Module Title:             Development Economics

Programme:               BA Economics +, BA (Hon) Economics

Module Code:            ECR 302

Credit Value:             12

Module Tutor:           Dr. Anil Dogra

General Objectives:

The academic aim of this module is to study the evolution of development theory and how it has affected the development policy in the post colonial period, and also to strengthen the ability of the learners to critically examine the usefulness of the alternative theories in explaining the development problems that a country faces and to find appropriate solution to solve these problems. Furthermore, we emphasize to promote awareness of particular structural features and about the difficulty they create for the practitioners and decision makers.

Learning Outcomes

On the successful completion of the module the students will be able to:

·         Discuss economic social and political characteristic of developing countries.

·         Critically examine the main theoretical arguments in the developmental debate.

·         Analyze development problems and policies

·         Identify scopes and limitations of state intervention and market play.

·         Explain the facts about agricultural markets in developing countries

·         Apply theoretical and empirical economic analysis to the study of agricultural markets in developing countries

·         Develop well-articulated views on policy toward agricultural markets in developing countries and conflict

Learning and teaching approach:

Lectures (60 hours)

Tutorials (15 hours)

Seminars (15 hours)

Case studies and assignments (20 hours)

Debate (10 hours)

Assessment

Semester end examination (50%)

Projects and Assignments presented in seminars (40 %)

Debate and discussions (10 %)

Pre-requisite: None

Subject Matter

1.      Introduction and overview of Economic Development                           (5 Hours)

Different approaches to the meaning and scope of development: Different measure of economic development: Common characteristics and diversity amongst the poor and emerging economies.        

2.      Early development theory                                                                         (10 Hours)                                            

Linear stage theories of economic development: Rostow model of economic development: Gerchenkron model of economic development, Harrod Domar model of economic development Structural change models and theories of dualism: Lewis model of economic development; Ranis-Fei and Todaro model of economic development                                

3.      Dependency theory and development                                                      (12 Hours)                

Marxists and Neo-Marxist perspectives of development, Contributions of Baran, Frank, and Dos Santos in dependency theory. The Neo-Classical counters revolution                                            

4.      Development Problems and Policy Issues                                                (15hours)

Inequality and poverty, Growth and Inequality, Poverty Measurement, Characteristics of Poverty Groups, Policy options, Migration and urbanization, urban informal sector and Urban Unemployment. Late industrialization and World Bank role, “New” growth theory, market failure and institutional economies, Focus of contemporary development theory                                                                                   

5.      Role of state in developing countries                                                       (8 hours)

Government planning and institutional failure, Decentralization and people’s participation, and issues of good governance.

6.      Recent Development Issues

Rising oil price, climate change and its impact on environment, Unemployment, poverty and Inequality, conservation vs economic development, national account and environmental resources.(Case study: Hardin-Tragedy of Commons) (10 hours)

Reading List:

Essential Reading:

1. Todaro, M. P., & Smith, S.C. (2009). Economic development. Harlow: Addison-Wesley.
2. Meier, G. M., & Rauch, J.E. (2000). Leading issues in economic development. New York: Oxford University Press.
3. Dasgupta, P., & Mäler, K.G. (1997). The environment and emerging development issues. New York: Clarendon Press.

4.      Hardin,  G. (1968). The Tragedy of the commons. Science, New Series, 162 (3859), 1243-1248. (Case Study).

Suggested Reading:

1.      Cypher, J. & Dietz, J. (1997). The Process of Economic development. Routledge.

2.      Aggarwala and Singh (1970). The economics of underdevelopment. (2^nd edn.) Oxford University Press

3.      Ray, D. (1998). Development Economics. Princeton University Press.

4.      http://www.economicsnetwork.ac.uk/teaching/Case%20Studies/Development%20Economics

5.      http://www.jstor.org/stable/3348096

6. http://www.undp.org.bt/assets/files/publication/Macroeco_cs_for_Bhutan.pdf

7.      http://web.worldbank.org/WBSITE/EXTERNAL/TOPICS/EXTURBANDEVELOPMENT/EXTLED/0,,contentMDK:20196572~menuPK:402644~pagePK:148956~piPK:216618~theSitePK:341139,00.html

8.      http://www.mah.gov.on.ca/AssetFactory.aspx?did=9784

9.      http://wps.aw.com/wps/media/objects/277/284582/todarocasestudies.pdf

(Updated June, 2013)