Introduction to Development Economics

Flashcards covering key vocabulary and concepts from the lecture on Introduction to Development Economics, including definitions of economics, development economics, its themes, and general patterns of global development.

Economics

A discipline that seeks to understand how individuals, firms, and countries make decisions to allocate limited resources.

Development Economics (Book's Definition)

The study of how economies are transformed from stagnation to growth and from low-income to high-income status, and overcome problems of absolute poverty.

Original Motivating Question in Development Economics

Why are some countries poor?, which was considered paternalistic and orientalist due to assuming Western countries as 'normal' and others needing to be 'fixed'.

Geographic Theme of Development Economics

Applying modern economic techniques to understand low and middle-income countries, effectively encompassing any economic research done outside of a western, high-income country.

Non-Western Theme of Development Economics

Understanding economic circumstances that do not exist in high-income countries, including unique institutions, organizational and family structures, social norms, and preferences.

Macro/Growth Theme of Development Economics

Focusing on differences in macroeconomic performance between countries and over time.

Poverty Theme of Development Economics

Investigating why some people are poor and why there is income inequality, which can include poor parts of high-income countries (subject-based rather than geographically based).

Policy Orientation Theme of Development Economics

Research motivated by a desire to change or improve conditions, often directed at identifying solutions to policy questions.

Modern Motivating Question in Development Economics

What is the source of the diverse set of economic and social conditions that determine the wellbeing of individuals around the globe?

General Patterns of Development (Poverty)

Poverty is geographically concentrated, particularly in tropical regions around the equator, with Sub-Saharan Africa exhibiting the highest concentration.

Gross National Income (GNI)

A measure used to compare the total income of countries, often adjusted by Purchasing Power Parity (PPP).

Per Capita Income

A measure of income per person in a country, used to compare individual economic wellbeing across nations.

Life Expectancy

A demographic indicator reflecting the average lifespan in a country, often correlated with development status and quality of life.

Child Mortality

A health indicator measuring deaths per 1,000 live births, often higher in less developed regions.