Question

1) describe the concept of development economic and explain why you have to study development economic...
2) describe the structural change model and the big push model
3) review the concept of income inequality and some application of income and sustainable development, relationship between health and education

Answer 1

1)Development economics which is a branch of economics , lays stress on fiscal,economic and social conditions of  developing countries .Development economics helps to understand the problems of less developed countries. and help understand how some countries are moving forward while some economies are lagging behind.Development economics take into consideration factors like health, education,conditions in the market,conditions in the workplace,domestic and international policies and tries to improve the conditions in less developed nations.

2)Structural change model describes the change in the basic ways in which the market or the economy operates.The structural changes that the country goes throughin the development process is from primary to secondary and from secondary to tertiary stage.

The big push model is a .concept in development economics or welfare economics that focus on the point that a firm will decide whether to industalize based on the expectation of the decision of other firms.The Big Push model makes the assumption of Oligopolistic market and economies of scale and throws light on when industrialization will take place.

3)Disparity in the distribution of income with more income in the hands of the small percentage of the population while the larger population receives less income.There is a big gap between the rich and the poor.

Sustainable development means development that meets the needs of the present without compromising the future.Sustainable development goals aims at reducing income inequality and tries to ensure that not even a single person is left behind.Inequality still persists even though efforts have been made to reduce it.Inequality is growing in countries with weak health system,refugees and migrants and older persons.

Poor health is the result of attaining less education.Poor health can also come in the way of attaining education. Poor health can affect schooling and cause educational sebacks.Educational outcome is affected by health conditions,disabilities etc.People with more education can live long and lead ahealthy life than those with less years of schooling.