Economic Development

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Laura Craig
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1 Economic Development

2 ECONOMIC DEVELOPMENT How advanced an economy is More Developed = more advanced (United States) Less Developed = less advanced (Haiti) Newly Industrialized = moving from less to more developed (Mexico) Standard of Living: ease of how people are able to satisfy their needs and wants

3 INDICATORS OF DEVELOPMENT Human Development Index (HDI): tool for ranking countries based on their level of: economic development gender & social equality quality of life enjoyed by citizens Ranked as: very high (Norway #1), high (Mexico #71), medium (El Salvador #117), low (Haiti #168)

4 HDI Human Development Index

5 DEMOGRAPHIC INDICATORS Life Expectancy: average number of years an individual in a country is expected to live. Affected by poverty, diet, doctors, diseases Birth & Death (Mortality) Rates: how many people are born/die every 1000 people/year. Infant Mortality Rate: number of infants who die/1000 births. Closely related to (lack of) medical care. Causes: dehydration, malnutrition, malaria

7 APPLYING WHAT YOU HAVE LEARNED More Developed [High or- Low] Indicator Birth Rate Less Developed [High or- Low] Mortality Rate Infant Mortality Rate Life Expectancy

8 ECONOMIC INDICATORS Gross Domestic Product (GDP): total value of goods and services produced by a nation in one year GDP per capita: GDP Population of country Other indicators: (average number) cars, cellphones, televisions, computers per person

9 Lack of investment, less productive workers APPLYING WHAT YOU HAVE LEARNED More Developed [High/Low] More Developed [ ] [Indicator] GDP per capita # cars, doctors, cellphones Standard of Living [Indicator] Use machinery, computers, high-tech tools Subsistence Agriculture Less Developed [High/Low] Less Developed [ ]

10 SOCIAL INDICATORS More developed = wealthier = provide more social services People are healthier, better educated, more productive Literacy Rate: percentage of people who can read/write Other Indicators: attending college, professionals (doctors), housing, water supply, sanitation

11 APPLYING WHAT YOU HAVE LEARNED More Developed [High/Low] [Indicator] Less Developed [High/Low] Literacy Rate # Attending College # of Doctors & Hospitals

12 POLITICAL INDICATORS Freedoms people enjoy Level of democracy and voting rights Level of human rights Level of government oppression Tolerance for different points of view Most advanced countries have: free-enterprise economies & democratic government

13 Human Development Index COUNTRY USA (N. AMERICA) FRANCE (EUROPE) ZIMBABWE (AFRICA) BANGLADESH (SOUTH ASIA) SYRIA (MID-EAST) POPULATION 309 million 65 million 12 million 162 million 21 million GDP GDP PER CAPITA INFANT MORTALITY LIFE EXPECTANCY LITERACY RATE $ billion $2.675 million $4.397 million $ million $ million $37,500 $27,460 $2,180 $1,870 $3, per 1,000 births 78.0 years 4.2 per 1,000 births 79.9 years 51.1 per 1,000 births 39.5 years 59.1 per 1,000 births 62.8 years 27.7 per 1,000 births 70.6 years 99% 99% 91% 53% 83%

14 Human Development Index Country Your Classification HDI Classification Less developed, Middle developed, or Highly developed USA France Zimbabwe Bangladesh Syria

livestock Fishing Logging Mining 2% of US workers

15 PRIMARY ACTIVITIES Involve production of foods and extraction of resources Growing crops Raising livestock Fishing Logging Mining 2% of US workers are in the primary sector Found most in less developed countries

textiles (clothes) Wood assembled into furniture Steel shaped into cars 13% of

16 SECONDARY ACTIVITIES Manufacturing & production of goods Add value to raw materials by processing them or changing their form Cotton manufactured into textiles (clothes) Wood assembled into furniture Steel shaped into cars 13% of US workers are in the secondary sector Found most in newly industrialized countries

Retailer (Sales) Truck Driver 80% of US workers are

17 TERTIARY ACTIVITIES Services performed by people or businesses Teachers Doctors & Nurses Accountant Retailer (Sales) Truck Driver 80% of US workers are in the tertiary sector Found most in more developed countries

of a company Scientist This is a sub-section of

18 QUATERNARY ACTIVITIES Involve information processing and management Computer Programmer Engineer Manager of a company Scientist This is a sub-section of tertiary (services) Found most in more developed countries

19 Primary Activities Define: Ex. Job (not on notes): Secondary Activities Define: Ex. Job (not on notes): Tertiary Activities Define: Ex. Job (not on notes): Quaternary Activities Define: Ex. Job (not on notes):

20 INVESTIGATE ON YOUR OWN Country: Google > CIA WORLD FACTBOOK > select drop box Economic Activities: (GDP composition per sector) 1. (Agriculture) %: Top: 2. (Industry) %: Top: 3. (Services) %: Top: *N/A* * Look at PEOPLE & SOCIETY for other indicators (literacy, life expectancy, birth/death rates, etc.) Level of Development: Very High (1-49), High (50-102), Medium ( ), Low ( )

21 Human Development Index Country Your Classification HDI Classification Less developed, Middle developed, or Highly developed USA France Zimbabwe Bangladesh Syria

INDICATORS OF DEVELOPMENT

INDICATORS OF DEVELOPMENT INDICATORS OF DEVELOPMENT As was discovered in the previous section on Development Issues, there are two distinct groups of countries, known as MEDC s and LEDC s. In order to