What is Development economics?
{{no sources|date=August 2019}} Different countries have economies that are in different states of development. '''Development economics''' is a branch of [[economics]] that looks at ways on how to improve economic development. Very often, it is used in [[developing country|developing countries]]. In these context, many factors that are outside pure [[microeconomics]] hinder [[economic development]]: A developing country may have a low [[literacy]], or a high [[infant mortality]]. Plans to improve economic development in such a country therefore also needs to provide a solution to these problems (which are not economic ones). Economic development generally is measured by the [[human development index]], [[life expectancy]] etc.These are the tools which institutions like IMF and [[world Bank]] use to classify a country as a developed, underdeveloped or newly industrialized emerging economies. ==Related pages== *[[Prebisch–Singer hypothesis]] [[Category:Subfields of economics]]