Economics(Paper-4) - Shivaji University

UNIT - 2
Theories of Economic Growth and Development
Index :
2.0 Objectives
2.1 Introduction
2.2 Subject Matter
2.2.1 Rostow’s Stages of Economic Growth
2.2.2 Lewis Theory of Unlimited Supplies of Labour
2.2.3 Rodan’s Theory of Big Push
2.2.4 Myrdal’s Theory of Circular Causation
2.3 Summery
2.4 Glossary of Terms
2.5 Exercise
2.6 Reference Books
2.0 Objectives
1. To study Rostow’s stages of economic growth.
2. To study Lewis theory of unlimited supply of labour.
3. To study the Rodan’s theory.
4. To study circular causation theory.
2.1 Introduction
Economic development is the process whereby the real per capita income of
country especially underdeveloped countries is more anxious about the attainment of
economic development. But it is difficult, but not impossible. Using natural resources,
manpower and capital available in the country, the country can achieve development
desire. But these factors are not abundant in all countries. Some countries have natural
resources but not skilled manpower and capital, and some countries have capital
but not natural resources abundantly.To use available factors of production, a country
how can achieve desired economic development? The answer of this question has
given many economists. In this chapter some economists’views about development
are given.
123456789012345678901234567890121234567
123456789012345678901234567890121234567
11
123456789012345678901234567890121234567
123456789012345678901234567890121234567
123456789012345678901234567890121234567
123456789012345678901234567890121234567
123456789012345678901234567890121234567
123456789012345678901234567890121234567