FINAL TERM COVERAGE

IN ECONOMICS
DEVELOPMENT
Prepared by
Moamar Ismula
Gerome Centeno
Keen John Mata
INDUSTRIALIZAT
ION AND THE
THIRD WORLD
COUNTRIES
 INDUSTRIALIZATION
It is the period of social
and economic change
that transforms a
human group from an
agrarian society into
an industrial one.
 INDUSTRIALIZATION

It is a part of a wider
modernisation process,
where social change and
economic development
are closely related with
technological innovation.
THIRD WORLD COUNTRIES
Third World is a term
originally used to
distinguish those
nations that neither
aligned with the West
nor with the East
during the Cold War.
THIRD WORLD COUNTRIES
These countries are
also known as the
Global South,
developing countries,
and least developed
countries in academic
circles.
THIRD WORLD COUNTRIES
Development
workers also call
them the two-
thirds world and
The South.
STARTING THE
PROCESS OF
MODERN
GROWTH
INDUSTRIALIZAT
ION
PRIOR TO THEIR
INDUSTRIALIZATION,
THEY EXPERIENCED
CHANGES SUCH AS;
Economic, Social and
Political institutions
were restricted to
pave the way
towards
There was a
rapid
technological
improvement
.
Factors of production
like capital, labor
and entrepreneurial
scheme were made
to be more
responsive to
industrialization.
Substantial
improvement in
transportation,
communication
and electrification
were undertaken.
Social facilities
and services
were increased.
Agricultural and
commercial
industries
became viable.
 APPROACHES OF
INDUSTRIALIZATION

Developing the
Foundation of
Industrialization
AGRICULTURE
 Raw
Materials
Food
Labor and
Market
CRITERIA FOR
SOUND
INDUSTRIAL
PROJECTS
ECONOMICALLY
SOUND AND
FEASIBLE
STRESSES
LABOR-
INTENSIVE
INDUSTRIES
IT BENEFITS
SEEP DOWN TO
THE LEVEL OF
THE MASSES
EASILY MAKES
PROFIT
THERE IS A
READY MARKET
FITS TO THE
TOTAL
ECONOMIC
DEVELOPMENT
PROGRAM
PROBLEMS OF
INDUSTRIALIZATI
ON
THEY NEED MASSIVE CAPITAL TO PUSH
VIGOROUSLY THEIR BID FOR INDUSTRIALIZATION
HIGH INTEREST RATES OF INTERNATIONAL
FINANCIAL INSTITUTIONS
THE VERY KEEN COMPETITION IN THE WORLD
MARKET FOR INDUSTRIAL PRODUCTS
SOUTH ASIAN CLAMOR FOR INDUSTRIALIZATION
INDUSTRIALIZATION AND THE THIRD WORLD COUNTRIES
THE INDUSTRIAL REVOLUTION PAVED THE WAY FOR
THE INDUSTRIALIZATION OF WESTERN COUNTRIES.
THE RAPID INDUSTRIALIZATION OF THE SOVIET
UNION THROUGH CENTRAL PLANNING
THE DECLINE IN THE DEMAND FOR RAW MATERIALS AND
OTHER AGRICULTURAL PRODUCTS IN THE WORLD
MARKETS
THE FAST POPULATION GROWTH AND AN
INCREASING RATE OF HUMAN UNEMPLOYMENT
 LET’S CONTINUE
REGARDING THE FINAL
TERM COVERAGE IN
ECONOMICS
DEVELOPMENT BY THE
NEXT REPORTER!!!