Development and underdevelopmint issues of measurment and defintion - Research Paper Example

The concept of Human Development Index (HDI) is also covered in order to guide the developing countries on the essential factors that they should consider during the measurement of human development. The macroeconomics and microeconomics challenges that are faced by the developing countries have jeopardized the provision of basic services including education and health. Due to the lack of adequate resources as a result of inadequate technology and innovation, developing countries have continued to rely heavily on developed states both in terms of financial resources and human capital.

Even though the financial assistance has reasonably addressed the economic challenges faced by the developing countries, the amount of international debts has gone up leading to more economic problems especially during economic crisis. Some of the major macroeconomics problems faced by the developing countries include high rate of unemployment, high taxes, decreased production of goods, poor infrastructure as well as misappropriation of financial resources among others. This paper seeks to discuss development and underdevelopment issues that affect developing countries Economics development entails the study of macroeconomics and microeconomics factors that leads to an economic growth.

Other aspects that are covered when analyzing the economic development of a developing country include education, health and the conditions of the work places among other issues (Frans, 2002). In addition, economics development involves establishment of methods and policies that a developing country should adopt in order to increase the national economic output. The policies that are adopted both at the domestic and international levels, may involve qualitative and quantitative approaches. One of the major aspects that are essential in economic development as compared to other fields of economics is that it incorporates both political and social factors that affect the lives of