Summary of Economic Development

Economic Development is an introductory text to macroeconomics written by Michael P. Todaro and Stephen C. Smith. The book provides an in-depth analysis of the theories, models, and evidence surrounding economic development with the aim of offering a broad perspective on the process of economic growth and development. The authors thoroughly examine the major issues, such as the classical debates about population growth, inequality, and the economics of poverty and international debt. They also explore the role of public policy, comparative economic systems, development planning, trade issues, and technology in contemporary economic development. The book gives an in-depth discussion of the latest empirical evidence and research methods, concluding with a comprehensive set of summaries and recommendations for governments and individuals.