Bachelor
2023/2024
Development Economics
Type:
Elective course (International Programme in Economics and Finance)
Area of studies:
Economics
Delivered by:
International College of Economics and Finance
When:
3 year, 3, 4 module
Mode of studies:
offline
Open to:
students of one campus
Language:
English
ECTS credits:
4
Contact hours:
56
Course Syllabus
Abstract
The modern world is characterized by enormous heterogeneity of living standards within and across countries. Development Economics is a one-semester course that aims to understand the causes of such heterogeneity, from both theoretical and empirical perspectives, as well as to provide policy recommendations for reduction and elimination of underdevelopment. The course is taught in English. Prerequisites: Microeconomics 1-2, macroeconomics 1-2, calculus.
Learning Objectives
- Upon successful completion of the course, the student will be able to understand and discuss rigorous theories of what causes economic underdevelopment, as well as modern econometric methods of establishing such causes.
Expected Learning Outcomes
- compare and contrast empirical work for the purpose of designing policy for a specific context
- outline the main theories and concepts in development economics
- Select and analyse economic theories relevant for issues in economic development
- summarize and evaluate empirical work in development economics
Course Contents
- 1. Brief overview of the developing world, major stylized facts about poverty
- 2. Theories of economic growth
- 3. The role of economies of scale in economic development: Kremer’s theory of growth, “Industrialization and the big push” (Murphy, Shleifer, Vishny)
- 4. Skill complementarities and Kremer’s “O-ring” theory of economic development
- 5. Inequality and growth: measuring inequality; theory of the effect of inequality on growth (Persson-Tabellini)
- 11. The role and magnitude of corruption in development
- 6. Migration and development: rural-urban migration, international migration, remittances
- 7. Population growth and demographic transition
- 8. Geography and development
- 9. Institutions and development
- 10. Culture and development
- 12. Failure to Develop: The Case of Argentina
Assessment Elements
- Cumulative Final Exam
- Homeworks
- In-Class Presentation
- In-Class Quizes
- Mid-Semester Test
Interim Assessment
- 2023/2024 4th module0.5 * Cumulative Final Exam + 0.16 * Homeworks + 0.06 * In-Class Presentation + 0.06 * In-Class Quizes + 0.22 * Mid-Semester Test
Bibliography
Recommended Core Bibliography
- Acemoglu, D. (DE-588)124929575, (DE-576)173178197. (2009). Introduction to modern economic growth / Daron Acemoglu. Princeton, N.J. [u.a.]: Princeton Univ. Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edswao&AN=edswao.284986100
- Banerjee, A. V., Benabou, R., & Mookherjee, D. (2006). Understanding Poverty. Oxford: Oxford University Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=176370
- Bardhan, P. K., & Udry, C. (1999). Development Microeconomics. Oxford: OUP Oxford. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=267256
- Kaushik Basu. (2003). Analytical Development Economics: The Less Developed Economy Revisited. The MIT Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.mtp.titles.0262523442
Recommended Additional Bibliography
- Economic development, Todaro, M. P., 2015