Structuralism Reflectively, the focal point of analysis functions on the transformation of an economy of a nation. In most cases, structural transformation is often as a result of policy adoption by a country to address development needs. The policies are in the form of direct or indirect government intervention through the creation of tariffs and local industry protection, among others. For instance, the introduction of tariffs on imported goods or services may cushion the local industries from unfair competition and give them opportunities to gain from the stimulated internal market. Although several approaches may be adopted in exercising structural transformation, the underlying rationale of any activity is to create economic units that are self-sustaining in growth over a specific period (Contreras 2). Neo-Marxism As discussed in the class, this is one of the most controversial theories of economic development. This theory is as a result of modifications of the Marxist philosophy. The theory is based on the study of behaviour of economic units. It argues that the surplus-value currently owned by the developed economic units was extracted from developing economic units. For instance, a developed economic unit may acquire raw materials from a developing economic unit at a very low price and resell the finished product at an exorbitant price after small value addition. The continued interaction between the two economic units will result in misery and chronic poverty in the developing economic units (Contreras 4). Finally, Neo-Marxists believe that it was nearly impossible for the developing economic units to experience industrialization since the developing countries were stuck in the imbalanced economic relationship with the developed countries (Contreras 4). Neo-Liberalism This theory functions on the pillars of production factors dependency and product value. The notable contributors to the development of the model include David Ricardo and Adam Smith. Basically, the theory supports the need for market liberalization; protecting the free markets from inefficiencies that might be brought by government interventions. Free trade as a result of the balances from the ‘invisible hand’ will ensure that ultimate benefits are distributed at the society level as opposed to the individual level. The notable implication of the theory may be seen in the structural adjustment programs such as privatisation, fiscal austerity, and trade liberalization. According to this model, regulating and minimizing government intervention in the local economic units will eventually phase out inefficiencies associated with market function interference (Contreras 5). Focus of development The concept of development has attracted different reaction since “it can be understood as a process likely to happen with economic growth or it could be understood as a dynamic socio-economic process for empowering poor and excluded people” (Cassidy 28). Though development is a continuous process, it is characterized by the motivation to positively improve the lives of those wallowing in poverty (Dreze and Sen 13). The focus of development should inspire change and betterment of the target groups. Hence, unlimited access to improved infrastructure is the basis of development that contributes to competitiveness, efficiency, growth, and increased capabilities of the target group. In the process, social exclusion and inequality are