development? (b) Identify and briefly describe the economic and social indicator used to measure development. WHY MEASURE DEVELOPMENT First we measure development to compare the development of one country to another. And also to measure the previous performance of one country and its current performance. Economic Indicators The economic growth of countries refers to increase in output of goods and services that a country produces over an accounting period, normally 1 year. This approach uses income per head of the population as a measure of development, suggesting that the higher the income of a country or territory, the greater its development. Gross Domestic Product(GDP) per capita. This measures the values of all the goods and services produced by a nation or a territory, whether by national or foreign companies. When calculated the national total is divided by the total population, to the given value of goods and services produced per head of the population. Gross National Product (GNP) per capita. This is the gross domestic product to which net income derived from overseas is added. Income generated from abroad is added and payments made overseas are subtracted. This total is then divided by the population This is recently known as Gross National Income (GNI) per capita. Higher GNI means higher growth of development on the given nation. Social indicators Social indicators tend to describe social trends and conditions impacting on human well being . These are non economical factors that are involved in the process of development. In 1989 UNDP promoted the Human Development Index (HDI) as a wider measure of development. Health and Life Expectancy Health: is a state of being free from illness or injury. Life expectancy(LE): is an estimate of how many years a person may be expected to live .A nation with a higher life expectancy of its people is expected to be more developed compared to the lower life expectancy. Standard of Living This is originally measured by Gross Domestic Product per capita in the US A nation with a higher standard of living has a higher development compared to the one with lower standard of living Education and Knowledge This is initially measured by adult literacy rate and the gross enrolment ratio (the combined percentage of the population in primary, secondary and tertiary education). Thus higher literacy rate indicates the growth development is high and vice versa is true. references THE COMPANION TO DEVELOPMENT STUDIES THIRD EDITION, BY VANDAMA DESAI AND ROBERT B. POTTER ECONOMIC DEVELOPMENT 11TH EDITION, BY MICHAEL P. TODARD AND STEPHEN C. SMITH Group members
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