BAEcon Development Studies

To familiarise students with models and perspectives which have been used to analyse the process of growth and structural transformation in developing economies. Some basic policy problems facing less developed countries are also introduced. A critical understanding of how different economists have analysed the development process will be expected.

At the end of this course unit it is expected that students will be able to demonstrate both an understanding of and ability to critically engage with models and perspectives which have been used to analyse the process of growth and structural transformation in developing economies. Students should also appreciate and be able to address some basic policy problems facing less developed countries. Competing perspectives are part of
this course and ability to understand these and take sides in debates is expected.

Pre-requisites: (ECON10171 or ECON10221 or ECON10331) and (ECON10181 or ECON10241 or ECON10252)

(ECON10171 OR ECON10221 OR ECON10331) AND (ECON10181 OR ECON10241 OR ECON10252)

To familiarise students with models and perspectives which have been used to analyse the process of growth and structural transformation in developing economies. Some basic policy problems facing less developed countries are also introduced. A critical understanding of how different economists have analysed the development process will be expected.

At the end of this course unit it is expected that students will be able to demonstrate both an understanding of and ability to critically engage with models and perspectives which have been used to analyse the process of growth and structural transformation in developing economies. Students should also appreciate and be able to address some
basic policy problems facing less developed countries. Competing perspectives are part of this course and ability to understand these and take sides in debates is expected.

Introduction

Characteristics of Underdevelopment (C3, Thirlwall)

Basic Needs (C3, Thirlwall)

Structural Change (C3, Thirlwall)

• Stages theories.
• Industrialisation and Growth:Kaldor's "growth laws".

Theories of Economic Growth (C5, Thirlwall)

• Classical Smith Ricardo Malthus and Marx.
• Keynesian: Harrod-Domar.
• Neo-classical/Endogenous.

Land, Labour and Agriculture (C6, Thirlwall)

• Role of Agriculture in Development.
• Lewis Model (and Lewis (1954)).

The Big Debate

• Resource Allocation in Developing Countries
• Rival views on the Role of the State and Market (C10, Thirlwall)

Synchronous activities (such as Lectures or Review and Q&A sessions, and tutorials), and guided self-study

 

MCQs in the lecture slot and a mock exam conducted in a lecture slot towards the end of the course. The main forms of feedback on this course are the scores from the MCQs and the mock exam - responses to issues raised on the MCQ sheets and the Mock Exam, office hours and ad hoc meetings with academic staff, discussions in tutorials or at the end of the lecture and via the discussion group in blackboard.

The course uses:

• Thirlwall, A.P. and Penélope Pacheco-López (2017) Economics of Development: Theory and Evidence. 10th edition.
• BUT earlier editions are also fine (Thirlwall, A.P. (2011), Economic and Development, 9th edition, Palgrave: Macmillan and eds 6-8 entitled Growth and Development, Palgrave: Macmillan).

We will also read:

• Lewis, W. Arthur (1954) Economic Development with Unlimited Supplies of Labour, Manchester School, May Volume 22, Issue 2, pages 139-191.

Some other articles and books will be referenced in the lectures. These may be made available or referenced on the Blackboard site.

For every 10 course unit credits we expect students to work for around 100 hours. This time generally includes any contact times (online or face to face, recorded and live), but also independent study, work for coursework, and group work. This amount is only a guidance and individual study time will vary