About Development Economics
This course is designed to acquaint students with economic thinking towards achieving economic development and to broaden their understanding on the various features of developing countries, the models of growth and development theories which can have valuable contribution in understanding the development processes in most developing countries. The issues of poverty and inequality will be addressed and the factors which determine development of nations will also be discussed with a series of lectures, discussion and group presentations. In addition, this course is designed to introduce students with the Meaning and Measurement of Economic Development ( Growth and development, Current interest in development economics, Measurement and international comparison of Growth and Development, The physical quality of life index, Human development index and poverty index), Growth Models and Theories of Development (Growth Models –Harod Domar, Solow Theories of Development-surplus labor theory, Dualistic theories (social, technological, financial, and geographical), The process of cumulative causation, a model of low equilibrium trap, The big push theory), Determinants of Economic Development (Traditional Approach (Economic factors) to development.-Natural resource, Capital accumulation, Organization, Technological progress, division of labor and scale of production, Institutional Approach to Development- Type of government, Institutions, social structure of population, human capital and cultural traits) and education and development.