1. INDICATORS OF ECONOMIC DEVELOPMENT
How do we measure it?

2. INDICATORS OF ECONOMIC DEVELOPMENT
Post-Industrial
Agricultural Industrial
Service

3. Comparing GDP by Sector

4. INDICATORS OF ECONOMIC DEVELOPMENT
Post-Material/Post-Modern
Values emphasized
by a society
Stages
Pre-Modern
Basic Survival
Modernism (Materialism)
Values of Industrialism
Materialism
Rationalism and Reasoning

5. Post-Materialism/Post-Modernism
Set of values that emphasize “Quality of Life” in addition to material gain.
Health Care
Environment
Education

6. GROSS DOMESTIC PRODUCT per capita
The total value of goods and services produced by an economy, divided by population of the country.
GNP: Includes income earned by citizens outside of the country.

7. INDICATORS OF ECONOMIC DEVELOPMENT
Human Development Index
Measures overall well-being of society:
Health, education, & income.
1= Very Good
0= Very Bad

8. Human Development Index, 2011
1. NORWAY
4. UNITED STATES
187. Dem. Republic of the Congo
Life Expectancy
81 Years
78.5 Years
48 Years
Years of Schooling
12.6 Years
12.4 Years
3.5 Years
GDP per Capita
$47,676
$41,761
$290
HDI
0.943
0.910
0.286
2. Australia Netherlands

9. Human Development Index

10. High level of economic development
Post-Industrial
Post-Modern/Post-Material
High GDP per capita
High score (close to 1) on HDI