by Summary:
Teaching Latin American Economic Development. Asked students to match the list of countries below with the graph representing GDP per capita in 2016 (source here). List of countries: Argentina, Brazil, Chile, China, Congo, India, Mexico, Norway, Saudi Arabia, and the US. The point I always try to make is that Latin American economies are (most of them) middle income countries, all the ones in the sample with higher GDP per capita than China. That's often a surprise for many students, which think that China is an advanced economy (yep, grows fast, less now, but it's still a middle income economy, and will probably remain so in the foreseeable future). Also, Saudi Arabia has a very high level of GDP per capita, but it's not really a developed economy. An advanced economy produces more than commodities (oil in this case). So what the economy produces and exports matters.PS: Solution in the comments section.
Topics:
Matias Vernengo considers the following as important: Economic Development, Latin America
This could be interesting, too:
Teaching Latin American Economic Development. Asked students to match the list of countries below with the graph representing GDP per capita in 2016 (source here). List of countries: Argentina, Brazil, Chile, China, Congo, India, Mexico, Norway, Saudi Arabia, and the US. The point I always try to make is that Latin American economies are (most of them) middle income countries, all the ones in the sample with higher GDP per capita than China. That's often a surprise for many students, which think that China is an advanced economy (yep, grows fast, less now, but it's still a middle income economy, and will probably remain so in the foreseeable future). Also, Saudi Arabia has a very high level of GDP per capita, but it's not really a developed economy. An advanced economy produces more than commodities (oil in this case). So what the economy produces and exports matters.PS: Solution in the comments section.
Topics:
Matias Vernengo considers the following as important: Economic Development, Latin America
This could be interesting, too:
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Teaching Latin American Economic Development. Asked students to match the list of countries below with the graph representing GDP per capita in 2016 (source here). List of countries: Argentina, Brazil, Chile, China, Congo, India, Mexico, Norway, Saudi Arabia, and the US.
The point I always try to make is that Latin American economies are (most of them) middle income countries, all the ones in the sample with higher GDP per capita than China. That's often a surprise for many students, which think that China is an advanced economy (yep, grows fast, less now, but it's still a middle income economy, and will probably remain so in the foreseeable future). Also, Saudi Arabia has a very high level of GDP per capita, but it's not really a developed economy. An advanced economy produces more than commodities (oil in this case). So what the economy produces and exports matters.
PS: Solution in the comments section.