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Economic development

________ is unsustainable when it increases vulnerability to crises.

Human well

________- being is possible by creating societies whose social, political, economic and cultural structures empower their members.

Economic growth

________ and development are intertwined and can be assessed from two perspectives: the mainstream and the critical.

IMF

The ________ advises member countries on economic and financial policies that promote stability, reduce vulnerability to crises, and encourage sustained growth and high living standards.

Economic growth and development are intertwined and can be assessed from two perspectives

the mainstream and the critical

According to this approach, development is linear

there is a specific "path" that countries can follow to achieve development

IMF

 the _____ provides technical assistance to help strengthen members’ institutional capacity and makes resources available to them to facilitate adjustment in the event of a balance of payments crisis.

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**Global Economic Stability**

 is considered a very important factor that keeps the economy from falling to large amounts of debts, inflations or price fluctuations.

**Economic stability**

The **____________** __stabilizes the growth of an economy and to avoid financial crises that are considered economically unstable.__

International Monetary Fund (IMF)

According to the _____ in 2012, “avoiding large swings in economic activity, high inflation and excessive volatility in exchange rates and financial markets”.

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Jean Charles Leonard de Sismondi

“The overall pattern has been known at least since the analysis of French economist __________ in 1819.

**Knoop**

It say that within a few years every economy moves through periods of rapid growth with rising demand, higher inflation and dropping unemployment, followed by depression with several phenomena” **(________, 2009).**

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the Great Depression of 1929

When ___________, the worst economic downturn in the history of the industrialized world happened, lasting for a decade (1929-1939) almost 15 million Americans were unemployed and nearly half the country’s banks had failed. After this many economic downfalls happened in the world including Asian financial crisis in 1997, Russian crisis, Argentina in 1999.

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1929-1939

The Great Depression of 1929 lasted until?

15 million

How many Americans were unemployed during the Great Depression of 1929?

Asian financial crisis, Russian crisis, Argentina

After this many economic downfalls happened in the world including _____________ in 1997__, ,__ ___________in 1999.

national

 Economic stability is a ___________ concern.

**Sustainable economic growth**

____________ means a rate of growth which can be maintained without creating other significant economic problems, especially for future generations.

***trade-off ,*** rapid economic growth today, growth in the future

 There is clearly a **_________** between __________,__ and _____________ .

**Rapid growth**

**______________ today** may exhaust resources and create environmental problems for future generations, including the depletion of oil and fish stocks, and global warming.3

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Economic development

is unsustainable when it increases vulnerability to crises. For example; a drought may force farmers to slaughter animals needed to sustain production in future years, a drop in prices may cause farmers or other producers to over-exploit natural resources to maintain incomes.

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