ECON414 Chapter Notes -Infant Mortality, Opportunity Cost, Human Capital
7 Dec 2012
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Ch 12 population, education, and human capital. Population is the backbone of development as it provides the labour force and educating the population increases human capital, which allows the economy to utilize and gain knowledge and development positive externalities. Malthusian relation: the poorest of the economy have the highest population growth rates. *low income leads to increased population growth* (though there is a lag between increasing the income and seeing a decline in population growth). Cbr- crude birth rate (live births per 1000 population per year) Cdr- crude death rate (deaths per 1000 population per year) Actual pop growth= (cbr cdr)/10 + immigration - emigration. A hundred years ago, cdr almost cancelled out cbr so that there was little change in net population. Dt refers to when both cdr and cbr fall to a rate less than 20 per 1000. Dt and now-developed countries: rapid economic growth led to increased income, living standards, and education.
