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Key Words Used in Economic Planning Studies

1. Economic Planning: Is a conscious governmental effort to influence, direct and control changes in the principal economic variables of a country, over-time in order to achieve a specific set of objectives.
2. Aggregate Economic Planning: This is a type of development planning which deals with the entire economy. It is used to determine possible growth rates of the national output.
3. Disaggregate Economic Planning; Is a type of planning that involves sector by sector analysis.
4. The first National Development Plan was launched in 1962.
5. The first National Development Plan that was prepared by a professional planning body is the third National Development Plan (1975-80).