In this post we will discuss measures of poverty and inequality. What is Poverty? Poverty can be defined in two ways, absolute poverty and relative poverty. In ordinary language when we ask about poverty, we often mean absolute poverty. But what it is? United Nations define poverty as: A condition
Introduction to Microeconomic Household Fertility Theory The 3rd stage of Demographic Transition Theory marks the decline of birth rate with the increase in level of economic development. To explain this decline in birth rate we use Microeconomic Household Fertility Theory which is the application of consumer behavior in microeconomics. Microeconomic Household
In the previous post we study about Demographic Transition Theory. In this post we will discuss Introduction to Malthus Population Theory Thomas Malthus examined the relationship between population growth and food supply in his essay “The Principle of Population” in 1798. This theory has two core principles: Core Principles of Malthusian
In the previous couple of blogs, we discussed the Lewis Theory of Economic Development and International Dependence Model. In this blog our focus is on neoclassical long run economic growth model. Introduction of Solow Model of Economic Growth The Solow model of economic growth is a well-known Neoclassical exogenous growth model
Introduction to Demographic Transition Theory Demographic Transition Theory (DTT) explains how population growth changes as countries move from traditional agrarian economies to modern industrial societies. The theory highlights long-term shifts in birth rates, death rates, and population growth, showing that development transforms population dynamics over time. Early societies experienced high
Classical Theories of Economic Development Linear Stage Models Rostow Stages of Economic Development Harrod-Domar Growth Model Structural Change Models Lewis Model of Economic Development Fei-Ranis Two-Sector Model International Dependence Model Neocolonial Dependence Model The False-paradigm Model The Dualistic-development Thesis Neoclassical Growth Model Solow Growth Model Introduction International dependence models gained
Classical Theories of Economic Development Linear Stage Models Rostow Stages of Economic Growth Harrod-Domar Growth Model Structural Change Models Lewis Two-Sector Model Fei-Ranis Two-Sector Model International Dependence Model Neocolonial Dependence Model The False-paradigm Model The Dualistic-development Thesis Neoclassical Growth Model Solow Growth Model In the couple of previous blogs we
Rostow stages of economic development are 5 stages through which every must pass through to become developed. These stages are given by an American Economic historian Walter W. Rostow in his book “The Stages of Economic Growth” in 1960. These stages are. The traditional society The precondition for takeoff The
What is Foreign Aid Foreign aid is the transfer of resources from one country (usually a developed country) to another (usually a developing or underdeveloped country) to support economic needs and development goals of recipient. It can be in the form of grants, loans, technical assistance, or goods like food
Countries are often classified by levels of income and human development. They are also grouped by levels of poverty, quality of governance, and many other dimensions. The most common way to compare countries is to compare their average income that is Gross National Income Per Capita. The World Bank classifies