Development Economics is a branch of economics that focuses on improving the economic conditions of low-income countries. It studies how economic growth, poverty reduction, and social welfare can be achieved through various policies and strategies. Key areas of interest include education, health care, and infrastructure, which are essential for fostering sustainable development.
This field also examines the role of institutions, governance, and international aid in promoting economic progress. Researchers analyze the impact of factors like trade, investment, and technology on development. Notable figures in this field include Amartya Sen and Jeffrey Sachs, who have contributed significantly to understanding economic development challenges.