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PPT with worked examples to follow

11.3 Economic development
11.3.1 classification of economies in terms of their level of development
11.3.2 classification of economies in terms of their level of national income
11.3.3 indicators of living standards and economic development:• monetary indicators including real per capita national income statistics (GDP, GNI, NNI) and purchasing power parity• issues of comparison using monetary indicators• non-monetary indicators• composite indicators:– Human Development Index (HDI)– Measure of Economic Welfare (MEW)– Multidimensional Poverty Index (MPI)• the Kuznets curve
11.3.4 comparison of economic growth rates and living standards:• over time• between countries

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