Class Notes (906,593)
CA (538,683)
UTSC (32,652)
IDSB01H3 (31)
Lecture

IDSB01 - Lecture 3

8 Pages
66 Views

Department
International Development Studies
Course Code
IDSB01H3
Professor
Liang Chen

This preview shows pages 1-3. Sign up to view the full 8 pages of the document.
IDSB01 Week 3: How Economic Growth Happens
MIDTERM: OCT 24: 3-5, GYM
-25 35% = short answer, multiple choice, definitions
-60 65% = longer answers, essays-type; diagrams
-60 75% based on lectures
-Readings: include a bunch of chapters from text and articles
oWould help a lot on short answers, help expand on long-answers
-No numbers, not a memory test. Sometimes numbers (important numbers, but not like
how many people died in blank war?, numbers that help in knowing a theory though)
How Economic Growth Happens
-No way to get everybody out of poverty unless average productive capacity of population
is reasonably high
oGrowth
Why are people better off in a rich country (France, USA) as opposed to a low income country
(Haiti)? (direct and indirect answers)
-Weak resource management
Relates to lacking basic needs (?)
-Effective use of Labour
oAllocation of labour for most productive uses
oDelegation of tasks
-Direct Determinants causal factors
oNatural Resource Endowment
oInvestment
oClimate
Leading to natural disasters (set-backs)
www.notesolution.com
Food problems
oPsychology
Technological Difference
-Indirect Determinants determine direct causes, background determinants
oPolitical Accountability (Democracy?)
oColonialism
Powers got rich in part due to exploitation of colonies which lowered the
income of the colony
Explains richness of rich country and poorness of low-income colonies
oWars
WWI and WWII (Intl wars)
USA gained on both on more than one mechanism
Many European countries (esp. WWII) lost alot of ground, suffered
damage, but USA/Canada had no war on their own soil, no
destruction.
Civil wars (conflicts)
Typically low-income countries as opposed to countries that
maintain internal peace
Economic Outputs
-level of output (GDP) = [f(natural resource endowment, investment, labour force *size*,
technology)]
oFactors of Production
www.notesolution.com
Basically inputs (direct factors) that lead to potential output (indirect); Inputs that we have (major
determinants) of output we CAN get
potential possible to mismanage economy, can have lots of
resources, but output can fall way short of what it could be 
Underproduction of an economys potential
E.g. The Great Depression: mismanagement
Resources were simply unused, unemployment (unused labour),
prices were too low led to plant closure (aggregate demand was
too low demand side problem)
Key problems: underutilization of resources + misallocation of
resources
f(factors of production + key problems + intl terms of trade)
GDP / Population
www.notesolution.com

Loved by over 2.2 million students

Over 90% improved by at least one letter grade.

Leah — University of Toronto

OneClass has been such a huge help in my studies at UofT especially since I am a transfer student. OneClass is the study buddy I never had before and definitely gives me the extra push to get from a B to an A!

Leah — University of Toronto
Saarim — University of Michigan

Balancing social life With academics can be difficult, that is why I'm so glad that OneClass is out there where I can find the top notes for all of my classes. Now I can be the all-star student I want to be.

Saarim — University of Michigan
Jenna — University of Wisconsin

As a college student living on a college budget, I love how easy it is to earn gift cards just by submitting my notes.

Jenna — University of Wisconsin
Anne — University of California

OneClass has allowed me to catch up with my most difficult course! #lifesaver

Anne — University of California
Description
IDSB01 Week 3: How Economic Growth Happens MIDTERM: OCT 24: 3-5, GYM - 25 35% = short answer, multiple choice, definitions - 60 65% = longer answers, essays-type; diagrams - 60 75% based on lectures - Readings: include a bunch of chapters from text and articles o Would help a lot on short answers, help expand on long-answers - No numbers, not a memory test. Sometimes numbers (important numbers, but not like how many people died in blank war?, numbers that help in knowing a theory though) How Economic Growth Happens - No way to get everybody out of poverty unless average productive capacity of population is reasonably high o Growth Why are people better off in a rich country (France, USA) as opposed to a low income country (Haiti)? (direct and indirect answers) - Weak resource management Relates to lacking basic needs (?) - Effective use of Labour o Allocation of labour for most productive uses o Delegation of tasks - Direct Determinants causal factors o Natural Resource Endowment o Investment o Climate Leading to natural disasters (set-backs) www.notesolution.com
More Less
Unlock Document


Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


OR

Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit