Different Phases of
Economic Development
Organization and Management
MOST ESSENTIAL LEARNING COMPETENCIES:
At the end of this lesson, the learners
are expected to:
⬗ Explain what is economic development
and its importance in our country;
⬗ Identify the different phases of
economic development; and
⬗ Explore the different criteria in
classifying the phases of economic
development
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( ABM_AOM11-Ic-d-8)
Subject Integration:
⬗ INTRODUCTION TO APPLIED
ECONOMICS -
⬗ -economics as an applied science and
its utility in addressing the economic
problems of the country
⬗ -Phases of economic development
⬗ ABM_AE12-Ia-d-2
⬗ SOCIAL SCIENCE – PHILIPPINE HISTORY
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PICTURE ANALYSIS
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The pictures you’ve seen actually emphasize
developments that are happening within our
economy. We call this Economic
Development.
This is actually a total process which includes
not only economic growth or increase in the
given amount of goods and services produced
by the country’s economy but also considers
the social, political, cultural, and spiritual
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Activity : Let Me Know (10mins)
Group yourselves into 4/line . By group, show how the following
has developed in the Philippines throughout the years.
Brainstorm ideas within the group. Compare the happenings or
developments of each criteria from then and now. Compile your
ideas and share these to the class using any kind of creative
presentation.
1.Means of livelihood
2.Extent of Economic Activity
3. Medium of Exchange
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3 main criteria in classifying the phases of economic
development.
⬗ Means of Livelihood – has changed from the hunting
and fishing phase, to the pastoral phase, handicraft
phase, agricultural phase, down to the industrial phase.
⬗ Extent of Economic Activity – has developed from the
household economy, to the village economy, national
economy, down to the international company.
⬗ Medium of Exchange – has evolved from the barter
economy, to the money economy, and down to the
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money and credit economy.
What are the implications
of these changes or
developments?
(changes in the means of livelihood, economic
activity, medium of exchange)
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What are the implications of
these changes or developments?
The developments in these areas actually imply that there
is a development in the economy. Economic development
actually transitions from one phase to another. These
phases include economic growth, improvement of Human
Development Index (HDI), availability of benefits provided
by science and technology, societal improvement of
opportunities, the general welfare of the members.
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When do we say
that there is
Economic Growth?
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What is Economic
Development?
Economic development is a total process
which includes not only economic
growth or the increase in the amount of
goods and services produced by the
country’s economy but also consider the
social, political, cultural, and spiritual
aspects of the country’s growth.
What are the phases in
Economic development?
(Economic development
phases/stages)
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Economic development phases/stages:
1.Economic growth – (Nation's wealth increases over time)
2. Improvement of Human Development
Index
3. Availability of benefits provided by
science and technology
4. Societal improvement of the opportunities
5. General welfare of its members
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Economic growth - is an
increase in the production
of economic goods and
services in one period of
time compared with a
previous period.
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Human Development Index -
The HDI is a summary measure of
human development. HDI is a
summary composite measure of a
country's average achievements in
three basic aspects of human
development: health, knowledge
and standard of living.
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Societal improvement – is
about improving the well-being
of every individual in society so
they can reach their full
potential.
such as good schools, stable jobs, and
strong social networks are foundational
to achieving long and healthy lives.
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The General Welfare, also
sometimes referred to as the
“public welfare” or the “public
good” or the “common good”,
is the concern of the
government for the health,
peace, and safety of its
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citizens.
What are the 3 criteria in
classifying the phases of
Economic Development?
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3 criteria in classifying the phases of economic
development:
1. Means of Livelihood
a. Hunting and Fishing Phase
b. Pastoral Phase
c. Handicraft Phase
d. Agricultural Phase
e. Industrial Phase
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2. Extent of Economic Activity
a. Household Economy
b. Village Economy
c. National Economy
d. International Economy
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3. Medium of Exchange
a. Barter Economy
b. Money Economy
c. Money and Credit
Economy
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Let us look into the
present situation of
the Philippines. In
terms of the means
of livelihood, where
are we now?
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The means of livelihood in
our country actually differ a
lot. We still have fellowmen
left in the fishing phase,
some in handicraft,
agriculture and some are in
the industrial phase.
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In terms of the
extent of
economic
activity,
where are we
now?
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In terms of the
medium of
exchange,
where are we
now?
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Thanks!
Any questions?
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