5 Top Reasons for Studying Development Economics: Here we shall concentrate upon that what is the need behind studying development and what is to be studied in development economics: (1) Problem of World Poverty: The discipline of Economic Development starts with the problem of backwardness and international poverty. It means why the world has been divided into two opposite poles; the North and the South. In other words, why the development gap between countries of the world is increasing, i.e., the rich countries are getting rich while the poor countries are getting poor. In this respect, the Lorenz curve and Gini co-efficient like measures are employed to measure international inequalities. Therefore, a moral and ethical justification exists to study development economics as a separate body. In addition to know about world poverty, it is the economic development which helps us to know what is the classification of...
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