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Development Economics

This document outlines the content of a development economics course. The course aims to provide students with an overview of major economic ideas in development thinking and to develop skills for analyzing problems in development economics. By the end of the course, students will have an increased understanding of the development process and constraints facing developing economies. They will also be able to apply economic tools to analyze underdevelopment issues and policies. The course content will cover topics such as poverty, growth, inequality, theories of development, the role of markets and institutions, globalization, and social and environmental sustainability. Students will be assessed through continuous assessments, research, and a final exam.

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217 views

Development Economics

This document outlines the content of a development economics course. The course aims to provide students with an overview of major economic ideas in development thinking and to develop skills for analyzing problems in development economics. By the end of the course, students will have an increased understanding of the development process and constraints facing developing economies. They will also be able to apply economic tools to analyze underdevelopment issues and policies. The course content will cover topics such as poverty, growth, inequality, theories of development, the role of markets and institutions, globalization, and social and environmental sustainability. Students will be assessed through continuous assessments, research, and a final exam.

Uploaded by

titima
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ICB0015: DEVELOPMENT ECONOMICS

1.1 Background and Rationale


Development economics represents one of the most interesting and
important branches of economics touching directly or indirectly upon
economics, politics, and history. This course is aimed at providing students
with an overview of some of the major economic ideas in development
thinking. Unlike the abstract approaches taken by many courses, this course
will focus on developing skills needed to think about economic problems. By
the end of the course, you should be able to find interesting problems in
development economics and approach them in a rigorous and critical
fashion.

1.2 Learning Outcomes


At the end of the course, students will be expected to:
(a) Have an increased understanding of the development process and the
constraints confronting developing economies (and, to some extent, poor
households and individuals)
(b)Have an increased ability to apply economic tools to analyse problems of
underdevelopment and to critically assess the economic policies of
developing economies

1.3 Course Content


1.0 Poverty-Growth-Inequality Triangle
the role of economic development in development and poverty

development economics in international development studies

the evolution of economic development thoughts, with the causes of


poverty;
the stylized facts in economic development (open, closed, and
emerging questions);

determinants of growth (factors that define steady state);

development and equity-- the P-G-I triangle;

development with de-population/aging-population;

measurements and determinants of multifaceted poverty: absolute vs.


relative, objective vs. subjective poverty;

In search of a new development paradigm toward the post-MDGs era.

2.0 Theoretical Arguments


representative theories of development (traditional and new growth
theories);

dualistic development and structural change (rural-urban and/or


agricultural-non-agricultural dichotomy and two-sector models, internal
migration models)

3.0 Markets vs. Controls: Building Institutions for Development


Coordination
guiding developmentmarkets vs. controls (forces of the market, the
role of government in development, good governance);

Washington Consensus, Post WC, and... ;

development, governance, and institutions (with proper understanding


of time frameworks);

Provision of pure and impure public goods (EFA, environment


protection, etc.)

4.0 Globalization and Development


Development with Globalization: Big Picture

Accumulated wisdom and empirical findings on the P-G-I Triangle under


Globalization.

5.0 Socio-Economic Development


sustainable development (the environment and development)

education, HRD, and development

social capital for development

1.4 Assessment
Continuous Assessment 20%
Research 30%
Final Examination 50%

1.5 Prescribed Textbook


1. Ray D. 1998. Development Economics, Princeton University Press

1.6 Recommended Textbooks


1. Banerjee A. & Duflo E. 2012. Poor Economics, Public Affairs, Oxford:
Oxford University Press,
2. Michael P. Todaro, Stephen C. Smith. 2015. Economic Development,
Addison Wesley, Pearson.
3. Banerjee A. and Mookherjee D. 2006. Understanding Poverty,
Oxford University Press.
4. Ray, D. Development Economics. Princeton University Press, 1998.
5. Bardhan, P. 2000. Development Microeconomics. Oxford University
Press: New York.
6. Deaton, A. 1997. The Analysis of Household Surveys: A
Microeconometric
7. Approach to Development Policy. Johns Hopkins University Press:
Baltimore, Maryland.
8. Mookherjee, D. 2000. Introduction to Readings in the Theory of
Economic Development, London: Blackwell.
9. Parente, Stephen and Prescott E. 2000. Barriers to Riches,
Cambridge, MA: The MIT Press.

10. Genicot, G. 2015. Aspirations and Inequality, mimeo, New


York University.

11. Mani A. 2011. Poverty and Aspirations Failure, mimeo,


Tilburg University, CAGE.

12. Shankha C. 2013. Twin Transitions, mimeo, University of


Oregon.

13. Levine, R. 2005. Finance and Growth: Theory and


Evidence, Handbook of Economic Growth, Vol. 1A, Amserdam:
Elsevier, 865-934.

14. Demirguc-Kunt A. 2001. Financial Structure and Economic


Growth: A Cross-Country Comparison of Bank, Markets, and
Development, Cambridge: MIT Press.

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