IDSB01 - Lecture 2

10 Pages
Unlock Document

International Development Studies
Liang Chen

IDSB01 Lecture 2: What is Development? Intro Stuff - Tutorial next week + next after o Essay discussion o 2 weeks from today = 1 movie What is Development? - How can economic change be beneficial to a good society? o When does increasing productive capacity contribute to a good society o good society subjective, hard to conclude Theres general common views - The way economists measure progress (development) o Average Income Increase in national income (central scale) Natural indicator; approximately the same as GDP (gross domestic product) Standard measure Drawbacks: just gives average, doesnt account for money made overseas, current price measures Can take crisis into account; inflation, prices divide nominal income (current) by increase in income (i.e. 1.05 if 5% increase) to find real increase in GDP Always uses REAL GDP in class o Income Distribution Average can get very misleading i.e. Real income can increase when poverty increases
More Less

Related notes for IDSB01H3

Log In


Join OneClass

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

Sign up

Join to view


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.