Advanced development economics is the study of economic activity at the macro level and the micro level. This discipline examines development at the national, regional, community, international and institutional levels and attempts to make sense of the complexities that occur as economies mature and develop.
The term “advanced development” refers to the fact that this discipline attempts to go beyond the conventional methods used in economics to explore how human activity and development are affected by institutions and policies, which can affect the overall efficiency and effectiveness of a country's economic system. In addition, advanced development economics seeks to analyze how development policies affect a country's internal environment and economy. The study of advanced development economics is very much about the relationship between development and macro economics.
Development economics, as its name implies, is a discipline that attempts to understand development. It takes into account the social and political aspects of development, such as education, politics, economics, and development. A major focus of advanced development economics is understanding how these factors interact with one another in order to create a more coherent model of development. There are many different models that have been developed in order to understand development. Some models, such as the theory of cumulative advantage, seek to explain the nature of accumulation of wealth in the long run while others, such as the theory of sustainable development, an attempt to explain the ways that governments and the private sector can work together in order to promote development over a period of time.
Advanced development economics, in its most basic form, focuses on the macro aspects of development. A major focus of advanced development economics is the creation of an international development community that can coordinate the activities of many countries. One example of this is the Millennium Development Goals (MDGs) which aim to improve health, improve education and increase income and a number of other aspects of development. The goals are set in relation to each other and are not done in a vacuum, rather they are connected to the other as well as to the state of an individual country.
Another aspect of development economics that is very important is what is called the 'demand side' theory of development. This theory seeks to find a way to increase the demand for a country's goods and services because it believes that when a country is able to provide a service or product that a large market exists that can be reached through demand.
The theories and concepts involved in advanced development economics are very complex and need a great deal of research to understand, so there is much work to be done to learn the theories that are used in this field of economics. If you are interested in this type of economic study, there is a lot that is available online as well as there is a lot of material available in books and journals as well as in seminars and lectures that explains the concepts and theories involved in this particular field of economics.