Freud's psychoanalytic theory views personality development through psychosexual stages from infancy to adolescence including oral, anal, phallic, latency, and genital stages. During the phallic stage, boys experience the Oedipus complex and girls the Electra complex. Erikson's theory emphasizes that development occurs within social contexts like family and school, and stresses the importance of satisfying needs, encouraging independence, acquiring skills, and coping with identity struggles during key stages.