Overview

The increase in the market value of various goods produced and services offered by an economy over a period of time is known as economic growth. It is measured in terms of an increase or decrease in the GDP or market productivity. Economic development is concerned with the different aspects of the society such as employment, education, health, social exclusion, environmental sustainability and safety. Some of the important factors which affect the economic growth of a country are natural resources, capital accumulation, population and technological progress. The aspects of economic development are studied under the subject of development economics. The key areas of research under this subject are geography and development, and economic development and ethnicity. Most of the topics introduced in this book cover new techniques and applications of economics of growth and development. It picks up individual branches and explains their need and contribution in the context of a growing economy. This book attempts to assist those with a goal of delving into the field of economics of growth and development.