 Economic growth, the process by which a

nation’s wealth increase over time. Although the

term is often used in discussions of short-term
economics performance, in the context of
economic theory it generally refers to an increase
in wealth over an extended period.
 Growth and Development are used
interchangeably. Growth has the connotation of
simply more of everything, while development is
taken to refer to some qualitative transformation
or structural shift.
 In practice, the development aspect of trade
theory arises from the attempt to address
problems regarded as major significance for the
less development countries of the world economy.
 These have ranged from the infant industry
problem of Hamilton and list to the terms of trade
problem. The insights and concerns of these critics
of orthodox doctrine have led to a number of
attempts, sympathetic and otherwise, to handle
these issues analytically.
 It discusses Arthur Lewis three-good Ricardian
model of the terms of trade and E mmanuel’s
concept of unequal exchange.
 It also reviews neoclassical theory , which contains
the major mainstream literature on growth and
trade, with discussions on comparative statistic,
dynamics, and the concept of immiserizing growth
and foreign investment.

 It also discusses various theoretical aspect of trade

and development issues, including analyses of
infant industry protection, two-gap models, the
open dual economy, and an extensive discussion
of recent work on North-South models.
 Growth, Development and Trade applying
Economic to Improve International Development
and Trade Policies shipping containersDisparities
in the level of wealth and the rate of economic
growth among nations, concern for the well-being
of the poor, and the role of international trade and
technological change have been staples of the
discipline of economics since its inception.
 Our activities in this theme have close links with
the skills and interests of faculty in the
Department of Economics and, more recently,
with faculty in the School of Public Health.

 The high interest in this field makes it one of the

most popular areas of emphasis among the
department’s graduate students.
 Economic Development

 Economic development is the process by which the

economic well-being and quality of life of a nation,
region or local community are improved. The term has
been used frequently in the 20th and 21st centuries,
but the concept has existed in the West of centuries.
 Economis Trade

 Trade is a basic economic concept involving the

buying and selling of goods and services, with
compensation paid by a buyer to a seller, or the
exchange of goods or services between parties. Trade
can take place within an economy between producers
and consumers.
 Questions:

1. This is the process by which a nations wealth increase over time?

2. Are used unchangeably?

3. This is the process by which the economic well-being and quality of life of a nation?

4. This is a basic economic concept involving the buying and selling of a good and
service's?

5. Who is the model of the term of trade?

 Answers:

1. Economic Growth

2. Growth and Development

3. Economic Development

4. Economic Trade

5. Arthur Lewis three-good Ricardian