Economic development affects the living standards and options of people. One old question in economic development states that “why some countries grow much faster than others”. This is perhaps the central question in the study of development, and we approach it by reviewing and explaining the logic behind the most important arguments that have been advanced to account for differences across countries in rates and levels of economic development.
While economic growth is an important issue in economic development, there are many other interesting issues in economic development. We will also study a variety of issues about economic development.