{"id":946,"date":"2012-01-22T03:59:06","date_gmt":"2012-01-22T09:59:06","guid":{"rendered":"http:\/\/opengecko.com\/?p=946"},"modified":"2012-01-22T20:45:09","modified_gmt":"2012-01-23T02:45:09","slug":"introduction-to-development","status":"publish","type":"post","link":"https:\/\/opengecko.com\/geckoview\/economics\/introduction-to-development\/","title":{"rendered":"Introduction to Development"},"content":{"rendered":"<p><span style=\"font-size: small;\">This post offers some resources to help learn about the key syllabus pints under section 3.2 of the 2005 IB Economics syllabus.<\/span><\/p>\n<h4>Definitions of economic growth and economic development<\/h4>\n<p><span style=\"font-size: small;\">and<\/span><\/p>\n<h4>Differences in the definitions of the two concepts<\/h4>\n<p><iframe loading=\"lazy\" src=\"http:\/\/www.youtube.com\/embed\/kj7o_MMETWM?rel=0\" frameborder=\"0\" width=\"560\" height=\"315\"><\/iframe><\/p>\n<p><em><span style=\"font-size: small;\">This video excellent by Flame India includes points on limitations of using GDP to compare welfare (below) and alternative measures (HDI). Take note of the definitions by Michael Todaro and also the contributions of Amrtya Sen and Mahbub ul Haq. Note how Economic Growth contributes towards Progress in Human Development.<\/span><\/em><\/p>\n<h4>Gross Domestic Product (GDP) versus Gross National Product (GNP) as measure of growth<\/h4>\n<p>To recap the meaning of GDP, you might use this opengecko post:<\/p>\n<p><a href=\"http:\/\/opengecko.com\/ib-economics\/output-definitions-of-gdp\/\" target=\"_blank\">Output\u2013 Definitions of GDP<\/a><\/p>\n<p>To see some examples of actual GDP figures, you could use this post:<\/p>\n<p><a href=\"http:\/\/opengecko.com\/economics\/comparing-gdp-and-other-indicators-across-countries\/\" target=\"_blank\">Comparing GDP and Other Indicators Across Countries<\/a><\/p>\n<p><span style=\"font-size: small;\">PAJ Holden gives a detailed explanation of the difference which lasts 8 minutes:<\/span><\/p>\n<p><a href=\"http:\/\/www.youtube.com\/watch?v=QiNZdGAZzeA\" target=\"_blank\"><span style=\"font-size: small;\">gdp and gnp<\/span><\/a><\/p>\n<p><span style=\"font-size: small;\">This video summarises the differences much more quickly:<\/span><\/p>\n<p><iframe loading=\"lazy\" src=\"http:\/\/www.youtube.com\/embed\/mZ-4eKreH3I?rel=0\" frameborder=\"0\" width=\"480\" height=\"360\"><\/iframe><\/p>\n<h4>Limitations of using GDP as a measure to compare welfare between countries<\/h4>\n<p><span style=\"font-size: small;\">\u00a0<\/span><iframe loading=\"lazy\" src=\"http:\/\/www.youtube.com\/embed\/Ep4DWx1--sY\" frameborder=\"0\" width=\"480\" height=\"360\"><\/iframe><\/p>\n<p><iframe loading=\"lazy\" src=\"http:\/\/www.youtube.com\/embed\/QUaJMNtW6GA?rel=0\" frameborder=\"0\" width=\"480\" height=\"360\"><\/iframe><\/p>\n<p><em><span style=\"font-size: small;\">Notice \u2013 Joseph Stiglitz also points out the difference between GDP and GNP (above) as well.<\/span><\/em><\/p>\n<h4>Allowance for differences in purchasing power when comparing welfare between countries<\/h4>\n<h4>Alternative measurements of development<\/h4>\n<p><a href=\"http:\/\/hdr.undp.org\/en\/statistics\/indices\/\" target=\"_blank\"><span style=\"font-size: small;\">Composite Indices \u2013 HDI and beyond by hdr.undp.org<\/span><\/a><\/p>\n<p><iframe loading=\"lazy\" src=\"http:\/\/www.youtube.com\/embed\/EuczJTVGk6c?rel=0\" frameborder=\"0\" width=\"480\" height=\"360\"><\/iframe><\/p>\n<p><iframe loading=\"lazy\" src=\"http:\/\/www.youtube.com\/embed\/7Zqdqa4YNvI?rel=0\" frameborder=\"0\" width=\"560\" height=\"315\"><\/iframe><\/p>\n<p><span style=\"font-size: small;\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.euinfrastructure.com\/media\/media-news\/infographics\/091006-Infra-HumanIndicators.png\" alt=\"\" width=\"450\" height=\"543\" \/><\/span><\/p>\n<p><span style=\"font-size: small;\">See the original (via <\/span><a href=\"http:\/\/www.euinfrastructure.com\" target=\"_blank\"><span style=\"font-size: small;\">EU Infrastructure<\/span><\/a><span style=\"font-size: small;\">) <\/span><a href=\"http:\/\/www.euinfrastructure.com\/news\/human-development-indicators\/\" target=\"_blank\"><span style=\"font-size: small;\">here<\/span><\/a><span style=\"font-size: small;\">.<\/span><\/p>\n<h4>Problems of measuring development<\/h4>\n<p><span style=\"font-size: small;\">For this section, you may conduct your own online research and\/or consult your text book.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This post offers some resources to help learn about the key syllabus pints under section 3.2 of the 2005 IB Economics syllabus. Definitions of economic growth and economic development and Differences in the definitions of the two concepts This video excellent by Flame India includes points on limitations of using GDP to compare welfare (below)&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,10],"tags":[191,215,151,102],"class_list":["post-946","post","type-post","status-publish","format-standard","hentry","category-economics","category-ib-economics","tag-development-2","tag-development-economics","tag-gdp","tag-growth"],"_links":{"self":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/posts\/946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/comments?post=946"}],"version-history":[{"count":4,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/posts\/946\/revisions"}],"predecessor-version":[{"id":950,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/posts\/946\/revisions\/950"}],"wp:attachment":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/media?parent=946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/categories?post=946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/tags?post=946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}