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Understanding Models of Development and Trade

Explore key concepts in development economics such as Gross Domestic Product, Rostow Development Model, and Fair Trade vs. Free Trade, along with examples of countries and indices. Learn the characteristics of different world models and trade strategies to enhance your knowledge. Helpful resources and quizzes included.

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Understanding Models of Development and Trade

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  1. Development By: Erin Kay

  2. Key Information • Gross Domestic Product- amount of goods and services a country produces in a year, divided by population to get gross natural increase. • Gross National Product- amount of goods and services they export in a year.

  3. Self-Sufficient Model of Development- LDC closes itself off from trade and other countries and develops its own economy (lack of competition) -Only 1% of people practice this • International Trade Model of Development- LDC focuses on one industry to trade with. -Disadvantages: problems focusing on food

  4. Wallerstein World Model- Consists of core, semi-periphery, and periphery -Exploration and colonialism Core- Most developed -Have strong central governments with military support -Agricultural workers move to growing cities work in industry -International trade works in favor of core countries Semi-Periphery- Middle developed -In between Core and Periphery Periphery- Least developed -No central, strong government -Raw materials sent back to the core for consumer markets -Inexpensive labor for extracting resources and for agriculture

  5. Rostow Development Model- how a country develops industry 1- Traditional Society 2- Pre-Industrial 3- Take-off 4- Industrial/Service 5- Mass Consumption

  6. Experience of Four Dragons and Middle East with International Trade Model -Singapore, Taiwan, Hong Kong, South Korea Found clothing and electronics industry • Very Successful Disadvantage: Importing their food

  7. Human Development Index- Composite statistic of life expectancy, education, and income to rank a country based on human development. 0-1 0- not developed 1- perfect country

  8. Gender Empowerment Index (also known as Gender Empowerment Measure or GEM)- Measurement of female power based on their roles in society and their income. • Special Economic Zones- Geographical areas where Government actually offers special trade incentives to encourage development. • Examples: Tax breaks, etc.

  9. Fair Trade vs. Free Trade Free Trade is trade based on the unrestricted international exchange of goods with tariffs used only as a source of revenue. • Results in lower prices for the consumer. Fair Trade is to trade in conformity with a fair-trade agreement. • Promote good conditions with partners, etc. http://www.youtube.com/watch?v=8JfGki00T0c

  10. Flash cards on Development http://quizlet.com/20723071/ap-human geography-chapter-9-test-flash-cards/ Online test for development http://www.softschools.com/quizzes/ap_human_geography/ap_human_geography__development/quiz5248.html

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