Economic Development: What and Where? AP Human Geography & Global Studies - Damon - March 2015
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Economic Development: What and Where?
AP Human Geography & Global Studies - Damon - March 2015
GDP per Capita1500 1900
1990 2015
What changes? Why? How?
What is Economic Development?
• Economic improvement, better health, nutrition, education and environment
• Countries can be categorized as:• Developed & Developing• Core, Periphery & Semi-Periphery • More Developed Countries (MDCs) &
Less Developed Countries (LDCs)
Developed and Developing
Regional Trends? Outliers? Outdated?
Core, Periphery and Semi-Periphery
Regional Trends? Outliers? Outdated?
Hans Rosling Says “Stop Calling Them
Developing Countries”
The term ”developing countries" might have made sense once. Today it's impossible to make a clear distinction between "developing" and
"developed" countries.
How Can We Measure Economic Development?
United Nations Human Development Index (HDI)
One statistic that reflects life expectancy, years of schooling & income
2014 U.N. HDI
Regional Trends? Outliers?
Top Ten and Bottom Ten
How Can We Measure The Value of Economic Production?
• Gross National Product (GNP): value of goods and services produced by a country in a year
• Gross Domestic Product (GDP): value of goods and services produced in a country in a year
• Gross National Income (GNI): value of goods and services produced by a country in a year plus investment income
A Statistic That Is Expressed Per Capita Means?
Per Person
Shortcomings of GNP, GDP and GNI
• Only measure formal economy– Do not include subsistence, informal and
illegal (black market) activities
• Do not measure true costs of production (externalities)– Examples: environmental effects, health
effects, working conditions, etc.
Informal Economic Sector
Example: Illegal Activities That Are Not Calculated in GDP
Example: Externalities
Example: Externalities
As China develops economically, a wealthier population purchases more cigarettes, which helps the economy in the short run, but will result in increased health care costs in the future.
Additional Key Measure of Economic Development:
Labor Force Structure Percent Employed in Primary, Secondary, Tertiary Sectors
Percent of Labor Force Engaged in Agriculture
Other Statistics We Can Use
and many more …
Scale Is Important!
GDP per capita 2013
Scale Is Important!
Scale Is Important!
Happy Planet Index
Happy Planet Index
http://www.happyplanetindex.org/data/
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