ECO 346 Exam 1 Review Questions

ECO 346 Exam 1 Review Questions - From pages 9-11 in the...

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From pages 9-11 in the text (Why Study Development Economics? Some Critical Questions) Think of this group as some of the basic things we talked about 1. What is the real meaning of development, and how can different economic concepts and theories contribute to a better understanding of the development process? a. Increase availability of life sustaining goods b. Raise levels of living c. Expand range of economic and social choices 2. What are the sources of national and international economics growth? Who benefits from such growth and why? Why do some countries make rapid progress toward development while many others remain poor? 3. Which are the most influential theories of development and are they compatible? 4. What can be learned from the historical record of economic progress in the now developed world? Are the initial conditions similar of different for contemporary LDCs from what the developed countries faced on the eve of their industrialization? 5. How can improvement in the role and status of women have an especially beneficial impact on development prospects? a. To make the biggest impact on development, societies must empower and invest in women CHAPTER ONE 6. Development is said to require not only growth of per capita income, but also requires objectives such as poverty reduction and growth of self-esteem. However, most high income countries have also achieved most of these additional objectives. Why then is there so much stress in the development field on goals beyond that of raising income per capita, or in other words, why might these other objectives not be achieved automatically with higher incomes? a. Social Systems i. Interdependent relationships between economic and non-economic factors b. Success or failure of development policy i. Importance of taking account of institutional and structural variables along with more traditional economic variables 7. Explain why development means more than the growth of per capita income. a. Leads to improvement in wellbeing, more broadly understood 8. In what way is development economics greater in scope than traditional economics? 9. Explain the 3 core values of development. a. Sustenance—meet basic needs b. Self-esteem—needs are met, people need to feel they are important c. Freedom from servitude—can make choices 10. What are the 3 objectives of development? a. Increase availability of life sustaining goods b. Raise levels of living c. Expand range of choices 11. Explain some of Sen’s key “capabilities” or “beings”. (see the slides for the 11 th edition or class notes) i. Amartya Sen—argued “capability to function” is most important ii. “beings”—being able to live long, being well nourished, being health, being literate, being well clothed, being mobile, being a part of a community, being happy iii. Functionings as an achievement iv. Capabilities as freedoms enjoyed in terms of functionings
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v. Development and happiness vi. Well-being in terms of being well and having freedoms of choice
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This note was uploaded on 09/27/2011 for the course ECO 346 taught by Professor Gallaway during the Fall '11 term at Missouri State University-Springfield.

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ECO 346 Exam 1 Review Questions - From pages 9-11 in the...

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