CBM 122

• Development (in an economic context)


  The process of improving the living standards, not just about increasing economic output (measured by GDP), but also about creating a society where everyone has the opportunity to thrive
• Why economic development is essential

  • Increased Productivity and Growth
  • Expanded Markets and Trade
  • Diversification and Resilience
  • Social Stability and Investment
  • Sustainable Growth
• Why study economic development

  • Understanding the Bigger Picture
  • Finding Solutions to Global Challenges
  • Preparing for the Future
• The Philippine Journey Through Economic Development Stages

  • Before 1521 - Pre-Colonial Era
  • 1521-1946 - Colonial Era
  • 1946-Present - Post-Colonial Era
• Subsistence Economy


  Focused on agriculture and fishing
• Import Substitution Industrialization (ISI)

  Focus on domestic production of goods previously imported
• The Green Revolution


  Introduction of high-yield crop varieties to increase agricultural productivity
• Export-Oriented Industrialization (EOI)


  Focus on manufacturing goods for export, attracting foreign investment
• The Philippines is considered a lower-middle-income country by the World Bank
• The Philippines experienced steady economic growth in recent years, but faces challenges in ensuring development that benefits all Filipinos
• The government is prioritizing infrastructure development, education, and attracting foreign investment in high-tech sectors
• Traditional Economics


  Also referred to as classical economics, focuses on understanding how individuals and societies make decisions about allocating scarce resources
• Traditional Economics

  • Focus on efficiency - primary goal is to achieve optimal allocation to maximize economic output
  • Rational actors - Traditional models assume individuals are rational decision-makers who act in their own self-interest to maximize utility
  • Equilibrium analysis - Trad economics often relies on models that analyze markets at equilibrium, where supply and demand are balanced
  • Limited role of govt
  • Focus on short-term
• Economic Development

  • Long-term perspective - development is a long-term process, requiring sustained investments in education, infrastructure, & social programs to ensure long-term growth
  • Equity and Inclusion - involves addressing issues like income inequality & social justice
  • Sustainability - development should occur without compromising the ability of future
• Examples of Economic Development Initiatives

  • Investing in education and healthcare to improve human capital
  • Building infrastructure like roads, bridges
  • Promoting policies that encourage entrepreneurship and innovation
  • Developing social safety nets to protect vulnerable populations
  • Investing in renewable energy sources and sustainable resource management
• Objectives of Economic Development

  • Improved living standards
  • Empowerment
  • Reduced poverty
  • Increased capabilities
  • Environmental sustainability
• Investing in education leads to a more skilled workforce
• Sustainable development practices protect natural resources
• Social safety nets empower vulnerable populations
• Why is there a need for measuring development

  • Tracking progress - Identifying successes and gaps
  • Setting goals & targets - Guiding policies and monitoring progress
  • Promoting accountability - Transparency and benchmarking
• GDP has limitations as it doesn't capture factors like income distribution, social well-being, or environmental impact
• Development measurement is an evolving field, and it's crucial to regularly assess the effectiveness of existing measures and adapt them to changing contexts
• Economic Indicators for Development Measure

  • Overall Economic Growth and Activity
  • Human Development and Well-being
  • Income Distribution and Poverty
  • Sectoral Development
  • Infrastructure and Investment
  • Sustainability and Environmental Impact
• Sustenance


  Refers to sustaining the basic needs for human survival such as food, shelter, security and health
• Self-esteem


  Each of us has the right to sense self-worth or self respect but these self-esteem we desire are bounded with wealth we have
• Freedom


  Refers to the equality that people can get such us opportunities and free from discrimination
• Historically, women are the servants and makers of the house with limited works, abilities and little to no knowledge
• Contemporarily, women are empowered, career driven and generate income. They are now treated as something that brings change, but above all brings development
• The Role of Women

  • Family and Community
  • Education and Skills Development
  • Leadership and Management
  • Innovation and Research
  • Advocacy and Influence
  • Economy
• Women who contributed to improving human well-being

  • Cleopatra
  • Hypatia
  • Esther Takeuchi
  • Marie Curie
  • Virginia Woolf
  • Mother Teresa
  • Josephine Cochrane
• Challenges Faced by Women

  • Gender Discrimination
  • Violence Against Women