Learning outcomes of the course unit
This part of the course explores some of the major topics in development economics, looking at both empirical and theoretical points of view. It begins by defining the concepts and measurement of development, then it proceeds with a more detailed exploration of inequality, poverty, and population growth, pointing out their interconnections with economic development, and the possibility of uneven growth paths. Along these lines, to understand the structural transformation that accompanies the development process, rural-urban interaction and migration are explicitly introduced. Finally, it looks at the markets and institutions that deeply influence the lives of people in developing countries, stressing the role of markets failures and their interrelations. Before concluding, it goes back to aggregate analysis, dealing with the role of initial conditions for development.
It focuses on history versus expectations, analyzing the role of complementarities and increasing returns.
Very basic knowledge of economics, mathematics and statistics. More advanced analysis will be developed directly in classroom.
Course contents summary
Concepts and Measures of Development.
Inequality and Development.
Poverty and Development.
Population Growth and Development.
Rural-Urban Interaction and Migration.
Markets in Developing Countries: Land, Labor, Credit, and Insurance.
History, Expectations, and Development.
A selection of chapters from Debraj Ray, Development Economics, 1998, Princeton University Press.
Assessment methods and criteria
Written final exam.