PDF INTRODUCTION TO ECONOMIC DEVELOPMENT - Western Cape

INTRODUCTION TO ECONOMIC DEVELOPMENT CONTENT

1

INTRODUCTION

1

2

WHAT IS ECONOMIC DEVELOPMENT?

2

2.1

Defining the Concept of Economic Development

2

2.2

Sustainable Economic Development

2

2.3

Economic Growth Trends in the Western Cape

3

2.4

Future Prospects for Economic Growth in the Western Cape

3

3

WHY ECONOMIC DEVELOPMENT?

4

4

KEY CONCEPTS IN ECONOMIC DEVELOPMENT

6

4.1

Gross Domestic Product (GDP)

6

4.2

Inflation

6

4.2.1

Effects of Inflation on Economic Development

8

4.2.1.1

Distribution Effects

8

4.2.1.2

Economic Effects

8

4.2.1.3

Social and Political Effects

8

4.2.2

Problems Related to Inflation

9

4.3

Interest Rates

9

4.3.1

How Interest Rates are Determined

9

4.3.2

Example of the Effect of Inflation on Interest Rates

10

5

DIFFERENT KINDS OF ECONOMIC SECTORS

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5.1

The Primary Economic Sector

10

5.1.1

Labour Trends in the Primary Economic Sector

10

5.1.2

Agriculture

11

5.1.3

Fishing

12

5.2

The Secondary Economic Sector

12

5.2.1

Prominent Industries in the Western Cape

13

5.2.1.1

Clothing and Textiles

13

5.2.1.2

Metals and Engineering

16

5.2.1.3

Oil and Gas

16

5.2.1.4

Electronics

16

5.2.1.5

Biotechnology

16

5.2.1.6

Crafts

16

5.3

The Tertiary Economic Sector

17

5.4

The Quaternary Economic Sector

19

6

THE ENVIRONMENT AND ECONOMIC DEVELOPMENT

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7

CHARACTERISTICS OF LEVELS OF ECONOMIC DEVELOPMENT

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7.1

Relative Characteristics of Development

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7.1.1

High Levels of Development

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7.1.2

Low Levels of Development

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8

THE LABOUR MARKET AND JOB CREATION

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8.1

Elements of the Labour Market

21

8.2

Demand and labour supply in the Western Cape

22

8.3

Expansion of the Labour Market

24

8.4

The Need for Employment Creation

27

8.5

Challenges Facing the Labour Market

28

9

UNEMPLOYMENT

29

9.1

Reasons Why People are Unemployed

29

9.2

Effects of Unemployment

31

10

POVERTY REDUCTION AND ALLEVIATION

31

10.1

Defining the Concept Poverty

31

10.2

Gini-Coefficient

32

10.3

Poverty Reduction and Economic Development

33

10.4

Poverty Alleviation Strategies

35

11

ECONOMIC INDICATORS

35

11.1

Daily Indicators

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11.2

Trendsetting Indicators

36

11.3

Other Indicators

36

11.4

The Influence of Economic Indicators

36

11.5

Bankers Acceptance (BA) Rate

37

11.6

Stock Exchange Indices

37

12

ETHICS

38

13

INCENTIVES THAT CONTRIBUTE TOWARDS ECONOMIC DEVELOPMENT

39

13.1

Savings and Investments

39

13.2

Long-Term Security

40

14

GLOBAL/INTERNATIONAL ECONOMIC DEVELOPMENT

40

14.1

Global / International Shift to Knowledge-Intensive Activities

41

14.2

Globalisation and Tourism

42

14.3

The Effect of Global /International Participation on Poverty and Inequality

42

14.4

Summary of International Trends

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15

ECONOMIC DEVELOPMENT IN AFRICA

43

15.1

Labour Market Dynamics in Africa

43

15.2

Economic Development in sub-Saharan Africa (SSA)

44

15.3

Poverty and Inequality in sub-Saharan Africa

44

15.4

Economic Growth and Poverty reduction in sub-Saharan Africa

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15.5

Labour Market Dynamics

45

16

ECONOMIC DEVELOPMENT IN THE SOUTHERN AFRICAN DEVELOPMENT COMMUNITY (SADC)

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16.1

Objectives

46

16.2

Trade, Industry, Finance, and Investments

47

16.3

Infra-structure and Services

47

16.4

Food, Agriculture and Natural Resources

48

16.5

Social and Human Development and Special Programmes

48

17

SOUTHERN AFRICAN CUSTOMS UNION (SACU)

49

18

ECONOMIC DEVELOPMENT IN SOUTH AFRICA - NATIONAL DEVELOPMENT

49

18.1

National Policy

50

18.2

Economic Growth

51

18.3

Poverty

51

19

PROJECTS IN ECONOMIC DEVELOPMENT IN THE WESTERN CAPE

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19.1

The RED Door Project

52

19.2

The PLEK PLAN

56

20

CONCLUSION

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BIBLIOGRAPHY

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