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FHUI KKI
1506711755
INTRODUCTION OF ECONOMIC
DEVELOPMENT
Economic Development is a specialized branch of economics studying the
problems of economic development in countries and Economic Development itself is
a process / change continuously the business of the state to enlarge or increase income
per capita
Understanding Economic Development
Explained economic development as a process that causes the per capita income of a
resident of a community to rise in the long term.
Nature of Economic Development or Economic Development
A process which means the changes that occur continuously
Attempts to raise the per capita income, and
An increase in income per capita that should continue in the long term.
Goal of Economic Development or Economic Development
Improve inventory and expand the division / equitable distribution of needed supplies
to live, such as housing, health and the environment.
Lifting the living standards augment and enhance their opinions and provision of
employment, better education, and a greater attention to the cultural values of
humanity, which is solely not only to meet the material needs, but to raise the
awareness of the dignity of both individuals and nationally.
Expanding the reach of social and economic choice for all individuals and national
levels by freeing them from slavery and dependence attitude, not just relationships
with other people and other countries, but also from sources ignorance and suffering.
Syifa Irbah
FHUI KKI
1506711755
Syifa Irbah
FHUI KKI
1506711755
To give you a better idea of what law and economics is about, we turn to some
ex- amples based upon classics in the subject. First, we try to identify the implicit
price of the legal rule that attaches to the behavior in each example. Second, we
Predict the conse- conse- of variations in that implicit price. Finally, we Evaluate the
effects in terms of efficiency and, where possible, distribution.
Example 1: A commission on reforming criminal law has identified cer- tain
white-collar crimes (such as embezzling money from one's employer) that are
typically committed after rational consideration of the potential gain and the risk of
getting caught and punished. After taking extensive testimony, much of it from
economists, the commission decides that a monetary fine is the Appropriate shoulder
ishment for these offenses, not Imprisonment. The commission wants to know, "How
high should the fine be?"
The economists who testified before the commission have a framework for anSwering this question. The commission focused on rational crimes that seldom occur
unless the expected gain to the criminal exceeds the expected cost.
The expected cost depends upon two factors: the probability of being caught
and convicted and the sever- ity of the punishment. For our purposes, define the
expected cost of crime to the criminal as the product of the probability of a fine times
its magnitude.