OverviewDevelopment Economics is a sub-field of economics that focuses on the unique problems of poor countries. In the course we will use economic analysis to understand the structure of poor economies and the behaviour of individuals within them. The goal is to better understand why the world looks the way that it does so that one can make more informed opinions and decisions about policies meant to improve global welfare. The topics considered in the module will include:
• The development gap in the world economy and the measurement of poverty
• Characteristics of underdevelopment and structural change
• Models of the growth and development process
• The role of agriculture and surplus labour in the development process
• Dualism and vicious circles of poverty
• Trade and Development
This module appears in:
This module is an elective for all Single and Joint Honours degree programmes in Economics.
This module is not available to students across other degree programmes in the University.
Method of assessment
In Course Test (45 minutes) (10%)
Problem sets (5%)
Group presentation (5%)
Examination (2 hours) (80%)
A P Thirlwall, Economics and Development: Theory and Evidence (9th ed), Macmillan, 2011
R Day, Development Economics, 1998
A V Bannerjee, R Benabou, D Mookherjj, Understanding Poverty, 2006
By the end of the module, you will be able to:
* demonstrate knowledge and understanding of issues related to the divisions of the world economy between rich and poor countries.
* demonstrate critical understanding of the prominent hypotheses regarding how those divisions arose and what forces perpetuate them.
* understand and evaluate how factors such as agriculture, industry, investment performance, population growth, domestic finance, international finance and trade may explain the economic performance of countries.
* understand how to use economic models to think about problems in development.
* analyse and interpret economic data to test economic theories and guide economic policies.
* critically assess development-related policy debates in the media between politicians.