Models of Development refer to various frameworks that explain how countries grow economically and socially. These models help policymakers understand the stages of development and the factors that influence progress. Common examples include the Rostow's Stages of Economic Growth, which outlines five stages from traditional society to high mass consumption, and the Harrod-Domar Model, which emphasizes the role of investment in economic growth. Different models also consider the impact of external factors, such as globalization and technology. For instance, the Dependency Theory suggests that developing countries are often hindered by their reliance on developed nations. Understanding these models aids in creating effective strategies for sustainable development.