macroeconomics m.com sem 2 mumbai university question paper

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 M.com Part 1 (Semester 2)

MACROECONOMIC

Most Important Question Bank for Current Exam


11.   Explain
the concept of Human Development?

ANS:

The
UNDP Human Development Report 1997 describes human
development as “the process of widening people’s choices and
the level of well-being they achieve are at the core of the notion of
human development. Such theories are neither finite nor static. But
regardless of the level of development, the three essential choices
for people are to lead a long and healthy life, to acquire
knowledge
and to have access to the resources needed for a decent
standard of living. Human development does not end there, however.
Other choices highly valued by many people, range from political,
economic and social freedom to opportunities for being creative
and productive and enjoying self-respect and guaranteed human
rights”.


The
HDR 1997 further stated that, “Income clearly is
only one option that people would like to have though an important
one. But it is not the sum-total of their lives. Income is only
a means with human development the end”.

What
we understand from the description of human development
found in HDR 1997 is that human development is a continuous
process. The process becomes developmental only if it increases
choices and improves human well-being. Amongst other choices,
the three most important choices are that of long and healthy
life which is determined by life expectancy at birth, to acquire
knowledge which is determined by education and a decent standard
of living which is determined by GDP per capita. These three
choices are also the components of human development index.
While these three choices are basic to human development, the
choices go beyond these three to include the ever expanding social,
political and economic freedoms that make human life worth living.
Thus, guaranteed human rights become an important aspect of
human development.

According
to Paul Streeton, human development is necessary due to the following reasons:

1. Economic
growth is only a means to the end of achieving human
development.

2.
Investments in education, health and training will increase longevity
and productivity of the labor force and thereby improve human
development.

3.
Female education and development widens choices for women’s
development. Reduced infant mortality rate reduces fertility
rate and reduces the size of the family. It further improves
female health and helps to reduce the rate of growth of
population.

4.
Encroachment upon the natural environment is the result of growing
size of impoverished populations. Problems of desertification,
deforestation, and soil erosion, erosion of natural beauty,
unpleasant habitats and surroundings will reduce with human
development.

5.
Poverty reduction will encourage people to satisfy higher
order needs
like esteem needs and the need for self-actualization. Thus,
human development can contribute to a better civil society,
a credible democracy and social stability and political stability.

 

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