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Module 2 Comparative Econimoc Development

1. The document provides an overview of comparative economic development and introduces key concepts for understanding differences between developed and developing countries. 2. It defines key indicators used to measure and compare development levels, such as GNI, GDP, health metrics, education levels, and the Human Development Index. 3. Common characteristics of developing countries are discussed, including lower living standards and productivity, higher poverty and inequality, rapid urbanization, and underdeveloped markets. However, diversity exists among developing countries.

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72 views3 pages

Module 2 Comparative Econimoc Development

1. The document provides an overview of comparative economic development and introduces key concepts for understanding differences between developed and developing countries. 2. It defines key indicators used to measure and compare development levels, such as GNI, GDP, health metrics, education levels, and the Human Development Index. 3. Common characteristics of developing countries are discussed, including lower living standards and productivity, higher poverty and inequality, rapid urbanization, and underdeveloped markets. However, diversity exists among developing countries.

Uploaded by

karen perreras
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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UNIVERSITY OF MAKATI

J. P. Rizal Ext., West Rembo, Makati City


COLLEGE OF BUSINESS AND FINANCIAL SCIENCE
Department of Human Resource Development Management
Course Title Title
Module No. 2
COMPARATIVE ECONOMIC DEVELOPMENT
ECONOMIC
DEVELOPMENT Module Leader DR. ERICSON Z. MATIAS

Module Contributors

Timeframe: Students are expected to finish all the activities, assignments, and
assessments of this module in one week.

How to Complete Students are expected to:


this module? 1. Read the Topic Lesson
2. View video lecture
a. Comparative Economic Development: Developed vs.
Developing
https://www.youtube.com/watch?v=val9YCQHX3A
b. Classifying Developed and Developing Countries
https://www.youtube.com/watch?v=PRRGRtcLGdk
c. What is Developing Country?
https://www.youtube.com/watch?v=6PfY9_LtTE8
3. Participate in this week’s discussion
4. Answer the Performance Task No.
a. Internet Research
b. Overview in Comparative Economic Development
c. Reflection Paper

Teaching 1. Read topic notes / PPT presentation.


Strategies 2. Discussion/ Recitation via Google Meet.

Introduction/Overview.

The developing world has made substantial economic development progress in recent years.
But the most striking feature of the global economy remains its extreme contrasts.
INTRODUCTION

In this chapter, we introduce the study of comparative economic development. We begin by


defining the developing world and describing how development is measured so as to allow for
quantitative comparisons across countries. Average income is one, but only one, of the factors
defining a country’s level of economic development. This is to be expected, given the
discussion of the meaning of development in Chapter 1.

We then consider 10 important features that developing countries tend to have in common, on
average, in comparison with the developed world. In each case, we also discover that behind
these averages are very substantial differences in all of these dimensions among developing
countries that are
important to appreciate and take into account in development policy.

By the end of this module, student will be able to:


OUTCOMES
LEARNING

2.1 Defining the developing world


2.2 Basic indicators of development: Real Income, Health, and Education
2.3 Holistic measures of living levels and capabilities
2.4 Characteristics of the developing world: Diversity within commonality
2.5 How low-income countries today differ from developed countries in their earlier stages
I. COMPARATIVE ECONOMIC DEVELOPMENT AND ITS RELEVANCE

A. Watch Video, Making Sense of Economic Development

Credit to: Market Business

An Overview to Economic Comparative Development


https://www.youtube.com/watch?v=val9YCQHX3A

Supplementary Lecture Common Characteristics of developing countries

• Lower levels of living and productivity


• Lower levels of human capital
• Higher levels of inequality and absolute poverty
• Higher population growth rates
• Greater social fractionalization
• Larger rural population- rapid migration to cities
• Lower levels of industrialization and manufactured exports
• Adverse geography
• Underdeveloped financial and other markets
• Colonial legacies- poor institutions etc.

Measuring Development for Quantitative Comparison across Countries

• Gross National Income (GNI)


• Gross Domestic Product (GDP)
• PPP method instead of exchange rates as conversion factors

Some Basic Indicators of Development

• Health
• Life Expectancy
• Education
• HDI as a holistic measure of living levels
– HDI also varies for groups within countries
– HDI also varies by region in a country
– HDI also reflects rural-urban differences
POST-EVALUATION

1. For all of their diversity, many less developed countries are linked by a range of common
problems. What are these problems? Which do you think are the most important? Why?

2. Explain the distinction between low levels of living and low per capita incomes. Can low
levels of living exist simultaneously with high levels of per capita income? Explain and give
some examples.

3. Can you think of other common (not necessarily universal but widespread) characteristics of
less developed countries not mentioned in the text? See if you can list four or five and briefly
justify them.
ASSIGNMENT

4. Do you think that there is a strong relationship among health, labor productivity, and income
levels? Explain your answer.

5. What is meant by the statement that many developing nations are subject to “dominance,
dependence, and vulnerability” in their relations with rich nations? Can you give some
examples?

6. Explain the many ways in which developing countries may differ in their economic, social,
and political structures.

7. What are some additional strengths and weaknesses of the Human Development Index as
a
comparative measure of human welfare? If you were designing the HDI, what might you do
differently, and why?

IDENTIFICATION

__________1. is a more subjective and intangible term than standard of living. As such, it can
often be hard to quantify
__________2. is a comparison tool used when describing two different geographic areas. 
__________3. is only a rough guide to the goods and services you can actually buy.
__________4. is the average income per person in the economy.
ASSESSMENT

__________5. It is widely believed that the countries in which most of national output or
national income is derived from the primary sector.
__________6.  is an international financial institution that provides loans and grants to the
governments of poorer countries for the purpose of pursuing capital projects.
__________7. the basic physical and organizational structures and facilities (e.g. buildings,
roads, power supplies) needed for the operation of a society or enterprise.
__________8.  is a trade policy that does not restrict imports or exports. It can also be
understood as the free market idea applied to international trade.
__________9. is the hypothesis that poorer economies' per capita incomes will tend to grow
at faster rates than richer economies.
__________10. refers to any economic market that does not meet the rigorous standards of a
hypothetical perfectly or purely competitive market, as established by Marshellian partial
equilibrium models

Economic Development 8th edition by Michael P. Tadaro and Stephen C. Smith


REFERENCES

Other References:

1. https://revisesociology.com/category/global-development/indicators-of-development/
2. https://www.economicsdiscussion.net/economic-development/4-key-indicators-of-economic-
development/26303
3. https://www.investopedia.com/articles/financial-theory/08/standard-of-living-quality-of-
life.asp

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