Economic Development & Capability Approach – Key Vocabulary

A comprehensive set of vocabulary flashcards summarizing key theories, policies, frameworks, SDGs, media influences, and institutional insights from the lecture notes on economic development, Amartya Sen’s Capability Approach, and related topics.

Economic Development

A multidimensional process that raises living standards, expands economic growth, and reduces poverty.

Multidimensional Process

An approach that recognizes economic, social, political, and environmental dimensions of development.

Improvement of Living Standards

Enhancement of health, education, welfare, and overall quality of life for a population.

Economic Growth

Sustained increase in a nation’s output, productivity, and income over time.

Poverty Alleviation

Efforts and policies aimed at reducing the number of people living in poverty.

Social Equity

Fair access for all individuals to opportunities, resources, and benefits of development.

Sustainability Practices

Actions that meet present needs without compromising resources for future generations.

Political and Institutional Factors

Governance structures and policy frameworks that shape development outcomes.

Classical Development Theory

Traditional growth models emphasizing capital accumulation and labor as drivers of progress.

Neoclassical Development Theory

Growth theory focusing on market efficiency, technological change, and factor allocation.

Capital Accumulation

The growth of physical and human capital used for investment and production expansion.

Role of Labor

Contribution of workforce skills and productivity to economic performance.

Technological Change

Innovations that improve efficiency, reduce costs, and create new production methods.

Dependency Theory

Perspective highlighting unequal economic relations between developed and developing nations.

Sustainable Development

Balanced pursuit of economic growth, social inclusion, and environmental protection.

Socio-economic Inequality

Uneven distribution of income, wealth, and opportunities across groups in society.

Todaro & Smith

Economists who integrated social factors and migration into development analysis.

Rural-Urban Migration

Movement of people from countryside to cities in search of better opportunities.

Analytical Development Frameworks

Structured models used to study complex socio-economic contexts and policy impacts.

Economic Development Policy

Government strategies designed to stimulate growth, create jobs, and enhance welfare.

Regulation and Oversight

Institutional rules that ensure fair practices and safeguard public interests.

Public Goods

Non-excludable, non-rival services provided by government—e.g., roads, security, sanitation.

Trade Policy

Rules governing imports, exports, and tariffs to promote national economic interests.

Education Investment

Allocation of resources to schools and training to build a skilled workforce.

Infrastructure Development

Construction and maintenance of transportation, energy, and communication networks.

Social Safety Nets

Programs offering support to vulnerable populations, such as cash transfers or food aid.

Case Study

In-depth analysis of specific situations to derive lessons and best practices.

Inclusive Growth

Economic expansion that equitably benefits all segments of society.

Environmental Sustainability

Long-term stewardship of natural resources and ecosystems.

Ecological Preservation Policies

Regulations designed to protect biodiversity and prevent environmental degradation.

Globalization

Increasing cross-border flow of goods, capital, information, and culture.

Economic Dependence

Reliance on external markets or actors that can create vulnerability to shocks.

Technological Advancements

New tools and processes that raise productivity and create fresh opportunities.

New Economic Paradigms

Emerging models emphasizing sustainability, equity, and inclusive participation.

Integrated Development Approaches

Strategies that jointly address economic, social, and environmental factors.

Capability Approach

Amartya Sen’s framework focusing on people’s freedoms to achieve valued ways of being and doing.

Capabilities

The real freedoms individuals have to pursue lives they value.

Functionings

Actual achievements or states of being, such as being healthy or educated.

Freedom (Sen)

The substantive opportunity to choose and act toward one’s well-being.

Beyond Economic Wealth

Evaluation of development through broader human capabilities rather than income alone.

Happiness and Development

Recognition that well-being includes mental health, fulfillment, and social relations.

Sustainable Development Goals (SDGs)

Seventeen UN objectives aimed at ending poverty and promoting sustainable prosperity.

SDG 1 – No Poverty

Goal to eradicate extreme poverty and prevent financial hardship from health crises.

SDG 3 – Good Health and Well-being

Goal ensuring healthy lives; includes access to safe, affordable surgical care.

SDG 4 – Quality Education

Goal to provide inclusive, equitable education and lifelong learning opportunities.

SDG 5 – Gender Equality

Goal to eliminate gender disparities, including access to surgical services.

SDG 8 – Decent Work and Economic Growth

Goal to foster sustained, inclusive economic growth and productive employment.

SDG 9 – Industry, Innovation & Infrastructure

Goal to build resilient infrastructure and promote innovation.

SDG 10 – Reduced Inequality

Goal to decrease social, economic, and political disparities within and among countries.

SDG 17 – Partnerships for the Goals

Goal encouraging collaboration among stakeholders to achieve the SDGs.

Media Representation

The way news and imagery portray regions, influencing public perception.

Resilience and Agency

Communities’ capacity to adapt, innovate, and direct their own development.

Negative Stereotypes

Oversimplified, harmful portrayals that distort understanding of a group or area.

Urban Development (China)

Rapid city growth characterized by modern infrastructure and rising living standards.

Technological Innovation (China)

Advances that position coastal China as a leader in various high-tech industries.

Aid Allocation Bias

Uneven distribution of international assistance driven by media-shaped perceptions.

Balanced Media Representation

Accurate, nuanced coverage including voices of affected communities.

Ivy League

Eight prestigious U.S. universities known for academic excellence and historic origin.

Athletic Conference

1954 formation coordinating sports competitions among Ivy League schools.

Selective Admissions

Highly competitive process evaluating applicants on academics, essays, and activities.

Holistic Evaluation

Admissions approach considering academic, personal, and extracurricular factors.

Secret Societies

Exclusive student groups with long-standing rituals on some Ivy campuses.

Honor Codes

Student-led systems upholding academic integrity and ethical conduct.

Financial Aid Expansion

Increased scholarships and grants to improve access for lower-income students.

Socioeconomic Diversity

Representation of students from varied income backgrounds in a university community.

Interdisciplinary Programs

Curricula combining multiple fields to solve complex real-world issues.

Global Partnerships

Collaborations with foreign institutions for research and education exchange.

Academic Benchmarks

Standards set by elite universities that influence broader higher-education policies.

Research Excellence

Cutting-edge investigations producing significant advancements across disciplines.

Notable Alumni

Graduates who become influential leaders in government, business, science, and arts.

Modernization & Innovation

Adoption of new technologies and teaching methods to stay academically relevant.

Access & Equity Challenges

Ongoing efforts to remove barriers and ensure inclusion in elite education.