Doctoral Thesis / Dissertation from the year 2013 in the subject Economics - Economic Cycle and Growth, grade: 4.0, Atlantic International University (BUSINESS STUDIES AND ECONOMICS), course: Development Studies, language: English, abstract: Development economics entail all the aspects of the developmentprocess especially meant for the developing countries to overcomethe challenges that impede development. This can be througheducation, education and man power development, restructuringmarket incentives, incorporating favorable social and politicalapproaches and practices among other factors.Human beings however need streamlined social and economicsystems that are able to achieve development through majorchanges in social structures, national institutions, cultures andattitudes as well as eradication of poverty, reduction of incomeinequality and acceleration of economic growth. The developingworld needs a multi disciplinary approach and ideas so as to comeout of the economic backward situation. Micheal, P. (2003: 9)describes that because of heterogeneity of the developing world, andthe complexity of the development process, development economicsmust be eclectic, attempting to combine relevant concepts andtheories from traditional economics analysis along with new modelsand broader multi disciplinary approaches from historical and cotemporally development experience of Africa, Asia, and LatinAmerica. Debraj Ray (2007) puts it that development economicsstudies economics of the d...