A branch of economics which deals with economic aspects of the development process in Less Developed Countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the wellbeing of thepopulation, for example, through health and education and workplace conditions.
In IB Economics Section 4 Development economics includes:
4.1 Economic development
4.2 Measuring development
4.3 The role of domestic factors
4.4 The role of international trade (one topic HL extension)
4.5 The role of foreign direct investment (FDI)
4.6 The roles of foreign aid and multilateral development assistance
4.7 The role of international debt
4.8 The balance between markets and intervention
Garibaldi Secondary School, Maple Ridge, British Columbia, Canada