As a former student majoring in economics of development studies, economic development issues and economic development is always interesting to me to examine my own understanding. Since my students have a penchant for not believing what was said by the lecturer before I understood with the understanding that I have. Therefore, I will try to formulate the notion of economic development based on various sense I get from various sources.
Economic development is one part of the discussion on the study economics specializing in development issues has been, is, or will occur in developing countries. Thus, the study development economics is devoted to learning about the economy in developing countries that aim to improve the level of welfare and economic prosperity in the developing countries themselves. Economic development in developing countries typically walk slowly and encountered many obstacles that cause delay. Therefore, the study development economics plays an important role as a means of analyzing and investigating the factors inhibiting economic development and direct it to find the solution of various problems that lead to economic development of developing countries lagging far behind the developed countries.
Meanwhile, economic development itself has a sense of the efforts undertaken by countries in the world in order to improve the economic well-being and prosperity of its people. In other words, economic development is an economic activity which aims to improve living standards in a country. Whether it’s improving people’s incomes, create employment, or other economic purposes.