why do we have a less developed economy in philippines

Developing economies are these economies which have not reach mass consumption stage of growth. such economies includes; African countries like Uganda, Chad,Iv
ory coast, South American countries like Valenzuela, Honduras and Chile in Asian, countries like Vietnam, Yemen, Afghanistan, Syria,and Palestine. these developing economies are characterize by;low industrial development, dominants of subsistence production,use of indigenous tools like hand hoes for framing, existences of strong cultural ties and believes and the presents of high population growth rates. therefore, developing economies are faced with the following problems as discuss below; first, developing economies have very poor economic policy such as policies to control inflation and unemployment. for instances, in Uganda money is printed when the government wants t use the money in fulfilling her needs, this was true during Amins time whereas, at the present there is no policies being implemented by the government to control unemployment in the country, this therefore leaves the country\’s resources under utilized. secondly, the poor education systems within the developing economies leaves the developing countries in great deal of problems. for instances, in Uganda and Kenya still follows the British old system of education which is not even used in Britain yet these kind of educational system teachers students and university leavers more theories than practical lesson that could help to cause development within the country. example, most engineers of Uganda are more theoretical knowledge of handling construction works and mechanic because the system of education trains them to be job seekers and not job makers that would help to create more employment for the people so as to make the acquire he basic needs of live. thirdly, the poor political climate in the less developing economies keeps this countries in problems such has low production, high inflation rates, unemployment and poverty. this is because most of the government officials are corrupt and the existences of coups and civil wars leaves the country in poor stage of economic growth and development. for example, in Zimbabwe 2009 there was a very high inflation within the country,disease know has cholera stack the country and killed almost 2000 people. this was because of the poor governance within the country other problems includes;poverty, unemployment, poor technology/production methods used by the developing economies, high illiteracy rates, high population growth rates thus increasing the dependency rates within families, damping by the developed economics which kills the initiative to develop and expand local industries within the developing economies, high rates of profit repartriation by foreign investors within the developin economies,dependency on the developed world, high level of deficit financing by the developing economies which worsten their balances of payment postion, and poor terms of trade in the world market since most developing economies produces raw materials instate of finished products which earns a value added You are here ECTS Weighting Semester/Term Taught Contact Hours Module Personnel The problems facing less developed countries are among the greatest challenges facing the world today.

This module will focus on the diverse structures and common characteristics of less developed countries and will offer an evaluation of policies being pursued.

The module begins by discussing the idea of economic development before moving onto sources of and barriers to development. It uses contemporary models of economic development to investigate why some countries are rich and others are poor. The inherent challenges of development policymaking will be considered, before the success and failure of trade, finance and aid policies in less developed countries is examined. The central role of macro and micro institutions in economic development is considered in detail. Upon successful completion, students will be able to: Explain what is commonly meant by development and which countries fit into the less developed country category and why they do so. Critically assess the evidence for a relationship between growth and poverty. Explain and evaluate models of economic growth and how education and development may be related. Apply economic theory to issues of population growth and urbanization and examine the evidence for these theories in developing countries.

Identify and account for the challenges of government planning in developing countries. Appraise the contribution of trade, finance and aid policies to the advancement of developing countries and formulate a balanced judgement on the opportunities and threats posed by these to developing countries. Recognise the multiple functions of institutions and the role they play in economic development. Outline the connections between economic development and the environment and articulate a balanced judgement on the potential policy responses. The ability to apply economic theory to complex situations with imperfect markets. The ability to use techniques learnt in earlier courses to a practical subject of interest to the students. Michaelmas Term: What is development and who are the developing countries? Income Levels, Income Distribution and Development Policymaking: What Role for the State in development? Trade: Engine of growth or obstacle to development? Aid: Does it work? The main textbook for the course is: Michael Todaro and Stephen C. Smith, Economic Development, (11th edn. ), Addison Wesley Longman, 2011. A supplementary reading list will also be available on Blackboard. An essay accounting for 10% of the overall grade and a Group Presentation and Peer Review accounting for 10% of the overall grade. The Annual Examination is worth 60% of the overall grade.

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