ESSENCE OF DEVELOPMENT ECONOMICS

Abstract

Annotation. Development economics is a part of economics that focuses on the practical utility of economic theory. Its origins date back to the 16th century and its evolution has been constant ever since, absorbing elements of nationalism, classical economics, Marxism, institutional theory, etc. However, understanding the essence of development economics is essential to understand and deepen how it has progressed and how it is a branch of economics that will continue to evolve as long as it maintains certain methodological principles. This research work is an introduction to the essence of this branch of economics whose particularity is its practical approach to dealing with real world problems and leaves theoretical purity in the background.