EconDev CHAPTER-1
EconDev CHAPTER-1
EconDev CHAPTER-1
City of Tacurong
Course Syllabus
Prepared by:
Elmer D. Valera
Teacher
MISSION VISION
“The mission of Notre Dame of Tacurong “The Notre Dame of Tacurong College,
College is to produce highly compete n t a Catholic school, envisions to be a leading
graduates imbued with Christian and desirable institution in Central Mindanao in terms of
Filipino values, sense of social responsibility quality education, development programs
and integrity; and to assume active leadership and updated technology in consonance with
role in the locality and academic community its commitment to a dynamic and
through relevant and responsive programs, transformational leadership role in the
creative organizational strategies and pastoral society it serves.”
collaboration with the local church.”
CORE VALUES
E – Excellence
X – Christ(Xt)-centeredness
C – Commitment
E – Empowerment
L – Leadership
Specifically, NDTC:
1. Believes in EXCELLENCE as significant and vital element in the success of any quality
undertaking;
2. Believes in the development of CHRIST-CENTEREDNESS as being deeply rooted in Christ
Jesus and with the passion and spirit for evangelization;
3. Believes in COMMITMENT as an indispensable requirement for a dedicated service;
4. Believes in EMPOWERMENT of people as instruments for integral development; and,
5. Believes in LEADERSHIP that nourishes and transforms people so they can achieve their
own goal and that of the organization.
I.COURSE DESCRIPTION
This course offers an in-depth exploration of economic development, focusing
on the theories, policies, and practices that drive the growth and transformation of
economies, particularly in developing regions. Students will critically examine
historical and contemporary issues related to economic development, gaining
insights into the challenges and opportunities faced by nations striving for sustained
progress. The course integrates economic theories with practical applications,
emphasizing the role of institutions, policies, and globalization in shaping
development outcomes.
II.GENERAL OBJECTIVES
A. Develop a comprehensive understanding of various economic development theories, including
classical, neoclassical, structuralist, and modernization theories.
B. Analyze the factors influencing economic growth in developing economies, considering the role
of human capital, technological progress, and institutional frameworks.
C. Learn to measure and interpret key development indicators, such as GNP per capita, the Human
Development Index (HDI), and other relevant metrics.
D. Investigate the causes and consequences of poverty, explore strategies for poverty alleviation,
and analyze the dynamics of income distribution and inequality through the economic concepts.
E. Understand the critical role of institutions in economic development, including the impact of
governance, rule of law, and the importance of institutional reform.
F. Examine the relationship between international trade and development, exploring trade policies
and their implications for economies in the process of development.
G. Critically assess the role of foreign aid and development assistance in shaping the economic
trajectory of developing nations, considering challenges and effectiveness.
H. Investigate strategies for industrial development and urbanization trends, exploring the
challenges and opportunities associated with these processes.
III. COURSE REQUIREMENTS AND POLICIES
A.Regular Attendance
The student should avoid absences beyond the allowable number of absences as per Student Handbook in
order not to be dropped from this subject.
ECONOMIC
DEVELOPMENT
Elmer D. Valera
Part One:
Development Concepts
and Principles
• Real Concept of Development
• Ideas and Theories of Development
• Determinants of Economic
Development
• Measurements of Economic Growth
Chapter 1:
Real Concept of
Development
A better quality of life has been the
objective of societies and nations.
B Socialism
C Communism
D Feudalism
E Mercantilism
Checkpoint Question:
Which of the following economic systems is characterized by private
ownership of the means of production, free market competition, and
minimal government intervention?
A Capitalism
B Socialism
C Communism
D Feudalism
E Mercantilism
Checkpoint Question:
Question #2:In which economic system does the government have
significant control over the means of production, and there is a focus
on social equality and wealth distribution?
A Feudalism
B Socialism
C Mercantilism
D Capitalism
E Communism
Checkpoint Question:
Question #2:In which economic system does the government have
significant control over the means of production, and there is a focus
on social equality and wealth distribution?
A Feudalism
B Socialism
C Mercantilism
D Capitalism
E Communism
Checkpoint Question:
Question 3: Which economic system emphasizes communal
ownership of the means of production, with the goal of achieving a
classless and stateless society?
A Feudalism
B Socialism
C Mercantilism
D Capitalism
E Communism
Checkpoint Question:
Question 3: Which economic system emphasizes communal
ownership of the means of production, with the goal of achieving a
classless and stateless society?
A Feudalism
B Socialism
C Mercantilism
D Capitalism
E Communism
Classifications of Countries
The economy of country is measured by its gross
national product (GNP) or per capita income. The
basis of comparison is the economy of the highly
developed countries, usually the United States.
Example:
Modern methods of planting tobacco involve a
process, and this is development itself. The result is
more and better harvests, and this is growth.
Growth without Development
Not a few less developed countries are apparently progressive.
They have modern b ui ldi ngs and well- developed frui t
plantations. Their many corporations are very profitable.
Example:
In the Middle East which have experienced rapid economic
growth due to their incomes from oil. They have been able to
construct modern buildings, and other symbols of high living .
However there are no significant institutional changes in their
education, public administration, and health.
Objectives of Development
The traditional national objective of the less developed countries
was to increase their gross national products.
According to prime minister Cesar Virata government has been
committed to attain the three basic objectives:
1. The attainment of economic stability
2. The equitable distribution of the fruits of economic
development; and
3. The achievement of total human development for every
Filipino.
Stages of Economic Growth
The development of nations encompasses an evolutionary process
from the primitive to the modern societies.
E Unemployment rate
Checkpoint Question:
Question 1: What is the basis of comparison for measuring the
economy of a country?
E Unemployment rate
Checkpoint Question:
Question 2: How many countries were considered low-income in the
year 1976?
A 20
B 34
C 50
D 60
E 75
Checkpoint Question:
Question 2: How many countries were considered low-income in the
year 1976?
A 20
B 34
C 50
D 60
E 75
Checkpoint Question:
Question 3: What is the classification of countries like the United
States, Russia, and Australia based on their economic development?
B Intermediate countries
D Developing nations
E Underdeveloped nations
Checkpoint Question:
Question 3: What is the classification of countries like the United
States, Russia, and Australia based on their economic development?
B Intermediate countries
D Developing nations
E Underdeveloped nations
Checkpoint Question:
Question 4: Which countries fall under the category of "Intermediate
Countries" based on economic development?
E Denmark, Canada
Checkpoint Question:
Question 4: Which countries fall under the category of "Intermediate
Countries" based on economic development?
E Denmark, Canada
Checkpoint Question:
Question 5: According to the provided information, what is the result
of the development process in the context of planting tobacco?
A Economic stability
B Growth
E Modern buildings
Checkpoint Question:
Question 5: According to the provided information, what is the result
of the development process in the context of planting tobacco?
A Economic stability
B Growth
E Modern buildings
A Good Economic System
It is responsible for improving economic conditions of the people.
The economic system is measured by the following criteria:
v abundance
v stability
v security
v economic freedoms
v growth
v efficiency
v justice and equity