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  1. Balance of Payment I | Week 1
    4 Topics
  2. Balance of Payment II | Week 2
    4 Topics
  3. Economic Growth & Development | Week 3
    1 Topic
    1 Quiz
  4. Economic Development Planning | Week 4
    2 Topics
    1 Quiz
  5. International Economic Organisations I | Week 5
    4 Topics
  6. International Economic Organisations II | Week 6
    6 Topics
    1 Quiz
  7. Current Economic Plans | Week 7
    5 Topics
    1 Quiz
  8. Economic Development Challenges | Week 8
    4 Topics
  9. Economic Reform Programs | Week 9
    5 Topics

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The Millennium Development Goals (MDGs) are eight international development goals that all United Nations member states and at least some of the international organizations have agreed to achieve by the year 2015.   The aim of the Millennium Development Goals (MDGs) is to encourage development by improving social and economic condition in the world’s poorest countries, these were officially established following the Millennium summit in 2000, where all world leaders present adopted the United Nations Millennium Declaration.

The secretary – General then Kofi Annan entitled it with the peoples:  The Role of the United Nations in the Twenty-First Century.  The forum met in May 2000 to conclude a two year consultation process covering issues such as poverty eradication, environmental protection, human rights and protection of the vulnerable. In the area of Peace and Security, the adoption of the Brahimi Report was used as the mandate given by the Security Council.

The Millennium Declaration was only part of the origins of the MDGs.   It came about from not just UN but also the Organization for Economic Cooperation and Development (OECD), the World Bank and the International Monetary Fund. The MDGs focus on three major area of Human development (humanity): Boostering human capital, improving infrastructure, increasing social, economic and political rights, with the majority of the focus going towards basic standards of living. These policies should be tailored to individual country’s needs therefore most policy suggestions are general.

Objectives of the Millennium Development Goals (MDGs)

The MDGs were developed out of the eight chapters of the United Nations, signed in September 2000. There are eight goals with 21 targets and a series of measurable indicators for each target.

1. Eradicate extreme poverty and hunger

2. Achieve Universal Primary Education

3. Promote gender equality and empower women

4. Reduce by two-thirds child mortality rates

5. Improve maternal health

6. Combat HIV/AIDS, Malaria and other diseases

7. Ensure environmental sustainability

8. Develop a global partnership for development 

Advantages of Millennium Development Goals (MDGs)

1. It helps human development – by providing a measurement that is not based solely on income, prioritizing interventions, etc.

2. It brings attention to measurements of well-being beyond income and this helps bring funding to achieving these goals.

3. The measurement of human development in the Millennium Development Goals (MDGs) goes beyond income, and basic health and education.

4. Prioritizing interventions helps developing countries with limited resources make decisions about where to allocate their resources through public policies.

5. The MDGs also strengthen the commitment of developed countries to helping developing countries, encourage the flow of aid and information sharing.

6. The joint responsibility of developing and developed nations for achieving the MDGs increases the likelihood of their success, which is reinforced by their 189-country support.

Problems of The Millennium Development Goals (MDGs)

1. Lack of analytical power behind the chosen objectives.

2. It leaves out important ideals, such as the lack of strong objectives and indicators for quality.

3. Lack of a focus on local participation and empowerment (excluding women’s empowerment).

4. It lacks an emphasis on sustainability, making their future after 2015 questionable.

5. They do not capture all elements needed to achieve the ideals set out in the Millennium Declaration.

6. Difficulty or lack of measurements for some of the goals.

7. It has shown that more than half is towards debt relief owed by poor countries, as well, remaining aid money goes towards natural disaster relief and military aid which does not further the country into development.


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