Untitled Flashcards Set

Key Concepts:

1. Difference between developed and developing countries 

• Developed:(MDCs) have high standards of living, advanced technological infrastructure, and higher Human Development Index (HDI) scores.

• Developing:  (LDCs) are still undergoing industrialization, have lower standards of living, and lower HDI scores.

  • Uneven development: Development is uneven geographically, both within countries and between regions

2. Measures used to determine development level of a country

• Human Development Index (HDI): Measures development by considering life expectancy, education, and income levels.

  • be familiar with the indicators used to determine HDI: Health, education, and standard of living.

• Gross Domestic Product (GDP):Total value of goods and services produced within a country.

• Gross National Income (GNI):Total value of goods and services produced by a country, including income from abroad.

• Purchasing Power Parity (PPP)(think of the Big Mac Index):Compares the relative price of a standard set of goods across countries

• benefits: They provide a quantifiable way to compare countries' development levels.

• shortcomings :They can oversimplify or overlook factors like inequality, environmental sustainability, and cultural differences.

3. Measures for determining levels of inequality

• Inequality-adjusted Human Development Index (IHDI):Adjusts HDI for inequality.

• Gender Inequality Index (GII):Measures gender inequality in health, empowerment, and labor market participation.

4. Be familiar with the different sectors of the economy

• Primary-Gets raw materials from the ground by mining and ships it to secondary sector.

• Secondary-makes raw materials into everyday products and ships it to tertiary sector.

• Tertiary- sells the items that were made and gets the money.

• how gender inequality and development are linked to one another: Countries with high levels of gender inequality often face slower development due to the underutilization of the female workforce and limited access to education for women.

5. Theories of development ( the pros and cons for them + how to apply them)

• Dependency Theory

  • Pros: Emphasizes the historical exploitation of poorer countries by wealthier countries and suggests that development is hindered by this unequal relationship.

  • Cons: Can be overly deterministic, disregarding internal factors within countries.

  • Application: Explains why many countries in Latin America, Sub-Saharan Africa, and South Asia remain dependent on richer countries for trade and investment.

• Rustow’s Model

  • Stages of Development: Focuses on political and social stability as necessary for economic development.

  • Pros: Provides a framework to understand how political systems evolve in relation to economic growth.

  • Cons: Does not account for the diverse paths countries take toward development.

  • Application: Useful for understanding Latin America’s path from authoritarian regimes to democracies.

• World-Systems Theory

  • Core-Periphery-Semi-Periphery: Explains the global economy through a core of wealthy countries, a periphery of poor countries, and a semi-periphery of countries in between.

  • Core: Tertiary/selling the goods and services

  • Semi-Periphery: Secondary/creates raw materials into goods and services

  • Periphery: Primary/gets raw materials out of the ground.

    • Examples:

      • Core: USA, Western Europe.

      • Semi-Periphery: Brazil, India.

      • Periphery: Sub-Saharan Africa.

6. Financing Development

• IMF and World Bank: Both institutions provide financial assistance to countries but have different approaches and conditionalities.

• Pros:

  • IMF:  Helps countries avoid crises by providing financial support and technical assistance 

  • World Bank: Helps low- and middle-income countries reduce poverty and develop their economies 

    • Cons:

      • IMF: Some say the IMF can be used as an economic weapon by its most powerful members 

      • World Bank: Some say the World Bank's loans have high interest rates and significant conditions 

• Programs: Designed to help countries in debt, but often criticized for imposing austerity measures that hurt social programs.

  • Pros: Can lead to economic reform and fiscal stability.

  • Cons: Can worsen poverty, reduce access to social services, and lead to social unrest.

7. Know about sustainable development practices

• Fair Trade: Ensures fair wages and working conditions for producers in developing countries.

• Microfinance: Small loans given to individuals in developing countries to help them start businesses.

• Ecotourism: Promotes environmentally responsible travel.

• Debt-for-Nature Swaps: Countries reduce their debt in exchange for commitments to conservation efforts.

  • challenges for sustainable development:poverty, corruption, political instability, and the need for large-scale investments can hinder sustainable development.

8. Be familiar with the UN’s Sustainable development goals: a set of 17 goals to end poverty, protect the planet, and ensure prosperity for all by 2030.

• Know at least a few of the 17 goals:

1. No poverty

2. Zero Hunger

3. Good health and well being

4. Quality education

5. Gender equality

6. Clean water and sanitation

7. Affordable and clean energy

Potential FRQ:

1. Relationship between development and infant mortality rates:

• Social: Access to healthcare, education, and social services.

• Economic: Wealth and healthcare infrastructure.

• Political: Government policies regarding healthcare and public services.

• Sustainable Development Impact: If sustainable practices are adopted, infant mortality rates may decrease.

2. Know the different sectors of the economy: (scroll up for this ones answer)

• know how economic changes impact social changes: Economic growth can improve living standards, reduce poverty, and lead to better education and healthcare, thereby improving social indicators. 

3. Know how Rostow’s Model can be used to understand social and economic changes:This Model can be used to understand social and economic changes by outlining a linear progression of development stages a country goes through, from a traditional, primarily agrarian society to a modern, high mass consumption economy, highlighting key shifts in industrialization, urbanization, and consumer behavior as a country progresses through each stage, thus providing a framework to analyze social and economic transformations within a nation over time.

• know how this can be applied to the following regions: Latin America, SubSaharan Africa, South Asia:

• Latin America: Countries here may be in the "Preconditions for Takeoff" or "Takeoff" stage of Rostow’s model.

• Sub-Saharan Africa: Many countries here are still in the "Traditional Society" or "Preconditions for Takeoff" stages.

• South Asia: Rostow's model applies to South Asia by showing its shift from a traditional agrarian economy to rapid industrial growth, particularly in India, with ongoing development stages

4. Relationship between education and development:The relationship between education and development is crucial, as higher education levels lead to better economic opportunities, slower population growth, and greater gender equality, which in turn fosters overall economic development.

5. Compare Rostow's model and the core-periphery model:

• Rostow's Model: Focuses on a linear progression of stages.

• Core-Periphery Model: Focuses on global economic relationships and the division between wealthy core countries and poorer peripheral countries.