The changing economic world

• DTM


  Demographic Transition Model, showing change in population over time
• GNI


  Gross National Income, shows average income per person (per capita)
• Refugee


  A person forced to move from their country of origin due to a war or disaster
• Immigrant


  A person who moves into a country
• Economic migrant


  A person who moves voluntarily to seek a better life or job
• Displaced person


  A person forced to move from their home, but stays within their country of origin
• Emigrant


  A person who moves out of a country
• Uneven development


  Describes the difference in development in countries across the world
• The multiplier effect


  1-Foreign investment

  2-More jobs

  3-People earn more money so pay more taxes

  4-People have more money to spend on services and infrastructure that the government has invested in

  5-Increasing standard of living through better infrastructure and technology

  6-Workers become more productive

  7-Investment is more likely

  8-The cycle begins again
• Top down investment 


  Large scale projects with high government input. Based on the idea that benefits will ‘trickle down’ through the economy from the top, so everyone benefits
• Bottom up investment 


  Small scale investment, leading to community development. Benefits will grow from the bottom since locals will spend more money in the local economy
• Micro-finance


  Small scale financial support given by banks to help the poor
• Development 


  The way that social and economic conditions improve in a country overtime, in order for people to reach an acceptable quality of life/ standard of living
• NEE


  Newly emerging economy, countries rapidly getting richer, with their economy moving from primary to secondary sectors
• LIC


  Low income country, the poorest countries in the world, with a low GNI and low quality of life for most
• HDI


  Human development index, measures social and economic development factors, used by the United Nations
• Birth rate


  The amount of babies born, often per 1000 per year
• Death rate


  The amount of deaths, often per 1000 per year
• Infant mortality


  The amount of babies that die during infant hood, often per 1000 per year
• Number of doctors


  The amount of doctors per 1000 people
• Literacy rate


  The amount of people in a certain population that can read and write
• Water percentage


  The percentage of a population with access to clean, safe water
• TNCs 


  Transnational corporations, large companies that operate in several countries, with headquarters in one and production in several others
• Emergency aid


  Usually follows a natural disaster, war or conflict. Mainly takes the form of food, water, healthcare and shelter
• Developmental aid


  Long term support given by charities, governments and multilateral organisation. Aims to improve quality of life by providing safe water, education and improvements in infrastructure
• Primary industry


  Raw material gathering (extracting from the land or sea)

  Jobs include farmers, miners and fishermen
• Secondary industry


  Manufacturing raw materials into products

  Jobs include factory workers, steel workers and builders
• Tertiary industry


  Providing a service to others

  Jobs include teachers, doctors and customer service workers
• Quaternary Industry 


  Involves research and development, high level expertise and skills

  Jobs include scientists, computer programming and financing
• Globalisation


  The growth and spread of ideas around the world
• Deindustrialisation 


  The closure and decline of factories and the secondary industry, and subsequent drop in the primary industry
• Government policy


  A plan or course of action decided by a government to manage issues within a country
• A post industrial economy


  Manufacturing industry declines and is replaced by growth in the tertiary sector and development of the quaternary sector
• Growth corridors 


  Areas of tertiary and quaternary industry, usually connecting two cities following a motorway
• Science park


  A group of scientific and technical knowledge based businesses, located on a single site. (Quaternary sector)
• Business park


  Area of land occupied by a cluster of businesses, usually located on the edges of towns. (Tertiary sector)
• HIC


  High income country, the wealthiest countries in the world, with a high GNI and high quality of life for most
• An example of how the growth of tourism in a LIC or NEE helps reduce the development gap

  Jamaica (NEE)

  Positives

  • tourism contributed 24% of GDP in 2014 - US$2 billion each year
  • Conservation efforts, and tourism provide job opportunities (200000 jobs in tourist industries)
  • Community and eco-tourism is expanding in more isolated regions
  • New water treatment plant to reduce pollution

  Negatives

  • Environmental problems like path erosion, excessive waste and harmful emissions
  • Large numbers of people live in poor housing, with limited food, water and poor healthcare and education
• A case study of LIC or NEE

  Nigeria (NEE)
• Importance of Nigeria


  Regionally

  • fastest growing economies in Africa, and the largest economy (GDP)
  • Highest farm output in Africa
  • Africas largest population

  Globally

  • supplies 2.7% of the worlds oil
  • has a rapidly improving GDP