) The UN’s Human Poverty Index(HPI):- This is a composite index of poverty that focuses on deprivations in human lives aimed at measuring poverty as a failure in capabilities in multiple dimensions, in contrast to the conventional headcount measure focused on low incomes. It is developed by United Nations Development program which also publishes indices like HDI. It was considered to better reflect the extent of deprivation in deprived countries compared to the HDI. The HPI concentrates on the deprivation in the three essential elements of human life already reflected in the HDI which are:- longevity, knowledge and a decent standard of living.

3) 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 encourages the economic and social growth of low income countries and attempts to improve the conditions and wellbeing of the poorest economies by developing standards, structures and policies that help low income countries develop into modern and developed countries. Therefore, this field of economics focuses on transforming the poorest economies into the most prosperous nations of the world.

4) By studying development economics, you will have the opportunity to apply the tools of economic analysis to the problems and challenges facing less-developed countries and to begin to understand why some countries have been able to go though a process of economic and human development whilst others have languished.
Development economics attempts to explore some of the challenges peculiar to some of the poorest countries in the world. It tends to investigate and answer such questions as:-
a) To what extent does rapid population growth help or hinder development?
b) Is it necessary for economies to go through a process of structural transformation and how does this take place?
c) What is the role of education and health care provision in contributing to the process of development?
d) How important is it for countries to engage in international trade in the context of a globalising economy?
e) How can less-developed countries achieve sustainable development?
f) What effects has the HIV/AIDS epidemic have on economic and human development?

5) Alfred Sauvy referred to the “third world” as the height of the Cold War and applied it to the developing countries that remained outside the two power blocs but belonged to the non-communist world.
The term therefore implies that the third world is exploited, much as the third estate was exploited and that, like the third estate its destiny is a revolutionary one. It conveys as well as a second idea, also discussed by Sauvy, that of non-alignment, for the third world belongs neither to the industrialized capitalist world nor to the industrialized communist bloc.

REFERENCES.
Hayley Lashmar, Administrative Assistant, United Nations association – UK, 19th March, 2018. SDG ACTION.

UNITED NATIONS DEVELOPMENT PROGRAMME : Human Development Reports.

University of Bristol, Royal Economic Society, Scottish Economic society, Dr Peter Smith, University of Southampton.

NAME:OZONWU CHUKWUEBUKA SILAS
REG NO:2019/244686
EMAIL: ozonwuchukwuebuke@gmail.com
1.
Dudley Seers suggests that development is when a country experiences a reduction or elimination of poverty, inequality and unemployment.The study analyses the Dudley Seer’s theory of development on the Nigeria economy. Before the emergence of Seer’s theory, there was a general believe amongst economists that development occurred when a country has a sustained economic growth in terms of Gross Domestic Product (GDP). Many less developed countries including Nigeria experienced continues economic growth over the years but the such growth does not have a positive reflection in the lives of the people in terms of quality of life. Seer shifted away from such believes and propounded his theory of development with emphasis on poverty, inequality and unemployment. Thus, he used three indicators which are poverty, inequality and unemployment to cement his argument. That if these indicators are falling then that country is experiencing development but if not, they are not experiencing development.
2.A change process characterized by increasing productivity equalization in the distribution of the social product and the emergency of an indigenous institution whose relation without file world and particularly with developed centers of international economics are characterized by equality rather than dependence and submission. Reducing unemployment is one of the main causes of eliminating poverty and inequality. Moreover, a reduction in inequality will correspondingly reduce poverty. The classical argued that inequality is essential to generate
savings and investment and thus to promote economic growth, which savings are, of course, also affected by thevabsolute level of income, but the explanation must also lie in the high consumption levels of the rich designed to maintain standard so important in an unequal society. Similarly, the rich in most countries tend to have extremely high propensities, not merely to spend, but to spend on goods and services with high foreign exchange content, and countries suffering from an acute foreign exchange bottle neck; this is a major obstacle to development.
3.Sen does acknowledge that increases in poor people’s incomes do contribute to the expansion of their freedoms. However, he recognises that increase of income alone “has at best uneven and at worst has detrimental impacts on the majority of a country’s population, and radical redistributive measures are necessary for the poor to benefit from growth” (Selwyn 2011:69). Sen alerts the reader that poverty, unfulfilled elementary needs, the occurrence of famines, the violation of political freedoms and neglect of the agency of women remain today despite ‘unpredented opulence’ (1999). He makes it clear that previous strategies to reduce these catastrophes are erroneous. His approach focuses on human flourishing as the entry point to the problem of poverty and global inequality rather than economic growth (Reid-Henry 2012). Sen (1999) contends that all human beings are equally entitled to enjoy a life that they value. If pursuing freedom-for-all is about expanding citizens’ capabilities, the focus should not be exclusively on making up for what people lack.
Sen defines the major factors that limit freedom as ‘poverty as well as tyranny, poor economic opportunities as well as systematic social deprivation, neglect of public facilities as well as intolerance or over activity of repressive states” (Sen 1999:1). He argues for the removal of these major factors. Sen focuses on crucial instrumental freedoms: economic opportunities, political freedoms, social facilities, transparency guarantees and protective security. These, he argues, need to be interconnected. Social facilities involve institutions such as the state and the market. Sen asserts societal arrangements should be investigated “in terms of their contribution to enhancing and guaranteeing the substantive freedoms of individuals, seen as active agents of change rather than as passive recipients of dispensed benefits” (Sen 1999:xii). Social facilities should aim to provide opportunities that increase the well-being of the population.
4. Women are the set of human beings that belongs to the female gender. They play the role of mothers, caretakers in family affairs, farmers, educators, entrepreneurs, teachers, e.t.c. It is historic that women play significant roles in societal development and ensure the stability, progress, and long-term development of nations. Women also play the role of decision-makers in homes. Globally, women contribute immensely to agricultural development, comprising about 43% of the world’s agricultural labor force. In some countries, the number of women involved in the agricultural labor force increases to over 70%. Available records indicate that in Africa alone, 80% of agricultural production comes from small farmers, most of whom are rural women. It is noteworthy that agriculture is the bedrock of national development as the best approach to food security, poverty reduction, job creation, and economic stability. At home, women, notably mothers, play the role in decision-making about family meal planning and diet. Women also initiate and preserve the nutritional and healthcare programs of children at home. In addition, women are not only caring for their children at home but are also the primary caretakers of both children and elders in every country of the world. International studies indicate that women lead in finding solutions to the problems occasioned by a change of political and economic organizations in countries, thereby helping the family adjust to new realities and challenges. Indeed, women are the initiators who play important role in facilitating changes in family life. The UN Women Watch organization asserts that ” rural women play a key role in supporting their households and communities in achieving food and nutritional security, generating income, and improving rural livelihoods and overall wellbeing. As educators, the role or contribution of women to society’s transition from pre- literate to the literate period is highly significant. Basic education is key to a nation’s ability to develop and achieve sustainable policies and programs. It is evident that education helps to improve agricultural productivity, enhances the status of girls and women, stabilizes population growth rates, enhances environmental protection and, increases the standard of living. It is the mother at home who most often urges children of both genders to attend and stay in school. The role of women is at the front end of the chain of improvement, leading to the family and the community’s long term capacity.
5. This aforementioned approach straightly stresses the quality of life that people are actually ABLE TO ACHIEVE. The quality of life we’re referring is analyzed in terms of the core concepts of “FUNCTIONINGS” and “CAPABILITY”. “Capability to function” is what really matters for status as a poor or non-poor person. It stated that it is not only the potential to gain something (consumable or non-consumable) through money but rather the ability to do, make, or create something. And the concept enlightens us that money is not the most essential into development goals and achievements yet it gives emphasis to the being of people. It focuses more on people, its function, on what it can do with its characteristics rather than the wealth it possesses. Functioning is simply the state of doing, being or working. Take note that there is a significant distinction between commodities employed and functioning, to further elaborate this, examples are provided. Driving a car is distinguishable from having a car. Bicycling is distinguishable from having a bike. Capability refers to the set of VALUABLE functioning that a person has EFFECTIVE ACCESS TO. Therefore, a person’s capability symbolizes the right to exercise “EFFECTIVE FREEDOM” of people to choose between different functioning combinations- been different kinds of life, that THEY HAVE REASONS TO VALUE. This allows analysis to focus on sets of functioning related to particular aspects of life. capabilities approach offers a comprehensive perspective of development where everything revolves around enhancing people’s well-being. The concept of “capabilities to function” tells us that money is not enough because resources and goods alone do not ensure that people are able to convert them into actual doings and beings.
Through this concept, people who are liberally capable of what people are, or can be- does, or can do will vitally plays a major role into development goals and achievement. Since CAPABILITY is tied with DEVELOPMENT and ACHIEVEMENT. Let now move on to the follow up question which is “is money enough to help us gain insight into development goals and achievement? Why or why not?” Sen asks us to consider two persons with the same set of resources. Yet, one person suffers from a disability. This disability makes her unequal to the able-bodied person in two regards, which cannot be captured by a sole focus on resources. First of all, the disabled person is unequal in terms of what she can do or be with her resources compared with the physically able person. She may, for example, be confined to a wheelchair and thus restricted to places that are wheelchair-accessible. Secondly, the disabled person may even be doubly worse off because she only gets the same number of resources even though she has more expenses in order to correct for her disability. That is, because the disabled person needs to spend a considerable amount of her resources on a wheelchair merely to move around, she has fewer resources available to pursue other goals than the able- bodied person who can spend all her resources on pursuing her valued ends. Thus, in order to evaluate people’s well- being, we need to not only consider the number of resources they have, but also what they are able to do and be with those resources.
6. The three core values of development are:
1. sustenance
2.self esteem
3. Freedom
1.Sustenance this means the ability to meet the basic necessities of life which is necessary to sustain an average human being. Such basic necessities are food, shelter, good health, protection, etc. Without these basic needs, living will be impossible. When any of these is absent or in short supply, absolute underdevelopment exists. Therefore, the basic function of any society is to provide a means of overcoming the helplessness and misery arising from lack of these basic needs. To this extent, we may say that economic development is a necessary condition for the improvement in the quality of life of the people.Without sustained and continuous economic progress, the realization of the human potential would not be possible because one has to have enough in order to have more. Rising per capita income and elimination of absolute poverty, greater employment opportunities, lessening income inequalities therefore constitutes the necessary but not the sufficient condition for measuring/ determining economic growth.
2. Self-esteem this means the sense of worth and self-respect of not being used as a tool by others for their own ends. All societies seek some basic form of self-esteem which may be called identity, dignity, respect, recognition, etc. It should be noted that the level of self-esteem varies from societies to societies and from cultures to cultures. However, with proliferation of the modernizing values of developed nations, many developing countries suffer from serious cultural confusion when they come in contact with economically and technologically advanced societies.
3. Freedom from Servitude this means the ability to choose. Freedom here has to do with the sense of emancipation from undesirable conditions of life such as oppressive institutions, misery, dogmatic beliefs, etc.
7. However, there is another measure of happiness: do people evaluate their lives as satisfactory? By this definition, Deaton and Kahneman found no limit to the uses of money: extra income, at any level, was correlated with higher levels of life satisfaction. More recently, psychologists Paul Bain and Renata Bongiorno changed the focus: instead of asking how much money was enough, they invited survey participants to envisage their absolutely ideal life. Then they asked how much money would be required to achieve that life, if it came in the form of a lottery win. Those lottery prizes ranged from $10,000 (for those whose absolutely ideal life involves replacing the curtains and upholstery) to $100bn (for those whose absolutely ideal life involves a great deal of drama about buying Twitter). Most people, however, did not favour the top prize. A $10mn lottery prize was a popular choice. Why? One possibility is that nobody really has a clue how to answer the survey question, and $10mn was the central answer, a thousand times more than the minimum and a thousand times less than the maximum.
8.Economic growth means an increase in real national income / national output.
Economic development means an improvement in the quality of life and living standards, e.g. measures of literacy, life- expectancy and health care.
In terms of growth and development Nigeria has been stagnant.

No. 1
Professor Dudley Seers argues that development is about outcomes, that is development occurs with the reduction of poverty, unemployment and inequality with in a growing economy. It is true of course that both poverty and unemployment are associated in various ways with per capita income. If per capita incomes are falling, in absolute poverty can hardly be reduced much, not can unemployment. But certainly increases in per capita income are far from enough, as the experiences of petroleum economies shown, to achieve either of these objectives. The questions to ask about a coutry’s development are therefore: What has been happening to poverty? What has been happening to unemployment? What has been happening to inequality? If all these have declined from high levels then beyond doubt this has been a period of development for the country concerned.
No. 2
Inequality and poverty might interrelate, having a negative impact on economic growth. As Bui and Nguyen (2017) concluded, an inequality can destabilize institutional efficiency that spreads economic security. Economic growth estimation, including control for inequality and incomes but not poverty, might not successfully capture drawback that reduces the growth. The impact of poverty can be distinct along with the effects of inequality. Furthermore, Ravallion (2002) argued that poverty negatively impacted consumption growth, and consequently, less poverty decreases with economic growth.

No. 3
Development is the process of expanding human freedom. It is “the enhancement of freedoms that allow people to lead lives that they have reason to live”. Hence “development requires the removal of major sources of unfreedom: poverty as well as tyranny, poor economic opportunities as well as systemic social deprivation, neglect of public facilities as well as intolerance or overactivity of repressive states”.

Sen argues that there are five types of interrelated freedoms, namely, political freedom, economic facilities, social opportunities, transparency and security. The state has a role in supporting freedoms by providing public education, health care, social safety nets, good macroeconomic policies, productivity and protecting the environment.
Freedom implies not just to do something, but the capabilities to make it happen. What people can achieve (their capabilities) is influenced by “economic opportunities, political liberties, social powers, and the enabling condition of good health, basic education, and the encouragement and cultivation of initiatives”.
Moreover, freedom deficits still exist in so-called developed countries, and the situation may be moving backwards. Political freedoms are compromised by vested interest politics in the US, and oligarchic powers in Japan and much of Europe. Protectionism of large enterprises, especially in Europe and Japan, limit the economic freedom of small and medium size enterprises. Social opportunities are constrained in most countries as the rich have much better access than the poor to health and education services. Sen does us all a good service in raising the issue of cultural freedoms. The more these issues are discussed the better. But progress will require massive changes in attitudes.
More fundamentally, Sen does not address the issue of how individual freedoms should be nested into society, where we all have to forego some freedom in order to live together peace.

No. 4
Globally, women contribute immensely to agricultural development, comprising about 43% of the world’s agricultural labor force. In some countries, the number of women involved in the agricultural labor force increases to over 70%. Available records indicate that in Africa alone, 80% of agricultural production comes from small farmers, most of whom are rural women. It is noteworthy that agriculture is the bedrock of national development as the best approach to food security, poverty reduction, job creation, and economic stability.

At home, women, notably mothers, play the role in decision-making about family meal planning and diet. Women also initiate and preserve the nutritional and healthcare programs of children at home. In addition, women are not only caring for their children at home but are also the primary caretakers of both children and elders in every country of the world. International studies indicate that women lead in finding solutions to the problems occasioned by a change of political and economic organizations in countries, thereby helping the family adjust to new realities and challenges. Indeed, women are the initiators who play important role in facilitating changes in family life. The UN Women Watch organization asserts that ” rural women play a key role in supporting their households and communities in achieving food and nutritional security, generating income, and improving rural livelihoods and overall wellbeing.
As educators, the role or contribution of women to society’s transition from pre-literate to the literate period is highly significant. Basic education is key to a nation’s ability to develop and achieve sustainable policies and programs. It is evident that education helps to improve agricultural productivity, enhances the status of girls and women, stabilizes population growth rates, enhances environmental protection and, increases the standard of living. It is the mother at home who most often urges children of both genders to attend and stay in school. The role of women is at the front end of the chain of improvement, leading to the family and the community’s long term capacity.
Although women are still lagging behind men worldwide, the historic and current role of women is indisputable. Michelle Bachelet, the Under-Secretary-General and Executive Director of UN Women notes that “when women are empowered and can claim their rights and have access to land, leadership, opportunities and choices, economic growth, food security are enhanced and developmental prospects are improved for current and future generations.
The role of women as volunteers in local and international organizations for development has global collective recognition. The global Volunteers Community Development work in host countries worldwide strengthens women’s and children’s capacity and supports their sustained health and development. Under the development and direction of local leaders, women volunteers help ensure academic accessibility, foster parental involvement, offer psycho-social support, provide nutrition and health education, fund girls’ scholarships, construct schools and educate children and women through programmed extension works.

No. 5
i Being healthy
Health capability is the ability to be healthy; it integrates health functioning and health agency. Health capability helps us understand the conditions that facilitate and barriers that impede health and the ability to make healthy choices. Health capability has the effect of creating a virtuous circle; developing people’s health capability enables them to create and support the conditions for their own and other’s.

ii.Being literate
Wellbeing literacy is defined as a capability to comprehend and compose wellbeing language, across contexts, with the intention of using such language to maintain or improve the wellbeing of oneself, others or the world. Wellbeing literacy is underpinned by a capability model (i.e., what someone is able to be and do), and is based on constructivist (i.e., language shapes reality) and contextualist (i.e., words have different meanings in different contexts) epistemologies.

No. 6
Sustenance:
The life-sustaining basic human needs include food, shelter, health and protection. When any one of these is absent or in critically short supply, a condition of absolute “underdevelopment” exists.
Self-esteem:
A second universal component of good life is self- esteem- a sense of worth and self-respect- of not being used as a tool by others for their own ends. Due to the significance attached to material values in developed nations, worthiness and esteem are now-a-days increasingly conferred only on countries that possess economic wealth and technological power- those that have developed.
Now-a-days the Third World seeks development in order to gain the esteem which is denied to societies living in a state of disgraceful “underdevelopment.” … Development is legitimized as a goal because it is an important, perhaps even an indispensable, way of gaining esteem.

Freedom from Servitude:
Arthur Lewis stressed the relationship between economic growth and freedom from servitude when he concluded that “the advantage of economic growth is not that wealth increases happiness, but that it increases the range of human choice.” Wealth can enable a person to gain greater control over nature and his physical environment than they would have if they remained poor.
It also gives them the freedom to choose greater leisure. The concept of human freedom should encompass various components of political freedom, freedom of expression, political participation and equality of opportunity.
No. 7
Social scientists often recommend that measures of subjective well-being should augment the usual measures of economic prosperity, such as GDP per capita. But how can happiness be measured? Here is a preview of what the data reveals.
Surveys asking people about life satisfaction and happiness do measure subjective well-being with reasonable accuracy.
Life satisfaction and happiness vary widely both within and among countries. It only takes a glimpse at the data to see that people are distributed along a wide spectrum of happiness levels.
Richer people tend to say they are happier than poorer people; richer countries tend to have higher average happiness levels; and across time, most countries that have experienced sustained economic growth have seen increasing happiness levels. So the evidence suggests that income and life satisfaction tend to go together (which still doesn’t mean they are one and the same).
One of the earliest theories on the relationship between money and happiness was outlined by Richard Easterlin. He’s an economics professor at the University of Southern California (USA).
Professor Easterlin found that countries with higher median incomes are generally happier than countries with lower levels. In fact, he discovered that, as long as citizens have enough income to meet their basic needs, they tend to be happy.
Easterlin argued that life satisfaction rises with average income, but only up to a point. Beyond that, the marginal gain in happiness decreases. In a nutshell, the happiness-income paradox is as follows: At one point, both between and within nations, happiness varies directly with income but, over time, happiness doesn’t increase when a country’s income increases.Having more money buys satisfaction with life, but not happiness. However, low income is linked to both low emotional well-being and low evaluation of life.When people make a lot of money they feel more satisfied with the outcome of their life and less irritable, but that doesn’t mean they feel happy.
As a matter of fact, the peace of mind that comes with having one’s basic needs covered has more to do with human rights than with the scope of the feeling of happiness. Obviously, if you don’t have basic needs such as shelter or food, it’ll be extremely difficult to experience peace of mind and, thus a feeling of general happiness.
A study conducted by Elizabeth W. Dunn, Lara B. Aknin, and Michael I. Norton and published in 2008 in Science, concluded that money buys happiness, but only if it’s spent on someone else. In fact, the study discovered a direct correlation between the amount people spent on gifts for others and an increase in their feelings of accomplishment.
For a second study, the team surveyed employees at a company who’d just received profit-sharing bonuses. The amount of this bonus that workers spent on others predicted their happiness six to eight weeks later. On the other hand, the part of the bonus they spent on themselves had no effect on their happiness.
In a third study, the team gave research participants between five and 20 dollars and instructed them to spend the money on themselves or others. Then, their happiness was determined. The study found that those who spent their money on others were happier than those who didn’t.
It’s not how much you earn, but how you spend it
While researchers may have looked at this age-old question from various angles, they generally agree that happiness doesn’t depend so much on how much we earn, but on how we choose to spend it.
Therefore, can it be said that money buys happiness? Maybe, depending on how we spend it.
For instance, in your own life, you may have noticed that getting a raise or bonus didn’t make you happier in the long run. The initial euphoria quickly dissipated as you got used to the new pay.
Or, perhaps you found that buying the new smartphone or the latest gadget didn’t do much for your happiness. That doesn’t mean that it didn’t give you enjoyment, but that has nothing to do with your happiness in the medium-long term.
Keys to spending money as an investment in our well-being
Science claims that there are a few ways money can be spent that are guaranteed to give longer-lasting pleasure:
Buying more time
A UCLA study of 4,400 Americans showed that people who value time more than money are generally happier than those who don’t believe that having more time is better than having more money.
People mistakenly believe that buying things that last longer and even appreciate in value will keep them happy much longer than experiences. Nevertheless, in reality, you quickly get used to the new designer winter boots you once obsessed over. Although you might still enjoy wearing them, that initial rush of happiness you experienced in the first few weeks quickly fades.
However, a great experience like a vacation on an exotic island will remain in your memory for life. You’ll always remember those moments as a wave of pleasure. Indeed, experiences may be fleeting, but the joy they bring will last a long time. They’re the kinds of sensations and memories that can cheer you up when you’re feeling down and encourage you to organize similar experiences.
Spending on friends and family
You’ll feel greater satisfaction when you spend time and money on the people who really matter to you. After all, we’re all social animals and having healthy relationships with others is essential for our physical and mental health.
Spending money on experiences is more rewarding because you often share those good times with a spouse, friend, or family. Even going shopping together is more fun than doing it alone.
Why does it make us happy to spend money on others? Psychologists say it’s because it makes us feel good about ourselves. Giving to others enhances a loving and generous image of ourselves that makes us happy. It helps us connect more with them, and people with strong social ties are generally happier than people without.
To a certain extent, money contributes considerably to feelings of well-being. However, beyond that point, more money doesn’t necessarily translate into a happier person. Nonetheless, with conscious and correct spending, money can, indeed, buy a certain amount of happiness.
Money And Happiness Don’t Always Go Together
No. 8
Economic Development refers to an overall development of the quality of life in a nation, which includes economic growth. Increase in the volume of goods and services produced and consumed along with improved living circumstances, with equitable distribution, improved healthcare service outcomes, by making education accessible to all, by enhancing the overall quality of personal, social and professional conditions and most importantly without environmental degradation.. Economic Development refers also to a process of gradual transformation and improvement in the level of functioning of an economy.

Economic Growth refers to an increase in the monetary (income) or output growth of a nation. It is an increase in size evident through physical change.
However, since the country has failed to manage its resources properly, there has been a slow rate of growth and development for over 60 years of independence.
Following the pandemic induced recession in 2020, Nigeria’s economic growth recovered but macroeconomic stability weakened. Amidst global commodity shocks, a depreciating currency, trade restrictions, and monetization of the deficit, inflation is surging and pushing millions of Nigerians into poverty. Since 2021, Nigeria is also unable to benefit from the surging global oil prices, as oil production has fallen to historic lows and petrol subsidy continues to consume a larger share of the gross oil revenues.
In 2018, 40% of Nigerians (83 million people) lived below the poverty line, while another 25% (53 million) were vulnerable. With Nigeria’s population growth continuing to outpace poverty reduction, the number of Nigerians living in extreme poverty is set to rise by 7.7 million between 2019 and 2024.
While the economy is projected to grow at an average of 3.2% in 2022-2024, the growth outlook is subject to downside risks including further declines in oil production and heightened insecurity. Meanwhile, continued scarcity of foreign exchange and tighter liquidity could affect the economic activity in the non-oil sector and undermine the overall macroeconomic stability. The uncertainty is also expected to be accompanied by high inflation and continued fiscal and debt pressures.
While Nigeria has made some progress in socio-economic terms in recent years, its human capital development ranked 150 of 157 countries in the World Bank’s 2020 Human Capital Index. The country continues to face massive developmental challenges, including the need to reduce the dependency on oil and diversify the economy, address insufficient infrastructure, build strong and effective institutions, as well as address governance issues and public financial management systems.
Inequality, in terms of income and opportunities, remains high and has adversely affected poverty reduction. The lack of job opportunities is at the core of the high poverty levels, regional inequality, and social and political unrest. High inflation has also taken a toll on household’s welfare and high prices in 2020-2022 are likely to have pushed an additional 8 million Nigerians into poverty.

Answers:
1.Before the emergence of Seer’s theory, there was a general believe amongst economists that development occurred when a country has a sustained economic growth in terms of Gross Domestic Product (GDP). Many less developed propounded his theory of development with emphasis on poverty, inequality and unemployment. Thus, he used three indicators which are poverty, inequality and unemployment to cement his argument. That if these indicators are falling then that country is experiencing development but if not, they are not experiencing development. This propounded his theory of development with emphasis on poverty, inequality and unemployment. Thus, he used three indicators which are poverty, inequality and unemployment to cement his argument. That if these indicators are falling then that country is experiencing development but if not, they are not experiencing development.To him, if these three variables have declined over a period of time, then development has occurred for the nation concerned. But if one or two of these variables have been growing worse, especially if all three have, it would be strange to call the result “development,” even if per capita income has soared.

2. Economic development describes all involvement that makes an economy to develop as well as when output increase in terms of poverty reduction (that is all the citizens of an economy/country are living above a dollar daily)
when these happen in relation to its sustainability, we say that the poverty level will tend to reduce and if output is equally distributed or there is elimination of inequality in terms of output, the economy will tend towards development.

3. Freedom is the ultimate goal of economic development as well as most efficient means of realizing welfare, overcoming deprivation is central to development. Unfreedom includes hunger, famine, ignorance, an unsustainable economic life, unemployment, barriers to fulfilment by women by minority communities, premature death.

4.Women are known for keeping the home first, Women also play the role of decision-makers in homes women are not only caring for their children at home but are also the primary caretakers of both children and elders in every country of the world. It is very important for the nations development and ensure the stability, progress, and long-term development of nations.

5. Being able to live long: if citizens of an economy tend to live longer, it will directly boast the productivity of the economy as there will be enough manpower needed for productive activities
Being well nourished: good nourishment (not food) is very vital for the development of an economy, if citizens has the right type of nourishment it will show in their economic development
Being well clothed: the productivity of citizens of an economy can also be affected by the clothing they have on at seasons of production. i.e. wearing of light and well covered cloth in summer than wearing of thick clothing can boast productivity
Being able to take part in the life of the community.

6. Sustenance: when one has the ability to afford basic necessities. i.e. an employed salary earner who can afford his need with his income without borrowing aver a long period of time can directly affect how the economy develops.
Self-esteem: having trust in oneself can go a long way on how productivity will be attained. i.e. when one take risks and boast investment in businesses
Economic development can be reached easily.
Freedom from servitude: To be able to choose how you live in your productivity can go a long way in determining economic development
i.e. citizens that have freedom to work where their productivity is higher.

7. Income generates happiness if it is steady enough to purchase necessities. If the income earned from output is good enough for purchase and good livelihood, it will bring happiness

8.
Economic growth
This refers to increase in the monetary(income) growth of a nation in a particular period. It takes place when there is a sustained (ongoing for at least 1-2 years) increase in a country output of goods and services.
Economic development
It refers to the overall development of the quality of life in a nation which includes economic growth. It occurs when the standard of living of a large majority of the population rises, including both income and other dimensions like health and illiteracy.

Ogbonna Mmesoma Rita
Social science education/Economics
2019/243578

Answer
1: Thus, he used three indicators which are poverty, inequality and unemployment to cement his argument. That if these indicators are falling then that country is experiencing development.

4: Women are the set of human beings that belongs to the female gender. They play the role of mothers, caretakers in family affairs, farmers, educators, entrepreneurs, teachers, e.t.c. It is historic that women play significant roles in societal development and ensure the stability, progress, and long-term development of nations. Women also play the role of decision-makers in homes. Globally, women contribute immensely to agricultural development, comprising about 43% of the world’s agricultural labor force. In some countries, the number of women involved in the agricultural labor force increases to over 70%. Available records indicate that in Africa alone, 80% of agricultural production comes from small farmers, most of whom are rural women. It is noteworthy that agriculture is the bedrock of national development as the best approach to food security, poverty reduction, job creation, and economic stability.
The role of women as volunteers in local and international organizations for development has global collective recognition. The global Volunteers Community Development work in host countries worldwide strengthens women’s and children’s capacity and supports their sustained health and development. Under the development and direction of local leaders, women volunteers help ensure academic accessibility, foster parental involvement, offer psycho-social support, provide nutrition and health education, fund girls’ scholarships, construct schools and educate children and women through programmed extension works.

5: Being literate is a vital human capability that enables people to make choices in area that matter.
# Being healthy is being in good health or having or living in relationships with others to which they have real access.
# Being nourished is having been provided with or sustain with food or nutrient; supply with that is necessary for life,health and growth.
# Being mobile is if you are mobile,you can move or travel easily from place to place.

6: Sustenance(ability to meet basic needs): according to Goulet it is the ability of people to meet the basic needs without which life will be impossible. These needs includes food,shelter,health and protection without livelihood and continuous Economic progress,the realization of human potential will be much more difficult.
• Self esteem: This value talked about a sense of worth and self respect, a sense of not being used as a tool by others for their own selfish ends.self esteem is nowadays increasingly conferred only on countries and individual that posses economic wealth.especially Nigeria.
• Freedom of servitude(ability to choose): Freedom here’s should be in form of being free from alienating material condition of life and from servitude to nature, ignorance misery and logmatic beliefs, especially that poverty is predestination. To be able to make political and economic choice that does not infringe on someone’s right. Unfortunately,this does not happen in Nigeria,the citizen don’t have the ability to choose, especially their leaders during elections because of lots of anomalies such as rigging of election accompanied by such election.

7: Some scholars believes that all forms of well-being continued rising with income,your income can impact your happiness levels.they believes that financial stability helps people escape the every day hassles of life while others that disagree with the assertions believes that happiness comes from within,not from possession that can be bought. Beyond the ability to pay your bills, happiness is a state of mind that is short-lived when you base it on physical objects and members in an investment portfolio.

8: Economic growth refers to increase in monetary or output growth of a nation in a particular period,it takes place where there is sustained(ongoing for at least 1-2 years)increase in a country’s output,goods and services.
While Economic development refers to the overall development (increase)in the quality of life in a nation which includes economic growth.it occurs when the standard of living of a large majority of the population rises including both human and other dimensions like health and literacy .
# Economic growth it is a short term process while Economic development is a long term process which leads to progressive changes in a socio-Economic structure of a country.
# Economic growth is s necessary but insufficient condition for Economic development while Economic development is a necessary and sufficient condition for improvement of human welfare,raising of living standard and reduction of poverty.

In 2018, 40% of Nigerians (83 million people) lived below the poverty line, while another 25% (53 million) were vulnerable. With Nigeria’s population growth continuing to outpace poverty reduction, the number of Nigerians living in extreme poverty is set to rise by 7.7 million between 2019 and 2024.

While the economy is projected to grow at an average of 3.2% in 2022-2024, the growth outlook is subject to downside risks including further declines in oil production and heightened insecurity. Meanwhile, continued scarcity of foreign exchange and tighter liquidity could affect the economic activity in the non-oil sector and undermine the overall macroeconomic stability. The uncertainty is also expected to be accompanied by high inflation and continued fiscal and debt pressures.

Development Challenges

While Nigeria has made some progress in socio-economic terms in recent years, its human capital development ranked 150 of 157 countries in the World Bank’s 2020 Human Capital Index. The country continues to face massive developmental challenges, including the need to reduce the dependency on oil and diversify the economy, address insufficient infrastructure, build strong and effective institutions, as well as address governance issues and public financial management systems.

Inequality, in terms of income and opportunities, remains high and has adversely affected poverty reduction. The lack of job opportunities is at the core of the high poverty levels, regional inequality, and social and political unrest. High inflation has also taken a toll on household’s welfare and high prices in 2020-2022 are likely to have pushed an additional 8 million Nigerians into poverty.

1. Development is an event constituting a new stage in a changing situation. Inorder for this to take place, alot has to be put in place which wouy require time,mental energy, money and other necessities. Its evaluation must therefore take into account three linked economic criteria which are reduction in poverty, unemployment and inequality.

2. Economic development is the growth of the standard of living of a nation’s people from a low-income economy to a high-income economy, scarce resources are allocated to the unlimited want of the people, there is reduction of unemployment and equality in the allocation of scarce resource.
Economic development has to do with growth in a country’s production level etc.

3. poverty needs to be reduced for development to take place. There should be freedom from poverty, tyranny, inequality, poor economic opportunity etc. Nigeria is seen as an underdeveloped county today because of the rate at which it’s citizens are held captive by poverty and many other factors affecting economic development. Development consists of the removal of various types of unfreedoms that leave people with little choice and little opportunity of exercising their reasoned agency.

4. women play the role of mothers, affairs, farmers, educators, entrepreneurs, teachers, e.t.c. It is historic that women play significant roles in societal development and ensure the stability, progress, and long-term development of nations. Women also play the role of decision-makers in homes. Globally, women contribute immensely to agricultural development, comprising about 43% of the world’s agricultural labor force. In some countries, the number of women involved in the agricultural labor force increases to over 70%. Available records indicate that in Africa alone, 80% of agricultural production comes from small farmers, most of whom are rural women. It is noteworthy that agriculture is the bedrock of national development as the best approach to food security, poverty reduction, job creation, and economic stability.
At home, women, notably mothers, play the role in decision-making about family meal planning and diet. Women also initiate and preserve the nutritional and healthcare programs of children at home. In addition, women are not only caring for their children at home but are also the primary caretakers of both children and elders in every country of the world. International studies indicate that women lead in finding solutions to the problems occasioned by a change of political and economic organizations in countries.

5. The Capability Approach is defined by its choice of focus upon the moral significance of individuals’ capability of achieving the kind of lives they have reason to value. This distinguishes it from more established approaches to ethical evaluation, such as utilitarianism or resourcism, which focus exclusively on subjective well-being or the availability of means to the good life, respectively. A person’s capability to live a good life is defined in terms of the set of valuable ‘beings and doings’ like being in good health or having loving relationships with others to which they have real access.
The Capability Approach was first articulated by the Indian economist and philosopher Amartya Sen in the 1980s, and remains most closely associated with him. It has been employed extensively in the context of human development.

6.Sustenance. This refers to the capacity to meet basic necessities such as food, clothing, and shelter. Lack of even one of these means that a person’s life is not progressive. A country develops if its citizens have enough or more than enough for their basic necessities, there is growth of income, extreme poverty is addressed, and there is equality among members of society.

self-esteem The quality of life is good when there is respect, trust, and self-value. Each person has needs which can be achieved through the presence of respect, dignity, and a good reputation in society. A person’s worth as an individual cannot simply be measured by the ownership of material things which is often given emphasis by progressive capitalist countries such as the United States. In the Philippines, material wealth is not the only important thing but the love for one’s family, the family’s reputation, and a person’s dignity and self-esteem. A country is developed if this unique need of the people is addressed.

Freedom from Servitude. This freedom is drawn from liberation from oppressive systems in society, poverty and abuse, slavery, ignorance, and the absence of the freedom to choose one’s culture or religion. This freedom can be seen in the range of choices in a society. What is good about development is not only the joy of being free from poverty but also the availability of a wide range of choices. In general, freedom prevails if people live a comfortable life, if they have the freedom to choose their religion, to vote and to express their opinion about administration and governance, and if they enjoy equal opportunities for education and employment.

7. Money is a double edged sword,it is true that happiness has a direct core relation with higher income and it is also true that it doesn’t. Many people are living fine and happy because they have money to solve their problem but remember that the rich also cry, they also die. Despite the fact that the income of the people is increased which may make them happy, there are other factors affecting their happiness and they can be unsatisfied working condition, rich people are always insecure etc. Money doesn’t solve all issues but it’s essential.

8. Economic growth is an automatic action. It means that it happens on its own. It does not need the involvement of economic development to increase. But for economic development to increase according to quality, economic growth is compulsory to occur. This happens because economic growth is a small yet significant role that it plays in economic development. Economic growth is a uni-dimensional approach which deals with the increase in income or output of a nation while Economic development is a multi-dimensional approach that looks into the income and as well as the quality of life of the nation.
In Nigeria, While the economy is projected to grow at an average of 3.2% in 2022-2024, the growth outlook is subject to downside risks including further declines in oil production and heightened insecurity also Worldwide gross domestic product in 2021 was at about 12.259 USD per capita. GDP in Nigeria, on the other hand, reached USD 2.085 per capita, or 440.78 billion USD in the whole country. Nigeria is therefore currently ranked 30 of the major economies and last but not the least Nigeria can be classified as a Stage 3 in Rostow’s Modernization Model and Nigeria is an LDC. Nigeria can be classified as a Stage 3 because of its biggest industries, such as footwear, chemicals, cement and other construction materials, printing, ceramics, and textiles.

1. Professor Dudley Seers argues that development is about outcomes ie development occurs with the reduction and elimination of poverty, inequality and unemployment within a growing economy. Discuss
Dudley Seers suggests that development is when a country experiences a reduction or elimination of poverty, inequality and unemployment. For him it is important to look at the different diversities of individual if we seek to enhance their capabilities. To this Seers goes on to identify a number of objectives for development for developing countries:
a. That family incomes should be adequate to provide a subsistence package of food, shelter, clothing, and footwear.
b. That jobs should be available to all family heads, not only because this will ensure that distribution of income will generally achieve subsistence consumption levels, but also because a job is something without which personality cannot develop.
c. That access to education should be increased and literacy ratios raised.
d. That the populace should be given an opportunity to participate in government.
e. That national independence should be achieved in the sense that the views of other governments do not largely predetermine one’s own government’s decisions.
Seer explains that the above objectives are very crucial in determining the success of individual in actualizing the kind of life he or she may have reason to value.There is explicitly in Seers a sequent aspect to this. As progress is made towards the economic goals, that is ‘undernourishment, unemployment and inequality dwindle’.. ‘educational and political aims become increasingly important objectives of development’.
2. Apart from a rise in output, Economic Development involves changes in composition of output, shift in the allocation of productive resources, and elimination or reduction of poverty, inequalities and unemployment. Clearly discuss the above assertion.
Economic Development is programs, policies or activities that seek to improve the economic well-being and quality of life for a community. What “economic development” means to you will depend on the community you live in. Each community has its own opportunities, challenges, and priorities. Your economic development planning must include the people who live and work in the community.
Though economic development priorities vary, economic development strategies often aim for common, positive results, such as:
Creating more jobs and more job variety
Keeping businesses and getting new ones
A better quality of life
More people and businesses paying taxes
More productive use of property
Promoting your community’s assets
Making and selling more local products
Getting more skilled workers living in your community

3. In the words of Amartya Sen “Development requires the removal of major sources of unfreedom, poverty as well as tyranny, poor economic opportunities as well as systematic social deprivation neglect of public facilities as well as intolerance or over activity of repressive states. Do you agree? Explain in details
According to Send freedom is both the primary end and the principal means of development. Insofar as many of us have been critical of approaches to development that emphasize growth in Gross Domestic Product (GDP), rising personal incomes, industrialization, technological advance, or social modernization, freedom is also of important to development.
Sen gives two reasons why freedom should be the primary element of development: first, the only acceptable evaluation of human progress is primarily and ultimately enhancement of freedom; second, the achievement of development is dependent on the free agency of people. Many people will agree with the first assertion, as long as the definition of freedom is wide enough to include freedom from material or spiritual want, which it does for Sen. The second assertion is more controversial within mainstream economics and popular discourse: the reason usually given by economists to cut back on public expenditures, including education, housing, healthcare and social welfare, is that poor economies cannot afford such expenditures and that development (in terms of economic growth) must happen first and only then can societies afford to look after the social welfare of their people (for a classic version of this ‘stage’ thesis, see Rostow, 1960). Sen breaks with this orthodoxy, providing evidence that high incomes do not necessarily lead to wellbeing (for instance, in terms of life expectancy), and arguing that welfare expenditures can be a spur to rather than a drain on economic growth, especially since they are labor-intensive and since labor is so cheap in poor countries. Thus, he argues against the ‘Lee Thesis’, named for President Lee Kuan Yew of Singapore, which states that denying political and civil rights is acceptable if it promotes economic development and the general wealth of the population (Sen, 1999:15). He rightly insists that we should approach political freedoms and civil rights not through the means of eventually achieving them (GDP growth) but as a direct good in their own right. Freedom is also good because it creates growth.
4. Critically discuss the Central Role of Women in the National Development
Women play the role of mothers, caretakers in family affairs, farmers, educators, entrepreneurs, teachers, e.t.c. It is historic that women play significant roles in societal development and ensure the stability, progress, and long-term development of nations. Women also play the role of decision-makers in homes. Globally, women contribute immensely to agricultural development, comprising about 43% of the world’s agricultural labor force. In some countries, the number of women involved in the agricultural labor force increases to over 70%. Available records indicate that in Africa alone, 80% of agricultural production comes from small farmers, most of whom are rural women. It is noteworthy that agriculture is the bedrock of national development as the best approach to food security, poverty reduction, job creation, and economic stability.

At home, women, notably mothers, play the role in decision-making about family meal planning and diet. Women also initiate and preserve the nutritional and healthcare programs of children at home. In addition, women are not only caring for their children at home but are also the primary caretakers of both children and elders in every country of the world. International studies indicate that women lead in finding solutions to the problems occasioned by a change of political and economic organizations in countries, thereby helping the family adjust to new realities and challenges. Indeed, women are the initiators who play important role in facilitating changes in family life. The UN Women Watch organization asserts that ” rural women play a key role in supporting their households and communities in achieving food and nutritional security, generating income, and improving rural livelihoods and overall wellbeing.

As educators, the role or contribution of women to society’s transition from pre-literate to the literate period is highly significant. Basic education is key to a nation’s ability to develop and achieve sustainable policies and programs. It is evident that education helps to improve agricultural productivity, enhances the status of girls and women, stabilizes population growth rates, enhances environmental protection and, increases the standard of living. It is the mother at home who most often urges children of both genders to attend and stay in school. The role of women is at the front end of the chain of improvement, leading to the family and the community’s long term capacity.
The role of women in providing an improved and sustainable workforce is also significant and exciting. The women’s share of the global workforce is about 45.5%. Women’s formal and informal labor can transform a community from a relatively autonomous society to a participant in the national economy. It is obvious that despite the cultural, social, and political setbacks of women, small businesses controlled by women in rural communities are not only extending beyond family lifelines but can also form a networked economic foundation for future generations. The role of women in the urban and rural workforce has expanded greatly in recent times.

5. Clearly discuss some Important “Beings” and “Doings” in Capability to Function
The Capability Approach is defined by its choice of focus upon the moral significance of individuals’ capability of achieving the kind of lives they have reason to value. This distinguishes it from more established approaches to ethical evaluation, such as utilitarianism or resourcism, which focus exclusively on subjective well-being or the availability of means to the good life, respectively. A person’s capability to live a good life is defined in terms of the set of valuable ‘beings and doings’ like being in good health or having loving relationships with others to which they have real access.
6. Discuss the three Core Values of Development with relevant example
There are three main basic components or core values that serve as a conceptual basis and practical guidelines for understanding the inner meaning of development. These core values are;

Sustenance
Self-esteem and
Freedom
These core values relate to the fundamental human needs and also represents common goals sort by all individuals and societies.

Sustenance this means the ability to meet the basic necessities of life which is necessary to sustain an average human being. Such basic necessities are food, shelter, good health, protection, etc. Without these basic needs, living will be impossible. When any of these is absent or in short supply, absolute underdevelopment exists. Therefore, the basic function of any society is to provide a means of overcoming the helplessness and misery arising from lack of these basic needs. To this extent, we may say that economic development is a necessary condition for the improvement in the quality of life of the people.Without sustained and continuous economic progress, the realization of the human potential would not be possible because one has to have enough in order to have more. Rising per capita income and elimination of absolute poverty, greater employment opportunities, lessening income inequalities therefore constitutes the necessary but not the sufficient condition for measuring/ determining economic growth.

Self-esteem this means the sense of worth and self-respect of not being used as a tool by others for their own ends. All societies seek some basic form of self-esteem which may be called identity, dignity, respect, recognition, etc. It should be noted that the level of self-esteem varies from societies to societies and from cultures to cultures.

However, with proliferation of the modernizing values of developed nations, many developing countries suffer from serious cultural confusion when they come in contact with economically and technologically advanced societies.
Freedom from Servitude this means the ability to choose. Freedom here has to do with the sense of emancipation from undesirable conditions of life such as oppressive institutions, misery, dogmatic beliefs, etc.
7. Some scholars have argued that happiness has a direct correlation with more income while others disagree with the assertion.
While most people believe that having more income would make them happier, some researchers have found that the link is greatly exaggerated and mostly an illusion.
People surveyed about their own happiness and that of others with varying incomes tended to overstate the impact of income on well-being, according to a new study. Although income is widely assumed to be a good measure of well-being, the researchers found that its role is less significant than predicted and that people with higher incomes do not necessarily spend more time in more enjoyable ways. For those that disagreed, “The belief that high income is associated with good mood is widespread but mostly illusory,” People with above-average income are relatively satisfied with their lives but are barely happier than others in moment-to-moment experience, tend to be more tense, and do not spend more time in particularly enjoyable activities. While to those that agreed with the assertion, Financial stability helps people escape the everyday hassles of life, When we wonder whether money can buy happiness, we may consider the luxuries it provides, like expensive dinners and lavish vacations. But cash is key in another important way: It helps people avoid many of the day-to-day hassles that cause stress, new research shows. Money can provide calm and control, allowing us to buy our way out of unforeseen bumps in the road, whether it’s a small nuisance, like dodging a rainstorm by ordering up an Uber, or a bigger worry, like handling an unexpected hospital bills.

8. Distinguish between Economic Growth and Economic Development and tell us where we are currently as a nation in terms of growth and development.
The differences between Economic growth and Economic development are:
Economic Growth is the positive change in the indicators of economy. While Economic development is the quantitative and qualitative change in an economy.
Economic Growth refers to the increment in amount of goods and services produced by an economy. Whereas Economic development refers to the reduction and elimination of poverty, unemployment and inequality with the context of growing economy.
Economic growth means an increase in real national income / national output. While Economic development means an improvement in the quality of life and living standards, e.g. measures of literacy, life-expectancy and health care.
Economic growth refers to an increase over time in a country’s real output of goods and services (GNP) or real output per capita income. While Economic development includes process and policies by which a country improves the social, economic and political well-being of its people.
Economic growth focuses on production of goods and services. While Economic development focuses on distribution of resources.
Economic growth relates a gradual increase in one of the components of GDP; consumption, government spending, investment or net exports. Whereas Economic development relates to growth of human capital indexes and decrease in inequality.It is concerned with how people are affected.

Economic growth is single dimensional in nature as it only focuses on income of the people. Economic development is multi-dimensional in nature as it focuses on both income and improvement of living standards of the people.
Economic Growth is the precursor and prerequisite for economic development. It is the subset of economic development. While Economic development comes after economic growth. It is a positive impact of economic growth.
Indicators of economic growth are: GDP, GNI, Per capita income
While the Indicators of economic development are: Human Development Index (HDI), Human Poverty Index (HPI), Gini Coefficient, Gender Development Index (GDI), Balance of trade and Physical Quality of Life Index (PQLI)
Nigeria’s output growth is at 3.4 percent in 2022 which marked the seventh consecutive quarter of growth driven by various services sectors, especially information technology, trade, and finance. Oil production has been on the decline since mid-2020, reflecting low investment and significant leakages associated with poor maintenance and theft. There’s a hike in prices of goods and services today because of fall in value of our currency in the international market. We’re among the underdeveloped countries in the world.

1. Development is an event constituting a new stage in a changing situation. Inorder for this to take place, alot has to be put in place which wouy require time,mental energy, money and other necessities. For a growing economy that needs development in different sectors, there should be creation of Jobs which will later lead to employment there by leading to a reduction in poverty,by in such situations there shouldn’t be inequality is order for proper balance to be carried on.

2. Economic Development is programs, policies or activities that seek to improve the economic well-being and quality of life for a community. The end goals of this policies is to bring a positive change in the composition of output, shift in the allocation of productive resources elimination or reduction of poverty and a reduction in inequalities and unemployment.
These policies are aimed towards making this possible

3.Yes I agree
If we take a look at the U.S economy we would discover that the run a federalism system
Which means that the state submit allocations the federal government
Which means that in order for each state to have a substantial economy the must work hard,this also creates a positive competition among states. This system has given the citizens of the state freedom to express their ideas, allowing men to chase their dreams and aim for the stars.

4. women play the role of mothers, affairs, farmers, educators, entrepreneurs, teachers, e.t.c. It is historic that women play significant roles in societal development and ensure the stability, progress, and long-term development of nations. Women also play the role of decision-makers in homes. Globally, women contribute immensely to agricultural development, comprising about 43% of the world’s agricultural labor force. In some countries, the number of women involved in the agricultural labor force increases to over 70%. Available records indicate that in Africa alone, 80% of agricultural production comes from small farmers, most of whom are rural women. It is noteworthy that agriculture is the bedrock of national development as the best approach to food security, poverty reduction, job creation, and economic stability.
At home, women, notably mothers, play the role in decision-making about family meal planning and diet. Women also initiate and preserve the nutritional and healthcare programs of children at home. In addition, women are not only caring for their children at home but are also the primary caretakers of both children and elders in every country of the world. International studies indicate that women lead in finding solutions to the problems occasioned by a change of political and economic organizations in countries.

5. The Capability Approach is defined by its choice of focus upon the moral significance of individuals’ capability of achieving the kind of lives they have reason to value. This distinguishes it from more established approaches to ethical evaluation, such as utilitarianism or resourcism, which focus exclusively on subjective well-being or the availability of means to the good life, respectively. A person’s capability to live a good life is defined in terms of the set of valuable ‘beings and doings’ like being in good health or having loving relationships with others to which they have real access.
The Capability Approach was first articulated by the Indian economist and philosopher Amartya Sen in the 1980s, and remains most closely associated with him. It has been employed extensively in the context of human development.

6.Sustenance. This refers to the capacity to meet basic necessities such as food, clothing, and shelter. Lack of even one of these means that a person’s life is not progressive. A country develops if its citizens have enough or more than enough for their basic necessities, there is growth of income, extreme poverty is addressed, and there is equality among members of society.

self-esteem The quality of life is good when there is respect, trust, and self-value. Each person has needs which can be achieved through the presence of respect, dignity, and a good reputation in society. A person’s worth as an individual cannot simply be measured by the ownership of material things which is often given emphasis by progressive capitalist countries such as the United States. In the Philippines, material wealth is not the only important thing but the love for one’s family, the family’s reputation, and a person’s dignity and self-esteem. A country is developed if this unique need of the people is addressed.

Freedom from Servitude. This freedom is drawn from liberation from oppressive systems in society, poverty and abuse, slavery, ignorance, and the absence of the freedom to choose one’s culture or religion. This freedom can be seen in the range of choices in a society. What is good about development is not only the joy of being free from poverty but also the availability of a wide range of choices. In general, freedom prevails if people live a comfortable life, if they have the freedom to choose their religion, to vote and to express their opinion about administration and governance, and if they enjoy equal opportunities for education and employment.

7. it is true that happiness has a direct core relation with higher income and it is also true that it does that. Many be are living fine and happy because they have money to solve their problem but remember that the rich also cry, they also die. Despite the fact that the income of the people is increased which may make them happy, there are other factors affecting their happiness and they can be unsatisfied working condition, rich people are always insecure etc.

8. Economic growth is an automatic action. It means that it happens on its own. It does not need the involvement of economic development to increase. But for economic development to increase according to quality, economic growth is compulsory to occur. This happens because economic growth is a small yet significant role that it plays in economic development. Economic growth is a uni-dimensional approach which deals with the increase in income or output of a nation while Economic development is a multi-dimensional approach that looks into the income and as well as the quality of life of the nation.
In Nigeria, While the economy is projected to grow at an average of 3.2% in 2022-2024, the growth outlook is subject to downside risks including further declines in oil production and heightened insecurity also Worldwide gross domestic product in 2021 was at about 12.259 USD per capita. GDP in Nigeria, on the other hand, reached USD 2.085 per capita, or 440.78 billion USD in the whole country. Nigeria is therefore currently ranked 30 of the major economies and last but not the least Nigeria can be classified as a Stage 3 in Rostow’s Modernization Model and Nigeria is an LDC. Nigeria can be classified as a Stage 3 because of its biggest industries, such as footwear, chemicals, cement and other construction materials, printing, ceramics, and textiles.

AMAECHI EMMANUELLA ATHANASIUS
2019/242299
Economics Education

ANSWER:
1. Economic growth is the most powerful instrument for reducing poverty and improving the quality of life in developing countries.it makes sense that poverty rates are related to the overall health of the economy. As the economy grows, so do opportunities for employment and growth. stronger labor markets and higher income levels tend to help families living in poverty move above the poverty threshold. while availability of work opportunity helps to eliminate unemployment and inequality within a growing economy.

2. i Economic Development involves changes in composition of output. public expenditure improve economic growth by increasing productive capacity, as well as, gross product of the local economy in critical economy sectors. nonetheless, increased public expenditures will also lead to inflation and reduce government budget,thereby inflicting detrimental influence on the economy.
ii. Economic Development involves shift in the allocation of productive resources. productivity is the key aspect of economic growth. However, it is also important to choose what should be produced with the growing importance of taking into account the issue of ecology, care for the protection of the natural environment.

3. I agree with the words of Amartya Sen “Development requires the removal of major sources of unfreedom, poverty as well as tyranny, poor economic opportunities as well as systematic social deprivation neglect of public facilities as well as intolerance or over activity of repressive states. The high rate of poverty as well as tyranny in the economy, keeps the economy stagnant and also poor economic opportunities. poor economic opportunities in-terms of job or unemployment opportunities,poor economic rejuvenation, leads to under or un-development in the economy.

4.They play the role of mothers, caretakers in family affairs, farmers, educators, entrepreneurs, teachers, e.t.c. It is historic that women play significant roles in societal development and ensure the stability, progress, and long-term development of nations. Women also play the role of decision-makers in homes.

5.capabilities approach is a normative approach to human welfare that concentrates on the actual capability of person to achieve lives they value rather than solely having a right or freedom to do so. capability is a possibility of a person in a deeply poverty-stricken area to find employment and support a family. However, such a possibility may not be real considering external circumstance for example, no food, clothing or shelter.

6. There are three core values of development: (i) sustenance, (ii) self- esteem, and (iii) freedom. Sustenance: Sustenance is the ability to meet basic needs of people. All people have certain basic needs without which life would be impossible. These basic needs include food, shelter, health, and protection.
Sustenance: Sustenance is the ability to meet basic needs of people. All people have certain basic needs without which life would be impossible. These basic needs include food, shelter, health, and protection. People should have access to these basic needs.
Self-Esteem: Sense of worth and self-respect and feeling of not being marginalized are extremely important for individual’s well being. All peoples and societies seek some form of self-esteem (identity, dignity, respect, honor etc.). The nature and form of self-esteem may vary from on culture to another and from time to time. Self-esteem may be based on material values: higher income or wealth may be equated with higher worthiness. One may consider individuals worthy based on their intellect or public service.
Freedom from Servitude: Human freedom, the ability to choose, is essential for the well being of individuals. Freedom involves an expanded range of choices for societies: economic and political. It involves freedom from bondage, serfdom, and other exploitative economic, social, and political relationships.

7. happiness has a direct correlation with more income, cause looking the society and the economy standard of the society, we cant possibly do anything nowadays without money. so when our happiness is derived from things that cost us money. So therefore, our happiness is deprived from how much we earn or how much income we generate,to fulfill our desire want (our happiness). So, the more income we earn the more we can satisfy that desire want (our happiness).

8.Economic growth is an increase in the production of goods and services in an economy. Increases in capital goods, labor force, technology, and human capital can all contribute to economic growth. while
Economic Development is programs, policies or activities that seek to improve the economic well-being and quality of life for a community. What “economic development” means to you will depend on the community you live in. Each community has its own opportunities, challenges, and priorities.
we are where we are as a nation,in terms of growth and development, as result of the greedy and selfish desire which has kept the nation in perpetual economical want. The greedy selfish desire of our leaders has cause lack of adequate production of goods and services in an economy, availability of technology for production, and also their inability to create more jobs opportunity.

Gabriels Sharon Chisom
2019/241572
Sharongabriels123@gmail.com

1- Professor Dudley Seers argues that development is about outcomes i.e development occurs with the reduction and elimination of poverty, inequality and unemployment within a growing economy. He argues this because according to his speculations, these are indicators of development in an economy. A developing economy reduces or completely eliminates poverty among majority of the population living in the nation, they are able to afford the basic necessities needed to live healthy lives. Also, there are available jobs for all those who are willing and able to work, the rate of unemployment is significantly reduced or completely eliminated. All these are indicators that show an increase in the quality of life of those living within the economy of a nation. When these indicators are present, we can agree that development occurs in the economy.

2- Economic Development involves changes in
a) composition of output: the type of output should be considered when a nation seeks development
.
b) shift in the allocation of productive resources: for development to occur, productive resources are allocated for their best possible use. This increases efficiency thereby resulting in development
c) elimination or reduction of poverty, inequalities and unemployment:
Poverty and economic inequality must be reduced or totally eliminated. Government should invest in nation building projects that would create employment opportunities for its citizens. These would cause an increase in the incomes of the working class people and also increase the quality of their lives

3- I agree with the words of Amartya Sen and which says that “Development requires the removal of major sources of unfreedom, poverty as well as tyranny, poor economic opportunities as well as systematic social deprivation neglect of public facilities as well as intolerance or over activity of repressive states”. Explaining the situation of removing unfreedom, development in an economy should expand the freedom that people enjoy. These unfreedom leaves people with little choices or opportunities that affect ability to live lives that they value.
If a nation wants to be developed, it has to include the factor of good leadership because leaders play a major role in policy making decision which control the rate at which a nation develops. Bad leadership significantly slows down the development process of a country. These are the few things among the many that must be eliminated.

4- women play major roles in national development when they are educated and invested in. Their ideas would cause the establishment of new businesses which would lead to an increase in employment rate, thereby increasing the per capita income of the populations where they reside. Also, empowering women would have a rippling effect because these women would empower other women who would go on to empower other women, thereby resulting in economic development.

5- Being well-nourished : the ability to have access to good food and nutrition in an economy or nation.
Being healthy – to have access to health and healthcare facilities in a nation 
Being literate – to have access to education and educational tools in a nation
Being well-clothed – to have access to the right clothing’s suitable for the right weather conditions in an economy

6- The three core values of development are; sustenance which is the ability to meet basic needs, self-esteem which is being a person and freedom from servitude which is being able to choose.

7- I agree with the assertion that happiness has a direct correlation with more income because an increase in income leads to an increase in purchasing power. The increase in purchasing power would result In solving financial problems that might have led to depression or stress. Also, when an individual the ability to provide more of their basic needs such as food, it improves their mood. To refer to the popular saying that, a hungry man is an angry man is to conclude that a well fed man is a happy man.

8- There are multiple differences between economic growth and economic development . To begin, let us define economy growth. Economic growth is an increase in the output level or monetary income of a nation while economic development is an increase in the standard of living of a greater population in a nation. Economic growth is a unidimensional approach which deals with the increase in income or output but unlike economic growth, Economic Development uses a multidimensional approach that includes income as well as the quality of life of the population in a nation. In addition, the indicators of economic growth are GDP, GNP, GNI etc. While the indicators of economic development are industrial developments, standard of living, Human development indicators. To round up, it is important to note that economic growth is a short term process while economic development is a long term process.
As a nation, we currently experience significant economic growth, which is an increase in our output but the level of economic development remains unchanged. The quality of life of the Nigerian people doesn’t seem to improve if anything else, it’s deteriorating. It’s a situation that should be looked into and corrected.

                      Eco 361
       DEVELOPMENT ECONOMICS.
1)  Prof Dudley seer argues that development is about outcomes ie development occurs with the reduction and elimination of poverty, inequality and unemployment within a growing economy.
Seer suggested that family incomes should be adequate to provide a subsistence package of food,shelter,clothing and footwear.
That jobs should be available to all family heads,not only because this will Ensure that distribution of income will generally achieve subsistence consumption levels.
That Access to Education should be increased and development literacy ratio raised.and also the populace should be given an opportunity to participate in government.
2)     Apart from a rise in output, Economic Development involves changes in composition of output, shift in the allocation of productive resources and elimination or reduction of poverty, and inequality and unemployment.

   Economic development also involves creating job opportunities,stronger demand for labour.
Economic development is fundamentally Expanding the substantive freedoms that people value and these freedoms are strongly associated with improvement in general living standards,such as greater opportunities for people to become healthier and live longer.
Economic development generates Virtuous Circle of prosperity and opportunity,strong growth and Employment opportunities improve incentives for families to invest I. Education by sending their children to school.
3)  in the words of Amartya Sen ” Development requires the removal of major sources of freedom,poverty as well as tyranny,poor Economic opportunity as well as systematic social deprivation neglect of public facilities as well as intolerance or over activity of repressive states.
(Yes) I would  agree with him because Development is not solely centered on the welfare of the Economy, as individuals also need to develop.
And if there is no removal of unfreedom,it restrain individuals to move about to acquire higher levels of Education,high income and good wage rate.
And so the removal of Major sources of Unfreedom,poverty,as well as tyranny,poor Economic opportunities as well as systematic social deprivation neglect of public facilities as  well as intolerance or over activity or repressive states is necessary for the Economy to Develop.
4)     Critically Discuss the Role of Women in National Development.
       They play the role of mothers,caretakers,in family affairs l,farmers,Educators,Entrepreneurs,Teachers. Women play significant roles in societal development and ensure the stability progress and long term development of nations.
Globally women. Contribute immensely to 
agricultural development Comprising about 43% of the world’s labor force.
As Educators the role or contribution of Women to society’s transition from pre-literate to the literate period is highly significant.
Basic Education is key to a nation’s ability to develop and achieve sustainable policies and programs.it is Evident that Education helps to improve Agricultural output.
The role of Women is at the front end of the chain of improvement,leading to the family and community long term capacity.
5)   Clearly Discuss some important “beings ” and  “Doings” Capability to function.
Capability to function refers to a person’s set of achievable functioning vectors.
Accordingto sen,people’s well-being depends upon what they are actually Capable of doing and being.
“Beings” and “Doings” Capability to function is about the  achievements of Valuable functioning,which are multiple aspects of a person’s life,what the person is and does.and is Based on an individuals resources,monetary, and non monetary Constraints,as well as the individuals Preferences over Different life Goals,the individual will select and reach a certain amount of functioning achievements.
6)  Discuss the three  core values of Development .
A)        Sustenance
Sustenance is the ability to meet basic needs of people,All people have certain basic needs without which life would be impossible the Basic needs include food,shelter.

      Prt 2.
Self -Esteem
Freedom from servitude.
Self-esteem.
A second universal component of good life is self- esteem- a sense of worth and self-respect- of not being used as a tool by others for their own ends. Due to the significance attached to material values in developed nations, worthiness and esteem are now-a-days increasingly conferred only on countries that possess economic wealth and technological power- those that have developed.
        Freedom from servitude.
Arthur Lewis stressed the relationship between economic growth and freedom from servitude when he concluded that “the advantage of economic growth is not that wealth increases happiness, but that it increases the range of human choice.” Wealth can enable a person to gain greater control over nature and his physical environment than they would have if they remained poor.

It also gives them the freedom to choose greater leisure. The concept of human freedom should encompass various components of political freedom, freedom of expression, political participation and equality
 
7)    some scholars have argued that happiness has a direct correlation with more income while others disagree with the assertion.
I would say “YES” To an extent.Happiness do have a direct correlation with higher income.
   

 8)  Economic growth means an increase in real national income / national output. Economic development means an improvement in the quality of life and living standards, e.g. measures of literacy, life-expectancy and health care.

Okarfor Charles chidozie
2019/248121
Combined social science
Economic/political sciences
300l

Answers
(1 )Before Dudley Seer propounded his
theory of development, many economists
believed that development is achieved when
a country’s Gross Domestic Product (GDP)
grows at 5% to 7% above and the increases
are sustained over a long period of time.
They believed that when such increases
occurred, then that country has achieved
development. To them, development was
based mainly on material increase. Also, it
was believed that economic development is
achieved when there is a change in the
structure of production and employment so
that the share of agriculture in GDP and in
employment declines, while that of
manufacturing and services increases. These
believe made development economists to
focus more on industrialization at the
expense of agriculture (Todaro & Smith,
2006). Based on the believe, many
developing countries in the 1960s and 1970s
experienced increased in their Gross
Domestic Product but the general levels of
living of the masses remained unchanged.
That is, the increases in growth (GDP) do
not have any direct effect on quality of life
of the people.
The section tends to examine and analyze
the three development indicators as
propounded by Dudley Seer and relate it to
the present situation concerning Nigeria’s
Development.

i. Poverty – The United Nations – UN
(1995) defined poverty in absolute and
relative term. They examined absolute
poverty as a state made up by serious denial
of basic human needs including food,
shelter, safe drinking water, sanitation
facilities, health, education and information.
To them, absolute poverty does not depend
only on income but also on access to life.
Relative poverty was defined by the UN in
terms of minimum acceptable standard of
living within a society in which a particular
person lives.

ii. Inequality: The United Nations defined
inequality as the state of not being equal,
especially in status, rights and opportunities
(UN, 2015). Development theory was
concern with inequalities in standard of
living, such as inequalities in
income/wealth, education, health and
nutrition. Nigeria is Africa’s largest
economy, yet inequality has reached
extreme level that the country’s five richestmen worth $29.9 billion could end extreme
poverty at national level, yet a lot are facing
hunger Oxfam report (2017). Nigeria’
economy has been growing in terms of GDP
but without creating adequate opportunities
for the broader population. Resources are
unevenly distributed, resulting in persistent
inequalities.

iii. Unemployment: The International
Labor Organization (ILO) defined
unemployment as all persons of working
age (15 years and above) who were not in
employment but are engaging seeking
employment during a particular period and
were currently available to take up
employment given a job opportunity. The
United States Bureau of Labor Statistics
defined unemployment as person (s) who do
not have job, have actively looked for work
in the prior 4 weeks, and are currently
available for work. Rate of unemployment
is the number of people actively looking for
job as a percentage of the labor force. The
rate of unemployment in Nigeria especially
among the active labor force (youth) is very
alarming. According to the Nigeria National
Bureau of Statistics (2019) report, youth
unemployment rate averaged 23.63% from
2014 until it reaches an all time high of 38%
in the 2nd quarter of 2018. During the 3rd
quarter of 2018, the unemployment rate was
39.7% which is the combination of 23.1%
unemployment rate and 16.6%
underemployment rate. The Bureau
projected that if the rising trend of
unemployment is not urgently curtailed, the
unemployment rate will reach 33.5% by
2020.
(2)In a country’s economic development the role of economic factors is decisive. The stock of capital and the rate of capital accumulation in most cases settle the question whether at a juven point of time a country will grow or not. There are a few other economic factors which also have some bearing on development but their importance is hardly comparable to that of capital formation. The surplus of foodgrains output available to support urban population, foreign trade conditions and the nature of economic system are some such factors whose role in economic development has to be analyzed.
Economists generally agree that economic development and growth are influenced by four factors: human resources, physical capital, natural resources and technology.
3) I would agree to this assertion because,Development as Freedom is Amartya Sen’s first book after receiving the Nobel and the most widely read of all of his works. Based on the author’s World Bank Fellow Lectures in 1996, this descriptive, non-technical overview of welfare economics argues that ‘development’ should be viewed not in terms of economic measures (e.g. GDP growth, average annual income) but in terms of the real ‘freedoms’ that people can enjoy such as economic facilities and social opportunities. Sen describes human freedom as both the primary end objective and the principle means of development; economic measures are merely the means to this end.
4)Globally, women contribute immensely to agricultural development, comprising about 43% of the world’s agricultural labor force. In some countries, the number of women involved in the agricultural labor force increases to over 70%. Available records indicate that in Africa alone, 80% of agricultural production comes from small farmers, most of whom are rural women. It is noteworthy that agriculture is the bedrock of national development as the best approach to food security, poverty reduction, job creation, and economic stability.

At home, women, notably mothers, play the role in decision-making about family meal planning and diet. Women also initiate and preserve the nutritional and healthcare programs of children at home. In addition, women are not only caring for their children at home but are also the primary caretakers of both children and elders in every country of the world. International studies indicate that women lead in finding solutions to the problems occasioned by a change of political and economic organizations in countries, thereby helping the family adjust to new realities and challenges. Indeed, women are the initiators who play important role in facilitating changes in family life.
5)As educators, the role or contribution of women to society’s transition from pre-literate to the literate period is highly significant. Basic education is key to a nation’s ability to develop and achieve sustainable policies and programs. It is evident that education helps to improve agricultural productivity, enhances the status of girls and women, stabilizes population growth rates, enhances environmental protection and, increases the standard of living. It is the mother at home who most often urges children of both genders to attend and stay in school. The role of women is at the front end of the chain of improvement, leading to the family and the community’s long term capacity.
The role of women in providing an improved and sustainable workforce is also significant and exciting. The women’s share of the global workforce is about 45.5%.
6)Sustenance
Sustenance refers to the basic needs of a human being without which survival would not be possible. These needs include food, shelter, security and good health. Shortage of any of these necessities implies a situation of severe underdevelopment of the economy. Development, therefore, must lead to the reduction of these shortages and fulfil these basic needs of the population. The benefits of growth must be accompanied by a reduction in this absolute poverty situation. As a result, improvement in the quality of overall life in an economy is bound to occur.

Self-esteem
Every individual is entitled to a sense of self-worth or self-respect. Although the nature of self-esteem may change with society or the economy, the basic idea remains the same. All people have the right to a life of dignity and honour. Respect, however, is often attached to wealth and the underdevelopment of an economy can be a burden on people’s self-esteem. Hence to promote self-worth, development must be spread across the whole economy and not just certain sections within it.

Freedom
Freedom refers to not just freedom from servitude, but also from discrimination, oppressive beliefs and practices. Equal opportunity and freedom in every aspect of the social, legal, cultural and political situation are necessary for every individual. Everyone must be free to choose and have control over their own life and actions. Growth without freedom has been observed in many nations, which defeats the purpose of development.
>Money reduces intense stress: There was no significant difference in how often the participants experienced distressing events—no matter their income, they recorded a similar number of daily frustrations. But those with higher incomes experienced less negative intensity from those events.

>More money brings greater control: Those with higher incomes felt they had more control over negative events and that control reduced their stress. People with ample incomes felt more agency to deal with whatever hassles may arise.

>Higher incomes lead to higher life satisfaction: People with higher incomes were generally more satisfied with their lives.
“It’s not that rich people don’t have problems,” Jachimowicz says, “but having money allows you to fix problems and resolve them more quickly.”
8)The term economic growth is defined as the process whereby the country’s real
national and per capita income increases over a long period of time.
This definition of economic growth consists of the following features of economic
growth:
Economic Growth implies a process of increase in National Income and
Per-Capita Income. The increase in Per-Capita income is the better measure
of Economic Growth since it reflects increase in the improvement of living
standards of masses.

Economic Growth is measured by increase in real National Income and
not just the increase in money income or the nominal national income. In
other words the increase should be in terms of increase of output of goods and
services, and not due to a mere increase in the market prices of existing goods.

Increase in Real Income should be Over a Long Period: The increase of real
national income and per-capita income should be sustained over a long period
of time. The short-run seasonal or temporary increases in income should not
be confused with economic growth.

Increase in income should be based on Increase in Productive Capacity:
Increase in Income can be sustained only when this increase results from some
durable increase in productive capacity of the economy like modernization or
use of new technology in production, strengthening of infrastructure like
transport network, improved electricity generation etc.

While on the other hand,Sustainable development is development that meets the needs of the present
without compromising the ability of future generations to meet their own needs.
Sustainable development includes the protection of future economic growth and
future development. In other words, it means a better quality of life for everyone,
now and for generations to come.Sustainable development includes the protection
of future economic growth and future development. Growth is essential, but
sustainable development requires it to be different. It must become more concerned
about the physical environment not only to present generation, but to the future
generation also. It means that the current consumption cannot be financed for long
by increasing economic debt and ecological imbalance which future generation
will pay.Sustainable development constantly seeks to achieve social and economic
progress in ways that will not exhaust the earth’s finite natural resources.
Sustainable development is a process of development in which economic and other
policies are designed to bring about development which is economically, socially
and ecologically sustainable. The concept thus is pro-people, pro-job and pro-nature. It gives highest priority to poverty reduction, productive employment,
social integration and environmental regeneration.

Arinze Ebuka kelvin
2019/246530
300l

Answers
(1 )Before Dudley Seer propounded his
theory of development, many economists
believed that development is achieved when
a country’s Gross Domestic Product (GDP)
grows at 5% to 7% above and the increases
are sustained over a long period of time.
They believed that when such increases
occurred, then that country has achieved
development. To them, development was
based mainly on material increase. Also, it
was believed that economic development is
achieved when there is a change in the
structure of production and employment so
that the share of agriculture in GDP and in
employment declines, while that of
manufacturing and services increases. These
believe made development economists to
focus more on industrialization at the
expense of agriculture (Todaro & Smith,
2006). Based on the believe, many
developing countries in the 1960s and 1970s
experienced increased in their Gross
Domestic Product but the general levels of
living of the masses remained unchanged.
That is, the increases in growth (GDP) do
not have any direct effect on quality of life
of the people.
These made many economists to
reconsider what development really is and
hence glamour for direct attack on
widespread of poverty, increasing inequality
in income distribution and rising
unemployment. To them development
should have a “human face”. That is, it
should be something that should be seen in
the lives of the people.

The section tends to examine and analyze
the three development indicators as
propounded by Dudley Seer and relate it to
the present situation concerning Nigeria’s
Development.

i. Poverty – The United Nations – UN
(1995) defined poverty in absolute and
relative term. They examined absolute
poverty as a state made up by serious denial
of basic human needs including food,
shelter, safe drinking water, sanitation
facilities, health, education and information.
To them, absolute poverty does not depend
only on income but also on access to life.
Relative poverty was defined by the UN in
terms of minimum acceptable standard of
living within a society in which a particular
person lives.

ii. Inequality: The United Nations defined
inequality as the state of not being equal,
especially in status, rights and opportunities
(UN, 2015). Development theory was
concern with inequalities in standard of
living, such as inequalities in
income/wealth, education, health and
nutrition. Nigeria is Africa’s largest
economy, yet inequality has reached
extreme level that the country’s five richestmen worth $29.9 billion could end extreme
poverty at national level, yet a lot are facing
hunger Oxfam report (2017). Nigeria’
economy has been growing in terms of GDP
but without creating adequate opportunities
for the broader population. Resources are
unevenly distributed, resulting in persistent
inequalities.

iii. Unemployment: The International
Labor Organization (ILO) defined
unemployment as all persons of working
age (15 years and above) who were not in
employment but are engaging seeking
employment during a particular period and
were currently available to take up
employment given a job opportunity. The
United States Bureau of Labor Statistics
defined unemployment as person (s) who do
not have job, have actively looked for work
in the prior 4 weeks, and are currently
available for work. Rate of unemployment
is the number of people actively looking for
job as a percentage of the labor force. The
rate of unemployment in Nigeria especially
among the active labor force (youth) is very
alarming. According to the Nigeria National
Bureau of Statistics (2019) report, youth
unemployment rate averaged 23.63% from
2014 until it reaches an all time high of 38%
in the 2nd quarter of 2018. During the 3rd
quarter of 2018, the unemployment rate was
39.7% which is the combination of 23.1%
unemployment rate and 16.6%
underemployment rate. The Bureau
projected that if the rising trend of
unemployment is not urgently curtailed, the
unemployment rate will reach 33.5% by
2020.

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 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.

(2)In a country’s economic development the role of economic factors is decisive. The stock of capital and the rate of capital accumulation in most cases settle the question whether at a juven point of time a country will grow or not. There are a few other economic factors which also have some bearing on development but their importance is hardly comparable to that of capital formation. The surplus of foodgrains output available to support urban population, foreign trade conditions and the nature of economic system are some such factors whose role in economic development has to be analyzed.
Economists generally agree that economic development and growth are influenced by four factors: human resources, physical capital, natural resources and technology. Highly developed countries have governments that focus on these areas. Less-developed countries, even those with high amounts of natural resources, will lag behind when they fail to promote research in technology and improve the skills and education of their workers.

3) I would agree to this assertion because,Development as Freedom is Amartya Sen’s first book after receiving the Nobel and the most widely read of all of his works. Based on the author’s World Bank Fellow Lectures in 1996, this descriptive, non-technical overview of welfare economics argues that ‘development’ should be viewed not in terms of economic measures (e.g. GDP growth, average annual income) but in terms of the real ‘freedoms’ that people can enjoy such as economic facilities and social opportunities. Sen describes human freedom as both the primary end objective and the principle means of development; economic measures are merely the means to this end.

4)Globally, women contribute immensely to agricultural development, comprising about 43% of the world’s agricultural labor force. In some countries, the number of women involved in the agricultural labor force increases to over 70%. Available records indicate that in Africa alone, 80% of agricultural production comes from small farmers, most of whom are rural women. It is noteworthy that agriculture is the bedrock of national development as the best approach to food security, poverty reduction, job creation, and economic stability.

At home, women, notably mothers, play the role in decision-making about family meal planning and diet. Women also initiate and preserve the nutritional and healthcare programs of children at home. In addition, women are not only caring for their children at home but are also the primary caretakers of both children and elders in every country of the world. International studies indicate that women lead in finding solutions to the problems occasioned by a change of political and economic organizations in countries, thereby helping the family adjust to new realities and challenges. Indeed, women are the initiators who play important role in facilitating changes in family life. The UN Women Watch organization asserts that ” rural women play a key role in supporting their households and communities in achieving food and nutritional security, generating income, and improving rural livelihoods and overall wellbeing.

5)As educators, the role or contribution of women to society’s transition from pre-literate to the literate period is highly significant. Basic education is key to a nation’s ability to develop and achieve sustainable policies and programs. It is evident that education helps to improve agricultural productivity, enhances the status of girls and women, stabilizes population growth rates, enhances environmental protection and, increases the standard of living. It is the mother at home who most often urges children of both genders to attend and stay in school. The role of women is at the front end of the chain of improvement, leading to the family and the community’s long term capacity.
The role of women in providing an improved and sustainable workforce is also significant and exciting. The women’s share of the global workforce is about 45.5%. Women’s formal and informal labor can transform a community from a relatively autonomous society to a participant in the national economy. It is obvious that despite the cultural, social, and political setbacks of women, small businesses controlled by women in rural communities are not only extending beyond family lifelines but can also form a networked economic foundation for future generations. The role of women in the urban and rural workforce has expanded greatly in recent times.

6)The definition of the term development underwent a change. Along with growth, the role of redistribution of wealth to reduce inequalities, alleviate poverty and reduce unemployment was emphasized. Focus shifted from just growth in per capita income to a more wide variety of social and political changes accompanied by growth. A multidimensional concept of development emerged to include certain necessary components for development. Denis Goulet suggested three core values necessary for the development of an economy:

Sustenance
Sustenance refers to the basic needs of a human being without which survival would not be possible. These needs include food, shelter, security and good health. Shortage of any of these necessities implies a situation of severe underdevelopment of the economy. Development, therefore, must lead to the reduction of these shortages and fulfil these basic needs of the population. The benefits of growth must be accompanied by a reduction in this absolute poverty situation. As a result, improvement in the quality of overall life in an economy is bound to occur.

Self-esteem
Every individual is entitled to a sense of self-worth or self-respect. Although the nature of self-esteem may change with society or the economy, the basic idea remains the same. All people have the right to a life of dignity and honour. Respect, however, is often attached to wealth and the underdevelopment of an economy can be a burden on people’s self-esteem. Hence to promote self-worth, development must be spread across the whole economy and not just certain sections within it.

Freedom
Freedom refers to not just freedom from servitude, but also from discrimination, oppressive beliefs and practices. Equal opportunity and freedom in every aspect of the social, legal, cultural and political situation are necessary for every individual. Everyone must be free to choose and have control over their own life and actions. Growth without freedom has been observed in many nations, which defeats the purpose of development.

7)Higher income amounts to lower stress
In one study, 522 participants kept a diary for 30 days, tracking daily events and their emotional responses to them. Participants’ incomes in the previous year ranged from less than $10,000 to $150,000 or more. They found:

>Money reduces intense stress: There was no significant difference in how often the participants experienced distressing events—no matter their income, they recorded a similar number of daily frustrations. But those with higher incomes experienced less negative intensity from those events.

>More money brings greater control: Those with higher incomes felt they had more control over negative events and that control reduced their stress. People with ample incomes felt more agency to deal with whatever hassles may arise.

>Higher incomes lead to higher life satisfaction: People with higher incomes were generally more satisfied with their lives.
“It’s not that rich people don’t have problems,” Jachimowicz says, “but having money allows you to fix problems and resolve them more quickly.”

8)The term economic growth is defined as the process whereby the country’s real
national and per capita income increases over a long period of time.
This definition of economic growth consists of the following features of economic
growth:
Economic Growth implies a process of increase in National Income and
Per-Capita Income. The increase in Per-Capita income is the better measure
of Economic Growth since it reflects increase in the improvement of living
standards of masses.

Economic Growth is measured by increase in real National Income and
not just the increase in money income or the nominal national income. In
other words the increase should be in terms of increase of output of goods and
services, and not due to a mere increase in the market prices of existing goods.

Increase in Real Income should be Over a Long Period: The increase of real
national income and per-capita income should be sustained over a long period
of time. The short-run seasonal or temporary increases in income should not
be confused with economic growth.

Increase in income should be based on Increase in Productive Capacity:
Increase in Income can be sustained only when this increase results from some
durable increase in productive capacity of the economy like modernization or
use of new technology in production, strengthening of infrastructure like
transport network, improved electricity generation etc.

While on the other hand,Sustainable development is development that meets the needs of the present
without compromising the ability of future generations to meet their own needs.
Sustainable development includes the protection of future economic growth and
future development. In other words, it means a better quality of life for everyone,
now and for generations to come.Sustainable development includes the protection
of future economic growth and future development. Growth is essential, but
sustainable development requires it to be different. It must become more concerned
about the physical environment not only to present generation, but to the future
generation also. It means that the current consumption cannot be financed for long
by increasing economic debt and ecological imbalance which future generation
will pay.Sustainable development constantly seeks to achieve social and economic
progress in ways that will not exhaust the earth’s finite natural resources.
Sustainable development is a process of development in which economic and other
policies are designed to bring about development which is economically, socially
and ecologically sustainable. The concept thus is pro-people, pro-job and pro-nature. It gives highest priority to poverty reduction, productive employment,
social integration and environmental regeneration.

1. The concentration on national income as a goal for reducing poverty, according to Dudley Seers, “avoided the underlying issues of development” and he suggested “redefining how development was assessed.” He suggested emphasizing political independence, population growth, and education as more socially relevant indicators to better solve development issues. According to Seers, “there is no real ‘growth'” when the advantages of progress and technology exclusively benefit a select group of individuals in the industrialized world who are already affluent. Furthermore, “statistics offices would produce more suitable information if governments become more engaged in social metrics.”

2. The role of compositional changes appears to depend greatly on how one divides GDP into components—by type of output, by type of expenditure, or by type of producer. Composition is an important part of stabilization in any economy as it determines how developed the economy is by each composition.
Looking at the aggregate output, GDP depends on aggregate investment, Government expenditure and net-export. Since development considers long term growth, government spending in the long run may hinder the economy. As it spends interest rates increases to a point that it hinders aggregate investment. When this happens people pull out their investment from the country and this further hinders the overall development of the country.
3. According yo Brussels Times – When money is freedom – or a precondition of being free – then poverty is unfreedom. Poverty obstructs individual freedom and Socio-economic deprivation Essentially limits a person’s ability to fully develop himself, to be in charge of his own life and successfully pursue his own dreams.
On tyranny as a major source of unfreedom, one must pity countries like North Korea, Cambodia, and Zimbabwe where tyranny was endured for over 40years. Robert Mogabe who was the country’s president for 30 years made it so that the essence of democracy was farfetched. His rigime was highly corrupt that no peaceful revolution was even possible, but political and financial bankruptcy finally pushed the dictator back to the wall.
On the aspect of poor economic opportunity, a typical case is a family of four supported by a minimum wage worker still living below the poverty line, and yet still pays taxes to the government. However, instead of this there should be a replacement by Minimum wage increase, quality education, job opportunities, and access to healthy food. It is only then we can say that there is freedom.

4. The role that women okay in the development of any nation can not be overemphasized. In her 2007 TEDTalk, Ngozi Okonjo-Iweala had opined that Some of the best people to invest in in Africa are the women.

They play the role of mothers, caretakers in family affairs, farmers, educators, entrepreneurs, teachers, e.t.c. It is historic that women play significant roles in societal development and ensure the stability, progress, and long-term development of nations. Women also play the role of decision-makers in homes. Globally, women contribute immensely to agricultural development. According to Okadabooks.com, women comprise about 43% of the world’s agricultural labor force. In some countries, the number of women involved in the agricultural labor force increases to over 70%. Available records indicate that in Africa alone, 80% of agricultural production comes from small farmers, most of whom are rural women.
However, It should be noted that agriculture is the bedrock of national development as the best approach to food security, poverty reduction, job creation, and economic stability.
5. Being able to live long – This is a state of living long enough and the absence of accidents or any physical attacks that are life threatening.
Being well nourished – This is a state of looking good as a result of eating nutritious meals.
Being healthy – This is a state of being well enough to do all kinds of things humanly possible.
Being literate – This is the state of being able to read all kinds of books.
Being well clothed – This is the state of wearing goof clothes that does not hinder one’s ability to function.
Being mobile – this is a state of not being restricted from moving from one country to another, and no restrictions on movement from one job to another.

6. Sustenance. This refers to the ability to provide for one’s basic needs. Food, clothing, and shelter are examples of such needs. A person’s life is not progressing if even one of these is lacking. If a nation’s residents have enough or even more than they need for their fundamental needs, there is income growth, severe poverty is addressed, and there is equality among the population, then that nation has developed.

Self-esteem, or a feeling of value and regard for oneself, is a second universal element of the good life. It means that each individual should be treated with respect and according to their rights. Although these values vary from nation to nation and from civilization to society, everyone want their own prestige, identity, and recognition. Progressive capitalist nations like the United States frequently emphasize that a person’s value cannot just be determined by their possession of material possessions. The love for one’s family, the reputation of the family, as well as a person’s dignity and self-esteem, is believed to be more significant in the Philippines than material prosperity. Each individual therefore has needs that can be met by the presence of others.
Freedom from Servitude. This is concerned with human freedom. This freedom is drawn from liberation from oppressive systems in society. And the good thing about development is not only the happiness of being free from poverty but also the availability of a wide range of choices. As Arthur Lewis says:” The advantage of economic growth is not that wealth increases happiness, but that it increases the range of human choice”. In general, freedom abounds when people live a comfortable life, when they have the freedom to choose their religion, to vote and to express their opinion about administratinn and governance, and when they enjoy equal opportunities for education and employment.

7. According to a release from Matthew Killingsworth, senior fellow at Wharton and research author, money gives people the freedom to choose how they want to live their life.
A recent study from The Wharton School at the University of Pennsylvania found that income, even at $75,000, had a positive impact on people’s wellbeing. According to the statistics, all measures of well-being continued to increase with income over a wide range of income levels and didn’t plateau at $75,000 per year.
“At a personal level, it shows that as people grow in their jobs and their earnings climb, it has the ability to actually improve their lives (instead of reaching a limit once they reach $75,000),” adds Killingsworth.
This may indicate that on a more general social level, “continuing economic growth in the decades ahead may still have the power to increase people’s well-being,” he claims.
However, with all these researchs to know the actual correlation between income and happiness, there still isn’t a clear trend. According to Dr. Tony, there is no perfect correlation between happiness and income – people could be poor and happy, and rich but unhappy. Once per capita income increase above $10,000 to $20,000, the percentage of people who say they are happy tend to increase. And the factors that affect happiness includes
Family relationships – A positive family relationships tends to spark up a good bond between families and thereby increases happiness of individuals in that family.
Financial conditions – As studies have shown, financial status tend to determine the happiness of an individual. An increase in real income results to an increase in overall well-being and happiness.
Work satisfaction – In most underdeveloped countries the course that a person studied in the university doesn’t relates to the kind of jobs they are offered. This tends to reduce their level of happiness and overall well-being.
Community and friends – A person’s environment tends to determine their level of well-being. A happy community can birth a happy individual and a healthy friendship can result to a happy individual.
Health and healthcare service – The popular phrase which says that Health is Wealth is true in this context because, it is only when we are healthy that we can think about a greater good. And if we can think about a greater good, happiness can’t be farfetched.
Personal freedom – According to Dariusforoux.com, true personal freedom is to live as you are, to do what you want, and to spend time with people you like. For many of us, true freedom is a distant dream. So if our personal freedom is hindered, our happiness is not guaranteed.
Personal values: Values that are more focused on one’s own development and self-expansion help people be happier, but values that are more concerned with society and one’s own safety tend to make people less happy. Because a self-affirming, self-enhancing focus on oneself becomes even more crucial the less help one can expect from society, these connections are particularly strong in less egalitarian cultures.

8. Economic Growth is the positive change in the indicators of economy. While, Economic development is the quantitative and qualitative change in an economy.
Economic Growth refers to the increment in amount of goods and services produced by an economy. While, Economic development refers to the reduction and elimination of poverty, unemployment and inequality with the context of growing economy.

Economic growth means an increase in real national income / national output. While, Economic development means an improvement in the quality of life and living standards, e.g. measures of literacy, life-expectancy and health care.
It refers to an increase over time in a country’s real output of goods and services (GNP) or real output per capita income. While, Economic development includes process and policies by which a country improves the social, economic and political well-being of its people.
Economic growth focuses on production of goods and services. While, Economic development focuses on distribution of resources.
Economic growth relates a gradual increase in one of the components of GDP; consumption, government spending, investment or net exports.While, Economic development relates to growth of human capital indexes and decrease in inequality. It is concerned with how people are affected.
Economic growth is single dimensional in nature as it only focuses on income of the people. While, Economic development is multi-dimensional in nature as it focuses on both income and improvement of living standards of the people.
Economic Growth is the precursor and prerequisite for economic development. It is the subset of economic development. While, Economic development comes after economic growth. It is a positive impact of economic growth.
Indicators of economic growth are: GDP, GNI And Per capita income. While, Indicators of economic development are: Human Development Index (HDI), Human Poverty Index (HPI), Gini Coefficient, Gender Development Index (GDI), Balance of trade, Physical Quality of Life Index (PQLI)
Economic growth It is for short term/short period. It is measured in certain time frame/period. While, economic development is a continuous and long-term process. Economic development does not have specific time period to measure.

8. State of Nigeria in terms of Economic growth
The Economy of Nigeria is a middle-income, mixed economy and emerging market with expanding manufacturing, financial, service, communications,technology, and entertainment sectors. It is ranked as the 27th-largest economy in the world in terms of nominal GDP, and the 24th-largest in terms of purchasing power parity and the largest Sub Saharan Africa’s economy
In the third quarter of 2022, Nigeria’s economy grew by 2.25% from a year earlier. In other words, the bureau of statistics reports that real GDP rose at a quarterly rate of 9.68% in Q3 2022, suggesting stronger economic activity than in the quarter before. The total nominal GDP for the quarter under review was N52,255,809.62 million. The main driver of growth since late 2020 has been the non-oil sector, which grew at a slower rate of 4.27% in Q3 (compared to 4.77% in Q2). In other words, the non-oil sector contributed 94.34 percent of the country’s GDP in real terms in the third quarter of 2022, up from the percentage seen in the third quarter of 2021, which was 94.3 percent. As a result of decreasing oil output, the oil sector contracted by 22.67%, following a decline of 11.77% in the previous quarter. Vanguardgnr.com and tradingmacroeconomics.com.
State of Nigeria in terms of economic development
We are going to be considering Human Development Index(HDI). The development of good quality human resources and utilization of their potential ensures the development of a nation. Therefore, the Human Development Index (HDI) emphasizes that people and their capabilities are the key criteria to assess the development of a country, not alone GNP/capita. An upper trend of HDI ensures that the fruits of economic growth are reaching the common citizenry, instead of being parked in a few pockets. If two countries with the same level of GNI/capita, end up with different HDI, it indicates either wrong policy choices or its implementation by the government of the nation.

A long and healthy life, knowledge, and a reasonable standard of living are the three main components of HDI, according to Skyline University Nigeria. It is the geometric mean of the normalized indices in each of these three dimensions. When these three factors are carefully examined, the perception of the average person regarding the accessibility of the standard of living, health, and education enjoyed by people of a country is revealed, which subsequently contributes to a high index score. The more closely the value on the index approaches 1.0, the better the position in terms of human development. Nigeria’s HDI in 2022 is 0.534, which places it in the worldwide center of the range.

AGBO EBUBE EDITH
2017/249475
Monetarism is about how change in money supply affects the position of economical activities in a nation or society.
Monetarism
Monetarism is the theory or practice of controlling the supply of money as the chief method of stabilizing the economy.
Monetary theory posits that a change in money supply is a key driver of economic activity. A simple formula, the equation of exchange, governs monetary theory: MV = PQ. The Federal Reserve (Fed) has three main levers to control the money supply: the reserve ratio, discount rate, and open market operations.
A monetarist is an economist who holds the strong belief that money supply—including physical currency, deposits, and credit—is the primary factor affecting demand in an economy. Consequently, the economy’s performance—its growth or contraction—can be regulated by changes in the money supply.

ILAMI BENISON IBOH
2019/241788
bilami35@gmail.com
1
For Prof Dudley Seers and others, if a Nation reaches it’s Economic Growth target without an improvement in levels of living (living standards) of of its people then it cannot be called Development.
For him, the questions about Development were
– What has been happening to Poverty?
– What has been happening to Inequality?
– What has been happening to Unemployment?
It can only be called Development if and only if at least 2 or all 3 of these areas (Poverty, Inequality and Unemployment) have declined from high levels else it cannot be called Development even if Per Capita Income doubles.

3. Development is the process of expanding human freedom. It is “the enhancement of freedoms that allow people to lead lives that they have reason to live”. Hence “development requires the removal of major sources of unfreedom: poverty as well as tyranny, poor economic opportunities as well as systemic social deprivation, neglect of public facilities as well as intolerance or overactivity of repressive states”.

Sen argues that there are five types of interrelated freedoms, namely, political freedom, economic facilities, social opportunities, transparency and security. The state has a role in supporting freedoms by providing public education, health care, social safety nets, good macroeconomic policies, productivity and protecting the environment.
Freedom implies not just to do something, but the capabilities to make it happen. What people can achieve (their capabilities) is influenced by “economic opportunities, political liberties, social powers, and the enabling condition of good health, basic education, and the encouragement and cultivation of initiatives”.
Moreover, freedom deficits still exist in so-called developed countries, and the situation may be moving backwards. Political freedoms are compromised by vested interest politics in the US, and oligarchic powers in Japan and much of Europe. Protectionism of large enterprises, especially in Europe and Japan, limit the economic freedom of small and medium size enterprises. Social opportunities are constrained in most countries as the rich have much better access than the poor to health and education services. Sen does us all a good service in raising the issue of cultural freedoms. The more these issues are discussed the better. But progress will require massive changes in attitudes.
More fundamentally, Sen does not address the issue of how individual freedoms should be nested into society, where we all have to forego some freedom in order to live together peace.

4. Globally, women contribute immensely to agricultural development, comprising about 43% of the world’s agricultural labor force. In some countries, the number of women involved in the agricultural labor force increases to over 70%. Available records indicate that in Africa alone, 80% of agricultural production comes from small farmers, most of whom are rural women. It is noteworthy that agriculture is the bedrock of national development as the best approach to food security, poverty reduction, job creation, and economic stability.

At home, women, notably mothers, play the role in decision-making about family meal planning and diet. Women also initiate and preserve the nutritional and healthcare programs of children at home. In addition, women are not only caring for their children at home but are also the primary caretakers of both children and elders in every country of the world. International studies indicate that women lead in finding solutions to the problems occasioned by a change of political and economic organizations in countries, thereby helping the family adjust to new realities and challenges. Indeed, women are the initiators who play important role in facilitating changes in family life. The UN Women Watch organization asserts that ” rural women play a key role in supporting their households and communities in achieving food and nutritional security, generating income, and improving rural livelihoods and overall wellbeing.
As educators, the role or contribution of women to society’s transition from pre-literate to the literate period is highly significant. Basic education is key to a nation’s ability to develop and achieve sustainable policies and programs. It is evident that education helps to improve agricultural productivity, enhances the status of girls and women, stabilizes population growth rates, enhances environmental protection and, increases the standard of living. It is the mother at home who most often urges children of both genders to attend and stay in school. The role of women is at the front end of the chain of improvement, leading to the family and the community’s long term capacity.
Although women are still lagging behind men worldwide, the historic and current role of women is indisputable. Michelle Bachelet, the Under-Secretary-General and Executive Director of UN Women notes that “when women are empowered and can claim their rights and have access to land, leadership, opportunities and choices, economic growth, food security are enhanced and developmental prospects are improved for current and future generations.
The role of women as volunteers in local and international organizations for development has global collective recognition. The global Volunteers Community Development work in host countries worldwide strengthens women’s and children’s capacity and supports their sustained health and development. Under the development and direction of local leaders, women volunteers help ensure academic accessibility, foster parental involvement, offer psycho-social support, provide nutrition and health education, fund girls’ scholarships, construct schools and educate children and women through programmed extension works.

6
The Core Values of Development are Self Esteem, Freedom and Sustenance.

1) FREEDOM
Simply refers to the ability to choose. For example, if Kenya has a plethora of alternatives from which to satisfy its wants and as well as Kenyans enjoying real choices according to their preferences then we can call that Freedom as a core value of development.
2) SELF ESTEEM
Simply means the feeling of worthiness and self respect. For example, a Nation that has gained independence from a Colonial Master will have some sort of higher self esteem as they may feel that they are not being used as a tool by others for their own ends.
3) SUSTENANCE
This refers to the ability to meet basic needs like clothing shelter and food. For example if I do not have food or have it in short supply, my participation in school as well as my cognitive ability will be badly affected and so will my results and this will affect my productivity and my development as well as that of the nation not to mention the vices that I might get involved in just to ‘survive’.

8
Economic Growth
Economic Development
Economic Growth is the positive change in the indicators of economy. Economic development is the quantitative and qualitative change in an economy.
Economic Growth refers to the increment in amount of goods and services produced by an economy. Economic development refers to the reduction and elimination of poverty, unemployment and inequality with the context of growing economy.
Economic growth means an increase in real national income / national output. Economic development means an improvement in the quality of life and living standards, e.g. measures of literacy, life-expectancy and health care.
It refers to an increase over time in a country’s real output of goods and services (GNP) or real output per capita income. Economic development includes process and policies by which a country improves the social, economic and political well-being of its people.
Economic growth focuses on production of goods and services. Economic development focuses on distribution of resources.
Economic growth relates a gradual increase in one of the components of GDP; consumption, government spending, investment or net exports. Economic development relates to growth of human capital indexes and decrease in inequality.

It is concerned with how people are affected.

Economic growth is single dimensional in nature as it only focuses on income of the people. Economic development is multi-dimensional in nature as it focuses on both income and improvement of living standards of the people.
Economic Growth is the precursor and prerequisite for economic development. It is the subset of economic development. Economic development comes after economic growth. It is a positive impact of economic growth.
Indicators of economic growth are:
GDP
GNI
Per capita income
Indicators of economic development are:
Human Development Index (HDI)
Human Poverty Index (HPI)
Gini Coefficient
Gender Development Index (GDI)
Balance of trade
Physical Quality of Life Index (PQLI)

UCHEOMA DANIELL ACHIMDINDU
ECONOMINCS DEPARTMENT
2019/241763
Anwer 1:
Many economists considered economic growth as the development of the economy. They believed that development occurs when the Gross Domestic Product GDP of a country grows at 5% to 7% above and the increase is sustained for a long period. Also, there is a change in the structure of production and employment; the percentage of Agriculture’s contribution to the GDP decreases while that of industrialization increases at the expense of the former. Due to this belief, many developing countries in the 1960s and 70s experienced high increases in GDP while the standard of living remained unchanged or even declined.
Economists began to reconsider what development really was and what was supposed to be measured to determine the development of a country. Among these economists was Seers who belong to the structuralists’ school of thought. He gave factors to be considered to determine whether a country is developed by asking three pertinent questions in this manner: ‘what has been happening to poverty? What has been happening to unemployment? What has been happening to inequality?’. According to him, a country is said to experience development if all three problems have been alleviated significantly. However, if one or two or all the problems remain the same or grow worse, it is impossible to say that development has occurred.
Poverty according to the United Nations is defined in absolute and relative terms. Absolute poverty is a state made up of serious denial of basic human needs including food, shelter, safe drinking water, sanitation facilities, health, education, and information. Absolute poverty to them does not only depend on income but also on access to life. Relative poverty was defined by the UN in terms of the minimum acceptable standard of living within a society in which a particular person lives. Seers argued that “the focus on national income as a target for achieving poverty reduction avoided the real problems of development”; that is, there were other factors that restricted people from escaping poverty- this is explained in Sen’s view of development judged by its impact on people’s freedom. He recommended “redefining how development was measured” in terms of poverty.
The United Nations also defined inequality as a state of not being equal, especially in status, rights, and opportunities. Again, Seers argued that no real development occurred when the benefits of technology and progress helped only a small number of people in the developed world who are already relatively rich.
The International Labor Organization defines unemployment as all persons of working age (15 years and above) who were not in employment but are engaged in seeking employment during a particular period and were currently available to take up employment given a job opportunity. To Dudley Seers, employment of available and willing labor is characterized by development. When there is a high rate of unemployment in a country, even when there is increasing GDP, it is not a developed nation.
Nations seeking to develop their economy consider the writing of Seers and make a conscious effort to reduce if not eliminate these problems limiting development. Developing and underdeveloped countries have a high percentage of people or families earning below the nation’s poverty line or poverty threshold which is the annual income below which a person or family is considered impoverished. The national poverty line is calculated independently for each country because each country’s economy is different. According to the World Bank, Nigeria’s poverty rate is 65.2% which contradicts the 40% touted by the Nigerian government. The World Bank report suggests that northern Nigeria is directly responsible for Nigeria’s infamous ranking as the global headquarters of poverty.
Answer 2:

Answer 3:
I agree with this statement.
According to Sen’s definition, development is enhanced when democracy is functional and effective. There is the protection of human rights, especially the freedom of the press and of speech. These rights equip the citizens to hold the government accountable for whatever policy or action is being taken. There occurs an increase in the likelihood of the government tending to the people’s needs more efficiently thereby promoting development. He claims that “no famine has ever taken place in the history of the world in a functioning democracy”. This is because democratic governments “have to win elections and face public criticism, and have a strong incentive to undertake measures to avert famines and other catastrophes”. This is an agreeable statement considering the fact that the whole idea behind democracy is for the government to act in service of the people who hold the power. However, this has not been the case for most developing countries that claim to be practicing a democratic system of government. In fact, there are people who believe that the freedom given to the people has caused political instability and even a decline in the development of the nation. One such person is Singapore’s Lee Kuan Yew who brought forth theories of Asian values used as a tool to encourage political repression. Sen criticizes these theories by disagreeing with the existence of Asian values in a continent with vastly disparate populations and traditions and containing 60 percent of the world’s population. Sen further proves his theory by explaining development in Asia improved with the growing democracy.
In the case of countries practicing a democratic system of government with a developing economy, the issue becomes how much freedom is given to the people and how much freedom are the people aware of. That is why Sen specifically stated that development will only occur in a state where development is efficient and where the people are aware of their basic human rights. Sen gave five types of freedom that initiate development. They are political freedom, economic facilities, social opportunities, transparency, and security. The state has a role in supporting freedoms by providing public education, health care, social safety nets, good macroeconomic policies, productivity, and protecting the environment.
With the sources of unfreedom(poverty, tyranny, poor economic activities, and others) comes capacity deprivation. This is a better measure of poverty than low income. With the elimination of these sources, individuals have the freedom to do whatever they want and whatever they know how to do best which not only benefits them but the entire economy. Imagine a family who would like to give their children a quality education but is restricted by their income. It becomes one less efficient labor to the economy. This is the reason Sen believes development to be the expansion of human freedom.

Answer 4:
With the emergence of the various waves of feminism, we see the importance of involving women in economic activities and how encouraging them has led to an improvement in the development of a nation’s economy. Not restricting them to just one sector (either the traditional or modern sector) and giving them the freedom of choice (with the emergence of choice feminism) will allow them to contribute efficiently to growth as well as development.
The role of women in the economy is just as important as that of the man and is similar – It involves ensuring economic stability, progress, and achievement of sustainable development in society. It is important for society to recognize the capabilities of women and understand the importance of engaging them. This has been the case for most developed countries that invest in women’s development and give attention to the factors that encourage them to thrive in their contributions to the economy. However, in developing countries like Nigeria, women are still being undermined and are given little to no attention while being relegated to the background usually limited to doing traditional chores or jobs with very little mental capacity. In fact, they are being denied basic necessities such as education and healthcare that would have enabled the to function properly in the economy. Overall men/boys and women/girls do not enjoy the same opportunities and do not have the same chances to either benefit from or contribute to the social and economic development of their countries. It is bad that the legitimate aspiration of women to play a more critical role in the economic development of their countries is often linked to the quest for civil and political rights.
Women’s empowerment is closely related to socio-economic development. In fact, it is seen as a determinant of development in society. It is however not enough if not supported by strong policies made by the government. Just as Amatya Sen has said, with freedom comes development. When a certain demographic of society is not given this freedom, there wouldn’t be as much development as there would have and the economy’s potential is not reached. This is why it is important to give these women the freedom to choose and also encourage them by making it easy to contribute with the provision of resources.
On Aug 20, 2019, Suryakala Kannan published CONTRIBUTION OF WOMEN IN ECONOMY PRODUCTION -THE BASIS OF ECONOMY where she stated that women have always contributed to society since the beginning of the human race. She further describes women’s work in various sectors of the modern – In the Agricultural, Industrial, and service sectors. With the contribution of their resources, there will be a noticeable improvement in the economy.

Answer 6:
There has been an evolution of the definition of development; from it being a measure of materialistic economic growth to a consideration of other factors which may affect human living. With the emergence of a multidimensional concept involving development, Denis Goulet suggested the three core values of development which are; sustenance, self-esteem, and freedom. According to him, these values should serve as a conceptual basis and practical guidelines for understanding the “inner” meaning of development. They represent common goals sought after by every member of society relating to the fundamental human needs that find their expression in almost all societies and cultures at all times.
Sustenance refers to the basic needs of a human being without which survival would not be possible. These needs include food, shelter, security, and good health. Shortage of any of these necessities implies a situation of severe underdevelopment of the economy. Development, therefore, must lead to the reduction of these shortages and fulfill the basic needs of the population.
Every individual is entitled to a sense of self-worth or self-respect. Although the nature of self-esteem may change with society or the economy, the basic idea remains the same. All people have the right to a life of dignity and honor. Respect, however, is often attached to wealth and the underdevelopment of an economy can be a burden on people’s self-esteem. Hence to promote self-worth, development must be spread across the whole economy and not just certain sections within it.
Freedom refers to not just freedom from servitude, but also from discrimination, oppressive beliefs, and practices. Equal opportunity and freedom in every aspect of the social, legal, cultural, and political situation are necessary for every individual. Everyone must be free to choose and have control over their own life and actions. Growth without freedom has been observed in many nations, which defeats the purpose of development.

Answer 8:
Economic growth has always been mistaken by the traditional economists to be development. They thought development meant increase in production with the use of GDP as a measuring index among many others. However, with new study and theories, the meaning of development has evolved to mean many different things involving the way humans live in a society. This has also created a distinction between the two terms: development and growth.
While growth can be simply defined as the measure of production in a country, development is more complex and multidimensional; there are many factors to be considered when defining it. It involves how people of the society live, diversification in the economy, employment and so on.
Development can only occur when there is economic growth which happens alone independent of development.
Economic growth is not a good determiner of a country’s performance as a country with high GDP can still struggle with the problems of unemployment, poverty, and inequality. A very good example is the case of the Nigerian Economy.
Nigeria has a Gross Domestic Production as at 2019 of $448.12B with a 12% increase from 2018. Because of its high GDP, in 2014, it became the largest economy in Africa taking over South Africa. However, it also has a very high rate of poverty at 65.2% and unemployment rate at nearly 33% which is worse than South Africa. There is also the issue of inequality, insecurity, scarcity and so on.
With the given figures we are a developing nation with an inflation rate of 11.4% getting to hyperinflation.

NAME: UGWUOKE KOSISOCHUWU PRECIOUS
REG:2019/243547

1:Before Dudley Seer propounded his theory of development, many economists believed that development is achieved when a country’s Gross Domestic Product (GDP) grows at 5% to 7% above and the increases are sustained over a long period of time. They believed that when such increases occurred, then that country has achieved development. To them, development was based mainly on material increase. Also, it was believed that economic development is achieved when there is a change in the structure of production and employment so that the share of agriculture in GDP and in employment declines, while that of manufacturing and services increases. These believe made development economists to focus more on industrialization at the expense of agriculture (Todaro & Smith, 2006). Based on the believe, many developing countries in the 1960s and 1970s experienced increased in their Gross Domestic Product but the general levels of living of the masses remained unchanged. That is, the increases in growth (GDP) do not have any direct effect on quality of life of the people.
These made many economists to reconsider what development really is and hence glamour for direct attack on widespread of poverty, increasing inequality in income distribution and rising unemployment. To them development should have a “human face”. That is, it should be something that should be seen in the lives of the people. Amongst these economists seeking for a direct approach on development was Dudley Seer, a British Economist who specialized in development economics. He came up with a concept that replaced the growth fetishism with a social development. According to Seer (1969), development is about the level of poverty, unemployment and inequality in a nation. To him, if these three variables have declined over a period of time, then development has occurred for the nation concerned. But if one or two of these variables have been growing worse, especially if all three have, it would be strange to call the result “development,” even if per capita income has soared Seers
2:Economic growth is the most powerful instrument for reducing poverty and improving the quality of life in developing countries. Both cross-country research and country case studies provide overwhelming evidence that rapid and sustained growth is critical to making faster progress towards the Millennium Development Goals – and not just the first goal of halving the global proportion of people living on less than $1 a day.
Growth can generate virtuous circles of prosperity and opportunity. Strong growth and employment opportunities improve incentives for parents to invest in their children’s education by sending them to school. This may lead to the emergence of a strong and growing group of entrepreneurs, which should generate pressure for improved governance. Strong economic growth therefore advances human development, which, in turn, promotes economic growth.
But under different conditions, similar rates of growth can have very different effects on poverty, the employment prospects of the poor and broader indicators of human development. The extent to which growth reduces poverty depends on the degree to which the poor participate in the growth process and share in its proceeds. Thus, both the pace and pattern of growth matter for reducing poverty.
A successful strategy of poverty reduction must have at its core measures to promote rapid and sustained economic growth. The challenge for policy is to combine growth- promoting policies with policies that allow the poor to participate fully in the opportunities unleashed and so contribute to that growth. This includes policies to make labour markets work better, remove gender inequalities and increase financial inclusion.
Asian countries are increasingly tackling this agenda of ‘inclusive growth’. India’s most recent development plan has two main objectives: raising economic growth and making growth more inclusive, policy mirrored elsewhere in South Asia and Africa.
Future growth will need to be based on an increasingly globalised world that offers new opportunities but also new challenges. New technologies offer not only ‘catch-up’ potential but also ‘leapfrogging’ possibilities. New science offers better prospects across both productive and service sectors.
Future growth will also need to be environmentally sustainable. Improved management of water and other natural resources is required, together with movement towards low carbon technologies by both developed and developing countries. With the proper institutions, growth and environmental sustainability may be seen as complements, not substitutes.
DFID will work for inclusive growth through a number of programmes and continues to spend heavily on health and education, which have a major impact on poor people’s ability to take part in growth opportunities.
More and better research on the drivers of growth will be needed to improve policy. But ultimately the biggest determinants of growth in a country will be its leadership,policies and institutions
3: According to Sen, development is enhanced by democracy and the protection of human rights. Such rights, especially freedom of the press, speech, assembly, and so forth increase the likelihood of honest, clean, good government.

He claims that “no famine has ever taken place in the history of the world in a functioning democracy”. This is because democratic governments “have to win elections and face public criticism, and have strong incentive to undertake measures to avert famines and other catastrophes”.

Development is the process of expanding human freedom. It is “the enhancement of freedoms that allow people to lead lives that they have reason to live”. Hence “development requires the removal of major sources of unfreedom: poverty as well as tyranny, poor economic opportunities as well as systemic social deprivation, neglect of public facilities as well as intolerance or overactivity of repressive states”.

Sen argues that there are five types of interrelated freedoms, namely, political freedom, economic facilities, social opportunities, transparency and security. The state has a role in supporting freedoms by providing public education, health care, social safety nets, good macroeconomic policies, productivity and protecting the environment.

Freedom implies not just to do something, but the capabilities to make it happen. What people can achieve (their capabilities) is influenced by “economic opportunities, political liberties, social powers, and the enabling condition of good health, basic education, and the encouragement and cultivation of initiatives”. Sen calculates that if women in Asia and North Africa were given the same health care and attention, the world would have 100 million more women.
4: Women are the set of human beings that belongs to the female gender. They play the role of mothers, caretakers in family affairs, farmers, educators, entrepreneurs, teachers, e.t.c. It is historic that women play significant roles in societal development and ensure the stability, progress, and long-term development of nations. Women also play the role of decision-makers in homes. Globally, women contribute immensely to agricultural development, comprising about 43% of the world’s agricultural labor force. In some countries, the number of women involved in the agricultural labor force increases to over 70%. Available records indicate that in Africa alone, 80% of agricultural production comes from small farmers, most of whom are rural women. It is noteworthy that agriculture is the bedrock of national development as the best approach to food security, poverty reduction, job creation, and economic stability.

At home, women, notably mothers, play the role in decision-making about family meal planning and diet. Women also initiate and preserve the nutritional and healthcare programs of children at home. In addition, women are not only caring for their children at home but are also the primary caretakers of both children and elders in every country of the world. International studies indicate that women lead in finding solutions to the problems occasioned by a change of political and economic organizations in countries, thereby helping the family adjust to new realities and challenges. Indeed, women are the initiators who play important role in facilitating changes in family life. The UN Women Watch organization asserts that ” rural women play a key role in supporting their households and communities in achieving food and nutritional security, generating income, and improving rural livelihoods and overall wellbeing.
5: Capabilities are the doings and beings that people can achieve if they so choose — their opportunity to do or be such things as being well-nourished, getting married, being educated, and travelling; functionings are capabilities that have been realized. Whether someone can convert a set of means – resources and public goods – into a functioning (i.e., whether she has a particular capability) crucially depends on certain personal, sociopolitical, and environmental conditions, which, in the capability literature, are called ‘conversion factors.’ Capabilities have also been referred to as real or substantive freedoms as they denote the freedoms that have been cleared of any potential obstacles, in contrast to mere formal rights and freedoms.

Within philosophy, the capability approach has been employed to the development of several conceptual and normative theories within, most prominently, development ethics, political philosophy, public health ethics, environmental ethics and climate justice, and philosophy of education
6: According to this approach, development is not just about increasing the availability of commodities (focus of the per-capita income approach) but expanding the capabilities of individuals to use these commodities and enhancing the freedom of choice of people. Higher income is important an element of one’s well being. But, well being of individuals also depends on their health, education, geographical and social environment, and political system. There are three core values of development: (i) sustenance, (ii) self- esteem, and (iii) freedom.
Sustenance: Sustenance is the ability to meet basic needs of people. All people have certain basic needs without which life would be impossible. These basic needs include food, shelter, health, and protection. People should have access to these basic needs.
Self-Esteem: Sense of worth and self-respect and feeling of not being marginalized are extremely important for individual’s well being. All peoples and societies seek some form of self-esteem (identity, dignity, respect, honor etc.). The nature and form of self- esteem may vary from on culture to another and from time to time. Self-esteem may be based on material values: higher income or wealth may be equated with higher worthiness. One may consider individuals worthy based on their intellect or public service.
Freedom from Servitude: Human freedom, the ability to choose, is essential for the well being of individuals. Freedom involves an expanded range of choices for societies: economic and political. It involves freedom from bondage, serfdom, and other exploitative economic, social, and political relationships.
7: Buying into “happiness materialism” — the belief that wealth is an indicator of a happy life — tends to be problematic because it takes “much time, energy and money away from other life domains that make an important and positive contribution to present life satisfaction,” such as family, work and health, the study authors wrote.

However, researchers believe focusing on “success materialism” — the idea that wealth signifies success — enhances people’s “economic motivation,” or their drive to work and improve their standard of living. Thinking about success through that lens could make individuals more satisfied with their present lives and hopeful about the future.

This simple mindset shift could make a difference in the way people view success and their lives, but of course there are other variables at play. For example, while this study didn’t cover how income specifically affects life satisfaction, researchers agree that it also impacts people’s happiness.
8:A:Economic growth It refers to the increase in the monetary growth of a nation in a particular period.while economic development It refers to the overall development of the quality of life in a nation, which includes economic growth.
Span of Concept
B:Economic growth It is a narrower concept than that of economic development.while economic development It is a broader concept than that of economic growth.
C:Scope
Economic growth It is a uni-dimensional approach that deals with the economic growth of a nation.while economic development It is a multi-dimensional approach that looks into the income as well as the quality of life of a nation.
D:Term
Economic growth is in Short-term process while economic development is in the Long-term process
E:Measurement
Economic growth and economic development both varies in Quantitative
F:Government Support
Economic growth It is an automatic process that may or may not require intervention from the government while economic development It requires intervention from the government as all the developmental policies are formed by the government

Name: Idajor John Ayuochieyi
Reg. No: 2019/248707
Department: Economics
SOLUTIONS
Answer to question one
The argument of professor Dudley Seers that development can only be if there is reduction in poverty, inequality and unemployment is indeed a fact even to a very large extent. There can be an economic growth without development if the increased income is not used to develop the economy. Let’s look at the meanings of the three key words: Poverty, inequality and unemployment.
Poverty: It is seen as a situation whereby someone has a very little money that is not enough to Carter for the basic needs of the person. In an economy where people lack money to provide for their basic needs, in such economy there is lack of development. In an economy where poverty is at its highest rate it therefore shows that some basic functions that are to be played most especially by the government are denied. For example, in our country Nigeria, the poverty headcount rate is instead projected to jump from 40.1 per cent in 2018/19 to 42.0 per cent in 2020 and 42.6 per cent in 2022, implying that the number of poor people was 89.0 million in 2020 and would be 95.1 million in 2022. Looking at this someone may be forced to ask, is there no working force in Nigeria? Is there economy not experiencing economic growth? and so many other questions. In the case of Nigeria, the truth remains that there is an economic growth but the reason for no development is due to bad government especially in this present government of ours. When the government fails to look into the basic needs of its citezens and provide ways in which poverty can be if not eradicated then be reduced to its nearest minimum. There are many things that can lead to poverty in an economy, things such as: conflnutriinadequate access to clean water and nutritious food, little or no access to livelihood, poor education, etc. If the government of a country like Nigeria looks down on the causes of poverty as mentioned above, there is no likelihood of reducing poverty.
For an economy to reduce poverty, it does not only have to experience economic growth only but has to employ the income gotten from GNI into those different sectors of the economy that tends to proliferate poverty. The government can emback on:
Education of the young ones: This is very Paramount for the country like Nigeria whose government now sees education as nothing but waste of money and resources, with the help of education, the teeming generation will be educated on how to carter for the basic needs of each one themselves not even relying on the government.
Provision of clean water: when there is a good source of water for the people there is also life because good water is even the first and the necessary aspect of feeding.
Ensure basic health care.
Empower a girl or woman.
Improve childhood nutrition.
Support environmental programs.
Reach children in conflict.
Prevent child marriage.
Inequality: It means the situation of not being equal, in particular in reference to the distribution of income among the population. There are so many things that leads to inequality in an economy. One is the distribution of resources in an economy. Take for instance in our country Nigeria, the main source of income in the country is income from crude oil, and the deposit of crude oil cannot be found in all the state in Nigeria, after the sales of crude oil, how can the income be equally distributed to all sectors in the economy? This is one of the trending problems with the government of Nigeria. If the income gotten from crude oil can be equally distributed and efficiently used, there is the likelihood of development. Unfortunately, in Nigeria, he who is in position to rule others would come up with the general saying “that God for us all and man to himself”. We see that most of the income generated in the southern of Nigeria are largely allocated to the northern part of Nigeria. The real owners of crude oil gets nothing. If the government can look into allocating these incomes generated to different sectors of the economy that are lacking behind, there will be development in such economy.
There are also other causes of inequality in an economy such as:
Gender inequality
Globalization
Differences in education, etc.
For an economy to reduce inequality, it must try to see how it can reallocate the different resources to places that do not have enough of those resources, it must do away with gender inequality especially that of women so that women can work and progress like others in the society.
Unemployment: It is a situation whereby there are given number of men and women who are ready and willing to work but finds no work. This is one of the alarming rates of the cries of Nigerian youths who have graduated and have no work to do. Today most Nigerians are leaving the country in search for work in other countries. In an economy where there no provision of employment for citizens, then there is lack of development. Why is is that in Nigeria a lot of graduate are found without jobs? Is there no work for them? What is the response of the government to this? These are some of the questions likely asked by many people. There are many factors that lead to unemployment such as:
Corruption,
neglect of agricultural and other natural resources,
poor quality education,
a lack of working skills,
overpopulation,
inflation,
and a decrease in economic value
In Nigeria, most of the educational institutions are very poor due to the lack of concern by the government towards education, even the tertiary institutions are unstable due to ASSU strike in regards to government refusal to respond to the needs of ASSU which will help the educational system. In such economy, development can hardly occur.
Corruption is the main cause of unemployment especially in Nigeria, a situation whereby those in authority think only of themselves and their families and no more the care for the needs of the society today, this is what is experience now in our present government.
Agricultural and other natural resources have been abandoned due to the discovery of crude oil. Before, the main source of income in Nigeria was agriculture, if the government can in a common sense, hold up to the aspect of agriculture joined together with crude oil, I think even the least among the poor in Nigeria would have little to complain about if all the income are efficiently used.
For the government to reduce unemployment in Nigeria, I think the following should be adhered to:
Fiscal Policy of Government. …
Central Bank and Nigeria Monetary Policy. …
Government Spending. …
Agric Sector Reform. …
Government Intervention in Micro Lending. …
Getting Professional Education. …
Finishing School. …
Changing University Curriculum
I can say that Professor Dudley seers is right with his argument about development, if the solutions to poverty, unemployment and inequality are adhered to, then there is said to be development in such economy especially in Nigeria.
Answer to question two
Here, we will look at development occurring in a multi dimensional way, of cause, development cannot occur in one way bit in different ways. We will look at the key factors: Development involving changes in output, development involving shift in the allocation of productive resources and development as a reduction of poverty, inequality and unemployment.
Development involving changes in the composition output: Change in output can be defined as is defined as the percentage change in output per one percent change in all the inputs. This leads to what is known as returns to scale, and the reasons for return to scale are as follows:
Division of labor and increased efficiency of variable factors.
Organized and efficient coordination between the factors.
Indivisibility of factors of projection
Changes in the composition of output refers to changes not only in the out of a firm but in different parts, sectors, and aspects of production on an economy. For example, let’s say we have different aspects that contribute to the GDP of the nation such as: agricultural sector, companies, business sectors, etc. In each of these sectors, like in agriculture: if there is a change from the use of local implement for cultivation to the use of mechanized tools in cultivation, then there will be increase in the hectares of land cultivated, also, if there is an increase in the use of deposits as manure to the use of fertilizers on farm land, there will be a change in the yield of crops cultivated. Thus, it applies to other sectors in the economy. If there is a positive (increasing) change the the composition or different parts through which an output is given to the economy then development has occurred.
Development involving shift in the allocation of productive resources: Here, we’ll look at productive resources, it is defined as the natural, human, and capital re- sources used to make goods and services. For more understanding let’s look at what scarcity is all about, Scarcity means that because resources are limited, you can’t have every- thing you want. For an effective development to take place in an economy, there is need for reallocation of those productive resources in an economy to places where there are scarce. For example, if the government of Nigeria decide to establish more universities in the northern part of Nigeria, there will be need for the reallocation of well trained lecturers from the southern part of Nigeria to the north in order for effective education to take place. If there is no reallocation of lecturers to such area, then those employed as lecturers there may not deliver effective lessons to students since in the south we have more learned people than those in the north. The reallocation of productive resources is very necessary for development, otherwise there will be scarcity in other parts of the economy.
Reduction of poverty, inequality and unemployment: As said earlier in question, development can only occur when there is reduction in poverty, inequality and unemployment. For instance, in our country Nigeria, most people are unemployed and the result of such brings terrorism, stealing, and many other vices in the country, if the government can provide solutions to unemployment, youths would have something doing.
Poverty is must be fought by the government and inequality. All these boils down to the fact that the government is bad and corrupt, in a good government there is provision of employment, and other basic needs, if all these are adhered to, then it gives the summary of the first two answers which shows that development is multi dimensional.
Answer to question three
The assertions of Amartya Sen are of cause to be agreed on, but before the agreement, let’s look at the key words of his proposition.
Unfreedom: This is seen as the lack of power or right to act, speak, or think as one wants. Or the state of being imprisoned or enslaved. Or the state of being subject to or affected by (something undesirable). This is one of the factors that cripples economic development. In an economy where the freedom of the citizens is not ensured, there seemed to be lack of economic development. Looking at Nigeria as a case study, the present government can be said to be made up of most of those factors affecting economic development. In Nigeria, the Hausa’s believed that, they are born to rule, that no other tribe or States outside the north should rule. That is why during the period of Goodluck Jonathan, he worn the election but there was ridging of result and Buhari said that if anyone wins the election outside him there will be war which made Goodluck to call for peace. This is one of the examples of unfreedom. Now, looking critically on the government of President Buhari and comparing with that of president Jonathan, you’ll see that Nigeria was better during the time of Goodluck, that is why there is the saying that Presidential Buhari came to chain us and not to change the government. Situations like this cannot profer for economic development, for economic development to be ensured, there must be removal of those sources of unfreedom that chains the people.
Tyranny: This is a government in which a single ruler has absolute power over the subject. In an economy where one person takes decision on behalf of others and controls the means of production and distribution of goods and services, there is the likelihood of non development. Nigeria is a country that bears the name of practicing democracy but actually practice tyranny, that is why instead of development, there is rather decrease even in economic growth.
Poor Economic opportunities: Poor Economic opportunity means when young people cannot access the education, training, guidance, and connections required to successfully achieve economic security and independence. This is also one of the factors crippling development in an economy. A state where the teeming generation cannot afford these basic economic opportunities, then the future generation is in jeopardythThis is also the case with Nigeria where the young ones cannot access these economic opportunities such as education, training, guidance and security. Every now and then, Nigeria has faced so many security challenges such as Boko Haran, unknown gun men, the trending one which is attack from Fulani herds men. This will trigger fall even in Nigeria’s GDP. Thus, it can be rightly said without bounds to words of professor Amartya Sen’s statement that development can only occur when all these factor are uprooted from the root giving ways to freedom, good economic opportunities, etc.
Systematic social deprivation/ neglect of public facilities/ intolerance: Systematic social deprivation refers to the limited access to society’s resources due to poverty, discrimination, or other disadvantages. The definition says it all, for any economy to experience development, there must be proper trashing of some social vices such as systematic social deprivation. As usual, our main case study will be Nigeria, discrimination is widely spread Nigeria not just in politics, but in different aspects and sectors in the country. It is only in Nigeria that people go to apply for job and those that will be first considered are those who are of close relations and friends and also those from the tribe/tribes of those who are in charge of employment not minding if those who are the so called friends and relations have the requirements and are capable and fit for the job to be proferred. Likewise in the government, position of authority is no more by voting but merited by those who have hands above, that is why the rich gets richer and the poor gets poorer in Nigeria. Therefore I fully agree with Amartya Sen that, all these factors must be eradicated in order that there will be economic development. Now, another opportunity is here for Nigerians to make the right choice on whom to rule them, if the citizens vote in the right leaders as we are looking forward to see, there will be economic growth and development, students will no more go home on strike again.
Adding to this factor are neglect of public facilities and intolerance that all contribution to the debilitation of economic development. Thus, my agreement with Amartya Sen is to a very large extent that the removal of such factors will pave way for economic development.
Answer to question four
There is a saying that “what a man can do a woman can do better”. The roles of women in national development counts in a board aspect. Some of the central roles of women in national development are as follows:
They played the role of mothers
As caretakers in family affairs
They played to role of farmers
Educators and teachers
Entrepreneurs
They played a role in politics and government
The role of mothers: This role is so overlooked upon by so many people as a thing of less worth. Without the exist of women whose takes pain in carrying children for nine months, give birth to them and train them up to become good citizens, good leaders to, them I think the whole population of mankind would have been wiped out by now. What then is the meaning of a mother? A mother is a human female who parents and gives birth to a child, and carter for the need of the child till adulthood. Reports have shown that children are closer to their mother’s than to their fathers. That is why most characters inculcated by a child is that of the mother. Due to the affection and care shown by mothers to children, the children feel the need of total dependence on their mothers. If women can play such role in the family, what is that superstitious believe that women cannot play a vital role in national development?
As caretakers in family affairs: Another important role of women i n national development is caretakers in family affairs. Women are known as the peace of the family, in most families, women play a vital role in taking care of the family affairs such as cooking, washing of clothes, keeping of the environment clean, solving disputes between children and many others. If you enter a house or compound in the morning and see that it is not well kept, the general conclusion would be that there is no woman in that arena.
They played the role of farmers: World widely, women contribute immensely to agricultural development which constitute about 43% of the agricultural workforce in the world. In most countries of the world, the number of women engaged in agriculture is over 70% on the increase, taking cognizance of Africa alone, the available records of agricultural production is 80%which comes from small farm production. It is said to agriculture is the bedrock for national food security, poverty reduction, job creation and economic stability.
Educators and teachers: As educators, the role or contribution of women to society’s transition from pre-literate to the literate period is highly significant. Basic education is key to a nation’s ability to develop and achieve sustainable policies and programs. It is evident that education helps to improve agricultural productivity, enhances the status of girls and women, stabilizes population growth rates, enhances environmental protection and, increases the standard of living. It is the mother at home who most often urges children of both genders to attend and stay in school.
They played a role in politics and government: Women are also known to immensely contribute to national development.The role of women in providing an improved and sustainable workforce is also significant and exciting. The women’s share of the global workforce is about 45.5%. Women’s formal and informal labor can transform a community from a relatively autonomous society to a participant in the national economy. It is obvious that despite the cultural, social, and political setbacks of women, small businesses controlled by women in rural communities are not only extending beyond family lifelines but can also form a networked economic foundation for future generations. The role of women in the urban and rural workforce has expanded greatly in recent times.
Answer to question five
Amartya Sen in his capability approach talked about things that helps an individual or people to know their worth in a societ. Some of the importance of this approach are as follows:
Being able to live long
Being well nourished
Being healthy
Being literate
Being well clothed
Being mobile
Being able to take part in the life of the community

The Sen capability approach is a moral framework. It proposes that social arrangements should be evaluated primarily according to the extent of freedom people have to promote as well as achieving functions they value. Amartya Sen’s capability theory approach is a theoretical framework that involves two core normative claims.

First, the assumption that freedom to achieve well-being is of primary moral importance. And second, that freedom to achieve well-being must be understood in terms of people with capabilities. In other words, their real opportunities to do and be what they value. The approach has been developed into a variety of more specific normative theories. Such as those of social justice or the narratives of development ethics.

It has also given rise to a new highly interdisciplinary literature in the social sciences resulting in new social statistics and indicators. And to a new policy paradigm used mainly in developing studies, the so-called “human development approach” or human well-being.

The capability approach claims that freedom to achieve well-being is a matter of what people can do and be. And therefore, the kind of life they can effectively lead. As Sen argues, people’s commodities or wealth or their mental reactions (utility) are an inappropriate angle because they provide limited or indirect information about how life is going. Sen illustrates his point with the example of a standard bicycle.

This has the characteristics of “transportation”, but whether it will actually provide transportation will depend on the characteristics of those trying to use it. It could be considered a generally useful tool for most people to extend their mobility. Even if that person by some quirk, finds the bicycle charming, we should be able to notice within our assessment system that it still lacks transportation. This mental reaction also does not show that the same person would not appreciate transportation if it were actually available to them.
Answer to question six
The three core values of development are necessary for each and every individual living in the the society. Those three core values are as follows:
Sustenance ( the ability to meet basic needs)
Self esteem ( to be a person)
Freedom from servitude ( to able to choose)
The above listed items are the three core values for development, now let’s look at each one after the other.
Sustenance ( the ability to meet basic needs): The word sustenance means the food and drink that people, animals and plants need to stay alive and healthy. Also, it means the process of making something to continue to exist. All people have certain basic needs without which life would be impossible. These life-sustaining basic human needs include food, shelter, health, and protection. When any of these is absent or in critically short supply, a condition of “absolute underdevelop￾ment” exists. A basic function of all economic activity, therefore, is to provide as many people as possible with the means of overcoming the helplessness and misery arising from a lack of food, shelter, health, and protection. To this extent, we may claim that economic development is a necessary condition for the improvement in the quality of life that is development. Without sustained and continuous economic progress at the individual as well as the societal level, the realization of the human potential would not be possible. One clearly has to “have enough in order to be more. A good example of sustenance is when an individual can fend for himself when he or she graduates out of the university. If an individual from economic department graduates and fortunately gets a job as lecturer in the university of Nigeria and is well paid, in a month he or she receives one hundred and fifty thousand. Then, the individual can provide for his basic needs and also there can be said to be development.
Self esteem ( to be a person): The word self esteem means confidence in one’s own worth or abilities; self-respect. A second universal component of the good life is self-esteem—a sense of worth and self respect, of not being used as a tool by others for their own ends. All peoples and societies seek some basic form of self-esteem, although they may call it authenticity, identity, dignity, respect, honor, or recognition. The nature and form of this self-esteem may vary from society to society and from culture to culture. However, with the proliferation of the “modernizing values” of developed nations, many societies in develop￾ing countries that have had a profound sense of their own worth suffer from serious cultural confusion when they come in contact with economically and technologically advanced societies. This is because national prosperity has be￾come an almost universal measure of worth. Due to the significance attached to material values in developed nations, worthiness and esteem are nowadays increasingly conferred only on countries that possess economic wealth and technological power—those that have “developed.”
Freedom from servitude ( to able to choose): The word servitude is the state of being a slave or completely subject to someone more powerful. A third and final universal value that we suggest should constitute the meaning of development is the concept of human freedom. Freedom here is to be understood in the sense of emancipation from alienating material conditions of life and from social servitude to nature, other people, misery, oppressive institutions, and dogmatic beliefs,especially that poverty is predestination. Freedom involves an expanded range of choices for societies and their members together with a minimization of external constraints in the pursuit of some social goal we call development. Amartya Sen writes of “development as freedom.” W. Arthur Lewis stressed the relationship between economic growth and freedom from servitude when he concluded that “the advantage of economic growth is not that wealth increases happiness, but that it increases the range of human choice.” Wealth can enable people to gain greater control over nature and the physical environment (e.g., through the production of food, clothing, and shelter) than they would have if they remained poor. It also gives them the freedom to choose greater leisure, to have more goods and services, or to deny the importance of these material wants and choose to live a life of spiritual contemplation. The concept of human freedom also encompasses various components of political freedom, including personal security, the rule of law, freedom of expression, political participation, and equality of opportunity. Although attempts to rank countries with freedom indexes have proved highly controversial, studies do reveal that some countries that have achieved high economic growth rates or high incomes, such as China, Malaysia, Saudi Arabia, and Singapore, have not achieved as much on human freedom criteria.
Answer to question seven
The questions about getting happiness when there is an increase in income has been a thing of debate in time past up till now. Some argue that as income increases, so also does happiness is on the increase. Many held this view base on the fact that when one has money, he or she can solve many problems related to basic needs of man and even live a.comfortable life which is of cause very true. Take for instance the economic situation in Nigeria, no one would tell that if he or she receives an increased salary, sadness would develop him, but rather the reverse is the case. This is because in Nigeria, people are suffering, no money, the available money is only in the hands of a few. Now, our lecturers have not been paid for over eight month, if suddenly, they receive their complete salary with an increase in the salary, in truth, there will be joy and happiness.
On the other hand, many argued that, when is an increase in the income earned by people, there will not experience happiness. Take for instance, most of our Nigerian policians are caught on the wires of insecurity, fear, etc of affluence. Today, politicians are restless, they cannot go about freely because of fear of being attacked in order to embezzle from them, as such, they lack happiness and peace. They suffer from what is known as the bondage of affluence. For an ordinary man who has no money, some people still argued that there is freedom for such person and as such there is peace and happiness in the life of such person provided he has what can sustain him. If you check very well, even the holy scripture gave a clear point about this, at a point in the bible Jesus asked a rich man to give all he has to the poor and then come follow him, sad was he as he walked away. Also, st. Paul said that money is the root of all evil and as such gives no happiness.
Do we say there should be no increase in income again in order that weay be happy? Or do we still say that there should be abundant increase in income so that we can be happy? All this are complicating, according to a research carried out, One of the most well-known findings in the economic study of happiness is that, on average, happiness increases with income, but at a certain point diminishing returns set in. In other words, money can only buy a fixed level of happiness, after which extra income and wealth doesn’t make much difference. Emphasizing on this point, I’ll like to say that an increase in income is not bad an as such gives happiness to a certain point, but a situation whereby one has an elongated desire to own more than enough money only to himself leads to unhappiness which is the situation we are facing in Nigeria today, and with this act there can hardly be development in Nigeria. There is enough money in Nigeria to settle ASSU and to bring development in different sectors and aspects in Nigeria but the money is just in the hands of few greedy people. To summarize it all, when there is an increase in income there is happiness, but when there is an over increase in income indirectly acquired, the happiness turns to slavery, unfreedomness, and unhappiness.
Answer to question eight
Looking at the two terms: Economic growth and economic development, these will he us to make distinction and come out with a proposed outcome of the present situation in Nigeria.
Economic growth: This refers to the increment in the amount of goods and services produced by an economy. This means an increase in the real nationa inome/ national ouput in an economy, as such, economic growth is a positive change in the indicators of the economy, this makes it single dimensional in nature because it focuses only on the income of the people. Other distinguishing features of economic growth are as follows:
Economic Growth is the precursor and prerequisite for economic development.
Indicators of economic growth are GDP, GNI and per capita income.
Economic growth relates a gradual increase in one of the components of GDP; consumption, government spending, investment or net exports.
It is also considered as a traditional measure of development which indicates the quantitative rise of economy.
Economic growth only looks at the quantitative aspect. It brings quantitative changes in the economy.
Economic growth is concerned with increase in economy’s output.
It focuses on production of goods and services.
Economic growth is more relevant metric for assessing progress in developed countries.
Economic growth is relatively narrow concept as compared to economic development.
It is for short term/short period.
It is a material/physical concept.
Economic growth is measured in certain time frame/period.
The Industrial Revolution is an historically significant example of enhancements of all 4 variables for production, all these components being what contributes to economic growth. Automated assembly in factories shifted workers into more skilled and specialized roles, further enhancing technology. Skilled labor and enhanced technology in turn increased the capital goods available, resulting in greater production, and ended periodic famines, leading to increased populations.
Economic development: Economic Development is programs, policies or activities that seek to improve the economic well-being and quality of life for a community. What “economic development” means to you will depend on the community you live in. Each community has its own opportunities, challenges, and priorities. As said earlier in economic growth, before economic development can occur, there must be economic growth. Some of the distinguishing features of economic development are as follows:
Economic development is the quantitative and qualitative change in an economy.
Economic development refers to the reduction and elimination of poverty, unemployment and inequality with the context of growing economy.
Economic development means an improvement in the quality of life and living standards, e.g. measures of literacy, life-expectancy and health care.
Economic development includes process and policies by which a country improves the social, economic and political well-being of its people.
Economic development is multi-dimensional in nature as it focuses on both income and improvement of living standards of the people.
Economic development is concerned with the happiness of public life.
Economic development comes after economic growth. It is a positive impact of economic growth.
Economic development also refers to:
provision of sufficient and effective physical and social infrastructures
equal access to resources
participation of all in economic activities
equitable distribution of dividends of economy.
Economic development= Economic growth + standard of living
It refers to increase in productivity.
Indicators of economic development are:
Human Development Index (HDI)
Human Poverty Index (HPI)
Gini Coefficient
Gender Development Index (GDI)
Balance of trade
Physical Quality of Life Index (PQLI)
Economic development is the ends of development.
Achieving economic development is linked with end of poverty and inequality.
It is more abstract concept.
Economic development focuses on distribution of resources.
Following the pandemic induced recession in 2020, Nigeria’s economic growth recovered but macroeconomic stability weakened. Amidst global commodity shocks, a depreciating currency, trade restrictions, and monetization of the deficit, inflation is surging and pushing millions of Nigerians into poverty. Since 2021, Nigeria is also unable to benefit from the surging global oil prices, as oil production has fallen to historic lows and petrol subsidy continues to consume a larger share of the gross oil revenues.
In 2018, 40% of Nigerians (83 million people) lived below the poverty line, while another 25% (53 million) were vulnerable. With Nigeria’s population growth continuing to outpace poverty reduction, the number of Nigerians living in extreme poverty is set to rise by 7.7 million between 2019 and 2024.
While the economy is projected to grow at an average of 3.2% in 2022-2024, the growth outlook is subject to downside risks including further declines in oil production and heightened insecurity. Meanwhile, continued scarcity of foreign exchange and tighter liquidity could affect the economic activity in the non-oil sector and undermine the overall macroeconomic stability. The uncertainty is also expected to be accompanied by high inflation and continued fiscal and debt pressures.
Development Challenges
While Nigeria has made some progress in socio-economic terms in recent years, its human capital development ranked 150 of 157 countries in the World Bank’s 2020 Human Capital Index. The country continues to face massive developmental challenges, including the need to reduce the dependency on oil and diversify the economy, address insufficient infrastructure, build strong and effective institutions, as well as address governance issues and public financial management systems.
Inequality, in terms of income and opportunities, remains high and has adversely affected poverty reduction. The lack of job opportunities is at the core of the high poverty levels, regional inequality, and social and political unrest. High inflation has also taken a toll on household’s welfare and high prices in 2020-2022 are likely to have pushed an additional 8 million Nigerians into poverty.
Presently, Nigeria is facing economic hardship that even economic growth is hardly achieved, the problem emanates from the bad government we have, workers are not being paid, and the is high rate of unemployment in the country. We can.rightly say that, Nigeria at the present has not attended economic development, and even the economic growth that paves way for economic development is at risk. The main source of the country’s income ( crude oil) is falling out of value almost on daily basis due to the mismanagement by the government. We look forward to seeing another government in 2023 which will do away with this bad government and towards both the economic growth and development of the country.

Ngene Francisca onyeka
2019/249518
Economics
munaglint@gmail.com
1. The development could be seen as involving the provision of basic needs of the people, which is the target population as a subject rather than an object. It lays more emphasis on human potentialities, creativity, energy and the involvement of people and government with individuals, and group of communities leading to increase capacity to control or make decisions on issues and problems that affect the less developed countries.
As discussed by Dudley Seers [7], the purpose of development is to reduce poverty, inequality, and unemployment. To Seers, development involves reducing deprivation or broadening choice. It represents a multidimensional view of poverty that includes, hunger, illiteracy, illness and poor health, powerlessness, voicelessness, insecurity, humiliation.

2.Here, we will look at development occurring in a multi dimensional way, of cause, development cannot occur in one way bit in different ways. We will look at the key factors: Development involving changes in output, development involving shift in the allocation of productive resources and development as a reduction of poverty, inequality and unemployment.
Development involving changes in the composition output: Change in output can be defined as is defined as the percentage change in output per one percent change in all the inputs. This leads to what is known as returns to scale, and the reasons for return to scale are as follows:
Division of labor and increased efficiency of variable factors.
Organized and efficient coordination between the factors.
Indivisibility of factors of projection
Changes in the composition of output refers to changes not only in the out of a firm but in different parts, sectors, and aspects of production on an economy. For example, let’s say we have different aspects that contribute to the GDP of the nation such as: agricultural sector, companies, business sectors, etc. In each of these sectors, like in agriculture: if there is a change from the use of local implement for cultivation to the use of mechanized tools in cultivation, then there will be increase in the hectares of land cultivated, also, if there is an increase in the use of deposits as manure to the use of fertilizers on farm land, there will be a change in the yield of crops cultivated. Thus, it applies to other sectors in the economy. If there is a positive (increasing) change the the composition or different parts through which an output is given to the economy then development has occurred.
Development involving shift in the allocation of productive resources: Here, we’ll look at productive resources, it is defined as the natural, human, and capital re- sources used to make goods and services. For more understanding let’s look at what scarcity is all about, Scarcity means that because resources are limited, you can’t have every- thing you want. For an effective development to take place in an economy, there is need for reallocation of those productive resources in an economy to places where there are scarce. For example, if the government of Nigeria decide to establish more universities in the northern part of Nigeria, there will be need for the reallocation of well trained lecturers from the southern part of Nigeria to the north in order for effective education to take place. If there is no reallocation of lecturers to such area, then those employed as lecturers there may not deliver effective lessons to students since in the south we have more learned people than those in the north. The reallocation of productive resources is very necessary for development, otherwise there will be scarcity in other parts of the economy.
Reduction of poverty, inequality and unemployment: As said earlier in question, development can only occur when there is reduction in poverty, inequality and unemployment. For instance, in our country Nigeria, most people are unemployed and the result of such brings terrorism, stealing, and many other vices in the country, if the government can provide solutions to unemployment, youths would have something doing.
Poverty is must be fought by the government and inequality. All these boils down to the fact that the government is bad and corrupt, in a good government there is provision of employment, and other basic needs, if all these are adhered to, then it gives the summary of the first two answers which shows that development is multi dimensional.
3.As countries develop, their economies grow and living standards rise. This reduces the rate of poverty and allows more people to provide for themselves and their families and to live in dignity. The more a country develops the more jobs are created. This gives more people access to quality, stable work and to be able to provide for themselves and their families. Better economic opportunities have been shown to reduce violence and crime, as well as reduce the likelihood of conflict. Better jobs are also related to improved quality of life for people. As well as creating better jobs, development is important for a country because it improves business and trade. As countries develop more international companies move in and trade with other countries grows. This further improves the countries economy and also further increases the range of good jobs on offer.
Everybody wants to be able to meet their full potential. The increase in economic opportunities that development brings to a country shows how vital it can be.  Every child has the right to access quality education. Poorer countries often fail to meet the education needs of their young people. Increased development would improve the education systems of many poorer nations. A more educated population also improves the economic position of a country as people are able to move into more highly skilled jobs and create more innovative businesses. Better infrastructure helps a country immensely. Improving roads, railways, airports, communications and utilities makes a country more efficient. It allows people to move and send information more easily, as well as transport goods and provide services more widely. Better infrastructure improves a countries economy, which in-turn allows countries to spend more on better infrastructure. People in developed countries are more likely to live longer and happier lives. They are also generally more economically productive, hold better jobs, live in better quality housing and have access to better education and healthcare. All these factors contribute to a better standard of living for people in developed countries.

4.Women are the set of human beings that belongs to the female gender. They play the role of mothers, caretakers in family affairs, farmers, educators, entrepreneurs, teachers, e.t.c. It is historic that women play significant roles in societal development and ensure the stability, progress, and long-term development of nations. Women also play the role of decision-makers in homes. Globally, women contribute immensely to agricultural development, comprising about 43% of the world’s agricultural labor force. In some countries, the number of women involved in the agricultural labor force increases to over 70%. Available records indicate that in Africa alone, 80% of agricultural production comes from small farmers, most of whom are rural women. It is noteworthy that agriculture is the bedrock of national development as the best approach to food security, poverty reduction, job creation, and economic stability.
At home, women, notably mothers, play the role in decision-making about family meal planning and diet. Women also initiate and preserve the nutritional and healthcare programs of children at home. In addition, women are not only caring for their children at home but are also the primary caretakers of both children and elders in every country of the world. International studies indicate that women lead in finding solutions to the problems occasioned by a change of political and economic organizations in countries, thereby helping the family adjust to new realities and challenges. Indeed, women are the initiators who play important role in facilitating changes in family life. The UN Women Watch organization asserts that ” rural women play a key role in supporting their households and communities in achieving food and nutritional security, generating income, and improving rural livelihoods and overall wellbeing.
As educators, the role or contribution of women to society’s transition from pre-literate to the literate period is highly significant. Basic education is key to a nation’s ability to develop and achieve sustainable policies and programs. It is evident that education helps to improve agricultural productivity, enhances the status of girls and women, stabilizes population growth rates, enhances environmental protection and, increases the standard of living. It is the mother at home who most often urges children of both genders to attend and stay in school. The role of women is at the front end of the chain of improvement, leading to the family and the community’s long term capacity. The role of women in providing an improved and sustainable workforce is also significant and exciting. The women’s share of the global workforce is about 45.5%. Women’s formal and informal labor can transform a community from a relatively autonomous society to a participant in the national economy. It is obvious that despite the cultural, social, and political setbacks of women, small businesses controlled by women in rural communities are not only extending beyond family lifelines but can also form a networked economic foundation for future generations. The role of women in the urban and rural workforce has expanded greatly in recent times.
5. The capability approach is a theoretical framework that entails two normative claims: first, the claim that the freedom to achieve well-being is of primary moral importance and, second, that well-being should be understood in terms of people’s capabilities and functionings. Capabilities are the doings and beings that people can achieve if they so choose — their opportunity to do or be such things as being well-nourished, getting married, being educated, and travelling; functionings are capabilities that have been realized. Whether someone can convert a set of means – resources and public goods – into a functioning (i.e., whether she has a particular capability) crucially depends on certain personal, sociopolitical, and environmental conditions, which, in the capability literature, are called ‘conversion factors.’ Capabilities have also been referred to as real or substantive freedoms as they denote the freedoms that have been cleared of any potential obstacles, in contrast to mere formal rights and freedoms.

6.According to Prof. Goulet, at least three basic components as core values should serve as a conceptual basis and practical guidelines for understanding the “inner” meaning of development. These core values – sustenance, self-esteem, and freedom – represent common goals sought by all individuals and societies’? They relate to fundamental human needs that find their expression in almost all societies and cultures at all times.
Sustenance:
The life-sustaining basic human needs include food, shelter, health and protection. When any one of these is absent or in critically short supply, a condition of absolute “underdevelopment” exists.
Self-esteem:
A second universal component of good life is self- esteem- a sense of worth and self-respect- of not being used as a tool by others for their own ends. Due to the significance attached to material values in developed nations, worthiness and esteem are now-a-days increasingly conferred only on countries that possess economic wealth and technological power- those that have developed. Now-a-days the Third World seeks development in order to gain the esteem which is denied to societies living in a state of disgraceful “underdevelopment.” … Development is legitimized as a goal because it is an important, perhaps even an indispensable, way of gaining esteem.6
Freedom from Servitude:
Arthur Lewis stressed the relationship between economic growth and freedom from servitude when he concluded that “the advantage of economic growth is not that wealth increases happiness, but that it increases the range of human choice.” Wealth can enable a person to gain greater control over nature and his physical environment than they would have if they remained poor.
It also gives them the freedom to choose greater leisure. The concept of human freedom should encompass various components of political freedom, freedom of expression, political participation and equality of opportunity.
7. More income bring more happiness because;
* Money reduces intense stress: There was no significant difference in how often the participants experienced distressing events—no matter their income, they recorded a similar number of daily frustrations. But those with higher incomes experienced less negative intensity from those events.
* More money brings greater control: Those with higher incomes felt they had more control over negative events and that control reduced their stress. People with ample incomes felt more agency to deal with whatever hassles may arise.
* Higher incomes lead to higher life satisfaction: People with higher incomes were generally more satisfied with their lives.

Money is important to happiness. Ask anyone who doesn’t have it. Having a higher income, for example, can give us access to homes in safer neighborhoods, better health care and nutrition, fulfilling work, and more leisure time.
8. ECONOMIC GROWTH
* Economic Growth is the positive change in the indicators of economy.
* Economic Growth refers to the increment in amount of goods and services produced by an economy.
* Economic growth means an increase in real national income / national output.
* It refers to an increase over time in a country’s real output of goods and services (GNP) or real output per capita income.
* Economic growth is single dimensional in nature as it only focuses on income of the people.
* Earlier, economic growth was only measured in terms of Gross Domestic Product (GDP).
* At present, it is measured in terms of GDP, Gross National Income (GNI) and Per Capita Income.
* Economic Growth is the precursor and prerequisite for economic development.
* Indicators of economic growth are GDP, GNI and per capita income.
* Economic growth relates a gradual increase in one of the components of GDP; consumption, government spending, investment or net exports.
* It is also considered as a traditional measure of development which indicates the quantitative rise of economy.
* ECONOMIC DEVELOPMENT
*
* Economic development is the quantitative and qualitative change in an economy.
* Economic development refers to the reduction and elimination of poverty, unemployment and inequality with the context of growing economy.
* Economic development means an improvement in the quality of life and living standards, e.g. measures of literacy, life-expectancy and health care.
* Economic development includes process and policies by which a country improves the social, economic and political well-being of its people.
* Economic development is multi-dimensional in nature as it focuses on both income and improvement of living standards of the people.
* Economic development is concerned with the happiness of public life.
* Economic development comes after economic growth. It is a positive impact of economic growth.
* Economic development also refers to:
* provision of sufficient and effective physical and social infrastructures
* equal access to resources
* participation of all in economic activities
* equitable distribution of dividends of economy.
* Economic development= Economic growth + standard of living
* It refers to increase in productivity.
* Indicators of economic development are:
* Human Development Index (HDI)
* Human Poverty Index (HPI)
* Gini Coefficient
* Gender Development Index (GDI)
* Balance of trade
* Physical Quality of Life Index (PQLI)
* Economic development is the ends of development.
* Achieving economic development is linked with end of poverty and inequality.
* It is more abstract concept.
* Economic development focuses on distribution of resources.
*
* Nigeria’s economy grew by 3.6% in 2021 from a 1.8% contraction in 2020, underpinned on the supply side by 4.4% expansion in the non-oil sector against 8.3% contraction in the oil sector; non-oil growth was driven by agriculture (2.1%) and services (5.6%). On the demand side, public and private consumption were contributors to GDP growth. Per capita income grew by 1.0% in 2021. The fiscal deficit narrowed to 4.8% of GDP in 2021 from 5.4% in 2020, due to a modest uptick in revenues, and was financed by borrowing. Public debt stood at $95.8 billion in 2021, or about 22.5% of GDP.
* Annual average inflation stood at 17.0% in 2021 against 13.2% the previous year and above the central bank’s 6–9% target. Inflation was fueled by food price rises at the start of the year and exchange rate pass-through. The central bank kept the policy rate unchanged at 11.5% in 2021 to support economic recovery. The current account deficit narrowed to 2.9% of GDP in 2021 from 4% the preceding year, supported by recovery in oil receipts. Improved oil exports and disbursement of the SDR allocation of $3.4 billion (0.8% of GDP), pending decision on its use, helped to boost gross reserves to $40.1 billion in 2021. The ratio of NPLs to gross loans was 4.9% in December 2021 (regulatory requirement 5%), while the capital-adequacy ratio was 14.5% (regulatory benchmark 10%). Poverty and unemployment remained high, broadly unchanged from 40% and 33.3%, respectively, in 2020.

ANSWER
1. Development is a multi-dimensional process involving major changes in social structure, popular attitudes and national institutions as well as the acceleration of economic growth, the reduction of inequality, and the eradication of poverty. Growth is not the same as development. The process of development is far more extensive. Development is therefore defined as the whole process of desirable change in addition to economic growth must be present.
2. Economic development came to be redefined, in the 1970s, in terms of the reduction or elimination of poverty, inequality and unemployment within the context of a growing economy. If all three of these have declined from high levels, then beyond doubt this has been a period of development of the country concerned. If one or two of these central problem have been growing worse, especially if all three have, then it would be strange to call the result development even if per capita income doubled. Development is a human problem on how to ensure a progressively rising standard of living. Recently, the concept of economic development does not only involve reduction in poverty, unemployment and inequality but has been widened to include improvement in quality of life with cleaner environment, good health care and nutrition, better education and equality of opportunities (employment).
3. Yes. For a country to develop there must be removal of sources of unfreedom, poverty as well as tyranny, poor economic opportunities as well as systematic social depreciation, neglect of public facilities as well as intolerance or over activity of repressive state.
4. Women plays a vital role in the society. They play the role of mothers, caretakers in family affairs, farmers, educators, entrepreneurs, teachers etc. Women play a significant role in societal development and ensure the stability, progress and long-term development of nations. Women contributes to agricultural development. They lead in finding solution to the problems occassioned by change of political and economic organizations in countries. The role of women is at the front end of the chain of improvement, leading to the family and the community’s long term capacity.
5. Some important “beings” and “doings” in capability of function are:
A. Being able to live long: A lot of things kill people before their time. People need to stay safe, be conscious and and stay away from trouble. Do what makes you happy and live a healthy life.
B. Being healthy: A healthy man is a wealthy man. Always take good care of your health; eat balanced diet, do exercise and go for regular chech up. C. Being well-nourished
D. Being literate: Being versatile. Educate yourself by reading good books, when you read you tend to learn more and pick the good ones and practice.
E. Being well-clothed: The way you dress is the way you will be addressed. We should dress properly when in public places. Being well-clothed is one dressing in a way that he/she will be recognized in terms of the occupation that person does, that is, a doctor cannot wear a mechanic coverall and boot to work in a hospital.
F. Being mobile: We talk about freedom of movement.
G. Being able to take part in the life of the community: One should not show apathy in his community development. If their is need for contribution and support one should partake to the communitys development.
6. The core values of development are:
i. Sustenance: This is the ability to meet up with the provisions of basic needs of food, shelter, clothing and security for the improvement in the quality of life.
ii. Self-esteem: This is the feeling of being a person, worthiness, self-respect, independence and not being used by others. This may differ among countries, societies and culture. The importance of the natural feeling of worthiness, self esteem is measured by economic wealth and technological power. Self-esteem may be based on material values: higher income or wealth may be equates with higher worthiness. One may consider individual worthy based on their intellect or public service.
iii. Freedom from servitude: This is the freedom of choice and the elimination of all forms of dogmatic beliefs, oppressive institutions and the removal as much as possible all external constraints in the pursuit of developmental goals, gaining control over issues. It is freedom from three evils of want, ignorance and squalor. Human freedom; the ability to choose is essential for the well being of individuals. Freedom involves an expanded range of choice for societies: economic and political. It involves freedom f bondage, serfdom and other expliotative economic, social and political relationship.
7.There is not a perfect correlation between happiness and income: people could be poor but happy, and be rich and unhappy. Oncw per capita income increases from 1000 to 5000 naira the percentage of people who say they are happy tends to increase. I agree with this assertion because their is nobody that does not want happiness and money. People tened to be happy when they have money especially the poor ones and the rich will also be happy seeing their money increase. People will be happy if they have money because it will solve some of their problems while those that have money will not be happy because the solution to their problem is beyond monetary value. When one has the passion to learn a skill and not being able to afford for the training that person won’t be happy.
8. a. Economic growth refers to increase in the monetary or output growth of a nation in a particular period. While, economic development refers to the overall development of the quality of life in a nation which includes economic growth.
b. Economic growth is a uni-dimensional approach which deals with the increase in income or output of the nation, while economic development is a multi-dimensional approach that looks into the income and as well as the quantity of life of the nation.
c. Economic growth is a narrow concept than economic development and GDP is used to measure economic growth. While, economic development is a broader concept than economic development, it involves steady decline in agricultural shares in GNP and continuous increase in shares of industries.
d. Economic growth is about income. GDP, GNP, GNI are used to measure economic growth while economic development is about outcomes. Standard of living, industrial development and human development indicator are use in measuring economic development
e. Economic growth is a short term process while economic development is a long term process.
f. Economic growth is a quantitative sustained increase in the country’s per capita income while, economic development is a qualitative increase in the economic, social political and general welfare of the people. However, for development to take place economic growth is a necessary condition.
Nigeria is underdeveloped country (backward country) because it is characterized by mass absolute poverty, low per capita income and GDP, under-developed natural resources, high rate of unemployment, high dependency on imported goods, high population (high birth rate), large rural population and rapid urban migration, lower level of human capital development (health, education and skills).

Name: Okeke Michael Obinna
Department: Combined Social Science(Eco/pol)
Reg no: 2019/250019

1. It is said that Development is more complicated than that of Growth. Meaning it cannot just be achieved by raising productivity level or output level but by also involving changes in output composition shift in the allocation of productive materials and also by the reduction of inequalities,Unemployment and poverty.

2: Development is said to be more than raising productivity level but further involves total reduction or poverty and unemployment because it’s said the development is not possible without growth but growth is possible without development, meaning that growth and employment must be achieved first in order to achieve development.

3:Yes, I agree. According to Amartya sen, development must be judged by its impact on people, not only by changes in their income but more generally in terms of their choices, capabilities and freedoms. This means we should be concerned about the distribution of these improvements, not just the simple average for a society. Amartya sen came in terms with the fact that development definitely requires the sources of unfreedom and Poverty. Development is set to be achieved with a well built systematic economy which has no room for tyranny and social depreviation.

4:It is said that the biggest achievement of National development is the empowerment of women in the activities of the economy. Women in developed countries have been handed the positions and authorities to take certain decisions that affect the economy. They play the role of mothers, caretakers in family affairs, farmers, educators, entrepreneurs, teachers, e.t.c. It is historic that women play significant roles in societal development and ensure the stability, progress, and long-term development of nations. Women also play the role of decision-makers in homes.

5:The ability to live long to achieve certain goals, The ability to being well nourished and healthy,The ability to read and write and understand certain aspects of life also being mobile.

6: Sustenance: The ability to afford the basic necessities of life with bothering anyone.it’s just the ability to fend for one’s self.
Self esteem: The ability to value one’s self and to have to level of pride in one’s self.
Freedom from servitude: Also known as freedom of choice. The ability to have various options to pick from in order to suit one’s desire.

7:Happiness could be said to increase as the income increases but it isn’t said to be agreed by all scholars who states that there are some factors affecting happiness i.e Health, personal freedom, personal values, community and friends e.t.c

8:Economic Growth refers to the increase in monetary income or output growth of a state in a particular period of time probably a year or two.
Economic development refers to the overall performance of the quality of life in nation which also includes economic growth.
Nigeria as a country is said to be undergoing development and could be referred to as an underdeveloped country in terms of development and as of growth we are still growing.

Name:Amankwe victor ubachukwu
Reg no: 2019/242928
Department:Library and information science
1. The development could be seen as involving the provision of basic needs of the people, which is the target population as a subject rather than an object. It lays more emphasis on human potentialities, creativity, energy and the involvement of people and government with individuals, and group of communities leading to increase capacity to control or make decisions on issues and problems that affect the less developed countries.

As discussed by Dudley Seers, the purpose of development is to reduce poverty, inequality, and unemployment. To Seers, development involves reducing deprivation or broadening choice. It represents a multidimensional view of poverty that includes, hunger, illiteracy, illness and poor health, powerlessness, voicelessness, insecurity, humiliation and lack of access to basic infrastructures as discussed by Narayan et al.

2. From the time of Malthus onwards, economists, demographers and other social scientists have been debating whether and how high fertility and rapid population growth affect economic outcomes and vice versa. There are at least four basic forms of the debate.

Does a large number of children diminish a family’s present well being and future prospects?

Does rapid population growth adversely affect the overall performance of the economy and its ability to achieve and sustain general well being?

Does low income, or poverty, contribute to high fertility?

Is rapid population growth a symptom, rather than a cause, of low national output and poor economic performance?

In other words, the debates occur at both the macro- and the micro-levels and are about the direction of causality.

Despite these debates, a broad consensus has developed over time that as incomes rise, fertility tends to fall. There is little debate about the causal relationship between rising prosperity and declining fertility. Generally speaking, there has been a uniformly high correlation between national income growth and falling birth rates, and between family incomes and fertility. Economists and demographers for the most part agree that important ingredients of improved living standards, such as urbanization, industrialization and rising opportunities for non-agrarian employment, improved educational levels, and better health all lead to changed parental perceptions of the costs and benefits of children, leading in turn to lower fertility. In other words, there is no longer much debate about whether or not improved economic conditions, whether at the family level or at the societal level, lead to lower fertility. There are, of course, important differences between countries, and even within countries, regarding the timing and the pace of these changes, but that there is a causal relationship running from improved living standards to lower fertility is no longer in much dispute (National Research Council 1986).

Where debate remains active and at times quite contentious has to do with whether causality runs the other way—i.e. does reduced fertility improve the economic prospects of families and societies? Here there is anything but consensus, although, as I will argue in this paper, there appears to be a slowly growing convergence of views in favour of an affirmative answer to this question. This paper, in other words, addresses the question of whether reduced fertility, and more particularly public policies designed to reduce fertility, can lead to higher incomes and improved living standards.

A good deal of research, of course, has been conducted on this question. The paper attempts to summarize the present state of such research and the conclusions that emerge from it today. My purpose is to try to identify what policymakers can conclude from the present state of research and then to speculate on what might be accomplished between now and 2050 if policymakers were to pursue what I take to be the course of action suggested by the research findings

3. Development means freedom, according to Amartya Sen, perhaps the greatest development thinker of our times.

Over the centuries, there have been very many theories of development. According to 1998 Nobel prize winner, Amartya Sen, freedom is both the primary objective of development, and the principal means of development. The human being is an engine of change.

Sen is both the first Indian and the first Asian to win the Nobel prize for economics. In winning the Nobel prize, Sen was praised by the Swedish Royal Academy of Sciences “for his contributions to welfare economics” and for restoring “an ethical dimension” to the discussion of vital economic problems.

According to Sen, development is enhanced by democracy and the protection of human rights. Such rights, especially freedom of the press, speech, assembly, and so forth increase the likelihood of honest, clean, good government.

He claims that “no famine has ever taken place in the history of the world in a functioning democracy”. This is because democratic governments “have to win elections and face public criticism, and have strong incentive to undertake measures to avert famines and other catastrophes”.

Development is the process of expanding human freedom. It is “the enhancement of freedoms that allow people to lead lives that they have reason to live”. Hence “development requires the removal of major sources of unfreedom: poverty as well as tyranny, poor economic opportunities as well as systemic social deprivation, neglect of public facilities as well as intolerance or overactivity of repressive states”.

Sen argues that there are five types of interrelated freedoms, namely, political freedom, economic facilities, social opportunities, transparency and security. The state has a role in supporting freedoms by providing public education, health care, social safety nets, good macroeconomic policies, productivity and protecting the environment.

4. Women are the set of human beings that belongs to the female gender. They play the role of mothers, caretakers in family affairs, farmers, educators, entrepreneurs, teachers, e.t.c. It is historic that women play significant roles in societal development and ensure the stability, progress, and long-term development of nations. Women also play the role of decision-makers in homes. Globally, women contribute immensely to agricultural development, comprising about 43% of the world’s agricultural labor force. In some countries, the number of women involved in the agricultural labor force increases to over 70%. Available records indicate that in Africa alone, 80% of agricultural production comes from small farmers, most of whom are rural women. It is noteworthy that agriculture is the bedrock of national development as the best approach to food security, poverty reduction, job creation, and economic stability.

At home, women, notably mothers, play the role in decision-making about family meal planning and diet. Women also initiate and preserve the nutritional and healthcare programs of children at home. In addition, women are not only caring for their children at home but are also the primary caretakers of both children and elders in every country of the world. International studies indicate that women lead in finding solutions to the problems occasioned by a change of political and economic organizations in countries, thereby helping the family adjust to new realities and challenges. Indeed, women are the initiators who play important role in facilitating changes in family life. The UN Women Watch organization asserts that ” rural women play a key role in supporting their households and communities in achieving food and nutritional security, generating income, and improving rural livelihoods and overall wellbeing.

As educators, the role or contribution of women to society’s transition from pre-literate to the literate period is highly significant. Basic education is key to a nation’s ability to develop and achieve sustainable policies and programs. It is evident that education helps to improve agricultural productivity, enhances the status of girls and women, stabilizes population growth rates, enhances environmental protection and, increases the standard of living. It is the mother at home who most often urges children of both genders to attend and stay in school. The role of women is at the front end of the chain of improvement, leading to the family and the community’s long term capacity.

The role of women in providing an improved and sustainable workforce is also significant and exciting. The women’s share of the global workforce is about 45.5%. Women’s formal and informal labor can transform a community from a relatively autonomous society to a participant in the national economy. It is obvious that despite the cultural, social, and political setbacks of women, small businesses controlled by women in rural communities are not only extending beyond family lifelines but can also form a networked economic foundation for future generations. The role of women in the urban and rural workforce has expanded greatly in recent times.

5. The Capability Approach is defined by its choice of focus upon the moral significance of individuals’ capability of achieving the kind of lives they have reason to value. This distinguishes it from more established approaches to ethical evaluation, such as utilitarianism or resourcism, which focus exclusively on subjective well-being or the availability of means to the good life, respectively. A person’s capability to live a good life is defined in terms of the set of valuable ‘beings and doings’ like being in good health or having loving relationships with others to which they have real access.

The Capability Approach was first articulated by the Indian economist and philosopher Amartya Sen in the 1980s, and remains most closely associated with him. It has been employed extensively in the context of human development, for example, by the United Nations Development Programme, as a broader, deeper alternative to narrowly economic metrics such as growth in GDP per capita. Here ‘poverty’ is understood as deprivation in the capability to live a good life, and ‘development’ is understood as capability expansion.

Within academic philosophy the novel focus of Capability Approach has attracted a number of scholars. It is seen to be relevant for the moral evaluation of social arrangements beyond the development context, for example, for considering gender justice. It is also seen as providing foundations for normative theorising, such as a capability theory of justice that would include an explicit ‘metric’ (that specifies which capabilities are valuable) and ‘rule’ (that specifies how the capabilities are to be distributed). The philosopher Martha Nussbaum has provided the most influential version of such a capability theory of justice, deriving from the requirements of human dignity a list of central capabilities to be incorporated into national constitutions and guaranteed to all up to a certain threshold.

This article focuses on the philosophical aspects of the Capability Approach and its foundations in the work of Amartya Sen. It discusses the development and structure of Sen’s account, how it relates to other ethical approaches, and its main contributions and criticisms. It also outlines various capability theories developed within the Capability Approach, with particular attention to that of Martha Nussbaum.

6. (i) Life Sustenance, i.e., Ability to Meet Basic Needs: It is also known as “the ability to meet basic needs”. All the persons have certain basic needs which are necessary for the survival. They consist of food, shelter, health and protection. If any one of them is missing or in short supply in any economy it would represent the state of under-development. Therefore, the purpose of economic development and economic activity is to make the possible efforts whereby the helplessness and misery of the people which arises due to lack of food, shelter, health and protection could be removed. 
Self-Esteem, i.e., to be a Person:

A second universal component of the good life is a self-esteem, a sense of worth and self-respect. It means that the other people could not use him for their own ends. It also means that each person should be given his due respect and due right. Each person is desirous of his prestige, identity and recognition, though all f such values differ from country to country and from society to society. It is being observed now a days that when the process of economic development starts in a country the inequalities in the distribution of income increase. Because of such inequality the rich class considers itself superior to the poor. In this way, the poor segment of the society suffers from inferiority complex which leads to affect their efficiency.
Freedom from Servitude, i.e., to be Able to Choose:

The third universal value required for economic development is concerned with human freedom. By freedom it means the emancipation from alienating material conditions of life and from social servitude to nature, ignorance, other people, misery, institutions and dogmatic beliefs. As Arthur Lewis says: “Advantage of economic growth is not that wealth increases happiness, but that it increases the range of human choice”.

7. When we wonder whether money can buy happiness, we may consider the luxuries it provides, like expensive dinners and lavish vacations. But cash is key in another important way: It helps people avoid many of the day-to-day hassles that cause stress, new research shows.

Money can provide calm and control, allowing us to buy our way out of unforeseen bumps in the road, whether it’s a small nuisance, like dodging a rainstorm by ordering up an Uber, or a bigger worry, like handling an unexpected hospital bill, says Harvard Business School professor Jon Jachimowicz.

“If we only focus on the happiness that money can bring, I think we are missing something,” says Jachimowicz, an assistant professor of business administration in the Organizational Behavior Unit at HBS. “We also need to think about all of the worries that it can free us from.”

The idea that money can reduce stress in everyday life and make people happier impacts not only the poor, but also more affluent Americans living at the edge of their means in a bumpy economy. Indeed, in 2019, one in every four Americans faced financial scarcity, according to the Board of Governors of the Federal Reserve System. The findings are particularly important now, as inflation eats into the ability of many Americans to afford basic necessities like food and gas, and COVID-19 continues to disrupt the job market.

Buying less stress

The inspiration for researching how money alleviates hardships came from advice that Jachimowicz’s father gave him. After years of living as a struggling graduate student, Jachimowicz received his appointment at HBS and the financial stability that came with it.

“My father said to me, ‘You are going to have to learn how to spend money to fix problems.’” The idea stuck with Jachimowicz, causing him to think differently about even the everyday misfortunes that we all face.

8. Economic growth is considered to be an increase in the production of goods and services by per person in a population, compared from one time period to another. An increase in capital goods, labour forces, new territories, technology, and human capital can also contribute to economic growth. While, Economic development is the increase in the standard of living from a low-income economy to a high-income economy. It considers factors such as health, education, working conditions, domestic and international policies, and market conditions with a focus on improving conditions in developing countries. For example, all such factors were affected during the COVID-19 times, even coronavirus has impacted the global economy adversely.

NAME: Ugwu Sandra Amarachukwu
REG NO:2019/251531
DEPARTMENT:Library and information science
COURSE: ECeconomic development)
(1)
Dudley Seers suggests that development is when a country experiences a reduction or elimination of poverty, inequality and unemployment. Edgar suggested that development is when there is development of people (human development) and not development of things. Development means creating the conditions for the realization of human personality. Its evaluation must therefore take into account three linked economic criteria: whether there has been a reduction in (i) poverty (ii) unemployment (iii) inequality.

(2)
strictly economic terms, 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. Levels and rates of growth of “real” per capita gross national income (GNI) (monetary growth of GNI per capita minus the rate of inflation) are then used to measure the overall economic well-being of a population—how much of real goods and services is available to the average citizen for consumption and investment. 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. With few exceptions, such as in development policy circles in the 1970s, development was until recently nearly always seen as an economic phenomenon in which rapid gains in overall and per capita GNI growth would either “trickle down” to the masses in the form of jobs and other economic opportunities or create the necessary conditions for the wider distribution of the economic and social benefits of growth. Problems of poverty, discrimination,unemployment, and income distribution were of secondary importance to “getting the growth job done.” Indeed, the emphasis is often on increased output,measured by gross domestic product (GDP).
(3)
Development is the process of expanding human freedom. It is “the enhancement of freedoms that allow people to lead lives that they have reason to live. Thus poverty, malnutrition, poor sanitation, tyranny, poor economic opportunities, social deprivations, poor public facilities, intolerance, communalisation, ethnic centricity, repressive state apparatuses, lack of education, absence of health care, lack of security, corruption can all be termed un-freedoms.

(4)
They play the role of mothers, caretakers in family affairs, farmers, educators, entrepreneurs, teachers, e.t.c. It is historic that women play significant roles in societal development and ensure the stability, progress, and long-term development of nations. Women also play the role of decision-makers in homes. The woman performs the role of wife, partner, organizer, administrator, director, re-creator, disburser, economist, mother, disciplinarian, teacher, health officer, artist and queen in the family at the same time. Apart from it, woman plays a key role in the socio-economic development of the society.

(5)
The main reason why the capability approach holds that it is better to focus on the ends rather than the means, is that people differ in their ability to convert means into valuable opportunities (capabilities) or outcomes (functionings)
Sen argues that people’s well-being depends upon what they are actually capable of doing and being. Thus, he focused on something more direct such as human functionings and capabilities in terms of which the quality of life is analyzed.
Capability to function then finally refers to a person’s set of achievable functioning vectors. It is the ultimate measure of well-being for a person in Sen’s framework as it reflects the substantive (positive) freedoms and opportunities an individual enjoys in life.
The concept of “functionings” reflects the various things a person may value doing or being. The valued functionings may vary from elementary ones, such as being adequately nourished and being free from avoidable disease, to very complex activities or personal states, such as being able to take part in the life of the community and having self-respect.
For Sen, human “well-being” means being well, in the basic sense of being healthy, well nourished, well clothed, literate, and long-lived and more broadly, being able to take part in the life of the community, being mobile, and having freedom of choice in what one can become and can do.
(6)
Sustenance: The Ability to Meet Basic Needs All people have certain basic needs without which life would be impossible. These life-sustaining basic human needs include food, shelter, health, and protection.
Self-esteem: To Be a Person A second universal component of the good life is self-esteem. The feeling of worthiness that a society enjoys when its social, political, and economic systems and institutions promote human values such as respect, dignity, integrity, and selfdetermination.
Freedom: A situation in which a society has at its disposal a variety of alternatives from which to satisfy its wants and individuals enjoy real choices according to their preferencesa sense of worth and self-respect, of not being used as a tool by others for their own ends. All peoples and societies seek some basic form of self-esteem, although they may call it authenticity, identity, dignity, respect,honor, or recognition.
(7)
Clearly, happiness is part of human well-being, and greater happiness may in itself expand an individual’s capability to function. As Amartya Sen argued, “Utility in the sense of happiness may well be included in the list of some important functionings relevant to a person’s well-being.

(8)
Economic growth means an increase in real national income / national output while Economic development means an improvement in the quality of life and living standards, e.g. measures of literacy, life-expectancy and health care.
Economic growth is a stepping stone/bedrock to economic development without growth there will be no development.

Name: Eze Daniel Uchenna
Reg Number: 2018/244280
Department: Economics

1. Economic inequality is the unequal distribution of income and opportunity between different groups in the society. Poverty is the lack of income. Development however, seeks to eliminate the problem of poverty and inequality as there is an efficient distribution of productive resources as well as creating of income and output.
2. Development brings about an efficient allocation of scarce productive resources which eliminates problem of inequality. The increase in output and income reduces the poverty rate in the economy. A change in composition of output is brought about by a combination of various inputs into production caused by development.
3. Yes I agree to the assertion. Poor economic opportunities, tyranny can not let development occur in an economy and for development to thrive means a total removal of these problems.
4. The central role of women is to make the biggest impact on development, societies must empower and invest in women.
5. Being able to live long, being well nourished, being healthy, being literate, being well clothed, being mobile, being able to travel.
6. Sustenance: is the ability to meet the basic needs of life. E.g food, shelter, water. Self esteem: is the confidence in oneself to be able to do things. Freedom: is the ability to be choose and demand certain things.
7. There is no perfect correlation between happiness and higher incomes. People could be poor and happy and also be rich and unhappy so I do not agree there’s a direct correlation.
8. Economic Growth is defined as the rise in the money value of goods and services produced by all the sectors of the economy per head during a particular period. It is a quantitative measure that shows the increase in the number of commercial transactions in an economy. Economic growth can be expressed in terms of gross domestic product (GDP) and gross national product (GNP), which helps in measuring the size of the economy. It lets us compare in absolute and percentage change, i.e. how much an economy has progressed since last year. It is an outcome of the increase in the quality and quantity of resources and advancement of technology. WHILE Economic Development is defined as the process of increase in volume of production along with the improvement in technology, a rise in the level of living, institutional changes, etc. In short, it is the progress in the socio-economic structure of the economy. Human Development Index (HDI) is the appropriate tool to gauge the development in the economy. Based on the development, the HDI statistics rank countries. It considers the overall development in an economy regarding the standard of living, GDP, living conditions, technological advancement, improvement in self-esteem needs, the creation of opportunities, per capita income, infrastructural and industrial development, and much more.

1. Professor Dudley Seers’ argument believes that the measurement of development in an economy is not entirely about the net income but rather about how much growth has occurred in the economy.
This growth is seen as the outcome of the economy which further leads to development. As recorded and analyzed to be true “Economic development is not possible without Growth but, growth is possible without development happening.”
The measurement of development in an economy is done by the assessment of;
1. how much the rate of poverty has reduced or become eliminated in an economy.
2. How well inequality amongst the masses or between the government official and the masses are eradicated? Placing every individual and society at the same level.
3. How Unemployment is gravely reduced and possibly annihilated from the economy. Ensuring those who are employed don’t just have random jobs, but are gainfully employed. Thereby, eliminating underemployment and only provision of seasonal and voluntary unemployment made provision to be accommodated.

2. As previously discussed, we understand that the rate of outcomes is what determines the level of developing an economy has attained.
Changes in the composition of output refer to the changes consumers make in their decisions on how to spend their incomes based on their tastes, preferences and market prices.
The allocation of productive resources becomes based on needs and the actual value of the population, not that influenced by bias. Baring in mind that resources are not limited to money or natural minerals but also skills, knowledge, energy, time and much more.
Positive changes in the reduction and elimination of poverty, inequality and unemployment.
These three (3) points indicate how an upward movement in the development of an economy can occur alongside a rise in output.

3. Development according to Amartya Sen is the process of expanding real freedom that people enjoy. It removes the constraint in achieving our purpose, goal and aim.
This means it requires the removal of major sources of unfreedom, poverty as well tyranny, and social deprivation.
The essence is that people can achieve and do whatever they want regarding self-development and not focus on the cost of such improvement in the meantime.

4. Women are very important in the building of a nation. They play the role of mothers, caretakers in family affairs, farmers, educators, entrepreneurs, teachers, etc. It is historic that women play significant roles in societal development and ensure the stability, progress, and long-term development of nations. It shows clearly that supporting a stronger role for women contributes to economic growth, improves child survival and overall family health, and reduces fertility, thus helping to slow population growth rates. In short, investing in women is central to sustainable development.
Also, the empowerment of women will improve the amount of output and positive outcomes in the economy thereby, aiding economic development.

5. Being well-nourished: in a developed economy, the masses are expected to be well-fed, eating a healthy and balanced diet.
Being able to be involved and take part in the life in the life of the community. Engaging in a developmental and entertaining activity
Being well clothed: the masses should be equipped enough to dress according to the weather conditions and events. During the dry season, individuals should be able to put on sweaters and socks.
Being mobile: Mobility refers to the easy movement of human labour and resources. The ability to change jobs due to location or change in career choices and also, the ability for resources to be transported from one state to another.

6.
1.Sustenance: the ability to meet basic needs. This is a measurement of well individuals, families, society and a nation can thrive,
2. Self-esteem: To be a person. This implies seeing oneself in the light of positivity and optimism.
3. Freedom from servitude: The ability to choose who to serve and possibly earn from. Not limiting service to servanthood.

7. There is an absence of a perfect correlation between happiness and income. People can be poor and happy, Rich and unhappy.
There are however factors that could affect the happiness of an individual. For instance, financial conditions, family relations, work satisfaction, personal values and personal freedom.
These factors can alter the state of happiness in an individual, whether or not money/more income is present.

8. Economic Growth is a narrower concept than Economic Development which is broad. It is a short-term process whereas, Economic Development is a long-term process which leads to progressive changes in the socioeconomic structure of a country.
The measurement of economic growth is done through an increase in income which involves GDP, GNP and GNI whereas, Economic Development is a sufficient condition of improving human welfare, raising the standard of living and the reduction of poverty.