ECO. 361 Online Discussion/Quiz–19-12-2022 (Understanding the fundamentals of Development)

1:Raising People’s Living Levels i.e Incomes and consumption,levels of food, medical services, education through relevant growth process
* Creating conditions conducive to the growth of people’s self-esteem through the establishment of social, political and economic systems and institution which promote human dignity and respect.
* Increasing people’s freedom to choose by enlarging the range of their choice variables

2*:Gross Domestic Product (GDP)-It shows how much a country makes from it’s product over the course of a year
* Gross National Product -It is the GDP of a nation together with any investment earned abroad minus the income earned by non nationals within a nation.
*Gross National Product per Capital:It is GNP divided by the population
*Human Development index;
a Life Expectancy Index
b Education Index
c Mean years of schooling index
d Expected Years of Schooling index

3 Development Economics is a branch of Economics that deals with economic aspects of development in low and middle income countries.It focuses on improving the potential for the mass of the population as well as promoting economic development,economic growth and structural change

4.Reasons for studying Development Economics include;
Economic Forecaster
Development economists know the reason for unemployment
Development economists earns a high paying jobs
It helps us to understand market dynamics
It makes us able to make a sound decision based on personal spending
Learning to optimize our quick cognitive response
How to leverage economic tools

5: Alfred Sauvy was a demographer,anthropologist and a historian of the french Economy. Sauvy Coined the term Third World (Tiers Monde) in reference to countries that were not aligned with either the communist Soviet bloc or the capitalist NATO bloc during the cold war

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.
“Human development is the expansion of people’s freedom to live long, healthy and creative lives; to advance other goals they have reason to value; and to engage actively in shaping development equitably and sustainably on a shared planet. People are both the beneficiaries and the drivers of human development, as individuals and in groups”
Source: Human Development Report, November 2010
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”.
The Nobel Economist Amartya Sen writing in “Development as Freedom”, sees development as being concerned with improving the freedoms and capabilities of the disadvantaged, thereby enhancing the overall quality of life. Sen pursues the idea that development provides an opportunity to people to free themselves from the suffering caused by
o Early mortality
o Persecution
o Starvation
o Illiteracy
Development should be about increasing political freedom, cultural and social freedom and not just about raising incomes.

Millennium Development Goals (MDGs)
The Millennium Development Goals represent an ambitious set of development targets established in 2000 and designed to be met as fully as possible by the end of 2015.
Eradicate extreme poverty and hunger
Achieve universal primary education
Promote gender equality and empower women
Reduce child mortality
Improve maternal health
Combat HIV / AIDS, malaria and other diseases
Ensure environmental sustainability
Develop a global partnership for development

2. What is economic development?
As an economics student, you are must be definitely familiar with economic growth. But what is economic development? Is it the same as economic growth?
No, they don’t mean the same thing.
Economic development is the process of improving the standard of living and well-being of the people in an economy.
Fundamentally, economic development is about the expansion of people’s capabilities (people development) over time. Therefore, economic development goes beyond increasing the income and output associated with economic growth and also takes into account poverty reduction and income redistribution.
Economic growth is important for economic development: the more goods and services produced, the more likely the standard of living is to improve. Nevertheless, there is no guarantee that an economy experiencing economic growth will also experience economic development.
What are some developmental measures?
There are a few developmental measures. They are:
HDI – Human Development Index.
HPI – Human Poverty Index.
Multidimensional Poverty Index.
GPI – Genuine Progress Indicator.
Just as there are indicators to measure and quantify economic growth, the same is true for economic development. Economic development indicators are used to measure the well-being of people by considering factors that influence the standard of living in an economy.
Economic development is the process of improving the standard of living and well-being of the people in an economy.
Fundamentally, economic development is about the expansion of people’s capabilities (people development) over time. Therefore, economic development goes beyond increasing the income and output associated with economic growth and also takes into account poverty reduction and income redistribution.
Economic growth is important for economic development: the more goods and services produced, the more likely the standard of living is to improve. Nevertheless, there is no guarantee that an economy experiencing economic growth will also experience economic development.
What are some developmental measures?
There are a few developmental measures. They are:
HDI – Human Development Index.
HPI – Human Poverty Index.
Multidimensional Poverty Index.
GPI – Genuine Progress Indicator.
Just as there are indicators to measure and quantify economic growth, the same is true for economic development.
Economic development indicators are used to measure the well-being of people by considering factors that influence the standard of living in an economy.
Measurement of economic development: The Human Development Index (HDI)
The measurement of economic development can be done through the human development index (the HDI).
This is the most used index to measure economic development. It takes the following three factors into account:
Health. The HDI measures the average life expectancy in a specific country and compares it to the global average.
Education. The HDI measures the mean years of schooling and expected years of schooling in a country.
Standard of living. The HDI measures the gross national income (GNI) per head, using the principle of purchasing power parity, PPP.
In determining the HDI, each component has an equal weighting of 33%. The closer the HDI is to 1, the more developed the country is.
The table below shows the top five countries with the highest HDI ranking with their GDP and GDP per capita rankings.
HDI rank Country HDI score GDP rank GDP per capita rank
1 Norway 0.957 32nd 4th
2 Ireland 0.955 27th 3rd
3 Switzerland 0.955 20th 2nd
4 Hong Kong 0.949 40th 15th
5 Iceland 0.949 110th 7th
Table 1. HDI, GDP and GDP per capita ranking.
As you can see, despite these countries having the highest ranking in terms of economic development, they do not maintain the highest ranking in GDP, and there is a disparity in GDP per capita which is an indicator of economic growth. This illustrates how a country’s level of income and output does not directly translate to a high level of economic development.
Strengths of the HDI
As the HDI is the most commonly used measure of economic development, it has many strengths:
Reliable. The information is updated on an annual basis and sourced reliably.
Accurate. The HDI is superior to single indicators as it uses two types of social data (health and education) along with one type of economic data, which gives a broader perspective.
Useful. The HDI is a very useful tool for governments aiming to devise policies focusing on economic and human development.
Weaknesses of the HDI
These are the main weaknesses of the Human Development Index as a measure of development:
Simplicity. It has been criticized for being too simple and therefore unable to give a real representation of the level of development in an economy. This is backed by the argument that economic and human development are broader concepts with far greater dimensions than the ones captured in the HDI.
Not equally weighted. All the factors used to calculate a country’s HDI have equal weight, but there is a concern that wealth (GNI) still has too much weight in the HDI. This fact leaves room for richer countries to artificially manipulate their rankings. In addition, the GNI does not take into consideration the hidden economy which tends to make up a larger proportion of less developed countries’ economies.
Measurement of economic development: The Genuine Progress Indicator (GPI)
The Genuine Progress Indicator builds off GDP as an economic indicator by including measures of the impact of economic growth on the environment as well as various social factors. The GPI takes GDP into consideration while also measuring the negative impacts of growth.
Measurement of economic development: The Human Poverty Index (HPI)
The Human Poverty Index complements the HDI as it is an indication of the standard of living in an economy. It considers the level of poverty and deprivation of a community in a country. The HPI uses two indices:
The HPI-1 is used to measure developing countries.
The HPI-2 is used for developed countries that are part of the Organization for Economic Co-operation and Development (OECD).
The HPI has limited utility as it combines the average deprivation levels of each dimension and it can’t be linked to any particular group of people.
Measurement of economic development: The Multidimensional Poverty Index
The MPI replaced the HPI in 2010. It differs from the HPI as it assesses poverty at the individual level.
Economic happiness and economic growth
Can be happiness linked to economic growth? In economics, measuring happiness is very subjective. This would involve the evaluation of a wide range of factors that affect wellbeing, quality of life, and self-reported levels of happiness.

Some of these factors are:
Income
Quality of consumption
Quality of work
The welfare of family members
Leisure
Environment, politics, and other non-economic factors that can affect happiness, such as religious freedom.
The Gross Domestic Happiness Index
Despite the number of factors that impact happiness and how subjective it is, there is an index that economists use to measure happiness: the Gross Domestic Happiness (GDH) index.
From the neoclassical economic perspective, higher income levels correlate with higher levels of utility and economic welfare, as a person is more able to purchase the goods and services (food, shelter, healthcare, and education) that would improve their quality of life.
‘Happiness’ is a complicated concept to quantify for measuring purposes, but many economists claim ‘psychological surveys’ can give a reliable measure of the level of happiness or satisfaction people are experiencing in their lives.
Does economic growth increase happiness?
As for the relationship between happiness and economic growth, the Easterlin Paradox pokes a hole at it. Upon attaining a certain level of per capita income developed countries failed to increase happiness according to the national happiness polls.
According to this paradox, it would seem that a person’s absolute income whilst living in a rich country is not as important as their relative income. Therefore, people were more concerned with being ‘comparatively better off than those around them’ than simply having money.
In 2008, Betsey Stevenson and Justin Wolfers refuted this paradox, claiming that there was in fact a genuine connection between GDP per capita and happiness.
Other reasons why a rising GDP may not lead to increased happiness include the fact that the allocation of resources for the purpose of economic growth may bring about negative costs to society, which will impact its happiness levels.

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 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.

4.
Why should you study economics? There is a variety of reasons a student would choose to major in a given discipline. These choices are inspired by different reasons, from family background to the environment or peer group association. Or it could even be for a choice of career or passion. Whichever it is, it is important to understand some basic insight about studying economics.

Economics in summation is a study of people’s behavior to manage and use resources in order to meet human needs. Every student pursuing economics as a career is open to a wide range of other career opportunities. This is because studying economics does not limit you to just becoming an economist.

A strong reason to major in economics would be to have a deep understanding of how economics works from an individual level to a nation. You understand the ever-changing world of businesses, market flow, opportunities, and threats.

Economics is a social science broken down into two classes; macroeconomics and microeconomics. Macroeconomics focuses on the national and international levels of the economy, while microeconomics focuses on the economic outcome as it directly affects individuals, businesses, and organizations. It also explains how people react to changes in the prices of commodities and why they behave when there is a change in the price level. There are also three major types of economic systems; capitalism, socialism, and communism.

Also read 10 Reasons Why You Should Study International Relations

10 Reasons Why You Should Study Economics
Students who choose to study economics, gain a lot of privileges. They develop problem-solving skills, understand how complex markets work and are able to work in any organization. Here are 10 reasons why you should study economics as a major;

1. Economic forecaster
A career path as an economist brings comfort as well as challenges. Economic forecasting is an effort to predict future economic outcomes. An economist could forecast inflation rates, unemployment, or fiscal deficit at an aggregate level. An economist practically evaluates risks, and demonstrate thorough and deep thinking process to arrive at forecast estimates. Forecast results are sometimes generated annually but at other times updated frequently. Though there are several data analytic tools to help economists achieve forecast results, they also need the statistical knowledge and models to arrive at the result for particular variables.

2. Economists know reasons for unemployment
An economist would define unemployment as a part of the labor force actively seeking employment. Unemployment consequentially has an adverse effect on a country’s economy, especially when the rates are high. This can then draw the attention of the media and other interested parties. There are numerous reasons for unemployment in a country. But when a country experiences a recession or economic downturn, the private sector may be forced to lay off staff to reduce costs. Overall economists are better equipped with the knowledge to understand and predict potential causes of unemployment. They are also in the position to provide solutions to fix or prevent rising unemployment rate.

3. Economists earn a high-paying Job
This is another reason why some students study economics as a major. A major in economics could land you different jobs. For instance as a market research analyst, you would be required to apply skills like graphical representation, statistical skills, and a critical thinking. Or as an economic consultant, you are needed across sectors like government, finance, education, healthcare and business where you analyze and research economic strategies to help enhance performance.
If you have analytical thinking skill, and want to understand how to coordinate and interpret data using mathematical formulas and statistics, you can major in economics. There are models learned to predict the effect of policy decisions, industry tendencies, climate change, and investment.

4. You will understand the Market dynamics
Market dynamics are simply those factors that impact the market. An economist’s perspective would involve demand and supply, opportunity cost, scarcity, and equilibrium. The course will expand your vocabulary and knowledge to understand how the market works. Even if you would not be working primarily as an economist, your knowledge will help you understand your organization’s market and can to influence the strategic decision in improving your organization’s performance.

5. Able to make a good decision on personal spending
There is a funny idea that economists are stingy people. This is ill-informed stereotype. Economists are about making thoughtful economic decisions. Learning to major in this course would enlighten your scope of reasoning. You will learn about market behavior and organization trends. Eventually, with enough passion, would turn into economically sound and financially healthy habits. For example, learning about willingness to pay theory could help you develop your own spending habits.

6. Learning to optimize your quick cognitive response
Economics, as highlighted earlier, is a course that would strengthen and stretch your analytical thinking making you throughtful in your reasoning. Of course, it includes using models and statistical formulas but it is a little bit more than these models or demand curves. So many theory of economics deals with the study of human rational behavior or reactions. This sometimes are unpredictable because they are largely based on assumptions. Hence, improving your cognitive reasoning is a plus for any student interested and willing to take up the challenge. Optimizing your mind to learn cognitive prejudice goes a long way to affect important economic decisions.

7. How to leverage economic tools
Economics will obviously teach you many theories and various economic tools for data analysis to apply in any real-world situation. You learn how to generate data to make good business decisions. It is a logical method to assume the optimum use of scarce resources, distinguish vacant alternatives and choose the best alternatives to get a desirable result.

8. Economies of scale
Economies of scale are cost advantages earned by companies when the output becomes productive. Good knowledge of this as an economist can help a company to improve output and reduce costs. It is also important to note that the size of business matters, the bigger the size the more cost that would be saved. Costs can be variable or fixed costs.

9. You would be able to checkmate your spending habits
As an economics student, you have the advantage to understand how money works and how to use your resources optimally. If you have a business or managing someone’s business, you’d be able to use the problem-solving skills developed as an economist. You will value money more and be open for ways to make better use of money.

10. You can be an economist adviser
Even without graduating from school, you can get a side job as an economist’s adviser. You can help people manage their business resources and get paid while at it. As an economist, you can also get a job as a government official to help grow the economy.

5. The economically underdeveloped countries of Asia, Africa, Oceania, and Latin America, considered as an entity with common characteristics, such as poverty, high birthrates, and economic dependence on the advanced countries. 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.” 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 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. The expression third world was used at the 1955 conference of Afro-Asian countries held in Bandung, Indonesia. In 1956 a group of social scientists associated with Sauvy’s National Institute of Demographic Studies, in Paris, published a book called Le Tiers-Monde. Three years later, the French economist Francois Perroux launched a new journal, on problems of underdevelopment, with the same title. By the end of the 1950’s the term was frequently employed in the French media to refer to the underdeveloped countries of Asia, Africa, Oceania, and Latin America.
Characteristics
The underdevelopment of the third world is marked by a number of common traits; distorted and highly dependent economies devoted to producing primary products for the developed world and to provide markets for their finished goods; traditional, rural social structures; high population growth; and widespread poverty. Nevertheless, the third world is sharply differentiated, for it includes countries on various levels of economic development. And despite the poverty of the countryside and the urban shantytowns, the ruling elites of most third world countries are wealthy. This combination of conditions in Asia, Africa, Oceania and Latin America is linked to the absorption of the third world into the international capitalist economy, by way of conquest or indirect domination. The main economic consequence of Western domination was the creation, for the first time in history, of a world market. By setting up throughout the third world sub-economies linked to the West, and by introducing other modern institutions, industrial capitalism disrupted traditional economies and, indeed, societies. This disruption led to underdevelopment. Because the economies of underdeveloped countries have been geared to the needs of industrialized countries, they often comprise only a few modern economic activities, such as mining or the cultivation of plantation crops. Control over these activities has often remained in the hands of large foreign firms. The prices of third world products are usually determined by large buyers in the economically dominant countries of the West, and trade with the West provides almost all the third world’s income. Throughout the colonial period, outright exploitation severely limited the accumulation of capital within the foreign-dominated countries. Even after decolonization (in the 1950’s, 1960’s, and 1970’s, the economies of the third world developed slowly, or not at all, owing largely to the deterioration of the “terms of trade”-the relation between the cost of the goods a nation must import from abroad and its income from the exports it sends to foreign countries. Terms of trade are said to deteriorate when the cost of imports rises faster than income from exports. Since buyers in the industrialized countries determined the prices of most products involved in international trade, the worsening position of the third world was scarcely surprising. Only the oil-producing countries (after 1973) succeeded in escaping the effects of Western, domination of the world economy.

Answers:
1.Accordingly, production of more life sustaining necessities reduces poverty; if shelter is secured citizens do not worry of where to lay down their tired head after a long day of work. It enhances productivity thereby improving the economy. When also good healthcare services are adequately provided corresponding with food production, citizens productivity is enhanced which means development conversely development must augment shelter, food, healthcare production before it can be stamped as one.
Development should also involve revising the standard of living of citizens, providing more jobs, better education and greater attention to cultural and human values all of which enhances human wellbeing and productivity of individuals.
When an economy is said to be developed, then several choice of its citizens should be achievable, citizens should be able to relax and do all social activities without fear of the unknown, individuals nation should be free from servitude and dependence, not only in relation to other people and nation states, but also to the forces of ignorance and human misery.

2.United Nations (UN) human development index measures a countries average achievement in three faces of development.
-Life Expectancy
Life expectancy is the average number of years newborn babies will live if subjected to the mortality risks prevailing for their cohorts at the time of their births. In Nigeria, as of 2020 life expectancy index, an average Nigerian is not expected to live beyond 55 years and that means when a citizen is about 60 year their productivity might not count for development.
Educational Attachment
The level of literacy (formal and informal) in terms of education can be used as an index to measure the level of development in an economy and it can be used in term of percent of children be6ween the age of 5-15 in school.
-Adjusted Real Income
Adjusted real income refers to the income obtained after deduction of tax, it is what can be used to purchase goods and services, the higher the real income, the higher the purchasing power of the income , that means, more goods and services can be purchased and thus leading to economic development, one of the index used to measure economic development.

3.Most countries of Latin America, Africa and Asia were mostly affected by the effect of
world war 2 after most industries were destroyed during the war and that affected the economy of European countries also affecting the economies of Africa, Asia and Latin America.
Following the great depression of 1939-1945 and the effect of the war the standard of living of citizens became low; thus food was barely available coupled with famine and death; most countries were affected since there was no importation or exportation of commodities.

4.Many reasons are compiled for the study of development economics:
-Moral and Ethnic reason
Poverty is not good variable for the development of economy; if citizens a poor, the economy cannot tend to development plus if inequality is dormant; hence our study of development is our right.
-Our own welfare
s
-Private interest
For job opportunities getting more knowledge about development.
-Intellectual Curiosity
To help solve question about the economy

5.The term Third World has long served to describe countries of Africa, Asia, and Latin America that have been seen to share relatively low per-capita incomes, high rates of illiteracy, limited development of industry, agriculture-based economies, short life expectancies, low degrees of social mobility, and unstable political structures.
The 120 countries of the Third World also share a history of unequal encounters with the West, mostly through colonialism and globalization.
Alferd sauvy (31 october 1898 – 31october 1990) was a demographer, anthropologist, and a historian of French economy, sauvy coined the term third world (“tiers monde ) in reference to countries that unaligned with either the communist soviet bloc or the capitalist NATO bloc during the cold war. During the Cold War (1945–1991), 

1.production of more life sustaining necessities reduces poverty; if shelter is secured citizens do not worry of where to lay down their tired head after a long day of work. It enhances productivity thereby improving the economy. When also good healthcare services are adequately provided corresponding with food production, citizens productivity is enhanced which means development conversely development must augment shelter, food, healthcare production before it can be stamped as one.
Development should also involve revising the standard of living of citizens, providing more jobs, better education and greater attention to cultural and human values all of which enhances human wellbeing and productivity of individuals.
When an economy is said to be developed, then several choice of its citizens should be achievable, citizens should be able to relax and do all social activities without fear of the unknown, individuals nation should be free from servitude and dependence, not only in relation to other people and nation states, but also to the forces of ignorance and human misery.

2.United Nations (UN) human development index measures a countries average achievement in three faces of development.
-Life Expectancy
Life expectancy is the average number of years newborn babies will live if subjected to the mortality risks prevailing for their cohorts at the time of their births. In Nigeria, as of 2020 life expectancy index, an average Nigerian is not expected to live beyond 55 years and that means when a citizen is about 60 year their productivity might not count for development.
Educational Attachment
The level of literacy (formal and informal) in terms of education can be used as an index to measure the level of development in an economy and it can be used in term of percent of children between the age of 5-15 in school.
-Adjusted Real Income
Adjusted real income refers to the income obtained after deduction of tax, it is what can be used to purchase goods and services, the higher the real income, the higher the purchasing power of the income , that means, more goods and services can be purchased and thus leading to economic development, one of the index used to measure economic development.

3.Most countries of Latin America, Africa and Asia were mostly affected by the effect of
world war 2 after most industries were destroyed during the war and that affected the economy of European countries also affecting the economies of Africa, Asia and Latin America.
Following the great depression of 1939-1945 and the effect of the war the standard of living of citizens became low; thus food was barely available coupled with famine and death; most countries were affected since there was no importation or exportation of commodities.

4.Many reasons are compiled for the study of development economics:
-Moral and Ethnic reason
Poverty is not good variable for the development of economy; if citizens a poor, the economy cannot tend to development plus if inequality is dormant; hence our study of development is our right.
-Our own welfare
s
-Private interest
For job opportunities getting more knowledge about development.
-Intellectual Curiosity
To help solve question about the economy

5.The term Third World has long served to describe countries of Africa, Asia, and Latin America that have been seen to share relatively low per-capita incomes, high rates of illiteracy, limited development of industry, agriculture-based economies, short life expectancies, low degrees of social mobility, and unstable political structures.
The 120 countries of the Third World also share a history of unequal encounters with the West, mostly through colonialism and globalization.
Alferd sauvy (31 october 1898 – 31october 1990) was a demographer, anthropologist, and a historian of French economy, sauvy coined the term third world (“tiers monde ) in reference to countries that unaligned with either the communist soviet bloc or the capitalist NATO bloc during the cold war. During the Cold War (1945–1991),

NAME: DIKE JOHN CHUKWUDOZIE
REG NO:2018/241837
DEPARTMENT: ECONOMICS

(1) The believe and reasoning of professor Michael Tadaro emphasised on three major objectives of development in any Economy. The first objective of development of professor Michael Todaro emphasized on is “raising standard of living and individual self esteem”. This objective can be achieved if the economy makes adequate effort through its Economic policies to provide more job opportunities for it working population, making sure workers earn a high income and providing good education for its population to further standardize them with the technical ability necessary to fasten the Economy. When this is in place the people’s standard of living and self esteem will be retained.
The second objective according to Professor Michael Todaro is to “expand Economic and Social choices and reducing fear”. The expansion of Economic and Social choices is a media of making sure there is sufficient job opportunities, educational institutions etc available to individuals of an Economy ,and ensure that the population of an Economy will have a choice while engaging in Economic and social activities. This also takes away fear and fastens self esteem.
The third objective is to produce more life saving neccessities such as food,shelter and health care and widening their distribution. The aim of every economy is to provide its population with life saving necessities such as food, shelter and health care,the economy also aims to expanding the rate at which those who make up the economy population to have access to these life saving necessities. This aim is achieved by the economy through development programs, ensuring the availability of the life saving necessities,and improving in their distribution.
(2) The set of indices developed by UN and other global agencies on how to measure development includes:
(i) UN’s Human Poverty Index (HPI): This index measures deprivation using percentage of people expected to die before age 40, percentage of illiterate adults, percentage of people without access to health services and safe water and the percentage of underweight children under five.
Countries with a high mortality rate as against it low natality rate is considered undeveloped using this index. Countries suffering from high mortality rate is faced with lack of adequate health care facilities for increasing life expectancy and long life, increased level of illiteracy due to lack of education etc. Countries with low Human Poverty Index(HPI) is considered developed using this index,while countries with high HPI is considered under developed.

(ii) UN’s Human development Index(HDI): This index measures a country’s average achievements in three basic dimensions of human development:
(a) Life expectancy
(b) Educational attainment and
(c) Adjusted real income
The UN’s Human development Index(HDI) measures development using the above dimensions. Countries with a higher HDI is assumed to be developed or experiencing development,while countries with lower HDI is assumed to be under developed as in the case of many African Countries like USA,France,South Korea etc are examples of countries with high HDI.

(3) After the world war II,there was great depression which affected virtually all the economies of the world. The Economies of less developed countries(LDCs) were different from the developed countries that basic Economics could not explain the behavior of less developed countries(LDCs) economies. The classical Economist produced some interesting Economic models. The model believed that the economy on its own adjust correctly when there is a shift in the aggregate demand. It also posits that there is no need for government’s intervention during this period of balancing the economy so that aggregate demand will equal aggregate supply. It believes in ‘automatic mechanism’ to balance the economy when it is not balanced. This model failed to explain to the patterns of no growth,weak or slow growth,or growth and retrogression found in the less developed countries (LCDs).
It was during this period that Lord Maynard Keynes propounded the keynesian model. In his model, he believed that government’s intervention is necessary to increase or reduce aggregate demand so as to balance the economy. It was during this time that development emerged as a branch of Economy to improve the standard of living suffered by countries of latin America,Africa and Asia using various methods such as Economic analysis,theories etc.
(4) Many folks study Development Economics for the following reasons:
(i) Our own welfare: people study Economics for the welfare and well being of everyone. More reasons for studying development Economics for our own welfare includes:
(a) Global interaction ( Wars, environment,refugee)
(b) Global co-existence
(c) Trade and investment
(ii) Moral and Ethical reasons: People study Development Economics because they believe Inequality is unfair,hence there is need to curtail it,they believe that development is a human right. They also believe poverty is unfair and must be eradicated.
(iii) Private Interest: People study Development Economics for their own personal reasons. The following factors are what influences people to study Development Economics for their own personal reasons or interest:
(a)Job Prospect: people are influenced to study Development Economics because they want to work as development consultants etc.
(b) perspective on economics, common allround knowledge.
(iv) Intellectual Curiosity: People study Development Economics because they want to know the answers and solutions to the following:
(a) What causes inequality and poverty,and what can be done?
(b) Why do some countries grow and others do not?
(5) The French demographer Alfred Sauvy coined the expression “tiers monde’ in French to describe the third estate which is made up of commoners. Before and during the French Revolution, there exist three divisions of people in France. The first division is called the first estate,second division is the second estate, and the third division is called the third estate. The first estate is made up of priests,while the second estate is made up of nobles and the third estate is made up of commoners. The people in the third estate according to Sauvy is nothing ,and they “want to be something”. They are servants to the priests and nobles. They are exploited heavily and its destiny is a revolutionary one. The third World or third estate as conveyed or discussed by Sauvy is one that is of a non-alignment. This implies that the third world belongs to neither the industrialised capitalist nor to the industrialised communist bloc.
The expression third world was used at the 1955 conference of Afro-Asian countries held in Bandung Indonesia.
In 1956 a group of social scientists associated to Sauvy’s National institute of Demographic Studies in Paris, published a book called “Le Tiers-Monde”.
Three years later,the French Economist Francois Perroux launched a new Journal on problems of underdevelopment,with the same title.
By the end of the 1950’s the term was frequently employed in the French media to refer to the underdeveloped countries of Asia,Africa, Oceania,and Latin America.

Name: Ezeh Patrick Ezenwa
Reg No: 2019/244053
Email: Saintpatrickforchrist@gmail.com

Q1: Michael Todaro (1977), stressed that development must be regarded as “multi-dimensional process Which invoves major changes in social structures, popular attitudes, institutions, as well as the acceleration of economic growth, the reduction of inequality, and the eradication of absolute poverty.” He
further explained that development must represent the whole gamut of change by which the entire social system, tuned to the diverse basic needs and desires of individuals and social groups within that system, moves away from a condition greatly perceived to be
unsatisfactory toward a situation or condition of life regarded as materially and Spiritually “better”. Todaro emphasized the “good life” that individuals and societies ought to pursue as based on three (3) core values : 1)life sustenance, 2) self esteem, and 3)
freedom from servitude. Todaro here, provided a normative philosophical and humanistic dimension to development but taking on a much holistic integrative
perspective by emphasizing the need for accelerated economic growth along with social and institutional component. By this, he points out that the problem of
underdevelopment and inequality is largely structural in nature and proliferated by existing institutions in society the promotes rather than prevents inequality, inadequate redistribution of wealth, blocks access to basic services, and are the very cause of deprivation thereby impeding attainment of development objectives on top of efforts and interventions being done. Thus, he defines development as a holistic cultural, social and institutional transformations (multi-dimensional) largely brought about by substantical
changes in existing institutions into ones that takes cognizance of the importance of the human person and thereby provides adequate services to support life-sustaining, basic human needs, promotes self-respect and dignity thru the entire society’s and including the government’s respect of rights and liberties of individuals and thereby changing the attitudes and culture of a mass of people, rendering them free and capable to live productive meaningful lives.He therefore refers to This as the “good life”.

Q2: The indicies of measuring Human development by the UN are as follows;
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 capita in PPP terms in US.
These indicies sets a minimum and a maximum for each dimension, called “goalposts”, then shows where each country stands in relation to these goalposts. This is expressed as a value between 0 and 1. The higher a country’s human development, the higher its Human development indicies value.

Q3: Development economics emerged as a branch of economics because it focuses on improving fiscal, economic, and social conditions in developing countries. Development economics considers factors such as health, education, working conditions, domestic and international policies, and market conditions with a focus on improving conditions in the world’s poorest countries.The field also examines both macroeconomic and microeconomic factors relating to the structure of developing economies and domestic and international economic growth. It helps in the transformation of emerging nations into more prosperous nations. It invoves strategies for transforming a developing economy to be unique because the social and political backgrounds of countries can vary dramatically. Not only that, but the cultural and economic frameworks of every nation is different also, such as women’s rights and child labor laws, which cannot be accomplished through Economic means alone, this led to the emergence of development economics to enable scholers to Focus more On improving nd provinding the needs and means for a country to grow.

Q4: We study development economics because;
it Enables and provides the policymakers with an opportunity to analyze economic challenges faced by developing countries. This analysis primarily considers economic indicators like the gross domestic product, supply and demand, and market competition, and enables them to solve those challenges.
Besides micro and macroeconomics, it Enables individuals to focus on household and individual economics.
It enables us to analyze the rate of population increase, affecting the economic development
To Examine the structural transformation and implement fiscal policies accordingly in a developing economy .
It enables us to develop ways to achieve sustainable development
It enables us to be able to evaluate an economy, fix problems in it, and predict economic development.

Q5: The “Third Estate” were the commoners of France who, during the French Revolution, opposed priests and nobles who were the first and second estates, respectively. However, there is some contention on whether he in fact coined the term or if it had been previously coined by a coalition of political leaders, who had already been using “first world” and “second world” in their common speech.
The commonly held correct terms to refer to poor or underdeveloped countries are “Developing World” or “Majority World”, which the latter kind of sounds like a fun amusement park ride and the former sounds like something fun to do in a video game. It’s no wonder these terms haven’t caught on with the masses over the incorrect usage of “third world”. the “third world” countries were just everybody else and this “everybody else” meaning included an awful lot of countries that were underdeveloped or poor. Through time, this has given rise to the misconception that “third world” means only countries that are underdeveloped and poor, even though there were, and still are, many countries in this group that are very well developed and a few of them are among the wealthiest nations in the world.

Ezeugwu Chidera Paul
2019/241560
Paulchidera24@gmail.com
Economics dept.

1.According to Prof. Michael Todaro, the three objectives of Development include,Producing more life sustaining necessities such as food shelter & 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.

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.

“Human development is the expansion of people’s freedom to live long, healthy and creative lives; to advance other goals they have reason to value; and to engage actively in shaping development equitably and sustainably on a shared planet. People are both the beneficiaries and the drivers of human development, as individuals and in groups”

Source: Human Development Report, November 2010

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.

People – many of the goals focus on lifting people out poverty and hunger and providing a decent education for all
Planet – there is a lot more focus on protecting the environment compared to the original MDGs – for example with the ‘life under water’ goal.
Prosperity – there is a focus on improving lives through enterprise and innovation, linking into partnership below
Peace – the agenda recognises that there can be no effective development without peace.
Partnership – there is much more focus on the agenda for sustainable development being a partnership between developed and less developed countries than with the original MDGs.

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

World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world’s countries—including all of the great powers—forming two opposing military alliances: the Allies and the Axis powers. World War II was a total war that directly involved more than 100 million personnel from more than 30 countries.
It ended with the 1973–1975 recession or 1970s recession, was a period of economic stagnation in much of the Western world during the 1970s, putting an end to the overall post–World War II economic expansion. It differed from many previous recessions by involving stagflation, in which high unemployment and high inflation existed simultaneously.
Development economic emerged as a branch of economic which entails economic expansion and which became active after the world war2 and recession.
The United States, the Soviet Union and Western European and East Asian countries in particular experienced unusually high and sustained growth, together with full employment.
Contrary to early predictions, this high growth also included many countries that had been devastated by the war, such as Japan (Japanese economic miracle), West Germany and Austria (Wirtschaftswunder), South Korea (Miracle on the Han River), Belgium (Belgian economic miracle), France (Trente Glorieuses), Italy (Italian economic miracle) and Greece (Greek economic miracle). Even countries that were relatively unaffected by the war such as Sweden (Record years) experienced considerable economic growth.

3.Many folks study Development Economics for many reasons. Discuss

Development economics attempts to explore some of the economic challenges peculiar to some of the poorest countries in the world. In this module you will investigate the factors that have led to this global inequality.

As part of this study programme, you will see the way in which economics can help our understanding of some of the major challenges of the 21st century, including:

to what extent does rapid population growth help or hinder development?
is it necessary for economies to go through a process of structural transformation – and how does this take place?
what is the role of education and health care provision in contributing to the process of development?
how important is it for countries to engage in international trade in the context of a globalising economy?
how can less-developed countries achieve sustainable development?
what effect has the HIV/AIDS epidemic had on economic and human development?

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.

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.

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.
The term “Third World” arose during the Cold War to define countries that remained non-aligned with either NATO or the Warsaw Pact. The United States, Canada, Japan, South Korea, Western European nations and their allies represented the “First World”, while the Soviet Union, China, Cuba, North Korea, Vietnam and their allies represented the “Second World”. This terminology provided a way of broadly categorizing the nations of the Earth into three groups based on political divisions. Strictly speaking, “Third World” was a political, rather than an economic, grouping.[1] Since the dissolution of the Soviet Union and the end of the Cold War, the term Third World has decreased in use. It is being replaced with terms such as developing countries, least developed countries or the Global South. The concept itself has become outdated as it no longer represents the current political or economic state of the world and as historically poor countries have transited different income stages.
The Third World was normally seen to include many countries with colonial pasts in Africa, Latin America, Oceania, and Asia.

Some countries in the Eastern Bloc, such as Cuba, were often regarded as “Third World”. Because many Third World countries were economically poor and non-industrialized, it became a stereotype to refer to developing countries as “third world countries”, yet the “Third World” term is also often taken to include newly industrialized countries like Brazil, China and India now more commonly referred to as part of BRIC.

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?:

What is the Third Estate? Everything.
What has it been until now in the political order? Nothing.
What does it want to be? Something.

Nwadike Vivian Mmesoma
Economics
2019/244657

1.According to Prof. Michael Todaro, the three objectives of Development include,Producing more life sustaining necessities such as food shelter & 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.

Economist Michael Todaro specified three objectives of development:

LIFE SUSTENANCE NECESSITY
Producing more life sustaining necessities such as food, shelter, health care and broadening their distribution is one of the three objectives of development. The government and the private sector should ensure there is sufficient food and make provision for Good hospitals and the educational sector should establish good schools with a good high standard of learning.

STANDARD OF LIVING AND INDIVIDUAL SELF ESTEEM:
The government should provide an avenue towards giving incentive to workers and increment in salary this will increase income and boost there standard of living. Creating job opportunities by embarking on projects useful to the society, the citizen self esteem should be maintained and protected by taken care of their needs thereby promoting human rights and fulfilling people’s aspiration in life.

EXPANDING ECONOMIC AND SOCIAL CHOICE AND REDUCING FEAR.

People’s freedom and safety matters a lot, making choices to participate in economic, social and political activities. The government should grant them such opportunity to express their opinions and ensure that are comfortable, dreams are achieved and basic needs provided.

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.

CITIZENS – many of the goals focus on lifting people out poverty and hunger and providing a decent education for all
CLIMATE CHANGE– there is a lot more focus on protecting the environment compared to the original MDGs – for example with the ‘life under water’ goal.
PROSPERITY– there is a focus on improving lives through enterprise and innovation, linking into partnership below
PEACE AND SECURITY – the agenda recognises that there can be no effective development without peace.
PARTNERSHIP AMONG COUNTRIESS– there is much more focus on the agenda for sustainable development being a partnership between developed and less developed countries than with the original MDGs.

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

World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world’s countries—including all of the great powers—forming two opposing military alliances: the Allies and the Axis powers. World War II was a total war that directly involved more than 100 million personnel from more than 30 countries.
It ended with the 1973–1975 recession or 1970s recession, was a period of economic stagnation in much of the Western world during the 1970s, putting an end to the overall post–World War II economic expansion. It differed from many previous recessions by involving stagflation, in which high unemployment and high inflation existed simultaneously.
Development economic emerged as a branch of economic which entails economic expansion and which became active after the world war2 and recession.
The United States, the Soviet Union and Western European and East Asian countries in particular experienced unusually high and sustained growth, together with full employment.
Contrary to early predictions, this high growth also included many countries that had been devastated by the war, such as Japan (Japanese economic miracle), West Germany and Austria (Wirtschaftswunder), South Korea (Miracle on the Han River), Belgium (Belgian economic miracle), France (Trente Glorieuses), Italy (Italian economic miracle) and Greece (Greek economic miracle). Even countries that were relatively unaffected by the war such as Sweden (Record years) experienced considerable economic growth.

3.Many folks study Development Economics for many reasons. Discuss

Development economics attempts to explore some of the economic challenges peculiar to some of the poorest countries in the world. In this module you will investigate the factors that have led to this global inequality.

As part of this study programme, you will see the way in which economics can help our understanding of some of the major challenges of the 21st century, including:

It helps economists to be conscious about uncertain crisis which can plague the economy.
It helps the Government to know what the citizens really want and to be able to fulfil their aspiration in life
Risk Management is one of the reasons why it’s important to include or why economic development is studied in schools. It brings the minds on what risk is all about and how to manage it.
Development Economic will enhance a nation on the importance of Multilateral ability.
Sustainable Development can be obtained with the study of development Economic.

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.

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.

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.
The term “Third World” arose during the Cold War to define countries that remained non-aligned with either NATO or the Warsaw Pact. The United States, Canada, Japan, South Korea, Western European nations and their allies represented the “First World”, while the Soviet Union, China, Cuba, North Korea, Vietnam and their allies represented the “Second World”. This terminology provided a way of broadly categorizing the nations of the Earth into three groups based on political divisions. Strictly speaking, “Third World” was a political, rather than an economic, grouping.[1] Since the dissolution of the Soviet Union and the end of the Cold War, the term Third World has decreased in use. It is being replaced with terms such as developing countries, least developed countries or the Global South. The concept itself has become outdated as it no longer represents the current political or economic state of the world and as historically poor countries have transited different income stages.
The Third World was normally seen to include many countries with colonial pasts in Africa, Latin America, Oceania, and Asia.

Some countries in the Eastern Bloc, such as Cuba, were often regarded as “Third World”. Because many Third World countries were economically poor and non-industrialized, it became a stereotype to refer to developing countries as “third world countries”, yet the “Third World” term is also often taken to include newly industrialized countries like Brazil, China and India now more commonly referred to as part of BRIC.

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?:

What is the Third Estate? Everything.
What has it been until now in the political order? Nothing.
What does it want to be? Something.

NAME: ONWUEGBUNA PRECIOUS ONYINYE
REG NO:2019/245507
DEPARTMENT: ECONOMICS

(1) The believe and reasoning of professor Michael Tadaro emphasised on three major objectives of development in any Economy;
The first objective according to Professor Michael Todaro is to “expand Economic and Social choices and reducing fear”. The expansion of Economic and Social choices is a media of making sure there is sufficient job opportunities, educational institutions etc available to individuals of an Economy ,and ensure that the population of an Economy will have a choice while engaging in Economic and social activities. This also takes away fear and fastens self esteem.
The second objective is to produce more life saving neccessities such as food,shelter and health care and widening their distribution. The aim of every economy is to provide its population with life saving necessities such as food, shelter and health care,the economy also aims to expanding the rate at which those who make up the economy population to have access to these life saving necessities. This aim is achieved by the economy through development programs, ensuring the availability of the life saving necessities,and improving in their distribution.
The third objective of development of professor Michael Todaro emphasized on is “raising standard of living and individual self esteem”. This objective can be achieved if the economy makes adequate effort through its Economic policies to provide more job opportunities for it working population, making sure workers earn a high income and providing good education for its population to further standardize them with the technical ability necessary to fasten the Economy. When this is in place the people’s standard of living and self esteem will be retained.
(2) The set of indices developed by UN and other global agencies on how to measure development includes:
(i) UN’s Human Poverty Index (HPI): This index measures deprivation using percentage of people expected to die before age 40, percentage of illiterate adults, percentage of people without access to health services and safe water and the percentage of underweight children under five.
Countries with a high mortality rate as against it low natality rate is considered undeveloped using this index. Countries suffering from high mortality rate is faced with lack of adequate health care facilities for increasing life expectancy and long life, increased level of illiteracy due to lack of education etc. Countries with low Human Poverty Index(HPI) is considered developed using this index,while countries with high HPI is considered under developed.

(ii) UN’s Human development Index(HDI): This index measures a country’s average achievements in three basic dimensions of human development:
(a) Educational attainment
(b) Life expectancy and
(c) Adjusted real income
The UN’s Human development Index(HDI) measures development using the above dimensions. Countries with a higher HDI is assumed to be developed or experiencing development,while countries with lower HDI is assumed to be under developed as in the case of many African Countries like USA,France,South Korea etc are examples of countries with high HDI.

(3) After the world war II,there was great depression which affected virtually all the economies of the world. The classical Economist produced some interesting Economic models. The model believed that the economy on its own adjust correctly when there is a shift in the aggregate demand. It also posits that there is no need for government’s intervention during this period of balancing the economy so that aggregate demand will equal aggregate supply. It believes in ‘automatic mechanism’ to balance the economy when it is not balanced. The Economies of less developed countries(LDCs) were different from the developed countries that basic Economics could not explain the behavior of less developed countries(LDCs) economies.This model failed to explain to the patterns of no growth,weak or slow growth,or growth and retrogression found in the less developed countries (LCDs).
Development emerged as a branch of Economy to improve the standard of living suffered by countries of latin America,Africa and Asia using various methods such as Economic analysis,theories etc during this period. It was during this period that Lord Maynard Keynes propounded the keynesian model. In his model, he believed that government’s intervention is necessary to increase or reduce aggregate demand so as to balance the economy.
(4) Many folks study Development Economics for the following reasons:
(i) Private Interest: People study Development Economics for their own personal reasons. The following factors are what influences people to study Development Economics for their own personal reasons or interest:
(a)Job Prospect: people are influenced to study Development Economics because they want to work as development consultants etc.
(b) perspective on economics, common allround knowledge.
(ii) Intellectual Curiosity: People study Development Economics because they want to know the answers and solutions to the following:
(a) What causes inequality and poverty,and what can be done?
(b) Why do some countries grow and others do not?

(iii) Our own welfare: people study Economics for the welfare and well being of everyone. More reasons for studying development Economics for our own welfare includes: Global interaction ( Wars, environment,refugee),Global co-existence, Trade and investment
(iv) Moral and Ethical reasons: People study Development Economics because they believe Inequality is unfair,hence there is need to curtail it,they believe that development is a human right. They also believe poverty is unfair and must be eradicated.
(5) The French demographer Alfred Sauvy coined the expression “tiers monde’ in French to describe the third estate which is made up of commoners. Before and during the French Revolution, there exist three divisions of people in France. The first division is called the first estate,second division is the second estate, and the third division is called the third estate. The first estate is made up of priests,while the second estate is made up of nobles and the third estate is made up of commoners. The people in the third estate according to Sauvy is nothing ,and they “want to be something”. They are servants to the priests and nobles. They are exploited heavily and its destiny is a revolutionary one. The third World or third estate as conveyed or discussed by Sauvy is one that is of a non-alignment. This implies that the third world belongs to neither the industrialised capitalist nor to the industrialised communist bloc.
The expression third world was used at the 1955 conference of Afro-Asian countries held in Bandung Indonesia.
In 1956 a group of social scientists associated to Sauvy’s National institute of Demographic Studies in Paris, published a book called “Le Tiers-Monde”.
Three years later,the French Economist Francois Perroux launched a new Journal on problems of underdevelopment,with the same title.
By the end of the 1950’s the term was frequently employed in the French media to refer to the underdeveloped countries of Asia,Africa, Oceania,and Latin America.

Onyechukwu Blossom Chinyere
2019/242141
blossomchinyere29@gmail.com
1. When we look at the life of misery faced by people who live in the underdeveloped world, we will see that the objective of development clamored by Prof. Michael Torado should not be over emphasized as the core objective to be taken into consideration for pursuing development. These objectives will clear be explained serially bellow;
Sustenance: The Ability to Meet Basic Needs and Their Distribution
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 underdevelopment” 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.” Rising per capita incomes, the elimination of absolute poverty, greater employment opportunities, and lessening income inequalities therefore constitute the necessary but not the sufficient conditions for development.
Self-Esteem: To Be a Person
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. Like in the Igbo traditional society, one of the recognized self-esteem among families is the value of human over money.
However, with the proliferation of the “modernizing values” of developed nations, many societies in developing 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 become 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 Be Able to Choose
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.
2. The New Human Development Index
In November 2010, the UNDP introduced its New Human Development Index (NHDI), intended to address some of the criticisms of the HDI. The index is still based on standard of living, education, and health. But it has eight notable changes, each with strengths but also a few potential drawbacks.
What Is New in the New HDI
1. Gross national income (GNI) per capita replaces gross domestic product (GDP) per capita. This should be an unambiguous improvement: GNI reflects what citizens can do with income they receive, whereas that is not true of value added in goods and services produced in a country that go to someone outside it, and income earned abroad still benefits some of the nation’s citizens. As trade and remittance flows have been expanding rapidly, and as aid has been better targeted to very low-income countries, this distinction has become increasingly important.
2. The education index has been completely revamped. Two new components have been added: the average actual educational attainment of the whole population and the expected attainment of today’s children. Each of these changes to the index has implications. Use of actual attainment—average years of schooling—as an indicator is unambiguously an improvement. Estimates are regularly updated, and the statistic is easily compared quantitatively across countries. And even though it is at best a very rough guide to what is actually learned—on average, a year of schooling in Mali provides students with much less than a year of schooling in Norway—this is the best measure we have at present because more detailed data on quality that are credible and comparable are simply not available.
3. Expected educational attainment, the other new component, is somewhat more ambiguous: it is not an achievement but a UN forecast. History shows that much can go wrong to derail development plans. Nevertheless, there have also been many development upsides surprises, such as rapid improvements in educational attainment in some countries; there is a risk that low expectations will prove discouraging. Note that life expectancy, which remains the indicator for health, is also a projection based on prevailing conditions.
4. The two previous components of the education index, literacy and enrollment, have been correspondingly dropped. In contrast to expected attainment, literacy is clearly an achievement, and even enrollment is at least a modest achievement. However, literacy has always been badly and too infrequently measured and is inevitably defined more modestly in a less developed country. And enrollment is no guarantee that a grade will be completed or for that matter that anything is learned or that students (or teachers) even attend.
5. The upper goalposts (maximum values) in each dimension have been increased to the observed maximum rather than given a predefined cutoff. In some ways, this returns the index to its original design, which was criticized for inadequately recognizing small gains by countries starting atvery low levels.
6. The lower goalpost for income has been reduced. This is based on estimates for Zimbabwe in 2007 that, if the data and their interpretation hold up, represent a historic low for recorded income.11
8. Possibly the most consequential change is that the NHDI is computed with a geometric mean, as we examine next.

3. Economist after world war II became concerned about the low standard of living in so many countries of lati America, Africa and Asia which are mostly the less developed country because their economy were so different from the developed countries that basic economics could not explain the behavior of the less developed countries’ economy. Although traditional approach to economics produced some interesting and elegant model but the model failed to explain the patter of no growth, slow growth, or growth and retrogression found in less developed countries.
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 executes 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 projects and 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 raises 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.
5. French demographer, anthropologist, and historian Alfred Sauvy, in an article published in the French magazine L’Observateur, August 14, 1952, coined the term third world (tiers monde), referring to countries that were playing little role on the international scene. His usage was a reference to the Third Estate (tiers état), the commoners of France who, before and during the French Revolution, opposed the clergy and nobles, who composed the First Estate and Second Estate, respectively (hence the use of the older form tiers rather than the modern troisième for “third”). Sauvy wrote, “This third world ignored, exploited, despised like the third estate also wants to be something. In the context of the Cold War, he conveyed the concept of political non-alignment with either the capitalist or communist bloc.[4] Simplistic interpretations quickly led to the term merely designating these unaligned countries.

Paul Emmanuel Okwuchukwu
2015/197559
paulemmanuelok7@gmail.com
Freedom from Slavery: The Power to Make Decisions
The idea of human freedom is the third and final universal ideal that we propose ought to define what development means. Freedom in this context is to be interpreted as emancipation from social servitude to nature, other people, misery, repressive institutions, and dogmatic beliefs, particularly that poverty is predestined. It is also to be understood as emancipation from alienating material conditions of life. Freedom entails giving societies and their citizens a wider range of options while minimizing external restraints in the quest of what we refer to as “progress.”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.
The capacity to provide for one’s basic needs and the distribution of those needs
Life would not be possible without a few basic necessities that are shared by all humans. The essential necessities for human survival are food, shelter, health care, and security. A state of “absolute underdevelopment” emerges when any of these are absent or dangerously underdeveloped. Therefore, the provision of as many people with the resources to escape the helplessness and misery brought on by a lack of food, shelter, health care, and protection is a fundamental purpose of all economic activity.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.” Rising per capita incomes, the elimination of absolute poverty, greater employment opportunities, and lessening income inequalities therefore constitute the necessary but not the sufficient conditions for development.
Self-Esteem: A sense of oneself
A second universal element of the good existence is self-esteem, or having a sense of worth and respect for oneself and not being treated like a tool by others. Authenticity, identity, dignity, respect, honor, and acknowledgment are all basic forms of self-esteem that all people and communities aspire to. This self-esteem can take many different forms, depending on the country and culture it comes from. The valuing of people over money is one of the accepted values of self-esteem among families, just like in the Igbo traditional society.
However, because of the spread of the “modernizing values” of rich countries, many communities in developing countries that have a strong sense of their own value experience major cultural uncertainty when they interact with more developed society in terms of economy and technology. This is due to the fact that national prosperity has almost completely replaced other measures of value. Due to the importance placed on material values in developed countries, worthiness and regard are now more often solely given to those nations who have “developed,” or have economic richness and technological strength.
2. The New Human Development Index
In November 2010, the UNDP introduced its New Human Development Index (NHDI), intended to address some of the criticisms of the HDI. The index is still based on standard of living, education, and health. But it has eight notable changes, each with strengths but also a few potential drawbacks.
What Is New in the New HDI
1. Gross national income (GNI) per capita replaces gross domestic product (GDP) per capita. This should be an unambiguous improvement: GNI reflects what citizens can do with income they receive, whereas that is not true of value added in goods and services produced in a country that go to someone outside it, and income earned abroad still benefits some of the nation’s citizens. As trade and remittance flows have been expanding rapidly, and as aid has been better targeted to very low-income countries, this distinction has become increasingly important.
2. The education index has been completely revamped. Two new components have been added: the average actual educational attainment of the whole population and the expected attainment of today’s children. Each of these changes to the index has implications. Use of actual attainment—average years of schooling—as an indicator is unambiguously an improvement. Estimates are regularly updated, and the statistic is easily compared quantitatively across countries. And even though it is at best a very rough guide to what is actually learned—on average, a year of schooling in Mali provides students with much less than a year of schooling in Norway—this is the best measure we have at present because more detailed data on quality that are credible and comparable are simply not available.
3. Expected educational attainment, the other new component, is somewhat more ambiguous: it is not an achievement but a UN forecast. History shows that much can go wrong to derail development plans. Nevertheless, there have also been many development upsides surprises, such as rapid improvements in educational attainment in some countries; there is a risk that low expectations will prove discouraging. Note that life expectancy, which remains the indicator for health, is also a projection based on prevailing conditions.
4. The two previous components of the education index, literacy and enrollment, have been correspondingly dropped. In contrast to expected attainment, literacy is clearly an achievement, and even enrollment is at least a modest achievement. However, literacy has always been badly and too infrequently measured and is inevitably defined more modestly in a less developed country. And enrollment is no guarantee that a grade will be completed or for that matter that anything is learned or that students (or teachers) even attend.
5. The upper goalposts (maximum values) in each dimension have been increased to the observed maximum rather than given a predefined cutoff. In some ways, this returns the index to its original design, which was criticized for inadequately recognizing small gains by countries starting at very low levels.
6. The lower goalpost for income has been reduced. This is based on estimates for Zimbabwe in 2007 that, if the data and their interpretation hold up, represent a historic low for recorded income.
8. Possibly the most consequential change is that the NHDI is computed with a geometric mean, as we examine next.
3.
After World War II, economists began to worry about the low living standards in many countries in Latin America, Africa, and Asia, which are primarily the less developed countries, because these economies were so distinct from those of the developed countries and could not be adequately explained by basic economics. Although the conventional method of studying economics resulted in several intriguing and beautiful models, they were unable to account for the pattern of no growth, slow development, or growth and regression that is observed in less developed nations.

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 projects and 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 raises 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.
3. The phrase “third world” (tiers monde) was first used by the French demographer, anthropologist, and historian Alfred Sauvy on August 14, 1952 in an article that appeared in the French magazine L’Observateur to describe nations that had a minor impact on the world stage. He used the term “third estate” (tiers état) to refer to the French commoners who, prior to and during the French Revolution, opposed the clergy and nobles, who made up the First Estate and Second Estate, respectively (hence the use of the older form tiers rather than the more modern troisième for “third”). “This third world is neglected, exploited, and loathed like the third estate also wants to be something,” Sauvy stated in his writing. He explained the idea of political neutrality within the framework of the Cold War.

Name : Henry Victor Ifeanyichukwu
Reg no : 2019/250111
Email : victorhenry274@gmail.com
1, Professor Michael Paul Todaro is an American economist who major in the field of development economics. He believes that development economics has three objectives which are , producing more life sustaining necessities. One of the goal for development economist is to provide the tools and knowledge for developing countries on how they can be efficient enough to provide the basic needs of the members of society. This needs are essential for life to grow and strive these needs includes , food , shelter, clothing and health .
The second objective of development economics is raising the standard of living , development economics aim is to make sure that the standard of living in developing nations is adequate, that people in the society are living a comfortable life. Where they are satisfied with there condition of living and they develop individual self esteem.
The third objective development economics according to professor Michael Paul is expanding economic and social choice, for a country should be considered develop the people must have varieties of options in every aspect of society. Members of the society must have the freedom to choose the best option according to their preferences and self-interest without fear.

2, i) UN’S human development index ( HDI ) : the UN developed index to measure a country level of development. The human development index ( HDI ) focus on a country achievement to know the level of development a country is at , this index include life expectancy this means the age at which people die. If it is either at youthful age or old age is a measurement of a country level of development. Another index is educational attainment, the amount of people who access to quality education is another measurement of development and the last index is the adopted real income ( ppp per price ). The real income received by the working class of the society is another index for measuring the level of development in a nation.
ii) UN’S human poverty index ( HPI ) : HPI use deprivation to measure development of a country, this index include, the percentage of people who is likely to die before 40. This mean it measure development with amount of people with low life expectancy, the percentage of illiterate adult. The amount of people without good education or educational attainment can be a good measurement of a country development. the percentage of people without access to health services and safe water, the amount of people who don’t have access to the basic needs for living like water and health, can be a good measurement of development of a particular country.
Also the last index of ( HPI ) is the percentage of underweight children under 5 , the Standard of living and cost of living of a country is measurement of development, the amount of children who are lacking the right nutrients for maintaining the healthy weight and cost to purchase those foods with the right nutrients is right measurement of development.

3, After world war II , economist discovered that economic of a less developed nation where quite different from the economic of a develop nation.
They discovered that the economic in a developing nations suffers from different issues like low real income, high level of illiteracy and low standard of living. As to tackle the issue of low standard of living models were developed, which brought about development economics.
Development economics was introduce to provide solutions to issues of stands of living in developing or under develop nations. It was created to provide the tools and instruments to help developing nations to increase there standard of living and achieve development.

4, i) moral and ethical reasons : development economics is studied for the reason of making life better for people in the society and make society free and without any form of fear or terror.
ii) our own welfare: development economics provide us with directives or index, that can help us move from a developing society to a developed society, where all the basic needs are met and we have high standard of living .
iii) private interest : we can study development economics for personal interest and what it can provide for us as individuals like job opportunities etc
iv) intellectual reasons : development economics is a field in the economic body, it is taught in different educational institutes for various reason and with the knowledge students can apply it to other part of the economical field.

5, When the first demographer Alfred Sauvy spoke about the third estate which comprises of commoners , while the first and second estate includes the priest and nobles respectively. Alfred Sauvy saw the “ third estate ” ,as group of people in the french society who have less opportunities before the french revolution and lack resources as compared to first and second estate who controls factors of production and have more resources.
That is why he wrote that the third world is nothing and it “ wants to be something ” . third world here implies to developing nations or under-develop nation like Africa , Asia , Oceanta and Latin America, who lacks some features of a develop nation ( first world and second world ) like high standard of living , availability of choice and freedom , availability of educational institutes. and satisfaction of basic needs of members of there society. This third world countries wants to develop to the point where they can be considered as first world and second world countries like America, Spain , France , great Britain etc they want to grow from under develop to develop, the third world is nothing and it “ want to be something” .

NAME: UDEZE KELECHI BLESSING
REG NO: 2019/241719
DEPT: ECONOMICS EDUCATION
EMAIL: blessingkelechi74@yahoo.com
ASSIGNMENT ON DEVELOPMENT ECONOMICS
Question 1: According to Prof. Michael Todaro, the three objectives of development include, producing more life sustaining necessities such as food shelter and healthcare and broadening their distribution, praising standards of living and individual self esteem, and expanding economic and social choice and reducing fear. discuss elaborately.

Answer 1: Prof. Michael Todaro stated that development is both a physical reality and a state of mind in which society has, through some combination of social, economic, and institutional processes, secured the means for obtaining a better life. However, whatever the specific components of this better life, development in all societies according to Michael Todaro must have at least the following three objectives:
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.

Question 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.

Answer 2: Michael Todaro opined that the most common measurement of development is the Human Development Index (HDI) as stipulated by United Nations agency, the United Nations Development Programme. Thus, Dudley Sears stated that development is the reduction and elimination of poverty, inequality and unemployment withing a growing economy. The HDI was created to emphasize that people and their capabilities should be the ultimate criteria for assessing the development of a country, not economic growth alone. The Human Development Index (HDI) is a summary measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable and have a decent standard of living. The HDI is the geometric mean of normalized indices for each of the three dimensions. The health dimension is assessed by life expectancy at birth, the education dimension is measured by mean of years of schooling for adults aged 25 years and more and expected years of schooling for children of school entering age. The standard of living dimension is measured by gross national income per capita. The HDI uses the logarithm of income, to reflect the diminishing importance of income with increasing GNI. The scores for the three HDI dimension indices are then aggregated into a composite index using geometric mean. Refer to Technical notes for more details. Also, the Sustainable Development Goals (SDGs) represent an ambitious set of development targets established in 2015 and designed to be met as fully as possible by the end of 2030.

Question 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. Disuss

Answer 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 analogous belief that economic domination by the industrial countries had thwarted their development, and they, too, joined the quest for rapid growth.

Ques 4: Many folks study Development Economics for many reasons. Discuss
Answer 4: Many folks study Development Economics because economic development tries to cover the political, social, economic and institutional mechanism with the aim to bring large improvements in the life standards of poor and mal nourished population of the underdeveloped countries like Nigeria, Pakistan, India and Singapore etc. Development economics mainly focuses on the structural changes in every area of the economy. It tries to bring improvements in institutions, technology being used in industries and many other areas. It identifies the economic problems,causes and their consequences in the developing countries and also tell how to overcome these problems. For instance, Pakistan is facing multiple economic problems like poverty, unemployment, unequal distribution of wealth, limited resources, corruption and many other other social issues. Therefore, economic development is concerned with these issues and develops strategies that will enable people to break the vicious circle of poverty and backwardness. So that every individual of the developing country will enjoy a quality life.

Ques 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.

Answer 5: The developing world are the economically underdeveloped countries in Asia, Africa, Oceania, and Latin America. These continents are considered as an entity with common characteristics such as poverty, high birth rates, and economic dependence on the advanced countries. Until recently, the developing world was known as “the third world”. The French Demographer, Alfred Sauvy coined the expression (in French) in 1952 by analogy with the ‘third estate’ which entails 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’. 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 a second idea, as discussed by Sauvy – that non-alignment for the developing world to belongs neither to the industrialized capitalist world nor to the industrialized former communist bloc.

Name:IFESINACHI Chidinma Ada
REG NO:2019/246106
Department:Combined Social Science(Economics/Psychology)
Course title:Developmental Economics
Course code:Eco 361

1)Producing more life sustaining necessities such as food,shelter and health care and broadening their distribution::
Developmental economics is a multidimensional concept that deals with improvement in human well-being as well as its nation,that is to say,when citizens of a nation do not have a proper healthcare,shelter as well as edible food that nation can be said to be underdeveloped.
*Raising standard of living and individual self-esteem:
In a developed nation,the standard of living of its citizens is high due to different factors like the creation of employment opportunities into various fields which results to the citizens having a positive self esteem about themselves because when there is increase in the standard of living of people living in the country,the self esteem of the ability to live comfortably will also be high.
*Expanding economic and social choice and reducing fear:
This is also an objective of a nation to its citizens in the sense that when the economy is positively increasing,it will result to a positive change thereby the citizens will have a social choice of themselves due to the economy thereby reducing fear that will occur as a result of insecurity,etc.

2)UN’s Human Development Index(HDI)-this measures the country’s average achievement in three basic amenities of human development such as adjusted real income,life expectancy,educational attainment.
UN’s Human poverty index(HPI)-this measures deprivation using the percent of people expected to die before 40% of illiterate adults,percent of people without access to health services and safe water and the percent of underweight children under fire.

3) Developmental Economics emerged as a branch of economics after the World War II due to low standard of living because some economists predicted a new crisis of mass unemployment and inflation arguing that private business couldn’t possibly generate the massive amounts of capital necessary to run the pumped up wartime factories during peacetime.This is due to the destruction of infrastructural amenities leading to unemployment,high cost of living,inflation etc.

4)Folks study developmental economics because it allows one to gain the opportunity to apply economic analysis theories and practices to develop and implement policies aimed at putting a less developed economy on the part of development.
It focuses on economic variables such as GDP,supply and demand and market rivalry.
It focuses on how people in a society can escape poverty and enjoy a better standard of living.

The third world is nothing and it wants to be something this is because t he third world is exploited much as the third estate was exploited and that like the third estate it’s destiny is a revolutionary one.It conveys as well as second idea also discussed by Sauvy that of non-alignment for the third world belongs neither to the industrialized capitalist world not to the industrialists economic bloc.

(1) Producing more life sustaining necessities such as food, shelter and healthcare are very necessary in an economy because an economy where food are always produced in large quantity helps to improve the standard of living because when people are well feed they will be more healthy and strong to work in an economy and government should also encourage even distribution of food and they should make sure it get to all the citizens by employing some officials that will be in charge of it and such officials must be selfless and also shelter is very necessary in the life of people because if people are engaged in sleeping in an open place such as under bridge e.t.c is not good for human being because they are exposed to dangers which will affect their lives so government should try to provide enough should for it’s citizens in order to reduce the rate of dangering people lives and healthcare is also very important in human being lives so government should make a every necessary arrangements to provide good health centers in all the locality and towns that can offer good healthcare for it’s citizens at a cheap rate and even free health centers too and also raising standard of living of it’s citizens are very important and this can only be achieved when people are well employed and paid well and when the economy is moving smoothly, it will help raise the standard of living because people will able to afford anything they desire without begging for help from anybody and also protecting individual self esteem is very important because if an individual who still have his or her self esteem intact won’t be influenced by the mater things around him or her and such person will always be determined to always do what is right in any situation such person might find their selves and also expanding economic and social choice is important because people will be given equal right to make choice about any situation in an economy and will be
(2i) UNs human development index (HDI) measure a country’s average achievement in three basic dimensions of human development by using life expectancy: is used in measuring development in an economy because the longer the people live the more development for the country because they will be enough people to work in an economy at different companies which will contribute greatly to the growth of GDP of an economy and another one is educational attainment is very helpful in measuring development because a country that has a well equipped and facility schools will help to contribute to the growth of the economy and also by offering free education to citizens in which their parents cannot afford private school will help them to acquire knowledge and skills in which they will use in turn to contribute to the growth of the economy by using what they acquired in school at different companies or industries in an economy and adjusted real income helps to develop the economy because if people are well employed it will help to increase their purchasing power parity
(2ii) UNs human poverty index also measure development because when those that are expected to die at the young age are prolonged or live longer than expected because they have access to safe water will contribute to their life expectancy because when people have access to clean water that are not contaminated they won’t be exposed to germs that will cause harm to them or shorten their lives , by eradicating illiterate in adults will help to develop the economy because when a great number of an adult in an economy are enlightened about what they suppose to do in other to contribute to the development of an economy and moreso underweight children under five years can be reduced if there is free health centers that can provide free immunization for children and offering free provisions for those children will help to increase their weight.
(3) Economics after world war II become concerned about the low standard of living in so many countries of latin America, Africa and Asia, raising standard of living in some part of Africa countries is becoming alarming because the standard of living of those residing in those countries are very poor but with the help of study of an economics will help to find solutions to that in order to raise standard of living by providing good jobs, free infrastructures, public health centers by the government of that country will help to improve the standard of living.
(4i) We study development economics for moral and ethical reason of the people because some group of people believe that engaging in some activities will be against their morals or ethic and that will help to discourage them from engaging in such activitties and also on to eradicate poverty in a society because poverty is a major disease dealing with people but with the study development economics will help to profer solution on how to eradicate poverty in a society and it is unfair and also on how to stop inequality treatment of people because some people might be given enough privilege to engage in any trade of their choice while others are restricted to do it but by studying development economics will be helpful in giving everybody equal right in an economy to engage in any trade of their choice and we also study development economics in order to develop human right because some people are denied about their rights or don’t even know their rights but development economics will help to expose or enlighten people what their rights is all about and it will give them more the opportunity to be to identity and refuse to be denied their rights.
(2) Our own welfare: development economics helps us to realize what our welfare are and how to use them for our own benefit and it also foster global interaction because people from different continent will be able to come together in order to discuss things that will benefit their respective countries and also on how to stop war, environment and offer refugee to other country and it also foster global co existence because it will give different countries the ability to be able to tolerate one and another and also make them to corporate together in order to make their countries to develop and development economics in other to find a way to move a country trade and investment forward in other to attain growth or increase the GDP of the country and(3) also the study of development economics is also for our own private interest because it will help us to know the kind of job we want to accept and what will be the outcome of the job and also our perspective in economics and knowledge about everything that we desire to know.
(4) We also study development economics for intellectual curiosity: because people are always want to find out the causes of inequality and poverty in some society and what can be done to stop inequality in a society and treat everyone equal and also on how to find solution in other to stop poverty by providing a good source of income that will help eradicate poverty and also to know why some countries grow even without having natural resources or human capital but they still grow while some countries don’t grow despite being well endowed with all natural resources and human resources and will still not grow but by studying development economics will helpful in making a countries to use all it’s resources in a good way in order for the country to grow
(5) The third world is exploited, much as the third estate was exploited and that like the third estate it’s destiny is a revolutionary because the third estate are always being enslaved by the people of higher class but the third class want to be something because they always engage in different trade which will benefit them in order to stop their exploitation by the richer class in an economy.

ANYANWU FAVOUR EBUBECHUKWU
2019/245648
ECONOMICS
1. Like Prof. Michael Todaro said, the 3 main objectives of development are; Producing more life sustaining necessities, Raising standard of living and Expanding economic and social choice. Every nation is trying so hard to develop their country in other to raising the standard of living in the country and also help individuals improve their self esteem, this factor helps in producing the basic necessities of life such as food, shelter, health care and it also helps in the distribution of these necessities.
2. The set of indices used to measure development are in three basic dimensions of human development which are; Life expectancy, Educational attainment and Adjusted real income.
The UN make use of these three dimensions to measure and know the level of a country’s development. First they use what they expect of life to measure development (i.e % of people that are expected to die before the age of 50)
They can also use the percentage of illiterate adults to measure development in an economy.
3. Economist after world war II because concerned about the low standard of living in so many countries and they brought Development Economics into existence as a branch of Economics to deal with the economic aspect of the development process in every low income country. They didn’t just focus on improving the incomes and the growth of they economy but they also considered improving the potentials for the mass of the population.
4. People study Development Economics for Moral and Ethical reasons (like learning that poverty is unfair, inequality is unfair), People also study Development Economics for their own private interests(For job propects, perspectives on economics), we also have people who study Development Economics because of their intellectual curiosity (They want to know what causes inequality and poverty and how it can be eradicated, they also want to know why some countries are growing and others aren’t).
5. The term ” the third world is nothing, and it “wants to be something.” 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.Because the economies of underdeveloped countries have been geared to the needs of industrialised countries, they often comprise only a few modem economic activities, such as mining or the cultivation of plantation crops. Control over these activities has often remained in the hands of large foreign firms. The prices of developing world products are usually determined by large buyers in the economically dominant countries of the West, and trade with the West provides almost all the developing world’s income. Throughout the colonial period, outright exploitation severely limited the accumulation of capital within the foreign-dominated countries.

ECO. 361 Online Discussion/Quiz (Understanding the fundamentals of Development)

QUESTION ONE:
According to Todaro, Development must, therefore, be conceived of as a multi-dimensional 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 absolute 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 desires 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 as materially and spiritually “better”.

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.
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. 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.

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. 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.

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.

“Human development is the expansion of people’s freedom to live long, healthy and creative lives; to advance other goals they have reason to value; and to engage actively in shaping development equitably and sustainably on a shared planet. People are both the beneficiaries and the drivers of human development, as individuals and in groups”

QUESTION TWO:
There are many different measures used to assess the development gap, each one offering an alternate way of dividing up the world with regards to how developed it is. Here, we shall look at some of the most common indicators of development used in geography.

Gross Domestic Product (GDP)
GDP is s how much money a country makes from its products over the course of a year, usually converted to US Dollars: the sum of gross value added by all resident producers in the economy + product taxes – any subsidies not included in the value of the products.

Gross National Product (GNP)
GNP is the GDP of a nation together with any money that has been earned by investment abroad minus the income earned by non-nationals within the nation.

GNP per capita GNP per capita is calculated as GNP divided by population; it is usually expressed in US Dollars.

It’s a common indicator used for measuring development, but is imperfect as the calculation doesn’t take into account certain forms of production, such as subsistence production.

Birth and death rates
Crude Birth and Death rates (per 1000) can be used as an overall measure of the state of healthcare and education in a country, though these numbers do not give a full picture of a nation’s situation.

The Human Development Index (HDI)
The HDI is a composite statistic calculated from the:

Life expectancy index
Education index
Mean years of schooling index
Expected years of schooling index
Income index
Countries are ranked based on their score and split into categories that suggest how well developed they are.

Infant mortality rate
Infant mortality rate is the number of infants dying before reaching one year of age per 1,000 live births in a given year.

Literacy rate
The rate, or percentage, of people who are able to read is a useful indicator of the state of education within a country.

High female literacy rates generally correspond with an increase in the knowledge of contraception and a falling birth rate.

Life expectancy
This simple statistic can be used as an indicator of the: healthcare quality in a country or province level of sanitation provision of care for the elderly It should not, of course, be used on its own to describe these things.

Furthermore we have some examples of social indicators of development include:

Education levels – for example how many years of schooling children have.
Health – often measured by life expectancy.
Employment Rates
Gender equality
Peacefulness
Democracy
Corruption
Media freedoms
Civil Rights
Crime/ social unrest
Suicide Rates
Composite indicators of all of the above
A well known example of a social indicator of development is the Human Development Index, which combines one economic indicator (Gross National Income) with two social indicators: life expectancy and years of schooling into one score and ranks countries accordingly.

You can also find many specific social indicators of development within the United Nations Sustainable Development Goals.

Social Indicators of development give a much broader picture of how developed a country is compared to purely economic indicators such as GDP which merely focus on economic productivity. Social indicators are more useful in showing us the extent to which income generated in a country actually benefits ordinary people.

This post introduces students to the specific indicators which institutions such as the World Bank and United Nations use to measure how ‘developed’ a country is, and the main indices which are used to compare the levels of development of different countries.

Indicators Used to Measure Education and Development
The World Bank uses the following eight core indicators to measure how developed a country is in terms of education:

The net enrolment rate for pre-primary
The net enrolment rate for primary*
The net enrolment rate for secondary education
The gross enrolment ratio for tertiary (further) education.
Gender parity for primary education (using the gross enrolment ratio)**
primary completion rate for both sexes
The total number of primary aged children who are out of school.
Government expenditure on education as a percentage of GDP.
*The net enrolment rate for primary is ‘the number of pupils of official primary school age (according to ISCED97) who are enrolled in primary education as a percentage of the total children of the official school age population’.

*The gross enrolment rate for primary school The number of children enrolled in primary school (of any age) as a percentage of the total children of the official school age population

The difference between Net Enrolment Rate and Gross Enrolment Rate is explained succinctly in this blog post on NER, GER and Universal Primary Education.

QUESTION THREE
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.
Development economics
Development economics may be contrasted with another branch of study, called growth economics, which is concerned with the study of the long-run, or steady-state, equilibrium growth paths of the economically developed countries, which have long overcome the problem of initiating development.
Growth theory assumes the existence of a fully developed modern capitalist economy with a sufficient supply of entrepreneurs responding to a well-articulated system of economic incentives to drive the growth mechanism. Typically, it concentrates on macroeconomic relations, particularly the ratio of savings to total output and the aggregate capital–output ratio (that is, the number of units of additional capital required to produce an additional unit of output).
Development economics is needed precisely because the assumptions of growth economics, based as they are on the existence of a fully developed and well-functioning modern capitalist economy, do not apply.
The developing and underdeveloped countries are a very mixed collection of countries. They differ widely in area, population density, and natural resources. They are also at different stages in the development of market and financial institutions and of an effective administrative framework. These differences are sufficient to warn against wide-sweeping generalizations about the causes of underdevelopment and all-embracing theoretical models of economic development. But when development economics first came into prominence in the 1950s, there were powerful intellectual and political forces propelling the subject toward such general theoretical models of development and underdevelopment. First, many writers who popularized the subject were frankly motivated by a desire to persuade the developed countries to give more economic aid to the underdeveloped countries, on grounds ranging from humanitarian considerations to considerations of cold-war strategy. Second, there was the reaction of the newly independent underdeveloped countries against their past “colonial economic pattern,” which they identified with free trade and primary production for the export market. These countries were eager to accept general theories of economic development that provided a rationalization for their deep-seated desire for rapid industrialization. Third, there was a parallel reaction, at the academic level, against older economic theory, with its emphasis on the efficient allocation of scarce resources and a striving after new and “dynamic” approaches to economic development.
All of these forces combined to produce a crop of theoretical approaches that soon developed into a fairly fixed orthodoxy with its characteristic emphasis on “crash” programs of investment in both material and human capital, on domestic industrialization, and on government economic planning as the standard ingredients of development policy. These new theories have continued to have a considerable influence on the conventional wisdom in development economics, although in retrospect most of them have turned out to be partial theories. A broad survey of these theories, under three main heads, is given below. It is particularly relevant to the debate over whether the underdeveloped countries should seek economic development through domestic industrialization or through international trade. The limitations of these new theories—and how they led to a gradual revival of a more pragmatic approach todevelopment problems, which falls back increasingly on the older economic theory of efficient allocation of resources—are subsequently traced.

QUESTION FOUR
Development economics is a branch of economics that focuses on the economics of country development. It focuses on how people in a society can escape poverty and enjoy a better standard of living.
• Development economics focuses on how people in a society can escape poverty and enjoy a better standard of living.
• Development economic studies can be divided into economic and social aspects.
• Development economic research can help policymakers to make better decisions and formulate the right plans.
Aspects of Development Economics
Country development and development economics both involve a wide range of studies. Primarily, development economics can be divided into two categories – economic and social.
1. Economic
Economic growth
Development economics uses economic growth as an indicator of country development efficiency. Economic growth shows how well a country is running and potentially growing. It is the most obvious and quantitative indicator for the evaluation of country development.
Structural change
Structural change is the way a country’s economy is organized and how a market functions. It’s usually in between free-market operation and state control. Structural change is the most fundamental aspect of country development. Hence, development economics also study the structural changes in a country.
Technological changes
Technology can significantly change economic behavior, such as production and consumption. When a new technology appears, development economics will analyze its effect on country development.
2. Social
Social aspects of development economics analyze the economic consequences of social-related development.
Institutions
Institutions are essential for a country’s economy. Well-established institutions facilitate economic and country development.
Education
Educated human capital leads to better economic production and a higher standard of living. Many countries focus on investing in their human capital through education. Therefore, development economics considers the economic results of such education policies. It is primarily about finding the current human capital level, developing, and providing direction for education policy.
Public health
Better living standards include improvement in public health. Countries see public health as part of their development. Since public health advancement involves a substantial cost, development economics is crucial.
Working conditions
Working conditions are closely associated with the advanced level of an economy. Working conditions include salaries and employee benefits, which represent the purchasing power in an economy. Development economics can assist in evaluating the impact of working conditions on the future economy.

QUESTION FIVE
Sauvy’s French audience would know that Third Estate allusion. Before the French Revolution, the Estates-General were France’s legislative body, comprised of the First Estate (the clergy), the Second Estate (the aristocracy) and the Third Estate (the commoners — aka, everyone else). In 1789, the Abbé Sieyès, a philosopher and revolutionary, published a pamphlet that began: “What is the Third Estate? Everything. What has it been hitherto in the political order? Nothing. What does it desire to be? Something.” In Sauvy’s implicit scheme, the capitalist West was the aristocracy, the communist bloc the clergy, and the leftovers … the leftovers.
Although Sauvy would claim credit for coining “Third World” (en français: “Tiers Monde”), the term did not seem to catch on quickly in his field, population science. Sauvy himself relied on another term in his 1961 book Fertility and Survival — “underdeveloped.” Sauvy didn’t like “underdeveloped” — he called it “even more cruel than its predecessors with its scientific pretension and its implication of superiority” — but said it was the accepted term.
The term Third World did, however, catch on in the softer sciences — like cultural studies, where it was tentatively adopted and then roundly critiqued. The complaints? That Third World lumped in unalike countries in very different situations, like Chile, Haiti, China. It sounds derogatory, like third place. It is a definition in opposition to, rather than an affirmative one. And, of course, now that the Cold War is over, so is the notion of a non-aligned bloc.
Alfred Sauvy first coined the term ‘Third World.’ Almost 70 years later, the former president of the World Bank Robert B. Zoellick declared the demise of the “outdated categorizations of First and Third Worlds,” and confined all categorizations dividing the world into parts to the dustbin of history. According to Zoellick, “the developing world is becoming a driver of the global economy” and “North and South, East and West, are now points on a compass, not economic destinies.”
Besides Zoellick’s reasoning that the objective political-economic conditions for multiple ‘worlds’ are withering, self-declared progressives keep reminding us that the concept ‘Third World’ is “out of date, insulting and confusing,” and that it “reinforces the idea of superiority and hierarchy,” as is claimed in this blog. “The fact that this term is outdated may seem blatantly obvious to me, but that’s probably only because I studied International Relations and Politics at University and have worked in International Development for almost a decade,” the author claims.

But just like the development industry is drenched with neoliberal ‘NGOism’, modern theories of International Relations remain heavily dominated by Western thought. This is all in contrast with a radical and non-Eurocentric reading of the actual history of the Third World. Told from the perspective of those who made this history, this article aims to show how the legacy of the Third World is one of anti-colonial, anti-imperialist struggles for peace, development and liberation of the majority of the world’s peoples.
“Three Worlds, One Planet”
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.
auvy 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?:
What is the Third Estate? Everything.
What has it been until now in the political order? Nothing.
What does it want to be? Something.
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.

HEZEKIAH JOY CHIWONKE
2019/245662
ECONOMICS/PHILOSOPHY
Hezekiahjoy224@gmail.com
1.
The end point of development is that a means of obtaining a BETTER LIFE is secured. A kind of living that shows improvements in only a few facets of life is GOOD, but can be made BETTER. Hence, the concept of development spans across the Economic, social and institutional framework of every society.
It is no doubt Prof. Todaro, Michael P. asserted that Development must be characterised by at least three objectives. These objectives in a way are closely linked with the three Core Values of Development. And so the objectives, what Development seeks to attain in every society are;
To increase the availability and widen the distribution of life sustaining goods such as food, shelter, health and protection.
This is the first stage in the process of development, as one needs to survive before he thinks of attaining any feat. When there is no chance for survival, then the realization of one’s potential will not be feasible. One has to have enough I order to be more. In every society that pursues Development, these life sustaining goods are necessary, as if any of these were in critically short supply, such society would be in the state of Absolute underdevelopment. Though a country should be experiencing a rise in its GDP, but when this is not backed with a corresponding improvement in its provisions for sustenance to the least average person in it’s territory then it is not experiencing development.
To raise level of living including in addition to higher incomes, the provision of more jobs, better education and greater attention to cultural and human values.
Now there are certain values that forms the foundations of humanity. One of it is that of projecting one’s identity . It is considered desirable that a society is accorded recognition in the national sphere. Hence, the objective of raising the standard of living is not just to enhance material well-being but to also provoke or generate individual and national self esteem. A society can only be highly esteemed based on her worth, and so the level of living is one way to determine a society’s worth.
To expand the range of economic and social choices available to individuals and countries. And this would be done by freeing them from servitude and dependence on not only other people and/or other countries but also on the forces of ignorance and human misery. Sen saw capabilities as, “ The freedom that a person has in terms of the choice of what he does or can do with the commodities of given characteristics that they come to possess or control.” For freedom to exist, it is indicative of the fact that the great divide between the haves and the have-nots is abridged.

2.
In UN’s conscious attempt to measure human development, came up with The Human Development Index, as it gives focus to the qualitative aspects of human development. The UN’s HDI sees that two other critical indices which are Health(longevity) and Education(knowledge) are not sidelined as indicators to Human Development.
Hence the UN came out with three basic dimensions of human development to measure a country’s average achievements. Which are;
Long and Healthy Life (Longevity)
Longevity is measured by Average Life Expectancy (in years) at birth, computed by assuming that babies born in a given year will experience the current death rate of each age cohort ( the first year, second year, third year and so forth through the nth year) through out their lifetime.
This dimension bothers on improving the quality of life of humanity, from the quality of food, to health conditions, to environmental conditions as well as embracing industrialization, Artificial Intelligence to cut down the level of stress.
Educational attainment
In the UNDP it was stated about Brazil that, ‘…only Primary schools end up being relatively targeted to the poor, not because the government succeeded in targeting resources but because richer households send their children to private schools…’ Now, how about the secondary schools, for the fact that there was a high record of Primary school education, does not necessarily imply that there will be such influx of the have-nots into higher education.
As Education gives the opportunity to acquire the necessary skills and knowledge that will enable people to develop their potential, it is necessary that the level of educational attainment is high. Hence, this dimension is a composite of two variables; a two-thirds weight based on the adult literacy rate(in %) and a one-third weight based on the combined primary, secondary and tertiary Gross enrollment rate (in%). This dimension is measured by the Education Index.
A decent Standard of Living
It is measured by the economic metric, the GNI Index. It is the Gross National Income per capita based on Purchasing Power Parity which is the metric used to reflect average income. PPP is a metric for comparing relative GNIs and GDPs of different countries instead of the exchange rates so that living standards across these countries can be measured accurately. Hence, this dimension of HDI can be used to accurately question national policy choices and to decipher how two countries having the same level of income per person can still have widely different human development outcomes.
3.
Economists after the Second World War became concerned about the low standard of living in so many countries particularly those in Latin America, Africa and Asia. It was after the Second World War that a number of developing countries attained their Independence from their colonial masters. And so one of the claims held by the leaders of the Independence Movements was that Western Colonialism was responsible for perpetuating low living standards in African colonies.
For instance, the Agricultural land of Nigeria was mined of its cash crops to sponsor the European countries during the war. During which Nigeria experienced an economic boom. However, after gaining her political Independence it looked as though, economically she had not gained independence. As such, Economic Development became part of the objectives of the Independence Movements and not only an ethical drive. Latin America also believed that the Economic domination of the Industrial countries checkmated their Development and that their policies were to blame for the poverty of the developing countries. And so it was thought that Accelerated investment in Industrialization and the development of manufacturing industries to supplant imports through Import Substitution was the pathway to development in the LDCs.
Notwithstanding, the economies of the LDCs were so different from the Developed countries that basic Economics could not explain the behavior of LDC economies. It is no wonder Seers held that in a bid to study the developing world, a student trained in the Developed world will have to drop every prior doctrine absorbed about Development that prevails in their current world so as to adapt to the situations that prevails in the developing world. In other words, the principles applied in the study of development Economics in Developed economies should not be also applied in exact terms in developing countries.
Traditional Economics is an approach to Economics that emphasizes utility, profit maximization, market efficiency and determination of equilibrium. However, Development Economics has a greater scope, and so in addition to what traditional economics offers, it must also deal with the economic, social, political and institutional mechanisms, both public and private, necessary to bring about rapid and large-scale improvements in levels of living for the LDCs. Also, unlike the Developed economies, the LDCs are plagued with a highly imperfect commodity and factor markets, limited information, economic policies are highly influenced by socio-political priorities.
As existing and traditional areas of economics was not sufficient to bring a significant shift in the Economic vistas of many developing nations, there was then a need for a separate field – Development Economics. Its ultimate end is that we gain insights about developing economies in order to help improve the material lives of the majority of the global population.
4.
According to Seers, Development Economics analyses 75 – 80% of the LDCs, whose economies are highly characterized by persistent poverty, large income and assets inequalities, low levels of education and health, it is to these ends and more that categorically, reasons for studying Development Economics was outlined. Of which are;
Moral and Ethical Reasons
Here we seek to establish or enshrine political, social, and institutional mechanisms to bring about rapid improvements in the standard of living of LDCs. Establishing economic, social structures to shape the problems of underdevelopment and come up with prospects for successful development.
Our own welfare
Here we seek to know the sources of national and international economic growth and to know the beneficiaries of such economic growth. Knowing whether expanded international trade will benefit the entire globe, and the proportion to which such benefits will be distributed. To know the impact of Foreign aid on developing nations.
Private Interests
Seek to establish educational systems that will promote economic growth. When and how should developing countries protect local industries. Forecasting the gains or profits of multinational corporations and Investments in developed countries.
Intellectual Curiosity
Here we seek to know how and why some countries develop rapidly whereas others lag behind, what are the causes of extreme poverty and what policies are most effective in improving the lot of the extremely poor. To know why a lot still continue to migrate to township from villages, despite the high cost of living in township.
5.
French Scientist, Alfred Sauvy coined the word, ‘the third world ‘ in 1952 at the height of the Cold War. The word applied to the developing countries that remained outside the two power blocs but belonged to the non-communist world. Sauvy is famously tagged with the statement; “ …like the third estate, the third world is nothing and it wants to be something…” So we could get perspectives from Joseph Sieyes as he was the one that first wrote about the third estate was nothing.
It was in response to the three rhetorical questions given by Necker, the then France Finance minister to invite writers to state how they thought the Estates-General should be organized. The questions and responses are:
What is the Third Estate? Everything
What has it been hitherto in the political order? Nothing
What does it desire to be? To become something
Sieyes argued that the Third Estate is in truth France’s only legitimate Estate representing as it does the entire population and it bears the weight of the majority of tax.
In the same light did Sauvy see the Third world. Like Sieyes’ Third Estate, the Third World are nothing as they have a weak or no Identity in the global sphere. In one sense, it could mean they are exploited. In another it could mean their non-alignment with the two economic blocs, i.e. the Industrialized Capitalist world and the Industrialized Communist world. The Third World are seen as underdeveloped and have no self-esteem to decide in matters that concerns the global village. And of course the Third World seeks to become something that’s why it strives for development.

Name_odum precious naomi
Reg.no_2019/241331

1. Todaro defines development “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 absolute poverty. Development, in its essence, must represent thewhole gamut of change by which an entire social system, tuned to the diverse basic needs and desires of individuals and social groups within that system, moves away from a condition of life widely perceived as unsatisfactory and toward a situation or condition of life regarded as materially and spiritually ‘better’.”Todaro believes there are three core values of development and these core values are life-sustenance,…show more content…
Life expectancy rose from 63 years to nearly 65 years. An additional 8 percent of the developing world’s people received access to water. And an additional 15 percent acquired access to improved sanitation services.
However, problems of inequality do exist with economic development and inequalities may lead to lower living standards of the poorer. Gillis claims that the ultimate goal of development, that is to say, development is first and foremost a process involving people, who are both the supreme movers of development and its beneficiaries (Gillis 1996).There are several measures that are used to measure economic development such as GNP/GDP per capita, population growth and structure, health, education, technology, employment, rural/urban migration, rights of women and distribution of poverty and income. Statistically, GDP per capita is generally acknowledged as the best single indicator but composite indicators of development are also used. One such index is the Human Development Index (HDI) which includes GDP per capita, life expectancy and literacy rates.So for economic growth to be sustainable, it must have a neutral effect on resources. Any resources used must be renewable and there must be no lasting impact on the environment. Why is sustainable development important then? Well it is important that development is sustainable to ensure that it can endure in the long-term and is not built on the exploitation of natural resources that may run out in the future.
2.1. National Income as an Index of Development:

There is a group of certain economists which maintains the growth of national income should be considered most suitable index of economic development. They are Simon Kuznets, Meier and Baldwin, Hicks D. Samuelson, Pigon and Kuznets who favored this method as a basis for measuring economic development. For this purpose, net national product (NNP) is preferred to gross national product (GNP) as it gives a better idea about the progress of a nation.According to Prof. Meier and Baldwin, “If an increase in per capita income is taken as the measure of economic development, we would be in the awkward position of having to say that a country had not developed if its real national income, had risen but population had also risen at the same rate.”
2. Per Capita Real Income:

Some economists believe that economic growth is meaningless if it does not improve the standard of living of the common masses. Thus, they say that the meaning of economic development is to increase aggregate output. Such a view holds that economic development be defined as a process by which the real per capita income increases over a long period time. Harvey Leibenstein, Rostow, Baran, Buchanan and many others favour the use of per capita output as an index of economic development.
3. Economic Welfare as an Index of Economic Development: Keeping in view the drawbacks of real national income and real per capita measures of economic development, some economists like Coline Clark, Kindleberger, D. Bright Singh, Hersick etc. suggested economic welfare as the measure of economic development.
4. Standard of Living Criterion:
Another method to measure economic development is the standard of living. According to this view, standard of living and not rise in per capita income or national income should be considered an indicator of economic development. The very objective of development is to provide better life to its people through improvement or upliftment of the standard of living. In other words, it refers to increase in average consumption level of the individual. But, this criteria is not practicably true.
Let us suppose, national income and per capita both increase but the government mops up this income with the way of heavy dose of taxation or compulsory deposit scheme or any other method, in such a situation, there is no possibility to raise to average consumption level i.e., standard of living.
Moreover, in poor countries, propensity to consume is already high and stern efforts are made to reduce superfluous consumption in order to encourage savings and capital formation. Again ‘standard of living’ is also subjective which cannot be determined with objective criterion.
5.Quality of Life and Expectancy
When the basic facilities like water, electricity, and housing are available to anyone that the quality of life is considered as good in that nation.Here the measuring factor is the needs of the people. These needs are basic needs like access to health, sanitation, education, nutrition, etc.For this, the main factor is the infant mortality rate. This is the death rate of a child who is less than a year old. While life expectancy is the average life of the population that lives.
6. Human Development Index
It includes several factors like long and healthy living, the welfare of the people, etc. This index also includes the standard of living of people, literacy rate, and purchasing power parity in terms of real income.
7. Real Gross National Product
As mentioned above, GNP, as well as GDP, are the measuring factors for economic development of a nation. Increase in both of these ensures that the larger availability of the good and services in that country. If this supports the standard of living of the people than it increases the economic conditions of the nation.But there are some limitations to this as well. Like the increase in the size of GDP does not directly means the more availability of services and goods.
Whenever the GDP is calculated for the current prices, there may be an increase due to price rise. This does not mean the availability of goods and services have increased.

3.As an academic discipline, development economics was established in the mid-40s and early 1950s, some 60 years ago, with recessions in the industrialized economies wrecking the prior international division of labor where developing countries could rely on industrial imports in exchange for primary goods exports, and with newly independent countries emerging from the breakdown of colonial empires, both creating demand for guidelines in the catching up process.Development economics is the study of how emerging nations become more financially stable. It can be used as a tool for students and economists working to develop policies that can be used in creating domestic and international policy.Ultimately, the study of development economics is meant to help better the financial, economic and social circumstances in developing countries through the enactment of certain structures and policies.

4. Ultimately, the study of development economics is meant to help better the financial, economic and social circumstances in developing countries through the enactment of certain structures and policies. We also study development economics for various reasons like:
.To Analyze the rate of population increase, affecting the economic development
.To Examine the structural transformation and implement fiscal policies
accordingly
. To Assess factors like education, healthcare, and employment conditions
.To Promote international trade (import and export) among world nations
.To Develop ways to achieve sustainable development
. To Evaluate an economy, fix problems in it, and predict economic development
. To Understand the economic effects of pandemics and natural disasters
. For job creation
. For industry diversification
. For business retention and expansion etc.

5. The economically underdeveloped countries of Asia. Africa. Oceania and Latin America – is considered as an entity with common characteristics, such as poverty, high birth rates, and economic dependence on the advanced countries. Until recently, the developing world was known as ‘the third world’. The French demographer Alfred Sauvy coined the expression (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’. 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 a second idea, also discussed by Sauvy – that of nonalignment, for the developing world belongs neither to the industrialised capitalist world nor to the industrialised former communist bloc. The expression ‘third world’ was used at the 1955 conference of Afro-Asian countries held in Bandung. Indonesia. In 1956 a group of social scientists associated with Sauvy’s National Institute of Demographic Studies, in Paris, published a book called ‘Le Tiers-Monde’. Three years later, the French economist Francois Perroux launched a new journal, on problems of underdevelopment, with the same title. By the end of the 1950s, the term was frequently employed in the French media to refer to the underdeveloped countries of Asia. Africa, Oceania and Latin America. Present-day politicians and social commentators, however, now use the term ‘developing world’ in a politically correct effort to dispel the negative connotations of ‘third world’.Countries in the developing world have a number of common traits: distorted and highly dependent economies devoted to producing primary products for the developed world; traditional, rural social structures; high population growth and widespread poverty. Nevertheless, the developing world is sharply differentiated, for it includes countries on various levels of economic development. And despite the poverty of the countryside and the urban shantytowns, the ruling elites of most third world countries are wealthy.This combination of conditions in Asia, Africa, Oceania and Latin America is linked to the absorption of the developing world into the international capitalist economy, by way of conquest or indirect domination. The main economic consequence of Western domination was the creation, for the first time in history, of a world market. By setting up sub-economies linked to the West throughout the developing world, and by introducing other modern institutions, industrial capitalism disrupted traditional economies and, indeed, societies. This disruption led to underdevelopment. Because the economies of underdeveloped countries have been geared to the needs of industrialised countries, they often comprise only a few modem economic activities, such as mining or the cultivation of plantation crops. Control over these activities has often remained in the hands of large foreign firms. The prices of developing world products are usually determined by large buyers in the economically dominant countries of the West, and trade with the West provides almost all the developing world’s income. Throughout the colonial period, outright exploitation severely limited the accumulation of capital within the foreign-dominated countries. Even after decolonisation the economies of the developing world grew slowly, or not at all, owing largely to the deterioration of the ‘terms of trade’ – the relationship between the cost of the goods a nation must import from abroad and its income from the exports it sends to foreign countries. Terms of trade are said to deteriorate when the cost of imports rises faster than income from exports. Since buyers in the industrialised countries determined the prices of most products involved in international trade, the worsening position of the developing world was scarcely surprising. Only the oil-producing countries – after 1973 – succeeded in escaping the effects of Western domination of the world economy.No study of the developing world could hope to assess its future prospects without taking into account population growth. While the mortality rate from poverty-related diseases continues to cause international concern, the birth rate continues to rise at unprecedented levels. This population explosion in the developing world will surely prevent any substantial improvements in living standards, as well as threaten people in stagnant economies with worsening poverty and starvation levels.

Name: John Blessing Rosemary
Reg no: 2019/241898
Course: Eco 361
1. Todaro emphasized the “good life” that individuals and societies ought to pursue as based on three core values: life sustenance, self esteem, and freedom from servitude. He further stressed that development must be regarded as multi-dimensional involving major changes in social structure, popular institutions, as well as the acceleration of economic growth, the reduction of inequality, and the eradication of absolute poverty.” He
further explained that development must represent the whole gamut of change by which the entire social system, tuned to the diverse basic needs and desires of individuals and social groups within that system, moves away from a condition greatly perceived to be unsatisfactory towards a situation or condition of life regarded as materially and spiritually better. Todaro also, thus provide a normative philosophical and
humanistic dimension to development but taking on a much holistic integrative
perspective by emphasizing the need for accelerated economic growth along with social and institutional component. By this, he points out that the problem of underdevelopment and inequality is largely structural in nature and proliferated by
existing institutions in society it promotes rather than prevents inequality, inadequate
redistribution of wealth, blocks access to basic services, and are the very cause of
deprivation thereby impeding attainment of development objectives on top of efforts and intervention.

2. The Human Development Index (HDI) is a statistic developed and compiled by the United Nations since 1990 to measure various countries’ levels of social and economic development. It is composed of four principal areas of interest: mean years of schooling, expected years of schooling, at birth, and gross national income (GNI) per capita. It can also be measured using the following, Gross Domestic Product (GDP), GNP per capital, Birth and death rates, The Human Development Index (HDI), Infant mortality rate, Literacy rate and life expectancy.

3. The knowledge of development economics therefore helped to solve the problem of poverty in latin America, Asia and Africa after the world war 2. So it was made a branch of economics for students to study and bring out solutions to other economic problems.

4.There are so many reasons why we study development economics.
a. we study development economics to reduce the rate of poverty in the country. poverty has become the sole reason for underdevelopment in a country. The study of development economics helps to look into the causes of poverty and a profound solution to it.
b. We study development economics for man’s welfare (happiness, good fortune, prosperity or well being). A close study of development economics bring about growth in the country’s economy which in turn increases the income of the individuals in the country.
c. we study development economics for more knowledge. They say “knowledge is power” knowing about the ways of developing our economy is one knowledge that can be effect if not in a short-run then in a long-run.
d. In the aspect of research, development economic can help policymakers to make better decisions and formulate the right plans.
e. some student study development economics to get high paying jobs. Someone who is equipped with the knowledge of how to develop the economy of a country, has a higher chance of being a budget manager or supervisor.

5. Alfred Sauvy (31 October 1898 – 30 October1999) was a demographer, anthropologist and a 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.
The term “Third World” arose during the cold war to define countries that remained non-aligned with either NATO or the WARSAW PACT. The United states, canada, japan, south korea, western European nations and their allies represented the “first world”, while the soviet union, china, cuba, North korea, vietnam and their allies represented the “second world”. This terminology provided a way of broadly categorizing the nations of the Earth into three groups based on political divisions. Strictly speaking, “Third World” was a political, rather than an economic, grouping. Since the dissolution of the soviet union and the end of the cold war, the term Third World has decreased in use. It is being replaced with terms such as developing, least developing countries or the global south. The concept itself has become outdated as it no longer represents the current political or economic state of the world and as historically poor countries have transited different income stages.(Research made on encyclopedia).

NAME: UGWU SARAH CHINECHEREM
DEPARTMENT: ECONOMICS EDUCATION
REG NUMBER: 2019/241843
COURSE: DEVELOPMENT ECONOMICS (ECO 361)
1, According to Prof. Michael Todaro, the three objectives of Development include,Producing more life sustaining necessities such as food shelter & 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.
Michael Todaro specified three objectives of development:
1. “To increase the availability and widen the distribution of basic life-sustaining goods such as food, shelter, health and protection.When any one of these is absent or in critically short supply, a condition of absolute “underdevelopment” exists.
2. To raise levels of living including, in addition to higher incomes, the provision of more jobs, better education, and greater attention to cultural and humanistic values, all of which will serve not only to enhance material well-being but also to generate greater individual and national 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.
3. 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.”; the relationship between economic growth and freedom from servitude which 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.

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.

There are several measures that are used to measure economic development such as GNP/GDP per capita, population growth and structure, health, education, technology, employment, rural/urban migration, rights of women and distribution of poverty and income. Statistically, GDP per capita is generally acknowledged as the best single indicator but composite indicators of development are also used. One such index is the Human Development Index (HDI) which includes GDP per capita, life expectancy and literacy rates
The Human Development Index (HDI) is a statistic developed and compiled by the United Nations since 1990 to measure various countries’ levels of social and economic development. It is composed of four principal areas of interest: mean years of schooling, expected years of schooling, life expectancy at birth, and gross national income (GNI) per capita.
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.
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.
Development economics after World War II
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.
After the 2nd World War and the difficulties of the interwar period, the market economy reached a high point with characteristic basic features. During this stage you can differentiate two clearly differentiated moments: 1945-1973: a large number of people increase their standard of living due to the strong expansion and regular growth. 1973-until our days: during this period a series of recessions and economic crises are happening.

4. Many folks study Development Economics for many reasons. Discuss
1. Because Development Economics focuses on how people in a society can escape poverty and enjoy a better standard of living. And this studies can be divided into economic and social aspects. It research can help policymakers to make better decisions and formulate the right plans.
2, And the second reason is because economic development helps you realize your community’s economic vision and take control of your economic future. It can help bring together community residents with private and public sectors. Together you can choose economic development goals and outline how to accomplish those goals.

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.
Like the third estate, wrote Sauvy, the third world is nothing, and it “wants to be something.” 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 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. The expression third world was used at the 1955 conference of Afro-Asian countries held in Bandung, Indonesia. In 1956 a group of social scientists associated with Sauvy’s National Institute of Demographic Studies, in Paris, published a book called Le Tiers-Monde. Three years later, the French economist Francois Perroux launched a new journal, on problems of underdevelopment, with the same title. By the end of the 1950’s the term was frequently employed in the French media to refer to the underdeveloped countries of Asia, Africa, Oceania, and Latin America.

Ikwuagwu Lucy Ogechi
2019/245407
1. According to Prof. Michael Todaro the three objectives of development is:
A. Producing more life sustaining necessities: for a nation to be coined as a developing country, the nation has to be able to produce more food, shelter, health, security, etc for it’s citizens at a steady level.
B. Raising standards of living and individual self esteem: the citizens should be able to earn a living, get good jobs, take care of their families, pay the fees of their children, etc without worrying about debts and lack of amenities, students should be able to go to school without worrying about the school fees.
C. Expanding economic and social choice and reducing fear: as mentioned above, students should be able to pick universities irrespective of the fees, people should be able to begin any job, manual or white collar, any choice they want. The citizens should have multiple choices.
2. There are two sets of indices used to measure development, they are;
A. UN’s human development index: this measures a country’s average achievement in life expectancy, education attainment and purchasing power per person.
B. UN’s human poverty index: this measures deprivation using the percentage of people expected to die before 40, percentage of illiterate adults, percentage of people without access to health services and safe water and the percentage of underweight children under 5.
3. Traditional economic approach failed to explain the pattern of no growth, slow growth or retrogression found in LCD’s after the WW2, therefore developmental economics emerged to help raise the standard of living in many countries.
4. People study developmental economics for different reasons, such as;
A. Moral and ethical reasons: like poverty and inequalities being unfair, development being a human right.
B. Our own welfare: global interactions, to better understand trade and investment.
C. For private interest such as job prospects, perspective on conomics.
5. The french demographer, Alfred Sauvy, coined the expression “tiers monde” meaning “third estate”, who are the commoners as opposed to priests and nobles being in the first and second estates respectively. He wrote that “the third estate is nothing and it wants to be something”, meaning the third world i.e the third estate is exploited but it’s destined for a revolution much like the third estate.

Emesih Amaramsinachi Catherine
2019/241318
Kyraemesih@gmail.Com

1.Prof Michael Todaro argues that development is of three objectives. He saw that development sufficient to growth for every economy’s or nation’s growth saw to providing and distributing more and more human welfare and necessities such as food, shelter, health care, alleviating poverty, inequality, unemployment and also reaching out to enhance the capabilities and people’s capacity to think, reason, innovate and be more productive.

2.UN’s Human Development Index (HDI): This measures a country’s average achievements in three basic dimensions of human development;
• life expectancy
• educational attainment
• adjusted real income (PPP per period)
UN’s Human Poverty Index (HPI): This measures deprivation using the percentage of people expected to die before age 40, percentage of illiterate adults, percentage of people without access to health services and safe water and the percentage of underweight children under five.

3.Traditional approaches produced some interests and even elegant economic model, but these models failed to explain the patterns of no growth, weak or slow. growth and retrogression found in the less developed countries. By the end of 1950, countries of Asia, Africa, Oceania and Latin America were rated underdeveloped.

4.moral and ethnic reasons
• poverty is unfair
• inequality is unfair (at least at current level)
• development is human right
our own welfare
• Global interaction (wars, environment, refugee)
• Global co-existence
• Trade and investment
private interests
• job prospects
• perspectives on economies, common around knowledge

By Sauvy, the quote “the third world is nothing and it wants to be something” implies that the third world is exploited, as much as the third estate; its destiny is a revolutionary one. It conveys as well a second idea also discussed by Sauvy that of non-alignment for the third world belongs neither to theu industrialized capitalist world nor to the industrialized communist bloc.

Chibueze Manna Chioma
2019/244094
ECO major
300 level
ECO 361- Development Economics

1.According to Prof. Michael Todaro, development includes three objectives.
• producing more life sustaining necessities such as food, shelter and health care and broadening their distribution.
• raising standards of living and individual self esteem.
• expanding economic and social choice and reducing fear.

Prof. Michael Todaro just as many others such as Prof. Dudley Seers, Amartya Sen, e.t.c argued and defined development in various ways. Prof Michael Todaro argues that development is of three objectives which are listed above. He saw that the three main roles of development;
• producing more life sustaining necessities such as food, shelter and health care and broadening their distribution: He saw that development sufficient to growth for every economy’s or nation’s growth saw to providing and distributing more and more human welfare and necessities such as food, shelter, health care, alleviating poverty, inequality, unemployment and also reaching out to enhance the capabilities and people’s capacity to think, reason, innovate and be more productive. In this sense, will affect the larger mobilization of resources and raising the productivity output level of the people and make development thrive.

•raising standards of living and individual self esteem: Development enhances the capability of people; the self esteem to be a person and lead the kind of lives they desire, improvement in the wellbeing of the human lives in areas such as health and literacy which helps to be productive and function well in activities and innovative reasoning. It also makes a huge impact positively in the standards and quality of life of the nation by taking account of not just the narrow measure of economic welfare but also the non-economic aspects that have a high impact on the productivity of the population such as more leisure time, access to health resources and care, education, environment, freedom of social justice.

•expanding economic and social choice and reducing fear: Development sees to improving or enhancing individual freedom from servitude; that is enhancing the capability of people make choices; to lead the lives we have reason to value, people’s capacity to think and reason can make development thrive. To be able to choose from various opportunities and resources and empowerment has a great impact on people’s productivity, here a person is employed; not underemployed or working below his ability and functions to the height of his ability. In reducing fear, people can now make choices on their location, vocation without fear of tyranny, environmental disasters and insecurity.

2.Set of indices to measure development by UN.
UN’s Human Development Index (HDI): This measures a country’s average achievements in three basic dimensions of human development;
• life expectancy
• educational attainment
• adjusted real income (PPP per period)
UN’s Human Poverty Index (HPI): This measures deprivation using the percentage of people expected to die before age 40, percentage of illiterate adults, percentage of people without access to health services and safe water and the percentage of underweight children under five.

3.Emergence of Development economics as a branch of economics.
Economics before the World War II were traditionally micro and macro economics during Adams Smith and recorded a high rate of low standard of living in so many countries. The economies of the less developed countries were so different from the developed countries that basic economics could not explain the behavior of less developed countries.
Traditional approaches produced some interests and even elegant economic model, but these models failed to explain the patterns of no growth, weak or slow. growth and retrogression found in the less developed countries. By the end of 1950, countries of Asia, Africa, Oceania and Latin America were rated underdeveloped.

4.Reasons for studying Development Economics.
*moral and ethnic reasons
• poverty is unfair
• inequality is unfair (at least at current level)
• development is human right
*our own welfare
• Global interaction (wars, environment, refugee)
• Global co-existence
• Trade and investment
*private interests
• job prospects
• perspectives on economies, common around knowledge
* Intellectual curiosity
• what causes inequality and poverty and what can be done?
• why do some countries grow and others grow?

5.Sauvy, “the third is nothing and it wants to be something”
In 1952 during the French Revolution, Alfred Sauvy explained the third world countries. He expressed the third world countries into three estates.
1- Priest
2- Noble
3- Commoners; “Tiers Monde”
By Sauvy, the quote “the third world is nothing and it wants to be something” implies that the third world is exploited, as much as the third estate; its destiny is a revolutionary one. It conveys as well 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.
The problem of underdevelopment dominated countries such as Asia, Africa, Oceania and Latin America.

1: 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.

The new view about the development process suggests that one cannot capture the process of development by just per-capita income. It cannot reflect the multidimensional nature of development process. In recent years, a number of different types of measures have been developed to better reflect the multidimensional nature of development process. we will study extensively some of these new measures. We will see that these measures are much better than per-capita income in reflecting the development process and quality of life. However, these are still evolving and should be taken as work in progress.
Next we very briefly discuss the Human Development Index (HDI), which is right now the most prominent indicator of the socio-economic development of countries.

Human development index is an attempt to capture the broader view of development that development involves not only increase in per-capita income but also expansion of the capabilities of individuals. Human capital in terms of education and health is one of the most important determinant and indicator of capability of an individual. They capture important aspects of socioeconomic development of countries and the well being of individuals.
In 1990, the United Nations Development Program (UNDP) developed an index which reflects development in per-capita income as well as human capital. This new index is known as Human Development Index (HDI) and is published annually by the UNDP in their Human Development Reports.
The concept of human development is still evolving. Over time there have been changes in its methodology. Till 2009, HDI was calculated as follows.
Original HDI had three components. The first was life-expectancy at birth, which captures longevity and status of health. It also indirectly reflects infant and child mortality rates. The second was the measure of educational attainment of the society. Educational attainment was measured as a weighted average of adult literacy (with weight 2/3) and a combination of enrollment rates in primary, secondary, and tertiary education (weight 1/3). The last component was the per-capita income. All three components (health, education, and income) were combined to produce HDI score of a country. All three components were given equal weight in the construction of HDI Score.

2: a: Human Development Index (HDI)

Development is measured using the Human Development Index (HDI)). HDI is calculated by the United Nations. It measures average life expectancy, level of education and income for each country in the world. Each country is given a score between 0 and 1 – the closer a country gets to 1, the more developed it is.

b: Literacy rate: the percentage of adults who can read and write.
C: Birth rate: The number of live births per 1,000 people. Birth rates are often high in a less developed country.
D: Access to safe water: The percentage of people who have access to safe, clean water.
E: GNI per capita: Gross national income per person. The value of a country’s income, divided by the number of people in that country.

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 analogous belief that economic domination by the industrial countries had thwarted their development, and they, too, joined the quest for rapid growth. 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.

Development economics may be contrasted with another branch of study, called growth economics, which is concerned with the study of the long-run, or steady-state, equilibrium growth paths of the economically developed countries, which have long overcome the problem of initiating development. The developing and underdeveloped countries are a very mixed collection of countries. They differ widely in area, population density, and natural resources. They are also at different stages in the development of market and financial institutions and of an effective administrative framework. These differences are sufficient to warn against wide-sweeping generalizations about the causes of underdevelopment and all-embracing theoretical models of economic development. But when development economics first came into prominence in the 1950s, there were powerful intellectual and political forces propelling the subject toward such general theoretical models of development and underdevelopment.

4: 1: The answer is that economic development tries to cover the political, social, economic and institutional mechanism with the aim to bring large improvements in the life standards of poor and mal nourished population of the underdeveloped countries like Pakistan, India and Singapore etc.
2: Development economics mainly focuses on the structural changes in every area of the economy. It tries to bring improvements in institutions, technology being used in industries and many other areas. It identifies the economic problems,causes and their consequences in the developing countries and also tell how to overcome these problems. For instance, Pakistan is facing multiple economic problems like poverty, unemployment, unequal distribution of wealth, limited resources, corruption and many other other social issues. Therefore, economic development is concerned with these issues and develops strategies that will enable people to break the vicious circle of poverty and backwardness.
3: to understand the connection between political economy and development.
4: To be concerned about the efficiency of expenditure programs.
5: To see the effectiveness of institutions and policies to address these social issues.

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.

The term therefore implies that the third war is exploited, and that like the third estate . It’s destiny is a revolutionary one , it conveys as well a second idea also discussed by sauvy that of non_alignment, for the developing world belongs neither to the industrialised capitalist world nor to the industrialised former communist bloc. The expression “third world”. Was used at the 1955 conference of Afro_ Asian countries held in Bandung, Indonesia. In 1956 a group of social scientists associated with sauvy’s national institute of demographic studies in Paris, published a book called ‘Le Tiers_Monde’. Three years later the french economist

Name: Aniukwu Chisom Sylvia.
Reg.No: 2019/243386.
Department :Economics.
Course title : Development Economics 1
Course code: Eco 361
1.According to Todaro, Development must, therefore, be conceived of as a multi-dimensional 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 absolute 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 desires 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 as materially and spiritually “better”.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
2.The main social indicators of development include education, health, employment rates and gender equality. Some examples of social indicators of development include: Education levels – for example how many years of schooling children have,Health – often measured by life expectancy,Employment Rates,Gender equality,Peacefulness,Democracy,Corruption,Media freedoms,Civil Rights,Crime/ social unrest,Suicide Rates,Gross national income per capita(ppp).
A well known example of a social indicator of development is the Human Development Index.The HDI( Human Development Index) is a summary composite measure of a country’s aveg rage achievements in three basic aspects of human development: health, knowledge and standard of living. It is a measure of a country’s average achievements 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 capita in PPP terms in US$.
The HDI sets a minimum and a maximum for each dimension, called “goalposts”, then shows where each country stands in relation to these goalposts. This is expressed as a value between 0 and 1. The higher a country’s human development, the higher its HDI value.
3.As soon as England succeeded in industrializing ahead of its neighbors, development economics was born. It stimulated the design of accelerated industrialization strategies in France after the end of the Napoleonic wars, in Germany under Bismarck, in Russia after the abolition of serfdom, in the United States following the Civil War, and in Japan with the Meiji restoration. As an academic discipline, development economics was established in the mid-40s and early 1950s, some 60 years ago, with recessions in the industrialized economies wrecking the prior international division of labor where developing countries could rely on industrial imports in exchange for primary goods exports, and with newly independent countries emerging from the breakdown of colonial empires, both creating demand for guidelines in the catching up process.
4.Development economics is the study of how emerging nations become more financially stable. It can be used as a tool for students and economists working to develop policies that can be used in creating domestic and international policy.Ultimately, the study of development economics is meant to help better the financial, economic and social circumstances in developing countries through the enactment of certain structures and policies.Development economics is also abranch of economics that focuses on the economics of country development. It focuses on how people in a society can escape poverty and enjoy a better standard of living. Development economics also gives 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.
5.Sauvy was a French demographer who coined the term “third world” in a magazine article in 1952, just as the Cold War was heating up. His point was that there were countries not aligned with the United States or the Soviet Union that had pressing economic needs, but whose voices were not being heard. Sauvy deliberately categorized these countries as inferior: “Tiers monde” (or third world) was an explicit play on “tiers état” (third estate), the ragged assembly of peasants and bourgeoisie under France’s ancien régime that was subservient to the monarchy (the first estate) and the nobility (the second). “The third world is ignored, exploited and mistrusted, just like the third estate,” Sauvy wrote. “The millennial cycle of life and death has become a cycle of misery.”

1.The three objectives of development are as follows:
a. Producing more life sustaining necessities such as food, shelter, health care and broadening their distribution. This entails making of human major needs which are food, clothing and shelter always available for everyone in a given nation. And everyone being treated equally in the distribution of these basic needs. So as for such nation to experience development.
b. Raising standard of living and individual self esteem: Here is another objective of development which centers its attention in the improvement of standard of living of the people. Improvement in standard of living can be, providing awareness of learning different skills that can derive power financially (money). Furthermore, raising individual self esteem this is when individuals are been taught to always believe in themselves and trust the process that someday you could be beneficial to the economy or nation in one way or the other.
c. Expanding economic social choice and and reducing fear: this part talks about increasing the relationship between individual values preference and rights. So as to reduce fear in most individuals.
2. a. United Nations Human development index. This combines one economic indicators(purchasing power perity) with two other social indicators life expectancy and years of schooling into one score and ranks countries accordingly. Because countries with higher HDI are richer while countries with lower HDI are poorer.
b. Human poverty index measures deprivation using percentage% of people expected to die before the age of 40% of illiterate adults percentage of people without access to health services and safe water and the per % of under weight children under five.
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 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.Development economics may be contrasted with another branch of study, called growth economics, which is concerned with the study of the long-run, or steady-state, equilibrium growth paths of the economically developed countries, which have long overcome the problem of initiating development.
Growth theory assumes the existence of a fully developed modern capitalist economy with a sufficient supply of entrepreneurs responding to a well-articulated system of economic incentives to drive the growth mechanism. Typically, it concentrates on macroeconomic relations, particularly the ratio of savings to total output and the aggregate capital–output ratio (that is, the number of units of additional capital required to produce an additional unit of output). Mathematically, this can be expressed (the Harrod–Domar growth equation) as follows: the growth in total output (g) will be equal to the savings ratio (s) divided by the capital–output ratio (k); i.e., g = s/k. Thus, suppose that 12 percent of total output is saved annually and that three units of capital are required to produce an additional unit of output: then the rate of growth in output is 12/3% = 4% per annum. This result is obtained from the basic assumption that whatever is saved will be automatically invested and converted into an increase in output on the basis of a given capital–output ratio. Since a given proportion of this increase in output will be saved and invested on the same basis, a continuous process of growth is maintained.
1. For moral and ethical reasons: the study of development economics is vital so as make everyone look or being treated equally as others. Also it helps individuas to know their rights as a citizen of a developed country. Also so as to acquire know to fight and overcome poverty.
2. For our welfare as citizens of a nation: so as to enable the nation to be free from war, and also have conducive and peaceful environment.. Also for the purpose of global coexistence.
3. Private interest : This is one of the reasons people study development economics so
that that can get employed.
4. Intellectual curiosity: So as to know the causes of inequality and poverty and solutions to curb them.
5. The term therefore implies that the third world war is exploited much as the third estate was exploited and that like the third estate is destiny is revolutionary one. It conveys as well as a second idea of 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.
The expression third world was used at the 1955 conference of Afro-asian countries held in Bandung Indonesia. In 1956 a group of social scientists associated with Sauvy’s National institute of demographic studies in pairs published a book called Le Tiers-monde.
Three years later, the french economist Francis perroux launched a new journal on problems of undevelopment, with the same title. By the end of 1950’s the term was frequently employed in French media to refer to the under developed countries of Asia, Africa, Oceania and Latin America.

Okoro Henry Chukwuebuka
Economics department
2019/249001

Answers:
Economist Michael Todaro specified three objectives of development:
LIFE SUSTENANCE NECESSITY
Producing more life sustaining necessity such as food, shelter, health care and broadening their
distribution is one of the three objective of development, the government and the private sector
should ensure there is sufficient food and make provision for Good hospital and educational
sector should establish good schools with a good high standard of learning.
STANDARD OF LIVING AND INDIVIDUAL SELF ESTEEM:
The government should provide an avenue towards giving incentive to workers and increment in
salary this will increase income and boost there standard of living. Creating job opportunities by
embarking on projects useful to the society, the citizen self esteem should be maintained and
protected by taken care of their needs thereby promoting human rights

2. CITIZENS – many of the goals focus on lifting people out poverty and hunger and providing a
decent education for all
CLIMATE CHANGE– there is a lot more focus on protecting the environment compared to the
original MDGs – for example with the ‘life under water’ goal.
PROSPERITY– there is a focus on improving lives through enterprise and innovation, linking
into partnership below
PEACE AND SECURITY – the agenda recognises that there can be no effective development
without peace.
PARTNERSHIP AMONG COUNTRIESS– there is much more focus on the agenda for
sustainable development being a partnership between developed and less developed countries
than with the original MDGs.
3. World War II or the Second World War, often abbreviated as WWII or WW2, was a world war
that lasted from 1939 to 1945. It involved the vast majority of the world’s countries—including all
of the great powers—forming two opposing military alliances: the Allies and the Axis powers.
World War II was a total war that directly involved more than 100 million personnel from more
than 30 countries.
It ended with the 1973–1975 recession or 1970s recession, was a period of economic
stagnation in much of the Western world during the 1970s, putting an end to the overall
post–World War II economic expansion. It differed from many previous recessions by involving
stagflation, in which high unemployment and high inflation existed simultaneously.
Development economic emerged as a branch of economic which entails economic expansion
and which became active after the world war2 and recession.
The United States, the Soviet Union and Western European and East Asian countries in
particular experienced unusually high and sustained growth, together with full employment.
Contrary to early predictions, this high growth also included many countries that had been
devastated by the war, such as Japan (Japanese economic miracle), West Germany and
Austria (Wirtschaftswunder), South Korea (Miracle on the Han River), Belgium (Belgian
economic miracle), France (Trente Glorieuses), Italy (Italian economic miracle) and Greece
(Greek economic miracle). Even countries that were relatively unaffected by the war such as
Sweden (Record years) experienced considerable economic growth.
4. Development economics attempts to explore some of the economic challenges peculiar to some
of the poorest countries in the world. In this module you will investigate the factors that have led
to this global inequality.
As part of this study programme, you will see the way in which economics can help our
understanding of some of the major challenges of the 21st century, including:
It helps economists to be conscious about uncertain crisis which can plague the economy.
It helps the Government to know what the citizens really want and to be able to fulfil their
aspiration in life
Risk Management is one of the reasons why it’s important to include or why economic
development is studied in schools. It brings the minds on what risk is all about and how to
manage it.
Development Economic will enhance a nation on the importance of Multilateral ability.
Sustainable Development can be obtained with the study of development Economic.
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.
5. Alfred Sauvy (31 October 1898 – 30 October 1990) 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.
The term “Third World” arose during the Cold War to define countries that remained non-aligned
with either NATO or the Warsaw Pact. The United States, Canada, Japan, South Korea,
Western European nations and their allies represented the “First World”, while the Soviet Union,
China, Cuba, North Korea, Vietnam and their allies represented the “Second World”. This
terminology provided a way of broadly categorizing the nations of the Earth into three groups
based on political divisions. Strictly speaking, “Third World” was a political, rather than an
economic, grouping.Since the dissolution of the Soviet Union and the end of the Cold War,
the term Third World has decreased in use. It is being replaced with terms such as developing
countries, least developed countries or the Global South. The concept itself has become
outdated as it no longer represents the current political or economic state of the world and as
historically poor countries have transited different income stages.
The Third World was normally seen to include many countries with colonial pasts in Africa, Latin
America, Oceania, and Asia.
Some countries in the Eastern Bloc, such as Cuba, were often regarded as “Third World”.
Because many Third World countries were economically poor and non-industrialized, it became
a stereotype to refer to developing countries as “third world countries”, yet the “Third World”
term is also often taken to include newly industrialized countries like Brazil, China and India now
more commonly referred to as part of BRIC.
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

According to prof. Michael Todaro in
his three main objectives of development states
i. producing more life, sustaining necessities such as food, shelter and health care and broadening their distribution.
in this statements he talks about how the availability of food, shelter and healthcare to citizens to helps in the development. When these basic need are absent then the area will be underdevelopment
ii.Raising standards of living and individual self esteem.
in this objective he talks about the standard of living of citizens, creating of job opportunities and raising the citizens out of poverty. When someone is out of poverty his self esteem will increase.
iii. expanding economic and social choices and removing fear.
this objective talks about improvement in the economy, creating high and standard jobs for the citizens and removing fear means making the country stable without any terror

2.The HDI is a summary measure of human development.
The HDI is a summary composite measure of a country’s average achievements in three basic aspects of human development: health, knowledge and standard of living. It is a measure of a country’s average achievements in three dimensions of human development:
First stage
a long and healthy life, as measured by life expectancy at birth

Second stage
knowledge, as measured by mean years of schooling and expected years of schooling; and

Third stage
a decent standard of living, as measured by GNI per capita in PPP terms in

3.Economists after the world war 2 became concerned about the low standard of living in so many countries .
the economies of the less developed countries were different from the developed countries that basic economics couldn’t explain the behaviour of less developed countries.
emergence of development economics wasn’t only to promote economic growth and structural changes but also improving the potentials for the mass of the population.
emergence of development economics was centered on making the economy better in all dimensions of improvements.

4.a.To help Evaluate current development practices
b.Provide direction for country development
Define problems in future country development
C.Indicate the economic aspects of country development
D. For better employment

5.Term coined in the early 1950s by the French demographer and economist Alfred Sauvy, by reference to the Third Estate (this majority group of people who, in the Old Regime, belonged neither to the clergy nor to the nobility) to designate the poor countries that could not be called either capitalist or socialist. The term has enjoyed extraordinary success, becoming synonymous with underdeveloped countries, without having the pejorative nuance of the latter designation.

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.

“Human development is the expansion of people’s freedom to live long, healthy and creative lives; to advance other goals they have reason to value; and to engage actively in shaping development equitably and sustainably on a shared planet. People are both the beneficiaries and the drivers of human development, as individuals and in groups”

2. There are many different measures used to assess the development gap, each one offering an alternate way of dividing up the world with regards to how developed it is. Here, we shall look at some of the most common indicators of development used in geography.

Gross Domestic Product (GDP)
GDP is s how much money a country makes from its products over the course of a year, usually converted to US Dollars:

the sum of gross value added by all resident producers in the economy + product taxes – any subsidies not included in the value of the products.
Gross National Product (GNP)
GNP is the GDP of a nation together with any money that has been earned by investment abroad minus the income earned by non-nationals within the nation.

GNP per capita
GNP per capita is calculated as GNP divided by population; it is usually expressed in US Dollars.

It’s a common indicator used for measuring development, but is imperfect as the calculation doesn’t take into account certain forms of production, such as subsistence production.

Birth and death rates
Crude Birth and Death rates (per 1000) can be used as an overall measure of the state of healthcare and education in a country, though these numbers do not give a full picture of a nation’s situation.

The Human Development Index (HDI)
The HDI is a composite statistic calculated from the:

Life expectancy index
Education index
Mean years of schooling index
Expected years of schooling index
Income index
Countries are ranked based on their score and split into categories that suggest how well developed they are.

Infant mortality rate
Infant mortality rate is the number of infants dying before reaching one year of age per 1,000 live births in a given year.

Literacy rate
The rate, or percentage, of people who are able to read is a useful indicator of the state of education within a country.

High female literacy rates generally correspond with an increase in the knowledge of contraception and a falling birth rate.

Life expectancy
This simple statistic can be used as an indicator of the:

healthcare quality in a country or province
level of sanitation
provision of care for the elderly
It should not, of course, be used on its own to describe these things.

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 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.

4. The answer is that economic development tries to cover the political, social, economic and institutional mechanism with the aim to bring large improvements in the life standards of poor and mal nourished population of the underdeveloped countries like Pakistan, India and Singapore etc.

Development economics mainly focuses on the structural changes in every area of the economy. It tries to bring improvements in institutions, technology being used in industries and many other areas. It identifies the economic problems,causes and their consequences in the developing countries and also tell how to overcome these problems. For instance, Pakistan is facing multiple economic problems like poverty, unemployment, unequal distribution of wealth, limited resources, corruption and many other other social issues. Therefore, economic development is concerned with these issues and develops strategies that will enable people to break the vicious circle of poverty and backwardness. So that every individual of the developing country will enjoy a quality life.

5. The Developing World Reading Answers
THE DEVELOPING WORLD – the economically underdeveloped countries of Asia. Africa. Oceania and Latin America – is considered as an entity with common characteristics, such as poverty, high birth rates, and economic dependence on the advanced countries. Until recently, the developing world was known as ‘the third world’. The French demographer Alfred Sauvy coined the expression (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’. 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 a second idea, also discussed by Sauvy – that of nonalignment, for the developing world belongs neither to the industrialised capitalist world nor to the industrialised former communist bloc. The expression ‘third world’ was used at the 1955 conference of Afro-Asian countries held in Bandung. Indonesia. In 1956 a group of social scientists associated with Sauvy’s National Institute of Demographic Studies, in Paris, published a book called ‘Le Tiers-Monde’. Three years later, the French economist Francois Perroux launched a new journal, on problems of underdevelopment, with the same title. By the end of the 1950s, the term was frequently employed in the French media to refer to the underdeveloped countries of Asia. Africa, Oceania and Latin America. Present-day politicians and social commentators, however, now use the term ‘developing world’ in a politically correct effort to dispel the negative connotations of ‘third world’.

1. 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.

2. The measurement of development efforts in developing countries has generally focused on the growth of GNP per head and related concepts. Increasingly, development economists have become aware that growth of output or income by themselves are not adequate indicators of development, and that the reduction of poverty and the satisfaction of basic human needs are goals that should show up in a measure of development. There has been growing interest in designing better measures of development, including modifications of GNP, social indicators and associated systems of social accounts, and composite indices of development. A review of these approaches and concepts points to the conclusion that the use of social and human indicators is the most promising supplement to GNP, particularly if work on social indicators is done in areas central to the basic needs approach.

3.During the Second World War, the United States had a centrally planned economy. Strategic resources were produced in quantities set in Washington, and allocated among end users by the public officials sitting on the War Production Board. Key prices and wages were administered, not left to markets. The large majority of investment was directed, financed, and, in most cases, owned by the federal government. Thousands of private businesses that failed to comply with the planners’ instructions were simply taken over by the government—including some of the country’s largest corporations, like Montgomery Ward. For millions of Americans, the photograph of Ward’s adamantly anti-Roosevelt chairman Sewell Avery being carried from his headquarters by a squad of soldiers crystallized the new relationship between government and capital.

What are we to make of the fact that economic life was “quite completely regimented” (in the approving words of Admiral Harold Bowen) during the war? For novelists of the front lines, it could appear as part of a vast impersonal machine, consuming human lives as means to an inscrutable end. Think of Corporal Fife in The Thin Red Line, watching his transport ship coming under attack by Japanese planes: “A regular business venture, no war at all. It was weird and wacky and somehow insane. . . . It was as though a clerical, mathematical equation had been worked out, as a calculated risk.” For historian Mark Wilson, whose attention is fixed on the home front, there’s no such ambivalence. His new book Destructive Creation is a defense of the management of the war economy by “clerical, mathematical equation,” against those on the right, who attribute wartime production to the genius of private business, and those on the left, who see the wartime state as an engine of profiteering and monopoly. The book is animated by the idea that wartime planning represents a lost model for effective public direction of the economy: “If American policymakers had applied the lessons of World War II mobilization to the toughest challenges of the later twentieth century, people around the world would be better off today.”

The Second World War was certainly an economic success story, in that it coincided with the most rapid economic growth in U.S. history. Much of this growth came not in the recovery from the Depression, but in the post-1940 period, when the country was already more or less at full employment. Between 1938 and 1944, unemployment fell by about 10 million. (This includes people leaving the Works Progress Administration and similar jobs programs.) Over the same period, private employment and military employment each rose by 10 million, implying 10 million new entrants to the labor force—mostly women. At the same time, workers shifted from less productive activities (especially agriculture) to more productive jobs in industry. Industrial productivity—output per hour—also rose rapidly.

Wilson is certainly right that the federal government played a central role in this vast expansion of productive capacity. Even before Pearl Harbor, it was clear to the leaders of the mobilization effort that the peacetime system of allocating industrial inputs by markets was breaking down in the face of a rapid expansion of military production. Materials like steel, copper, aluminum, and rubber were in short supply, exacerbated by hoarding by contractors who wanted to ensure that their own orders were filled. Even more critically, investment in new industrial capacity—after 1940, almost all directed and financed by Washington—could only be decided if future supplies of critical raw materials were known. (There was no point in building a new bomber factory if there wouldn’t be enough aluminum for it to make planes from.) Ad hoc price controls and the crude “priority” system reserving key materials for military use were not enough—an explicit planning process was needed.

Economic planning during the war also led to a broader rationalization of economic life. Much macroeconomic data begins around 1945—it was first collected to aid in wartime planning. The estimates of actual versus potential output that guide so much macroeconomic policy today emerged out of the “feasibility debates” between civilian economists and military planners—a fascinating story barely touched on by Wilson but told in detail in Paul Koistinen’s Arsenal of World War II (2004), which remains the definitive history of wartime economic planning. The same goes for other belligerents. Richard Werner (in Princes of the Yen, 2003) convincingly argues that the planning apparatus that guided Japan’s postwar economic miracle was the product of the war—early twentieth-century Japanese capitalism more closely resembled the freewheeling liberal, market-centered American system than what we have come to think of as the “East Asian model.” Turning back to the United States, it’s clear that much of what the businesses objected to as “red tape” was simply that in order to win government contracts, they had to adopt explicit cost accounting, wage schedules, and other hallmarks of the modern managerial firm.

4.
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ECONOMIC DEVELOPMENT
Top 6 Reasons that Economic Development is Important to a Region’s Economy [Infographic]
APR 21.2022
A Roche 5×7 Amanda Roche 1
By Amanda Roche Director, Marketing and Communications

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. The Orlando Economic Partnership’s economic development team works to attract and retain jobs for the Orlando region as well as grow existing industry sectors. The Partnership also works to align the region with a vision for the region’s growth that increases participation in the local economy (a vision the Partnership has termed Broad-Based ProsperityTM). While the work of economic developers often falls under the radar, building and sustaining the regional economy is a critical component to a successful community.

These are the top six reasons why economic development plays a critical role in any region’s economy.

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 executes 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 projects and 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 improves the economy of the region and raises 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.

5. The economically underdeveloped countries of Asia, Africa, Oceania, and Latin America, considered as an entity with common characteristics, such as poverty, high birthrates, and economic dependence on the advanced countries. 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.” 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 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. The expression third world was used at the 1955 conference of Afro-Asian countries held in Bandung, Indonesia. In 1956 a group of social scientists associated with Sauvy’s National Institute of Demographic Studies, in Paris, published a book called Le Tiers-Monde. Three years later, the French economist Francois Perroux launched a new journal, on problems of underdevelopment, with the same title. By the end of the 1950’s the term was frequently employed in the French media to refer to the underdeveloped countries of Asia, Africa, Oceania, and Latin America.

Name: Mbah Somtochukwu Victor Kirian
2019/244244
Department: combined social sciences (economics/political science)
Course code: Eco 361

Answers

1. 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.

2. (I) The Human Development Index (HDI) is a statistic developed and compiled by the United Nations since 1990 to measure various countries’ levels of social and economic development. It is composed of four principal areas of interest: mean years of schooling, expected years of schooling, life expectancy at birth, and gross national income (GNI) per capita, this index is a tool used to follow changes in development levels over time and compare the development levels of different countries.

(ii) The Human Poverty Index (HPI)
The Human Poverty Index complements the HDI as it is an indication of the standard of living in an economy. It considers the level of poverty and deprivation of a community in a country. The HPI uses two indices:
1. The HPI-1 is used to measure developing countries.
2. The HPI-2 is used for developed countries that are part of the Organization for Economic Co-operation and Development (OECD).
The HPI has limited utility as it combines the average deprivation levels of each dimension and it can’t be linked to any particular group of people.

3.

4. Development economics focuses on how people in a society can escape poverty and enjoy a better standard of living. Development economic studies can be divided into economic and social aspects. Development economic research can help policymakers to make better decisions and formulate the right plans.

5. The term, 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 a second idea, also discussed by Sauvy – that of non-alignment,
for the developing world belongs neither to
the industrialised capitalist world nor to the
industrialised former communist bloc. The
expression ‘third world’ was used at the 1955
conference of Afro-Asian countries held in
Bandung, Indonesia. In 1956 a group of social
scientists associated with Sauvy’s National
Institute of Demographic Studies, in Paris,
published a book called ‘Le Tiers-Monde.

CHIDOZIE CHINAEMEREM TRUST
2019/241722
EDU ECONS

1. According to Prof. Micheal Todaro, the three objectives of Development include,Producing more life sustaining necessities such as food shelter & 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.

a. Provision of lifes neccessity: the aim of development is to provide people with shelter, food and clothing.It has been noted that Development is said to exist if there is an increase in the availability and improvement of food, shelter and clothing. If a country has more poor citizens than rich citizens or majority of the people die mostly because of malnutritionvor lack of food, then that country has not attained their aims of development.
b. Increase in the standards of living: Increase in the standards of living equals development in a country. It starts from their income though. If a country is able to provide employment for its citizens and pay them their wages, this will enable the people to pay their Bill’s without much stress. As they pay their bills, it increases their self esteem. And as they get more income, they enrol their children in school for better education. In this way, the objectives of development in the country is reached.
c. Expansion of economic and social choice and reduction of fear. With more development comes more security. When a country is developed, it puts the interest of the people at heart by providing for the security needs of the people. This reduces the fear among individuals.

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.

These indices are as follows;
a. UN’s Human Development Index( HDI): This measures a country’s average achievement in three dimension.
i. Life expectancy
ii. Educational attainment
iii. adjusted real income
If these above mentioned areas are very low in a country, then that country is said to be underdeveloped. It is not developing at all.
b. UN Human Index ( HPI): This measures the deprivation using;
i. Percentage of people expected to die before age 40
ii. percentage of illiterate adults
iii. percentage of people without access to health services and safe water.
iv. percentage of underweight children under five years.

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 the \

Basic economies could not explain the behaviour of Less Developed countries economies because their economies were very different from that of the developed countries. Even upon introducing Traditional approaches that produced interesting and elegant economic models to the Less developed Countries, yet those models failed to explain the pattern of bo growth, slow growth, and retrogression in these countries. Hence Development Economies emerged to solve this critical issue.

4. Many folks study Development Economics for many reasons. Discuss

People study development economics for many reasons. These reasons are as follows;
a. Moral and ethical reasons: These reason has to do with the human society and the hindrance lack of development pose. People study Economic development in order to know the cause of Poverty and eradicate it. Inequality is another social vice that people seek to eradicate and studying Economic development will help to curb it. In our society today, human rights are been trampled on, the study development economics helps to know those rights.
b. Our own Welfare: Development economies is for the country’s welfare and the world at large. It will stop global interactions like wars, refuges. It will also make for global coexistence and increase or encourage trade and investment.
c. Private Interest: People study development economies to help them in finding jobs.
d. Intellectual curiosity: People study Development economies because the are curious and will want to know answers to economic problems like, what causes inequality and poverty and what can be done? why do some countries grow and others dont? etc.

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

Sauvy words indicate that the third world wants to be exploited and their destiny is a revolutionary one. They want to revolt or rebel against the developed countries so that they can leave the position of the third world.
Also Sauvy’s words also implies that the third world belongs neither to the industrialized capitalist world nor to the industrialized communist bloc. They are just standing alone. They are not aligned with the developed countries. These third world countries are underdeveloped countries which consist countries in Asia, Africa, Oceania and Latin America.

Name:- Onwukwe Joseph Nwachukwu
Reg no:- 2019/243773
Email:- Emelikejoseph200@gmail.com

1.According to Prof.  Michael Todaro, the three objectives of Development include,Producing more life sustaining necessities such as food,shelter & 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

ANSWER:- Producing more life sustaining necessities.
Food:- Adequate food is a universal human right that is realized when all people have physical and economic access at all times to adequate food or the means for its procurement, without discrimination of any kind.
Shelter:- Adequate housing provides people with dignity and the opportunity to lead a normal life. Shelter plays an essential role in reducing vulnerability and building resilience.
Healthcare:- Health care is also a good summative measure of the progress of nations in achieving sustainable development. It contributes to national development through productive employment, reduced expenditure on illness care and greater social cohesion.
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.

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.

ANSWER:- The UN uses the (HDI) Human Development Index to measure development.The Human Development Index (HDI) is a statistic developed and compiled by the United Nations since 1990 to measure various countries’ levels of social and economic development. It is composed of four principal areas of interest: mean years of schooling, expected years of schooling, life expectancy at birth, and gross national income (GNI) per capita.
(a). Mean years of schooling:- Mean years of schooling (MYS), the average number of completed years of education of a population, is a widely used measure of a country’s stock of human capital. The global average is 8.7 years.
(b). Expected years of schooling:- Expected years of schooling is the number of years a child of school entrance age is expected to spend at school, or university, including years spent on repetition. It is the sum of the age-specific enrolment ratios for primary, secondary, post-secondary non-tertiary and tertiary education. Source.
(c). Life expectancy at birth:- Life expectancy at birth is derived from life tables and is based on sex- and age-specific death rates. Life expectancy at birth values from the United Nations correspond to mid-year estimates, consistent with the corresponding United Nations fertility medium-variant quinquennial population projections.
(d). Gross National Income(GNI):- The total amount of money earned by a nations people and businesses, both inside and outside the country or region borders.It is used to measure and track a nation’s wealth from year to year. 

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 the

ANSWER:- 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.

4.Many folks study Development Economics for many reasons. Discuss

ANSWER:- (a). To understand the proximate reasons for poverty, underdevelopment, caste and gender discrimination and so on.
(b). To see the effectiveness of institutions and policies to address these social issues.
(c). Self Interest:- To understand a perspective of Economics ( In terms of Economic growth), For Job prospect,To commune all round Knowledge.
(d). Our Own Welfare:- Global interactions, Global Co-existence, Trade and Investment.

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.

ANSWER:- The term therefore implies that the Third World is exploited as much as the Third Estates are exploited and that like the Third Estate, Its destiny is a Revolutionary one. It explains the 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 block. The expression Third World was used at the 1955 conference of Afro-Asian countries held in Bandung, Indonesia. In 1956, a group of Social scientist associated with Sauvy’s National Institute of Demographic Studies, In Paris, published a book called Le tier Monde.

1.According to Prof. Michael Todaro, the three objectives of Development include,Producing
more life sustaining necessities such as food shelter & 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.
Economist Michael Todaro specified three objectives of development:
LIFE SUSTENANCE NECESSITY
Producing more life sustaining necessity such as food, shelter, health care and broadening their
distribution is one of the three objective of development, the government and the private sector
should ensure there is sufficient food and make provision for Good hospital and educational
sector should establish good schools with a good high standard of learning.
STANDARD OF LIVING AND INDIVIDUAL SELF ESTEEM:
The government should provide an avenue towards giving incentive to workers and increment in
salary this will increase income and boost there standard of living. Creating job opportunities by
embarking on projects useful to the society, the citizen self esteem should be maintained and
protected by taken care of their needs thereby promoting human rights
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.
CITIZENS – many of the goals focus on lifting people out poverty and hunger and providing a
decent education for all
CLIMATE CHANGE– there is a lot more focus on protecting the environment compared to the
original MDGs – for example with the ‘life under water’ goal.
PROSPERITY– there is a focus on improving lives through enterprise and innovation, linking
into partnership below
PEACE AND SECURITY – the agenda recognises that there can be no effective development
without peace.
PARTNERSHIP AMONG COUNTRIES– there is much more focus on the agenda for
sustainable development being a partnership between developed and less developed countries
than with the original MDGs.
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
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war
that lasted from 1939 to 1945. It involved the vast majority of the world’s countries—including all
of the great powers—forming two opposing military alliances: the Allies and the Axis powers.
World War II was a total war that directly involved more than 100 million personnel from more
than 30 countries.
It ended with the 1973–1975 recession or 1970s recession, was a period of economic
stagnation in much of the Western world during the 1970s, putting an end to the overall
post–World War II economic expansion. It differed from many previous recessions by involving
stagflation, in which high unemployment and high inflation existed simultaneously.
Development economic emerged as a branch of economic which entails economic expansion
and which became active after the world war2 and recession.
The United States, the Soviet Union and Western European and East Asian countries in
particular experienced unusually high and sustained growth, together with full employment.
Contrary to early predictions, this high growth also included many countries that had been
devastated by the war, such as Japan (Japanese economic miracle), West Germany and
Austria (Wirtschaftswunder), South Korea (Miracle on the Han River), Belgium (Belgian
economic miracle), France (Trente Glorieuses), Italy (Italian economic miracle) and Greece
(Greek economic miracle). Even countries that were relatively unaffected by the war such as
Sweden (Record years) experienced considerable economic growth.
3.Many folks study Development Economics for many reasons. Discuss
Development economics attempts to explore some of the economic challenges peculiar to some
of the poorest countries in the world. In this module you will investigate the factors that have led
to this global inequality.
As part of this study programme, you will see the way in which economics can help our
understanding of some of the major challenges of the 21st century, including:
It helps economists to be conscious about uncertain crisis which can plague the economy.
It helps the Government to know what the citizens really want and to be able to fulfil their
aspiration in life
Risk Management is one of the reasons why it’s important to include or why economic
development is studied in schools. It brings the minds on what risk is all about and how to
manage it.
Development Economic will enhance a nation on the importance of Multilateral ability.
Sustainable Development can be obtained with the study of development Economic.
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.
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.
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.
The term “Third World” arose during the Cold War to define countries that remained non-aligned
with either NATO or the Warsaw Pact. The United States, Canada, Japan, South Korea,
Western European nations and their allies represented the “First World”, while the Soviet Union,
China, Cuba, North Korea, Vietnam and their allies represented the “Second World”. This
terminology provided a way of broadly categorizing the nations of the Earth into three groups
based on political divisions. Strictly speaking, “Third World” was a political, rather than an
economic, grouping.[1] Since the dissolution of the Soviet Union and the end of the Cold War,
the term Third World has decreased in use. It is being replaced with terms such as developing
countries, least developed countries or the Global South. The concept itself has become
outdated as it no longer represents the current political or economic state of the world and as
historically poor countries have transited different income stages.
The Third World was normally seen to include many countries with colonial pasts in Africa, Latin
America, Oceania, and Asia.
Some countries in the Eastern Bloc, such as Cuba, were often regarded as “Third World”.
Because many Third World countries were economically poor and non-industrialized, it became
a stereotype to refer to developing countries as “third world countries”, yet the “Third World”
term is also often taken to include newly industrialized countries like Brazil, China and India now
more commonly referred to as part of BRIC.
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.

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.
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.
2. •Poverty:
=Proportion of population living below national
poverty line
= Ratio of share in national income of highest to
lowest quintile
=Proportion of population using improved
sanitation facilities
=Proportion of population using an improved
water source
=Share of households without electricity or other
modern energy services
=Proportion of urban population living in slums
•Governance:
= Percentage of population having paid bribes
=Number of intentional homicides per 100,000 population
• Health:
=Under-five mortality rate
=Life expectancy at birth
=Percent of population with access to primary health care
•facilities:
=Immunization against infectious childhood diseases
=Nutritional status of children
=Morbidity of major diseases such as HIV/AIDS, malaria,
tuberculosis

3.Encyclopedia Britannica economic development.
Development thought after World War II
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.
4. The study of development economics allows one to gain the opportunity to apply economic analysis theories and practices to develop and implement policies aimed at putting a less-developed economy on the path of development. It focuses on economic variables such as GDP, supply and demand, and market rivalry.
5. ‘Third World’ was coined in 1952 by Alfred Sauvy at the height of the Cold War and applied to the developing countries that remained outside the two power blocs but belonged to the non-communist world.
Sauvy was making an analogy between pre-industrial nations with the poor of pre-Revolutionary France, who were considered part of the “third estate.”
The modern definition of “Third World” is used to classify countries that are poor or developing. Countries that are part of the “third world” are generally characterized by (1) high rates of poverty, (2) economic and/or political instability, and (3) high mortality rate

GABRIELS SHARON CHISOM
2019/241572
ECONOMICS DEPARTMENT
Sharongabriels123@gmail.com

1- According to Prof.  Michael Todaro, the three objectives of Development include,Producing more life sustaining necessities such as food shelter & health care and broadening their distribution, raising standards of living and individual self esteem, and expanding economic and social choice and reducing fear.
To explain further, when a nation is said to be developed, majority of the population can afford these necessities. Commodities as common as food and shelter are easily accessible to most. Poverty diminishes and hunger as well. Also, the living conditions of majority of the population are conducive. People can afford to live in environment that do not put their health at risk. Suitable living conditions are easily aviailable to majority because of the quality of life of the citizens due to their developed government. In addition, there is standard healthcare for majority of the citizens. Not only is it standard, it is also affordable for majority. In a developed nation, citizens have access to these healthcare services, whereby decreasing in mortality rates. A major indicator of development is an increase in the standard of living of the citizens. From the above mentioned, when majority of citizens can afford the basic necessities of life and even more, there is said to be an increase in the standard of living of those citizens, as compared to your previous living situations. Also, when citizens can freely make economic choices and social choices without considering factors, such as finance and poverty, they they can be said to enjoy your freedom of choice. Finally, in an economy where citizens are not afraid of the living conditions, e.g. robbery, death, accidents, killings, war, hunger, sickness etc. Because they trust the policies put in place so curb these vices, their absence of fear proves that they are in a developed nation.

2- the set of indices developed by the UN and other global agencies on how to measure development. The Human Development Index (HDI) is a statistic developed and compiled by the United Nations since 1990 to measure various countries’ levels of social and economic development. It is composed of four principal areas of interest: mean years of schooling, expected years of schooling, life expectancy at birth, and gross national income (GNI) per capita.
* The health aspect of the HDI is measured by the life expectancy, as calculated at the time of birth, in each country.
* 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.
* 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.

3- Development economics emerged as a branch of economics because economists after World War II became concerned about the low standard of living in so many countries of Latin America, Africa, and Asia. The economies of the less developed countries were so different from the developed countries that basic economics could not explain the behavior of less developed economies. Traditional approaches produced some interesting and even elegant economic models, but these models failed to explain the patterns of no growth, weak/slow growth, or growth and retrogression found in the less developing countries.

4- development economics is studied for many reasons: moral and ethical reasons, our own welfare, private interests and intellectual curiosity.
Development economics is studied for various reasons, and on the the ethical and moral reasons, development economics is studied, because poverty and inequality is unfair. These bridges between economic developments of different countries are studied as they try to understand the causes of such gaps. Also, development is a human right, studying developments would create awareness of your entitlement as a citizen.
For our on welfare, development is studded for global interaction, trade and investments, and global coexistence.
It is necessary for countries to embark in trade and investments with different countries, normally interact and globally coexist.
Development is studied for private interests, people who seek job opportunities in the development field, and all-around knowledge on economic perspectives, study development.
Intellectual curiosity is another reason why development is studied, answers to questions such as why some nations are more developed than others, what causes these developments and what can be done about it are reasons why people study development economics.

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.”
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. The people when you told world wants to be important in the society, I need to get to a point where they will revolt against the systems in place and the masters. It conveys as well 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.

Aniemeka Chijindu Dennis 2019/250915
(1). According to Michael Todaro the objectives of development are;
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. 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.
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.
(2). The major indices of development is Social indicators.
Some examples of social indicators of development include:
– Education levels – for example how many years of schooling children have.
– Health – often measured by life expectancy.
– Employment Rates
– Gender equality
– Peacefulness
– Democracy
– Corruption
– Media freedoms
– Civil Rights
– Crime/ social unrest
– Suicide Rates
A well known example of a social indicator of development is the Human Development Index, which combines one economic indicator (Gross National Income) with two social indicators: life expectancy and years of schooling into one score and ranks countries accordingly.
(3). Development economics allows one to gain the opportunity to apply economic analysis theories and practices to develop and implement policies aimed at putting a less-developed economy on the path of development. It focuses on economic variables such as GDP, supply and demand, and market rivalry.
(4). Development economics attempts to explore some of the economic challenges peculiar to some of the poorest countries in the world. In this module you will investigate the factors that have led to this global inequality.

As part of this study programme, you will see the way in which economics can help our understanding of some of the major challenges of the 21st century, including:

to what extent does rapid population growth help or hinder development?
is it necessary for economies to go through a process of structural transformation – and how does this take place?
what is the role of education and health care provision in contributing to the process of development?
how important is it for countries to engage in international trade in the context of a globalising economy?
how can less-developed countries achieve sustainable development?
what effect has the HIV/AIDS epidemic had on economic and human development?
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.

(5). The economically underdeveloped countries of Asia, Africa, Oceania, and Latin America, considered as an entity with common characteristics, such as poverty, high birthrates, and economic dependence on the advanced countries. 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.” 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 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. The expression third world was used at the 1955 conference of Afro-Asian countries held in Bandung, Indonesia. In 1956 a group of social scientists associated with Sauvy’s National Institute of Demographic Studies, in Paris, published a book called Le Tiers-Monde. Three years later, the French economist Francois Perroux launched a new journal, on problems of underdevelopment, with the same title. By the end of the 1950’s the term was frequently employed in the French media to refer to the underdeveloped countries of Asia, Africa, Oceania, and Latin America.

1.) According to Prof.Micheal Todaro they are three objectives of development:
i.) 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.
ii.) 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.
iii.) 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.

2.) The set of indices developed by the UN and other global agencies on how to measure development:
The Human Development Index (HDI) is a statistic developed and compiled by the United Nations since 1990 to measure various countries’ levels of social and economic development. It is composed of four principal areas of interest: mean years of schooling, expected years of schooling, life expectancy at birth, and gross national income (GNI) per capital. The HDI was created to emphasize that people and their capabilities should be the ultimate criteria for assessing the development of a country, not economic growth alone.
Evaluating a country’s potential for individual human development provides a supplementary metric for evaluating a country’s level of development besides considering standard economic growth statistics, such as gross domestic product (GDP). The United Nations’ Human Development Index (HDI) seeks to quantify a country’s level of prosperity based on both economic and non-economic factors. Non-economic factors include life expectancy, and educational attainment. Economic factors are measured by gross national income (GNI) per-capita. While the U.N. argues that the HDI improves our understanding of relative well-being around the world, economists have criticized the index as overly simplistic and flawed in its methodology.
ii.)The Genuine Progress Indicator(GPI): builds off GDP as an economic indicator by including measures of the impact of economic growth on the environment as well as various social factors. The GPI takes GDP into consideration while also measuring the negative impacts of growth.
iii.)The Human Poverty Index complements the HDI as it is an indication of the standard of living in an economy. It considers the level of poverty and deprivation of a community in a country. The HPI uses two indices:
The HPI-1 is used to measure developing countries.
The HPI-2 is used for developed countries that are part of the Organization for Economic Co-operation and Development (OECD).
The HPI has limited utility as it combines the average deprivation levels of each dimension and it can’t be linked to any particular group of people. It was replaced in 2010 by the multidimensional poverty index (MPI).It differs from the HPI as it assesses poverty at the individual level.

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 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 and that was when development economics emerged as a branch of economics.

4.)Reasons why we study development economics:
Economic development tries to cover the political, social, economic and institutional mechanism with the aim to bring large improvements in the life standards of poor and mal nourished population of the underdeveloped countries like Pakistan, India and Singapore etc.
Development economics mainly focuses on the structural changes in every area of the economy.
It tries to bring improvements in institutions, technology being used in industries and many other areas.
It identifies the economic problems,causes and their consequences in the developing countries and also tell how to overcome these problems. For instance, Pakistan is facing multiple economic problems like poverty, unemployment, unequal distribution of wealth, limited resources, corruption and many other other social issues. Therefore, economic development is concerned with these issues and develops strategies that will enable people to break the vicious circle of poverty and backwardness. So that every individual of the developing country will enjoy a quality life.
It 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.

5.) 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:
The economically underdeveloped countries of Asia, Africa, Oceania and Latin America – is considered as an entity with common characteristics, such as poverty, high birth rates, and economic dependence on the advanced countries. Until recently, the developing world was known as ‘the third world. The French demographer Alfred Sauvy coined the expression (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. The term, therefore, implies that the third world is exploited, much as the third estate was exploited and that, Ilike the third estate, its destiny is a revolutionary one. It conveys as well a second idea, also discussed by Sauvy that of non-alignment, for the developing world belongs neither to the industrialised capitalist world nor to the industrialised former communist bloc. The expression ‘third world’ was used at the 1955
conference of Afro-Asian countries held in
Bandung,Indonesia. In 1956 a group of social scientists associated with Sauvy’s National Institute of Demographic Studies, in Paris, published a book called ‘Le Tiers- Monde. Three years later, the French economist Francois Perroux launched a new journal, on problems of underdevelopment, with the same title. By the end of the 1950s, the term was frequently employed in the French media to refer to the
underdeveloped countries of Asia, Africa, Oceania and Latin America. Present-day politicians and social commentators, however, now use the term ‘developing world’ in a politically correct effort to dispel the negative connotations of ‘third world.

Name : Eze Daniel Uchenna
Reg no: 2018/244280

UNDERSTANDING THE FUNDAMENTALS OF DEVELOPMENT(ECO 361)

QUESTION 1
According to Prof. Michael Todaro, the three objectives of Development include, Producing more life-sustaining necessities such as food, shelter & 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

Answer
According to Michael Paul Todaro (Development Economist) – Development is not purely an economic phenomenon but rather a multidimensional process involving the reorganization and reorientation of an entire economic and social system. Development is the process of improving the quality of all human lives with three equally important aspects.

1. increases in availability and improvements in the distribution of food, shelter, education, health, protection, etc. through relevant growth processes
2. improvements in levels of living, including income, jobs, education, etc. for creating conditions to accord growth through the establishment of social, political, and economic institutions which promote human dignity and respect
3. expansions in the range of economic and social choices available to individuals and nations e.g. varieties of goods and services

Not disregarding the fact that development is measured as growth it can also be seen as the provision or availability of life’s basic necessities such as food, shelter, and healthcare and broadening their distribution, praising standards of living and individual self-esteem, and expanding economic and social choice, and reducing fear. Discuss elaborately

Question 2
Measuring development is a tedious process; many development agencies have tried to develop indicators to measure development. Against, this background discuss the set of indices developed by the UN and other global agencies on how to measure development.

Answer

Some of the indicators used in measuring developments are:

• Human Development Index (HDI): This is an indicator that measures human development and by development, I mean the state of well-being of people.
• Gender Development Index (GDI): This indicator measures gender development
• Human Poverty Index (HPI): This indicator measures poverty growth rate and decline rate
Economic indicators
Gross Domestic Product (GDP)
Type of work (economic sectors)
Social Indicators
education and literacy
health and welfare
Demographic Indicators
Life Expectancy (37 – 80 years)
Infant Mortality (100 per thousand)
Natural Increase (0 – 4.7%)

Question 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 in Latin America, Africa, and Asia. Discuss the /

Answer
After the world war, many economists sought out a way to improve the standard of living,
Some economists even predicted a new crisis of mass unemployment and inflation, arguing that private businesses couldn’t possibly generate the massive amounts of capital necessary to run the pumped-up wartime factories during peacetime.

By the summer of 1945, Americans had been living under wartime rationing policies for more than three years, including limits on such common goods as rubber, sugar, gasoline, fuel oil, coffee, meat, butter, milk, and soap. Meanwhile, the U.S. government’s Office of Price Administration (OPA) encouraged the public to save up their money (ideally by buying war bonds) for a brighter future.
In summary economists in the post world war II era came together to figure out a way to kick-start the economy and as a result aid development of the mass

Question 4
Many folks study Development Economics for many reasons. Discuss

Answer
They are various reasons why people study development economics some of which include:
1. increases in availability and improvements in the distribution of food, shelter, education, health, protection, etc. through relevant growth processes
2. improvements in ‘levels of living, including income, jobs, education, etc. by creating conditions conducive to growth through the establishment of social, political, and economic systems and institutions that promote human dignity and respect
3. Expansion in the range of economic and social choices available to individuals and nations e.g. varieties of goods and services

Question 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 analyze this assertion in detail.

Answer
Alfred Sauvy (1898 – 1990) 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.
“Third world” refers to economically underdeveloped countries. Sauvy was making an analogy between pre-industrial nations with the poor of pre-Revolutionary France, who were considered part of the “third estate.”
When the concept became popularized, it was extended to include the “first” (industrialized or westernized) and “second” (communist) worlds. These distinctions have become less useful with the end of the Cold War.
The meaning of the “Third World” evolved as well. More emphasis was placed on political instability and the lack of economic development. “Third World” came to mean “backward” as much as “unaligned.” Still, the concept of the “Third World” was useful. Nuclear deterrence ensured there would not be a direct confrontation between the forces of NATO and the Warsaw Pact, so Third World countries became the scene of many proxy battles of the Cold War.
There is no official list of First, Second, or Third World countries, but a loose consensus emerged over time. Most of sub-Saharan Africa was considered part of the Third World, as were poorer nations in southeastern Asia such as Laos or Cambodia. Poorer nations in Latin America, such as Guatemala or Mexico also fell in this category. Brazil and India were the most influential Third World Nations throughout the Cold War period.

1. According to Todaro, Development must, therefore, be conceived of as a multi-dimensional 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 absolute poverty.

2. The UN uses the Human Development Index as it’s major tool for measuring development. The Human Development Index (HDI): It is composed of four principal areas of interest: mean years of schooling, expected years of schooling, life expectancy at birth, and gross national income (GNI) per capita.

4. The study of development economics allows one to gain the opportunity to apply economic analysis theories and practices to develop and implement policies aimed at putting a less-developed economy on the path of development. It focuses on economic variables such as GDP, supply and demand, and market rivalry.
The study of development economics also includes the following
Job creation
Industry diversification
Improved quality of life

5. In1952, Alfred Sauvy stratified he society not 3 estate or tier’s; these are the first, second and third estates. The third estate according to Alfred Sauvy refes to the commoners (3rd estate) who are exploited by the priest (1st estate) and the Nobles (2nd estate). The commoners are the ones working the most but barely have a tangible outcome or the efforts they put in, in the same vain the third world countries have little r nothing o show for the effort hey put in so they remain exploited by countries hat are better than them.

1. According to Prof Michael Todaro, the three objectives of development includes;
Producing more life sustaining necessities (goods and services): To increase the availability and broaden 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.
“Human development is the expansion of people’s freedom to live long, healthy and creative lives; to advance other goals they have reason to value; and to engage actively in shaping development equitably and sustainably on a shared planet. People are both the beneficiaries and the drivers of human development, as individuals and in groups”

2. Measuring Development is a tedious process and many development agencies have tried to develop indicators to measure development accurately. Against this background, the set of indices developed by the UN and other global agencies on how to measure development are; Health, Education, and Standard of living. The health component is assessed by life expectancy at birth. Education is measured by the average number of years of school completed by adults as well as the number of years of school expected to be completed by children. Standard of living is assessed by the GNI per capita, which provides a rough measure of the annual national income per person in a country. Those three measures are combined to produce a single Human Development Index (HDI) score.
By including measures from three areas of human development, the HDI can provide insights that a single measure cannot. For example, a country with a higher GNI might have a lower life expectancy and lower educational attainment than a country with a lower GNI. When the three indicators are combined, the country with the higher GNI may have a lower HDI score than the country with the lower GNI. Such a result raises questions about how money is spent and how it might be better used to maximize well-being in the higher-income country. The UN urges governments to consider the HDI when making policy and spending choices that could either positively or negatively affect human development.
The HDI is a useful summary of a country’s achievements in human development, but it is not a comprehensive measure. The UN created additional indexes to account for other factors that influence development. The Gender Development Index, for example, uses the three measures from the HDI but factors in disparities between men and women. The Multidimensional Poverty Index measures how many of a country’s people suffer from multiple overlapping indicators of poverty in health, education, and standard of living.

3. Development Economics emerged as a branch of economics because: Economists after world war 2 became concerned about the low standard of living in so many countries of Latin America, Africa and Asia because Economic development involves Improved quality of life without better infrastructure and more jobs improving the economy of the region and raising the standard of living for its residents. Development economics as a branch of economics focuses on improving fiscal, economic, and social conditions in developing countries. Development economics considers factors such as health, education, working conditions, domestic and international policies, and market conditions with a focus on improving conditions in the world’s poorest countries.
The field also examines both macroeconomic and microeconomic factors relating to the structure of developing economies and domestic and international economic growth.

4. Many folks study development economics for many reasons which includes;
-The study of development economics allows one to gain the opportunity to apply economic analysis theories and practices to develop and implement policies aimed at putting a less-developed economy on the path of development. It focuses on economic variables such as GDP, supply and demand, and market rivalry.
-The study of development economics, gives one an 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 focuses on how people in a society can escape poverty and enjoy a better standard of living. Development economic studies can be divided into economic and social aspects. Development economic research can help policymakers to make better decisions and formulate the right plans.
– Again economic development tries to cover the political, social, economic and institutional mechanism with the aim to bring large improvements in the life standards of poor and mal nourished population of the underdeveloped countries like Pakistan, India and Singapore etc.

Development economics mainly focuses on the structural changes in every area of the economy. It tries to bring improvements in institutions, technology being used in industries and many other areas. It identifies the economic problems,causes and their consequences in the developing countries and also tell how to overcome these problems. For instance, Pakistan is facing multiple economic problems like poverty, unemployment, unequal distribution of wealth, limited resources, corruption and many other other social issues. Therefore, economic development is concerned with these issues and develops strategies that will enable people to break the vicious circle of poverty and backwardness. So that every individual of the developing country will enjoy a quality life.

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.”
Here, the third estate refers to the “commoners aka everyone else.” The third world was also ignored, exploited and scorned. They were the developing and under developed nations that remained outside the two power blocs but belonged to the non-communist world and, the use of Tiers Monde in this context was more of an expression of neglect, exploitation and revolutionary potential.

Name: Ezeh Chiamaka Favour
Reg no: 2019/244443
Dept: Economics
Email address: cfavourezeh2018@gmail.com

1. Like Prof. Michael Todaro said, the 3 main objectives of development are; Producing more life sustaining necessities, Raising standard of living and Expanding economic and social choice. Every nation is trying so hard to develop their country in other to raising the standard of living in the country and also help individuals improve their self esteem, this factor helps in producing the basic necessities of life such as food, shelter, health care and it also helps in the distribution of these necessities, at all levels of development, the three essential ones are for people to lead a long and healthy life, to acquire knowledge, and to have access to resources needed for a decent standard of living.
2. The set of indices used to measure development are in three basic dimensions of human development which are; Life expectancy, Educational attainment and Adjusted real income we can also say that the main social indicators of development include education, health, employment rates and gender equality.
Human Development Indicators published annually by the United Nations Development Programme (UNDP), provide broad measures of well-being worldwide. There are three data dimensions: life expectancy, education, and purchasing power parity. All the above measures of measuring development could be summarized into these four major indicators:
HDI – Human Development Index.
HPI – Human Poverty Index.
Multidimensional Poverty Index.
GPI – Genuine Progress Indicator.

3. The origins of modern development economics are often traced to the need for, and likely problems with the industrialization of eastern Europe in the aftermath of World War II. The key authors are Paul Rosenstein-Rodan, Kurt Mandelbaum, Ragnar Nurkse, and Sir Hans Wolfgang Singer. Economists after world war II because concerned about the low standard of living in so many countries and they brought Development Economics into existence as a branch of Economics to deal with the economic aspect of the development process in every low income country. They didn’t just focus on improving the incomes and the growth of the economy but they also considered improving the potentials for the mass of the population. 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.
4. The study of development economics allows one to gain the opportunity to apply economic analysis theories and practices to develop and implement policies aimed at putting a less-developed economy on the path of development. It focuses on economic variables such as GDP, supply and demand, and market rivalry.
People study Development Economics for Moral and Ethical reasons (like learning that poverty is unfair, inequality is unfair), People also study Development Economics for their own private interests(For job propects, perspectives on economics), we also have people who study Development Economics because of their intellectual curiosity (They want to know what causes inequality and poverty and how it can be eradicated, they also want to know why some countries are growing and others aren’t).
5. 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.
The term ” the third world is nothing, and it “wants to be something.” 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. Because the economies of underdeveloped countries have been geared to the needs of industrialised countries, they often comprise only a few modem economic activities, such as mining or the cultivation of plantation crops. Control over these activities has often remained in the hands of large foreign firms. The prices of developing world products are usually determined by large buyers in the economically dominant countries of the West, and trade with the West provides almost all the developing world’s income. Throughout the colonial period, outright exploitation severely limited the accumulation of capital within the foreign-dominated countries.

1. There are various definitions of research presented by various scholars and authors. In general, research is a way of thinking and finding answers to the questions that come into your mind. In our day-to-day life, we formulate several question in our mind. We want to get answers for these questions. Some of these questions can be answered easily without any need of scientific scrutiny. While there are also some questions that need to be answered in a logical manner. The process that needs to be followed in finding answers to such question should have to be empirical and subjective. The techniques and procedures that need to be used should also be valid and logical. In this way, we are able to get answers that are authentic and verifiable. The research process also requires scientific scrutiny and the procedures involved in this scrutiny should have to be valid and reliable.
From the above explanation, we can conclude that the process that is called research should have the following features:
~ it should be undertaken in a scientific manner, biases and subjectivity should be avoided;
~ the process should follow valid and verifiable tools, techniques and procedures;
~ the process follows the logical and sequential procedures that are established by the academic discipline in which you are conducting research.
~ The process to be followed in the conduction of the research might be different from one discipline to other. The amount of rigor and control that needs to be applied also varies.
Generally, research is the organised and systematic method of finding answers to questions. It is systematic because it is a process broken up into clear steps that lead to conclusions. Research is organised because there is a planned structure or method used to reach the conclusion. Research is only successful if we find answers, whether we like these answers or not. Development research is focussed on relevant, useful and important questions. If there are no questions, there can be no research. Being systematic is searching, selecting and managing the best available evidence for research, according to a defined, planned and consistent method…this should be applied to all types of reviews including data. Application of these systematic methods gives research and until it is applied then it is not complete. This is because the main aim is to get information that is really valid, and it can’t be true except it has been passed through these methods. There are different methods both for collecting and analyzing the data collected for data.

2. Research as Inquiry refers to an understanding that research is iterative and depends upon asking increasingly complex or new questions whose answers develop additional questions or lines of inquiry in any field. This process of inquiry extends beyond the academic world to include instances such as evidence and data collected by groups and individuals in communities and the public at large, and the process of inquiry may also focus upon personal, professional, or societal needs. The spectrum of inquiry thus encompasses processes of basic recapitulation of knowledge and data, by the novice, through increasing stages of greater understanding of a discipline or exchanges between disciplines, among more experienced researchers. To research, some process are required to carefully examine and get results even if the information had been existing;

QUESTION: You begin by questioning a person, place, thing, event, or idea. You settle on a guiding question, discover pointed questions, and use journalistic and Socratic questions to open up the space for information.
Plan: Next, you decide how you will find answers to your questions, considering primary, secondary, and tertiary sources and deciding what you will search for in person, in print, and online.

RESEARCH: Following your plan, you go to libraries and go online, conduct surveys and experiments, have experiences and make observations, and gather and organize your discoveries in notes, links, photos, recordings, and other media.

CREATE: At a certain point, you put the pieces of your research together in a form that others can experience, whether a paper, video, speech, scale model, piece of legislation, composition, or whatever.

IMPROVE: After the initial act of creation, you need to carefully evaluate what you have made, check its effectiveness, and make sure all research is correctly reported and all sources are cited.

PRESENT: At last, you are ready to present what you have found, adding your own work to that of other researchers—thinkers, writers, engineers, scientists, and artists.

3. According to John W. Creswell, “research is a process of steps used to collect and analyze information to increase our understanding of a topic or issue” This definition states that a research is a systematic way to find a solution of a problem and that solution helps in adding to the available knowledge. This step-by-step approach requires formulation of a problem, collecting data to solve that problem and analyzing that data to reach the conclusion about that problem.

4. The three criteria that is required to undertaking a research study includes; philosophies, validity and reliability, unbiased and objectives. philosophies may stem from one of the several para￾digms and approaches in research-positivist, interpretive, phenomenolist, action or participatory, feminist, qualitative, quantitative-and the academic discipline in which you have been trained. A research philosophy is a belief about the way in which data about a phenomenon should be gathered, analysed and used.
The concept of ‘VALIDITY’ can be applied to any aspect of the research process. It ensures that in a research study correct procedures have been applied to find answers to a question. Validity is described as the degree to which a research study measures what it intends to measure. There are two main types of validity, internal and external. Internal validity refers to the validity of the measurement and test itself, whereas external validity refers to the ability to generalise the findings to the target population. Both are very important in analysing the appropriateness, meaningfulness and usefulness of a research study. However, here I will focus on the validity of the measurement technique (i.e. internal validity).
‘RELIABILITY’ refers to the quality of a measurement procedure that provides repeatability and accuracy. In research, reliability describes the degree that the results of a given study can be repeated or replicated under the same conditions. A study with high reliability is one that has consistent results each time it is conducted. Furthermore, reliability is one way that we can determine whether to trust the results of the study. A study with inconsistent results, where the result is different each time the study is completed, indicates that the study has low reliability and isn’t very useful.
‘UNBIASED AND OBJECTIVE’ means that you have taken each step in an unbiased manner and drawn each conclusion to the best of your ability and without introducing your own vested interest. The author makes a distinction between bias and subjectivity. Objectivity is necessary to get an accurate explanation of how things work in the world. Research that show objectivity are based on facts and are free from bias, with bias basically being personal opinion. In science, even hypotheses, or ideas about how something may work, are written in a way that are objective. This means that experiments may prove a hypothesis false if the data does not support it. Any such trend or deviation from the truth in data collection, analysis, interpretation and publication is called bias. Bias in research can occur either intentionally or unintentionally. Bias causes false conclusions and is potentially misleading. Therefore, it is immoral and unethical to conduct biased research.

5. We know now that modern problems require modern solutions. Research is a catalyst for solving the world’s most pressing issues, the complexity of which evolves over time. The entire wealth of research findings throughout history has led us to this very point in civilisation, which brings us to the next reason why research matters. The significance of research cannot be understated. It is integral to succeeding in school as well as in many professions, such as law, writing, and finance. The main purposes of research are to inform action, gather evidence for theories, and contribute to developing knowledge in a field of study. Research is required not just for students and academics but for all professionals and nonprofessionals alike. It is also
important for budding and veteran writers, both offline and online. For nonprofessionals who value learning, doing research equips them with knowledge about the world and skills to help them survive and improve their lives. Among professionals and scribes, on the other hand, finding an interesting topic to discuss and/or to write about should go beyond personal experience. Determining what the general public may want to know or what researchers want others to realize or think about can serve as a reason to do research. Thus, research is an essential component in generating knowledge and vice-versa.

6. A. Explanation is used to investigate how or why a phenomenon takes place. Therefore, this type of research is often one of the first stages in the research process, serving as a jumping-off point for future research. While there is often data available about your topic. It serves the purpose of helping to you analyze these patterns, formulating hypotheses that can guide future endeavors. If you are seeking a more complete understanding of a relationship between variables, explanatory research is a great place to start. Explanatory research answers “why” and “how” questions, leading to an improved understanding of a previously unresolved problem or providing clarity for related future research initiatives.

B. Prediction in research fulfills one of the basic desires of humanity, to discern the future and know what fate holds. Such foresight used to involve studying the stars or looking at the entrails of animals or the behavior of people relative to economic situations. Once researchers have described a certain behavior and explained why it happens, they can better predict how and when it might occur again. The goal of prediction asks “When might this behavior occur again in the future?” or “What would happen if I responded this way?” Researchers can use the data they’ve collected from prior studies to predict when, why, and how certain behaviors will happen in the future. Through prediction, researchers can better understand the underlying causes of our actions. The prediction is a statement of the expected results of the experiment based on the hypothesis. The prediction is often an “if/then statement.”

C. Monitoring in research is the systematic and routine collection of information from projects and programmes for four main purposes:
~ To learn from experiences to improve practices and activities in the future;
~ To have internal and external accountability of the resources used and the results obtained; hi
~ To take informed decisions on the future of the initiative;
~ To promote empowerment of beneficiaries of the initiative.
Monitoring is a periodically recurring task already beginning in the planning stage of a project or programme. Monitoring allows results, processes and experiences to be documented and used as a basis to steer decision-making and learning processes. Monitoring is checking progress against plans. The data acquired through monitoring is used for evaluation.

D. Discovery in research is about how we define its goals, not about data collection methods to accomplish them. It is exploratory research we need when we don’t know in which direction to go to find solutions to a problem.

F. Hypothesis testing allows the researcher to determine whether the data from the sample is statistically significant. Hypothesis testing is one of the most important processes for measuring the validity and reliability of outcomes in any systematic investigation. Hypothesis encourages us to make coherent determinations, the connection among variables and gives the course to additionally investigate. Hypothesis, for the most part, results from speculation concerning studied behaviour, natural phenomenon, or proven theory. An honest hypothesis ought to be clear, detailed, and reliable with the data. In the wake of building up the hypothesis, the following stage is validating or testing the hypothesis. Testing of hypothesis includes the process that empowers to concur or differ with the expressed hypothesis.

E. Controls allow the experimenter to minimize the effects of factors other than the one being tested. It’s how we know an experiment is testing the thing it claims to be testing. This goes beyond science — controls are necessary for any sort of experimental testing, no matter the subject area. When conducting an experiment, a control is an element that remains unchanged or unaffected by other variables. It’s used as a benchmark or a point of comparison against which other test results are measured. Controls are typically used in science experiments, business research, cosmetic testing and medication testing. The processes of quality control can include detecting, reducing, and correcting any problems within a lab. Quality control can also help to make sure that the results of an experiment or method are consistent. Quality control is known as quality assurance or quality management.

7. We can actually agree that the problems of developing countries are multifaceted as well the problems associated with research conducted in these countries. In developing nations, research is in its incessant stage. Researchers face challenges in choosing a research topic, statement etc. In addition, researchers are faced with challenges associated with growth, infrastructural deficiencies, financial crunches, etc. Given Nigeria as an example, it is extremely difficult for research to be successful because of some factors below;

1. LACK OF PROPER RESEARCH ETHICS
Because of the importance of Research in academics, modern inventions, general human life and culture, there are ethical applications and principles which must be judiciously followed when conducting any form of research. Research Ethics involves the application of fundamental ethical principles to a diversity of topics involving research like a Scientific Research. Nigeria researchers and researches done in Nigeria needs to follow the proper ethical applications, approach and principles in conducting research to ensure credibility. Meaning that in other to properly tackle the problems of research in Nigeria, researchers in Nigeria must be well trained.

2. INEFFECTIVE RESEARCH METHODOLOGY
Some academic professionals believe that Research Methodology is a systematic plan for conducting research but a Research Methodology is the general research strategy that outlines the various methods in which a Researcher should go about his research. Research Methodology helps the researcher to identify which method or set of methods or best practices can be applied to a specific study. Wrongly adopted methodology is one of the major problem upsetting Nigerian researchers and largely influencing research results in Nigeria.
Although Nigerian sorely strive to become the best in whatever field they venture into but some Nigerian researchers do not necessarily follow the acceptable, accurate and normal methods of conducting research. To tackle this problem of research in Nigeria, Nigerian researchers should study and follow the appropriate Research Methodology because even though you possess the other nine qualities in this article without following the acceptable and proper Research Methodology your research result, conclusion or theorem will never be accepted.

3. INEFFECTIVE EDUCATION SYSTEM
In other to tackle the problems of research in Nigeria and find possible solutions, researchers must be well trained. How do you train your people to be professional without a functional education system? “Import Knowledge”. Nigeria needs a total makeover in her education sector from basic up to tertiary level. The truth is that our education system is badly broken and barely functional; and it is not necessarily about the education structure, the education systems or the philosophies but our education system is completely ineffective because of the way we teach our future researchers. For example, some Nigerian schools mostly teach only about the theoretical aspect of research rather than the practical aspect of conducting a credible and acceptable research.

4. INEFFECTIVE LIBRARY SYSTEM
A system with a badly broken education system is likely to also have a badly broken library system. School-owned libraries in Nigeria usually offer limited research materials and membership restrictions; public libraries are usually scanty; the best libraries in Nigeria are usually private-owned libraries and also the most valuable libraries. The understocked libraries in Nigeria is another major problem of research in Nigeria. Libraries around Nigeria should be stocked with copies of old and new acts, rules, reports, and other academic, economic and government publications. The very few operational libraries around the country are also poorly managed most times researcher spend most of their time locating the books, journals or reports needed to conduct an acceptable and credible research than actually uncovering relevant evidence, data or information from the materials.

5. LOW ACCESSIBILITY OF DATA AND INFORMATION
information these days is not cheap. With the ineffective educational and library system getting access to data and information will pose somewhat of a barrier to researchers in Nigeria when conducting a research. Nigeria also barely has a data base that is built to take stock of data and information which can easily be retrieved by authorised researchers like in the western countries. The access to journals, reports and statistics needed by researchers in conducting research whether on the internet or in print is outrageously expensive hence encouraging the researcher in Nigeria to abandon the research before actually starting. The Government in collaboration with other corporate organisations operating in Nigeria can provide a helping hand by aiding scientist and researchers to gain subsidized access to any information needed for conducting their research in Nigeria.

6. INSECURITY
Security generally is a problem in Nigeria. The improvised availability of published data from academic institutes, government agencies and other corporate agencies operating in Nigeria is a huge problem of research in Nigeria. Researching a study, a theorem or generally researching in other to accrue more facts sure has its numerous purposes and usefulness to you as a Nigerian but here are 10 Problems of Research in Nigeria and their Possible Solutions.

7. POOR INFRASTRUCTURAL MANAGEMENT
Another major problem of research in Nigeria is the poor state of infrastructure. The laboratories in some Nigerian schools are ill kept, mismanaged and under-maintained hence, discouraging and toting more heaviness on the workload of researchers in Nigeria. The best way to go about finding a possible solution to this problem is to encourage public-private infrastructural development to aid science and research; not just developing the infrastructures but also managing and maintaining what have been developed.

8. LOW ACCESSIBILITY OF DATA AND INFORMATION
information these days is not cheap. With the ineffective educational and library system getting access to data and information will pose somewhat of a barrier to researchers in Nigeria when conducting a research. Nigeria also barely has a data base that is built to take stock of data and information which can easily be retrieved by authorised researchers like in the western countries. The access to journals, reports and statistics needed by researchers in conducting research whether on the internet or in print is outrageously expensive hence encouraging the researcher in Nigeria to abandon the research before actually starting. The Government in collaboration with other corporate organisations operating in Nigeria can provide a helping hand by aiding scientist and researchers to gain subsidized access to any information needed for conducting their research in Nigeria.

9. INSECURITY
Security generally is a problem in Nigeria. The improvised availability of published data from academic institutes, government agencies and other corporate agencies operating in Nigeria is a huge problem of research in Nigeria.

10. LACK OF FUNDS FOR RESEARCH
Time and Money are the two most valuable factors in life and the only two factors you can invest. Another problem of research in Nigeria is the lack of money and time. Research facilities are not cheap to set up these days; neither is the cost of research equipment needed to conduct these research and then the need to properly manage these research facilities and apparatus effectively. Time also is a limiting factor of research in Nigeria because most professionals in Nigeria are either joggling two jobs or too occupied in one job to give time to research. For instance a university lecturer who is also a clinical psychologist.

11. POOR TECHNOLOGICAL ADVANCEMENT
Most of Nigeria researchers are generally old school (pen and paper) and this is a major problem of research in Nigeria because most of these journals, reports and data needed to conduct research are stored in a retrievable technological data base like a secured server by government agencies or corporate organisations operating in Nigeria. A researcher with a limited technological skill would probably spend all his time surfing through useful data on a technological data base without fully knowing the usefulness of such data because of a restricted technological skills or knowledge. In other to effective tackle this problem of research in Nigeria, technological skill should be imbibed school curricula to efficiently prepare the researcher.

12. POLITICAL UNCERTAINTY
Any country with political uncertainty always find its developmental process really hard and unbearably slow. Political Uncertainty is arguably the catalyst for most of the problems of research in Nigeria like the ineffective education system in Nigeria, the ineffective library system in Nigeria, poor infrastructural management in Nigeria and the poor technological advancement in Nigeria. Most of the lecturers, scientists are researcher who should be conducting acceptable and credible research in the laboratories are busy trying to help patch up the suffering democracy, the political uncertainties or aiding to tear everything apart.

1.According to Prof. Michael Todaro, the three objectives of Development include,Producing more life sustaining necessities such as food shelter & 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 ?
answer ;
According to prof. Michael Todaro in
his three main objectives of development states
i. producing more life, sustaining necessities such as food, shelter and health care and broadening their distribution.
in this objective he talks about the availability of food, shelter and healthcare to citizens to contribute to development. the absence of these 3 basic amenities will make the area under developed.
ii.Raising standards of living and individual self esteem.
in this objective he talks about the standard of living of citizens, creating of job opportunities and raising the citizens out of low life .
acquiring self value to individuals to see the reason of living.
iii. expanding economic and social choices and removing fear.
this talks about improvement in economic activities to enable people do a high standard job of their choice freely and willingly. removing fear is to allow the citizens to be free from terror to easily socialize with the society.

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.?
answer ;
UN’s Human development index(HDI) measures country’s average achievement in 3 divergent modes
1st is life expectancy
this talks about the real aim of life . what is been expected from someone to achieve.
2nd is educational attainment
this is explained as the Educational awareness of the citizens. The ability of accessible education to everyone.
3rd is adjusted real income.(PPP)
purchasing power parity .Purchasing power parities (PPPs) are the rates of currency conversion that try to equalise the purchasing power of different currencies, by eliminating the differences in price levels between countries.

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 ?
answer;
economists after the world war 2 became concerned about the low standard of living in so many countries .
the economies of the less developed countries were different from the developed countries that basic economics couldn’t explain the behaviour of less developed countries.
emergence of development economics wasn’t only to promote economic growth and structural changes but also improving the potentials for the mass of the population.
emergence of development economics was centered on making the economy better in all dimensions of improvements.

4. Many folks study Development Economics for many reasons. Discuss ?
answer;
moral and ethical reasoning;
poverty is a no positive outcome so our moral fights against poverty to make the economy a better place and also to eliminate inequality.
Private interest;
this is also why we study development economics.
for better job opportunities.
for finding out research facts .
also for general knowledge.

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. ?
answer ;
Term coined in the early 1950s by the French demographer and economist Alfred Sauvy, by reference to the Third Estate (this majority group of people who, in the Old Regime, belonged neither to the clergy nor to the nobility) to designate the poor countries that could not be called either capitalist or socialist. The term has enjoyed extraordinary success, becoming synonymous with underdeveloped countries, without having the pejorative nuance of the latter designation. However, like any term with a generic vocation, it was open to criticism: As a result, the notion of the third world becomes meaningless, and disappears in favor of developing countries or “countries of the South”, designations that are just as questionable, but for other reasons. 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 . the expression of third world was used at the 1955 conference of afro-Asians countries held in bandung Indonesia.

2019/251298
Ugwuala Faith oluchi
1. What does economic development mean?
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-esteemFreedom 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-being and 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”
Nobel Economist Amartya Sen writing in “Development as Freedom”, sees development as being concerned with improving the freedoms and capabilities of the disadvantaged, thereby enhancing the overall quality of life – what really matters are the capabilities of people, that is, the extent of their opportunity set and of their freedom to choose among this set, the life they value
Amartya Sen pursues the idea that development provides an opportunity to people to free themselves from deep suffering caused by
Early mortality
Persecution
Starvation / malnutrition
Illiteracy
For many, economic development should be about increasing political freedom, cultural and social freedom and not just about raising incomes
Measuring development progress can be difficult not least because of variations in the quality of data produced by different countries and also because of disagreements about which indicators might be given greater weighting when making an assessment. The Human Development Index (HDI) is one such approach.
Amartya Sen on India
In An Uncertain Glory, Sen argues that India’s main problems lie in the lack of attention paid to the essential needs of the people, especially the poor
Despite considerable economic growth and increasing self-confidence as a major global player, modern India is a disaster zone in which millions of lives are wrecked by hunger and by pitiable investment in health and education services. Economic growth without investment in human development is unsustainable and unethical.
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.
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.
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.
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.
The final HDI score for each country is calculated as a geometric mean of the three components by taking the cube root of the product of the normalized component scores
indicators of development used in geography.
Gross Domestic Product (GDP) …
Gross National Product (GNP) …
GNP per capita. …
Birth and death rates. …
The Human Development Index (HDI) …
Infant mortality rate. …
Literacy rate. …
Life expectancy.
3. What is the Third Estate? Everything. What has it been till now in the political order? Nothing. What does it want to be? Something. (Wolf-Phillips (1987). According to Love (1980) the use of Tiers Monde in this context was more of an expression of neglect, exploitation and revolutionary potential. Safire (1972), further argued that tiers monde, was originally popularized in France between 1947 and 1949 and was used to describe parties that pitched their political tent between the Gaullist Rassemblement du people Francais and the regime of the Fourth French Republic (1946 – 5).
According to Safire (1972) President Charles de Gaulle, had also used the phrase tiers monde to describe the role of France, independent of United States foreign policy alliances. Safire (ibid, 1972) further offered a working definition of tiers monde or third force as a weight added at the fulcrum of the balance of power; a group of nations or an ideology that lies between the communist world and the western capitalist camps Wolf-Phillips (1987). In this instance, the term third force or precisely third world was used in a political not economic sense. It is critical to note that today the so called second world or the communist Eastern Europe and the Soviet Union are aggressively pursuing a free market economy. Therefore any numerical first, second and third worlds is obsolete and should be confined to the heaps of ancient history, since you can not have a first and a third in a numerical or arithmetical numbering, without having a second.
Furthermore, Love (1980) referred to a possible
earlier version he assumed was ignored by Worsley (1979) as Juan Peron’s “third Position”. Love (ibid, 1980) argued that Worsley (1979) should have credited Peron’s Argentina along with India, Yugoslavia and Egypt as one of the early champions of neutralism. According to Love (1980), Peron was possibly the first to use the term.
4. Development economics is a branch of economics which deals with the economic development of the third world countries or the developing countries. Why do we study development economics?
The answer is that economic development tries to cover the political, social, economic and institutional mechanism with the aim to bring large improvements in the life standards of poor and mal nourished population of the underdeveloped countries like Pakistan, India and Singapore etc.
Development economics mainly focuses on the structural changes in every area of the economy. It tries to bring improvements in institutions, technology being used in industries and many other areas. It identifies the economic problems,causes and their consequences in the developing countries and also tell how to overcome these problems. For instance, Pakistan is facing multiple economic problems like poverty, unemployment, unequal distribution of wealth, limited resources, corruption and many other other social issues. Therefore, economic development is concerned with these issues and develops strategies that will enable people to break the vicious circle of poverty and backwardness. So that every individual of the developing country will enjoy a quality life.

5. Third world was coined in French (le tiers monde) by the population expert Alfred Sauvy, to refer to those poor countries, especially in Latin America, Africa and Asia, which were aligned with neither the communist nor the capitalist blocs. It appeared in an article in L’Observateur on 14 August 1952. He created it with a nod to a famous pamphlet by the Abbé Sieyès in January 1789 about the Third Estate, le Tiers-État, one of the classes in the Estates-General, a pamphlet that was influential in the lead-up to the French Revolution later that year. The Third Estate was the commons or the ordinary people, the First Estate being the clergy and the Second Estate the nobility (the English term Fourth Estate, the press, came from this classification by analogy some decades later).

Third world was taken up in translation by economists and politicians in Britain and the United States in the early 1960s. By analogy, first world and second world were later coined from it in English, being recorded respectively in 1967 and 1974. The former was a collective term for the developed countries that were based on a capitalist model of high income market economies, of which the USA is the principal example. This was contrasted with the second world, the relatively high income Communist countries or those with centrally planned economies in which the government owns the means of production; here the USSR was the prime case. Neither term was as widely used as third world; both have lost popularity since the fall of the Berlin Wall in 1989 except in historical contexts, though the phrase first world countries for the industrialized nations is still fairly common.

As most third world countries were poor or relatively undeveloped, the term has since shifted in sense somewhat to refer especially to countries with those characteristics, though the formal term for them has progressively become euphemised to developing countries and later still to less economically developed countries.

ONYISI SUNNY HOPE
DEPT: ECONOMICS
REG/NO : 2019/251206

Life sustaining of goods and services: To increase the availability and widen the distribution of basic life-sustaining goods such as shelter, food , protection and health.
Higher incomes: To raise levels of living, 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.
2. •Poverty:
=Proportion of population living below national
poverty line
= Ratio of share in national income of highest to
lowest quintile
=Proportion of population using improved
sanitation facilities
=Proportion of population using an improved
water source
=Share of households without electricity or other
modern energy services
=Proportion of urban population living in slums
•Governance:
= Percentage of population having paid bribes
=Number of intentional homicides per 100,000 population
• Health:
=Under-five mortality rate
=Life expectancy at birth
=Percent of population with access to primary health care
•facilities:
=Immunization against infectious childhood diseases
=Nutritional status of children
=Morbidity of major diseases such as HIV/AIDS, malaria,
tuberculosis

3.Encyclopedia Britannica economic development.
Development thought after World War II
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.
4. The study of development economics allows one to gain the opportunity to apply economic analysis theories and practices to develop and implement policies aimed at putting a less-developed economy on the path of development. It focuses on economic variables such as GDP, supply and demand, and market rivalry.
5. ‘Third World’ was coined in 1952 by Alfred Sauvy at the height of the Cold War and applied to the developing countries that remained outside the two power blocs but belonged to the non-communist world.

NAME: MOETEKE EBELE LOUISA
REG NO: 2019/244608
COURSE: ECO 361
DEPARTMENT: ECONOMICS
EMAIL: moetekeebele@gmail.com
1. According to Prof. Michael Todaro, the three objectives of Development include, producing more life sustaining necessities such as food shelter & 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.
ANSWER
Economist Michael Todaro specified three objectives of development which are;
a) Life sustaining goods and services: 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. Sustainable living describes a lifestyle that attempts to reduce the use of Earth’s natural resources by an individual or society. It is referred to as zero wastage living” or “net zero living”. Its practitioners often attempt to reduce their ecological footprint including their carbon footprint by altering their home designs and methods of transportation, energy consumption and diet. Its proponents aim to conduct their lives in ways that are consistent with sustainability, naturally balanced, and respectful of humanity’s symbiotic relationship with the Earth’s natural ecology. The practice and general philosophy of ecological living closely follows the overall principles of sustainable development. One approach to sustainable living, exemplified by small-scale urban transition towns and rural ecovillages, seeks to create self-reliant communities based on principles of simple living, which maximize self-sufficiency particularly in food production. These principles, on a broader scale, underpin the concept of a bioregional economy. Additionally, practical ecovillage builders like Living Villages maintain that the shift to alternative technologies will only be successful if the resultant built environment is attractive to a local culture and can be maintained and adapted as necessary over multiple generations. The desired result is a state of society where living conditions and resources are used to continue to meet human needs without undermining the integrity and stability of the natural system.
b) 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. Self-esteem was once considered the most important personality variable for understanding human behavior, and while this may overstate its role, there is little doubt that self-esteem has a vital impact on individuals’ internal (thoughts) and external (behaviors) worlds. Self-esteem is relatively stable, and represents an individual’s overall feelings of self-competence. According to the lifelong concept of self-esteem, socioeconomic status has a long and important influence on the development of individual self-esteem. 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.
c) Freedom from Servitude: 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. Human freedom, the ability to choose, is essential for the well-being of individuals. Freedom involves an expanded range of choices for societies both economic and political. It involves freedom from bondage, serfdom, and other exploitative economic, social, and political relationships. 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.

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.
ANSWER
Long and healthy life: The long and healthy life dimension is measured by life expectancy at birth. The life expectancy at birth is a statistical measure that an average individual is expected to live based on certain demographic factors such as the year of birth and current age.
Education: 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.
Standard of living: 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. The standard of living is usually measured by the gross national income (GNI) per capital. The GNI indicates the total domestic and foreign output created by the residents of a certain country.
Birth and death rates: Crude Birth and Death rates (per 1000) can be used as an overall measure of the state of healthcare and education in a country, though these numbers do not give a full picture of a nation’s situation.
Literacy rate: The rate, or percentage, of people who are able to read is a useful indicator of the state of education within a country. High female literacy rates generally correspond with an increase in the knowledge of contraception and a falling birth rate.
GNP per capital: GNP per capita is calculated as GNP divided by population; it is usually expressed in US Dollars. It’s a common indicator used for measuring development, but is imperfect as the calculation doesn’t take into account certain forms of production, such as subsistence production.
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 the \
ANSWER
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, America, Africa and Asia 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.
4. Many folks study Development Economics for many reasons. Discuss.
ANSWER
a) Development economics mainly focuses on the structural changes in every area of the economy. It tries to bring improvements in institutions, technology being used in industries and many other areas. It identifies the economic problems, causes and their consequences in the developing countries and also tell how to overcome these problems. For instance, Pakistan is facing multiple economic problems like poverty, unemployment, unequal distribution of wealth, limited resources, corruption and many other social issues. Therefore, economic development is concerned with these issues and develops strategies that will enable people to break the vicious circle of poverty and backwardness. So that every individual of the developing country will enjoy a quality life.
b) 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.
c) 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.
d) Increased tax revenue: The increased presence of companies in the region translates to increased tax revenue for community projects and local infrastructure. Economic development can also support major job creation initiatives such as the semiconductor research and development campus Neo City, positioning the 500-acre development opportunity for critical funding for domestic semiconductor research and manufacturing through advocacy for the CHIPS and FABS Acts.
Other reasons why many folks study development economics include to;
• Analyze the rate of population increase, affecting the economic development.
• Examine the structural transformation and implement fiscal policies accordingly.
• 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.

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.
ANSWER
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 Ancient 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, signaling 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? What is the Third Estate? Everything. What has it been until now in the political order? Nothing. What does it want to be? Something”
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.

NAME: EZEOHA NNENNA MERCY
2019/249099
Economics Education
300l

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.

“Human development is the expansion of people’s freedom to live long, healthy and creative lives; to advance other goals they have reason to value; and to engage actively in shaping development equitably and sustainably on a shared planet. People are both the beneficiaries and the drivers of human development, as individuals and in groups”
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”.

The Nobel Economist Amartya Sen writing in “Development as Freedom”, sees development as being concerned with improving the freedoms and capabilities of the disadvantaged, thereby enhancing the overall quality of life. Sen pursues the idea that development provides an opportunity to people to free themselves from the suffering caused by

o Early mortality

o Persecution

o Starvation

o Illiteracy

Development should be about
increasing political freedom, cultural and social freedom and not just about raising incomes.

Millennium Development Goals (MDGs)

The Millennium Development Goals represent an ambitious set of development targets established in 2000 and designed to be met as fully as possible by the end of 2015.
Eradicate extreme poverty and hunger
Achieve universal primary education
Promote gender equality and empower women
Reduce child mortality
Improve maternal health

QUESTION 2

Economic development is the process of improving the standard of living and well-being of the people in an economy.

Fundamentally, economic development is about the expansion of people’s capabilities (people development) over time. Therefore, economic development goes beyond increasing the income and output associated with economic growth and also takes into account poverty reduction and income redistribution.

Economic growth is important for economic development: the more goods and services produced, the more likely the standard of living is to improve. Nevertheless, there is no guarantee that an economy experiencing economic growth will also experience economic development.

What are some developmental measures?
There are a few developmental measures. They are:

HDI – Human Development Index.
HPI – Human Poverty Index.
Multidimensional Poverty Index.
GPI – Genuine Progress Indicator.
Just as there are indicators to measure and quantify economic growth, the same is true for economic development.

Economic development indicators are used to measure the well-being of people by considering factors that influence the standard of living in an economy.
Create Measures of Development
What measures can be used to assess the development gap?

There are many different measures used to assess the development gap, each one offering an alternate way of dividing up the world with regards to how developed it is. Here, we shall look at some of the most common indicators of development used in geography.

Gross Domestic Product (GDP)
GDP is s how much money a country makes from its products over the course of a year, usually converted to US Dollars:

the sum of gross value added by all resident producers in the economy + product taxes – any subsidies not included in the value of the products.
Gross National Product (GNP)
GNP is the GDP of a nation together with any money that has been earned by investment abroad minus the income earned by non-nationals within the nation.

GNP per capita
GNP per capita is calculated as GNP divided by population; it is usually expressed in US Dollars.

It’s a common indicator used for measuring development, but is imperfect as the calculation doesn’t take into account certain forms of production, such as subsistence production.

Birth and death rates
Crude Birth and Death rates (per 1000) can be used as an overall measure of the state of healthcare and education in a country, though these numbers do not give a full picture of a nation’s situation.

The Human Development Index (HDI)
The HDI is a composite statistic calculated from the:

Life expectancy index
Education index
Mean years of schooling index
Expected years of schooling index
Income index
Countries are ranked based on their score and split into categories that suggest how well developed they are.

Infant mortality rate
Infant mortality rate is the number of infants dying before reaching one year of age per 1,000 live births in a given year.

Literacy rate
The rate, or percentage, of people who are able to read is a useful indicator of the state of education within a country.

High female literacy rates generally correspond with an increase in the knowledge of contraception and a falling birth rate.

Life expectancy
This simple statistic can be used as an indicator of the:

healthcare quality in a country or province
level of sanitation
provision of care for the elderly
It should not, of course, be used on its own to describe these things.

QUESTIONS 3

Development thought after World War II
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.

Hla Myint
Anne O. Krueger
Growth economics and development economics
Development economics may be contrasted with another branch of study, called growth economics, which is concerned with the study of the long-run, or steady-state, equilibrium growth paths of the economically developed countries, which have long overcome the problem of initiating development.

Growth theory assumes the existence of a fully developed modern capitalist economy with a sufficient supply of entrepreneurs responding to a well-articulated system of economic incentives to drive the growth mechanism. Typically, it concentrates on macroeconomic relations, particularly the ratio of savings to total output and the aggregate capital–output ratio (that is, the number of units of additional capital required to produce an additional unit of output). Mathematically, this can be expressed (the Harrod–Domar growth equation) as follows: the growth in total output (g) will be equal to the savings ratio (s) divided by the capital–output ratio (k); i.e., g =
s
/
k
. Thus, suppose that 12 percent of total output is saved annually and that three units of capital are required to produce an additional unit of output: then the rate of growth in output is
12
/
3
% = 4% per annum. This result is obtained from the basic assumption that whatever is saved will be automatically invested and converted into an increase in output on the basis of a given capital–output ratio. Since a given proportion of this increase in output will be saved and invested on the same basis, a continuous process of growth is maintained.

Growth theory, particularly the Harrod–Domar growth equation, has been frequently applied or misapplied to the economic planning of a developing country. The planner starts from a desired target rate of growth of perhaps 4 percent. Assuming a fixed overall capital–output ratio of, say, 3, it is then asserted that the developing country will be able to achieve this target rate of growth if it can increase its savings to 3 × 4 percent = 12 percent of its total output. The weakness of this type of exercise arises from the assumption of a fixed overall capital–output ratio, which assumes away all the vital problems affecting the developing country’s capacity to absorb capital and invest its saving in a productive manner. These problems include the central problem of the efficient allocation of available savings among alternative investment opportunities and the associated organizational and institutional problems of encouraging the growth of a sufficient supply of entrepreneurs; the provision of appropriate economic incentives through a market system that correctly reflects the relative scarcities of products and factors of production; and the building up of an organizational framework that can effectively implement investment decisions in both the private and the public sectors. Such problems, which generally affect the developing country’s absorptive capacity for capital and a number of other inputs, constitute the core of development economics. Development economics is needed precisely because the assumptions of growth economics, based as they are on the existence of a fully developed and well-functioning modern capitalist economy, do not apply.

The developing and underdeveloped countries are a very mixed collection of countries. They differ widely in area, population density, and natural resources. They are also at different stages in the development of market and financial institutions and of an effective administrative framework. These differences are sufficient to warn against wide-sweeping generalizations about the causes of underdevelopment and all-embracing theoretical models of economic development. But when development economics first came into prominence in the 1950s, there were powerful intellectual and political forces propelling the subject toward such general theoretical models of development and underdevelopment. First, many writers who popularized the subject were frankly motivated by a desire to persuade the developed countries to give more economic aid to the underdeveloped countries, on grounds ranging from humanitarian considerations to considerations of cold-war strategy. Second, there was the reaction of the newly independent underdeveloped countries against their past “colonial economic pattern,” which they identified with free trade and primary production for the export market. These countries were eager to accept general theories of economic development that provided a rationalization for their deep-seated desire for rapid industrialization. Third, there was a parallel reaction, at the academic level, against older economic theory, with its emphasis on the efficient allocation of scarce resources and a striving after new and “dynamic” approaches to economic development.

All of these forces combined to produce a crop of theoretical approaches that soon developed into a fairly fixed orthodoxy with its characteristic emphasis on “crash” programs of investment in both material and human capital, on domestic industrialization, and on government economic planning as the standard ingredients of development policy. These new theories have continued to have a considerable influence on the conventional wisdom in development economics, although in retrospect most of them have turned out to be partial theories. A broad survey of these theories, under three main heads, is given below. It is particularly relevant to the debate over whether the underdeveloped countries should seek economic development through domestic industrialization or through international trade. The limitations of these new theories—and how they led to a gradual revival of a more pragmatic approach todevelopment problems, which falls back increasingly on the older economic theory of efficient allocation of resources—are subsequently traced

QUESTION 4

What is Development Economics?
Development economics is a branch of economics that focuses on the economics of country development. It focuses on how people in a society can escape poverty and enjoy a better standard of living.

Summary
Development economics focuses on how people in a society can escape poverty and enjoy a better standard of living.
Development economic studies can be divided into economic and social aspects.
Development economic research can help policymakers to make better decisions and formulate the right plans.
Aspects of Development Economics
Country development and development economics both involve a wide range of studies. Primarily, development economics can be divided into two categories – economic and social.

1. Economic
Economic growth

Development economics uses economic growth as an indicator of country development efficiency. Economic growth shows how well a country is running and potentially growing. It is the most obvious and quantitative indicator for the evaluation of country development.

Structural change

Structural change is the way a country’s economy is organized and how a market functions. It’s usually in between free-market operation and state control. Structural change is the most fundamental aspect of country development. Hence, development economics also study the structural changes in a country.

Technological changes

Technology can significantly change economic behavior, such as production and consumption. When a new technology appears, development economics will analyze its effect on country development.

2. Social
Social aspects of development economics analyze the economic consequences of social-related development.

Institutions

Institutions are essential for a country’s economy. Well-established institutions facilitate economic and country development.

Education

Educated human capital leads to better economic production and a higher standard of living. Many countries focus on investing in their human capital through education. Therefore, development economics considers the economic results of such education policies. It is primarily about finding the current human capital level, developing, and providing direction for education policy.

Public health

Better living standards include improvement in public health. Countries see public health as part of their development. Since public health advancement involves a substantial cost, development economics is crucial.

Working conditions

Working conditions are closely associated with the advanced level of an economy. Working conditions include salaries and employee benefits, which represent the purchasing power in an economy. Development economics can assist in evaluating the impact of working conditions on the future economy.

Development Economics Research
Like other types of economic research, development economics uses the same scale of studies and applies classical economic indicators. Various scales and a few examples of economic indicators are listed below:

Development economic studies can be both domestic or international. International development economics focuses particularly on comparative research between countries.

What Can Development Economics Research Do?
Evaluate current development practices
Provide direction for country development
Define problems in future country development
Indicate the economic aspects of country development

Ogbonna Chijioke Michael
2019/244473
Economics Department

1. According to Prof.  Michael Todaro, the three objectives of Development include,Producing more life sustaining necessities such as food shelter & 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.
1.) Producing more life sustaining necessities such as food shelter and health care and broadening their distribution: This 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. It is a fact that no country can be described as fully developed if it cannot provide the people with basic needs e.g., shelter or house, food, clothing and the minimum education standard. For instance, a nation where the availability of the basic needs of life is not met, in such nation, the standard of living will be very low thus leading to poverty and suffering.
2.) Raising standards of living and individual self esteem: Todaro pointed that in order to achieve development, the standard of living should be increased, this means that there should be increment in 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.) Expanding economic and social choice and reducing fear: To expand the range of economic and social choices available to individuals and nations means 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. Todaro pointed a nation is developed if individuals has the power to make choices without been threatened. Therefore, it’s imperative that true development should tend to accord expansion of economic ad social choice which will lead to freedom and liberty of citizens.
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.
A.) The Human Development Index (HDI) is a measurement system used by the United Nations to evaluate the level of individual human development in each country. It measures a country’s average achievement in three basic dimensions of human development: that’s is, life expectancy, educational attainment and adjusted real income
1.) Life Expectancy: This means the estimate of the average number of additional years that a person of a given age can expect to live. The most common measure of life expectancy is life expectancy at birth. Life expectancy is a hypothetical measure. It assumes that the age-specific death rates for the year in question will apply throughout the lifetime of individuals born in that year. The estimate, in effect, projects the age-specific mortality (death) rates for a given period over the entire lifetime of the population born (or alive) during that time. The measure differs considerably by sex, age, race, and geographic location. Therefore, life expectancy is commonly given for specific categories, rather than for the population in general. For example, the life expectancy for white females in the United States who were born in 2003 is 80.4 years.
Life expectancy reflects local conditions. In less-developed countries, life expectancy at birth is relatively low, compared with more-developed countries. In some less-developed countries, life expectancy at birth may be lower than life expectancy at age 1, because of high infant mortality rates (commonly due to infectious disease or lack of access to a clean water supply).
Life expectancy is calculated by constructing a life table. A life table incorporates data on age-specific death rates for the population in question, which requires enumeration data for the number of people, and the number of deaths at each age for that population. Those numbers typically are derived from national census and vital statistics data, and from them the average life expectancy for each of the age groups within the population can be calculated. The potential accuracy of estimated life expectancy depends on the completeness of the census and death data available for the population in question. The completeness of that data varies from country to country. In the United States, for example, official complete life tables based on registered deaths have been prepared since 1900, in connection with the decennial census. Since 1945, annual abridged U.S. life tables have been published based on the annual death registration and estimates of the population. Complete life tables show life expectancy for every year of age, and abridged tables show life expectancy for 5- or 10-year age groups, rather than for single-year groups. National life tables for many countries are published by the United Nations in its Demographic Yearbook. Another life expectancy calculation is healthy life expectancy (or disability-free life expectancy), which is the average number of years a person is expected to live in good health, or without disability, given current age-specific mortality rates and disease and disability prevalence rates. Calculation of those figures requires reliable health statistics as well as mortality and census data.
2. ) Education: 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.) Adjusted real income: 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. Gross national income (GNI), the sum of a country’s gross domestic product (GDP) plus net income (positive or negative) from abroad. It represents the value produced by a country’s economy in a given year, regardless of whether the source of the value created is domestic production or receipts from overseas.
B.) The Human Poverty Index (HPI) 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. The HPI was introduced in the United Nations Development Programme Human Development Report 1997 and concentrates on deprivations in basic dimensions of life.
The Human Poverty Index (HPI) was introduced in 1997, and is a composite index which assesses three elements of deprivation in a country – longevity, knowledge and a decent standard of living. There are two indices; the HPI – 1, which measures poverty in developing countries, and the HPI-2, which measures poverty in OCED developed economies.
HPI-1 (for developing countries)
The HPI for developing countries has three components:
The first element is longevity, which is defined as the probability of not surviving to the age of 40.
The second element is knowledge, which is assessed by looking at the adult literacy rate.
The third element is to have a ‘decent’ standard of living. Failure to achieve this is identified by the percentage of the population not using an improved water source and the percentage of children under-weight for their age.
HPI-2 (for developed – OECD countries)
The indicators of deprivation are adjusted for advanced economies in the following ways:
Longevity, which for developed countries is considered as the probability at birth of not surviving to the age of 60.
Knowledge is assessed in terms of the percentage of adults lacking functional literacy skills, and;
A decent standard of living is measured by the percentage of the population living below the poverty line, which is defined as those below 50% of median household disposable income, and social exclusion, which is indicated by the long-term unemployment rate.
C.) Multidimensional Poverty Index (MPI): This is an an index that captures the percentage of households in a country deprived along three dimensions of well-being – monetary poverty, education, and basic infrastructure services – to provide a more complete picture of poverty.
A means to capture the complexity of poverty that considers multiple dimensions of well-being beyond just monetary poverty. MPI shows who is poor and how they are poor and can be used to create a comprehensive picture of people living in poverty. It permits comparisons both across countries and world regions, and within countries by ethnic group, urban/rural area, subnational region, and age group, as well as other key household and community characteristics.
D.) Gender Development Index (GDI): This is a distributive sensitive metric that takes into account the impact of existing gender gaps on human development in the three components of the HDI.” The GDI is distribution sensitive, which means it considers not just the averaged or overall level of well-being and prosperity in a given country, but also how this wealth and well-being is distributed among different social groups.The Gender Development Index (GDI) is a tool that measures the level of gender development in a country. It looks at factors such as health, education, and economic status to determine how well women are doing compared to men. This index is important because it can help policymakers identify areas where more work needs to be done in order to improve the lives of women and girls. Countries that rank high on the GDI tend to have less gender inequality, while countries that rank low often have high levels of gender inequality.The GDI index is used to investigate gender differences in achievement.
The Gender-Related Development Index is commonly referred to as a “gender-sensitive HDI extension.” It addresses disparities in life expectancy, education, and wealth between men and women. It employs an “inequality aversion” penalty, which penalises gender inequalities in any of the Human Development Index (HDI) categories, such as life expectancy, adult literacy, school enrollment, and logarithmic transformations of per-capita GDP. The GDI predicts that women will live five years longer than males in terms of life expectancy. In addition, the GDI takes into account income inequalities in terms of actual earned income. The GDI can’t be utilised without the HDI score, hence it can’t be used as a standalone indication of gender disparities. Only the difference between the HDI and the GDI can be examined appropriately; the GDI is not an independent measure of gender gaps on its own. The GDI accounts for differences between men and women in three basic dimensions of human development—health, knowledge, and living standards—using the same component indicators as the HDI to quantify gender gaps in human development achievements. The GDI is the ratio of female and male HDIs calculated independently using the same methods as the HDI. It’s a direct measure of the gender divide, with the female HDI expressed as a percentage of the male HDI. For 167 nations, the GDI is calculated. Based on the absolute divergence from gender parity in HDI values, countries are divided into five groups. This means that both gender disparities favouring males and those favouring females are taken into account when categorising.
The GDI indicates how much women lag behind their male counterparts in each dimension of human development and how far they need to catch up. It is helpful in determining the true gender gap in human development accomplishments and in developing policy measures to close the gap.

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 the
By the end of World War II, much of Europe and Asia, and Africa, lay in ruins. Combat and bombing had flattened cities and towns, destroyed bridges and railroads, and scorched the countryside. The war had also taken a staggering toll in both military and civilian lives. Shortages of food, fuel, and all kinds of consumer products persisted and in many cases worsened after peace was declared. War-ravaged Europe and Japan could not produce enough goods for their own people, much less for export. What was needed to pull Europe and Asia back into the international economy? The answer was money.
In addition to the toll in human lives and suffering, countries spent more money on World War II than in all previous wars put together. By 1945, exhausted countries faced severe economic problems that frustrated reconstruction efforts: Inflation, Debt (mostly owed to the United States), Trade deficits, Balance of payments deficits and Depleted gold and dollar supplies. When all these happened as a result of the effect of the world war II , economist s became concerned about the state of the country then because the standard of living of most people were low and people were also living in abject poverty, so they came together to establish a branch of economics called Development Economics which focuses on the standard of living of people in a country and to lift the citizens out of Poverty. Therefore, Development economics is a branch of economics that focuses on improving fiscal, economic, and social conditions in developing countries. Development economics considers factors such as health, education, working conditions, domestic and international policies, and market conditions with a focus on improving conditions in the world’s poorest countries. Development Economics is also the study on how emerging nation becomes financially stable.
So, the emergence of Development economics encourages the economic and social growth of low-income countries and attempts to improve the conditions and well-being 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 economics into the most prosperous nations of the world.
Ever since the evolution of development economics, Europe, Asia, and Africa countries began to recover from the effect of world war II.
4.) Many folks study Development Economics for many reasons. Discuss
1. Development economics helps us with 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.
2. 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.
3. Development economics seeks to understand and shape macro and microeconomic policies in order to lift poor countries out of poverty.
4. Development economics focuses on how people in a society can escape poverty and enjoy a better standard of living.
5. Development economics provides policymakers with an opportunity to analyze economic challenges faced by developing countries. This analysis primarily considers economic indicators. Also, Development economic research can help policymakers to make better decisions and formulate the right plans.
6. Development economics helps to examine the structural transformation and implement fiscal policies accordingly: The structural transformation of a less developed economy requires applying theories and practices in its best interests. It may, for instance, aim to promote technological innovation, improve fiscal and social conditions, re-structure market incentives, etc. As a result, the standard of life will improve, and poverty will alleviate in society.
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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.
In the French weekly, l’Observateur of August 14, 1952, Alfred Sauvy first coined the term ‘Third World.’ Almost 70 years later, the former president of the World Bank Robert B. Zoellick declared the demise of the “outdated categorizations of First and Third Worlds,” and confined all categorizations dividing the world into parts to the dustbin of history. According to Zoellick, “the developing world is becoming a driver of the global economy” and “North and South, East and West, are now points on a compass, not economic destinies. Besides Zoellick’s reasoning that the objective political-economic conditions for multiple ‘worlds’ are withering, self-declared progressives keep reminding us that the concept ‘Third World’ is “out of date, insulting and confusing,” and that it “reinforces the idea of superiority and hierarchy,”. “The fact that this term is outdated may seem blatantly obvious to me, but that’s probably only because I studied International Relations and Politics at University and have worked in International Development for almost a decade,” the author claims.
But just like the development industry is drenched with neoliberal ‘NGOism’, modern theories of International Relations remain heavily dominated by Western thought. This is all in contrast with a radical and non-Eurocentric reading of the actual history of the Third World. Third World is one of anti-colonial, anti-imperialist struggles for peace, development and liberation of the majority of the world’s peoples.
“Three Worlds, One Planet”
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?:
What is the Third Estate? Everything.
What has it been until now in the political order? Nothing.
What does it want to be? Something.
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.