Measuring economic development
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Measuring economic development

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Measuring Economic Development

Measuring Economic Development

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Measuring economic development Measuring economic development Presentation Transcript

  • Measuring Economic Development Chapter 1 Economic Elective
  • GNP Gross National Product The measure of a country’s wealth – the value of goods and services produced in a country plus those produced by native companies located abroad. GDP Gross Domestic Product The value of all goods and services produced (by locally owned and foreign owned businesses) in a country. HDI Human Development Index Measure of people’s life expectancy, education and income. TERMS YOU NEED TO UNDERSTAND
  • LDC Least Developed Country Formerly known as a Third World country – a country is that is poorer than other countries, e.g. Ethiopia. NIC Newly Industrialised Country A country experiencing rapid economic development, e.g. Brazil. HIPC Highly Indebted Poor Country Countries with the highest levels of poverty in the world, e.g. Ethiopia. TERMS YOU NEED TO UNDERSTAND
  • World Patterns in Economic Development Type of Region Examples 1 Developed Region Europe, North America, Japan, Australia. 2 Quickly Developing Countries South East Asian countries: China, India, South and Central America: Brazil, Mexico North African countries: Egypt 3 Least Developed Countries Many African countries: Zambia, Ethiopia Some countries in Asia: Bangladesh
  • Developed Regions • High levels of industrial activity • Well developed healthcare systems • Educated population • Equality between men and women • Child mortality is low • Well developed infrastructure (hospitals, schools, etc).
  • Quickly Developing Countries • Industrialised rapidly over the last 20 years • Most jobs are in manufacturing and services • Wages are low – this attracts MNCs looking for cheap labour • Healthcare and literacy levels are improving
  • Least Developed Countries • Poorest in the world. • Life Expectancy low. • Millions live in poverty. • Disease is common. • Government is absent or corrupt. • Many girls receive no education. • Most jobs are low income primary industry jobs.
  • Least Developed Countries
  • Measures of Economic Development 1 Gross National Product 2 Human Development Index
  • Indicator Advantages Disadvantages GNP  Easy to see ranked position of a country in a list.  Gives a quick view of level of development.  Easy to calculate from government statistics.  Average figure – hides the inequality of wealth.  Presence of MNCs can give a high GNP covering up poor performance by local companies.  Doesn’t account for black market. HDI  Includes several social and economic conditions in a country.  A more complete view of development.  Inequality can still exist in a country with a high score.  Cannot easily measure changes in long term indicators such as life expectancy.
  • Homework All students: Revise and understand new terms page 8 Higher Level 1. 2011 Q 9A (HDI) 2. 2010 Q 8A (HDI) 3. 2008 Q 8A (HDI) 4. 2007 Q 7A (GDP) 5. 2006 Q 7A (GDP) Ordinary Level • Page 18 Questions 11 & 12.