Module Information

Module Identifier
EC31720
Module Title
Development Economics
Academic Year
2016/2017
Co-ordinator
Semester
Semester 2
Pre-Requisite
External Examiners
  • Mr George Saridakis (Reader - Kingston University)
 
Other Staff

Course Delivery

Delivery Type Delivery length / details
Seminar 5 x 1 Hour Seminars
Lecture 11 x 2 Hour Lectures
 

Assessment

Assessment Type Assessment length / details Proportion
Semester Exam 3 Hours   Unseen written examination  80%
Semester Assessment 1500 word essay  20%
Supplementary Exam 3 Hours   Unseen written examination  Repeat failed element  80%
Supplementary Assessment 1500 word essay  Repeat failed element  20%

Learning Outcomes

On successful completion of this module students should be able to:

* Demonstrate an understanding of the interplay of economic, political and social dimensions of development in the context of the global economy;

* Critically analyse the major macroeconomic and microeconomic problems and policy choices facing developing countries;

* Analyse the theories and paradigms of economic development and the current state of debates in the field;

* Critically analyse the effects of trade reform and its relationship to growth and development in the broader context of the ongoing globalization process;

* Evaluate the role of the state and institutions in the process of economic development;

* Analyse the impact of various sources of development finance on the growth and broader development goals of developing countries;

* Interpret academic literature on development and analyse policy issues pertaining to economic growth and development from a broad and rigorous analytical base.

Aims

Development economics applies economic theory and econometric tools to understand the process of economic development, paying particular attention to historical, institutional and political economy factors in shaping these processes.

Students studying this subject will appreciate the importance of confronting economic theory with empirical evidence and devising concrete policy implications so as to alleviate human suffering.

Development economics applies economic theory and econometric tools to understand the process of economic development, paying particular attention to historical, institutional and political economy factors in shaping these processes.
Students studying this subject will appreciate the importance of confronting economic theory with empirical evidence and devising concrete policy implications so as to alleviate human suffering.

Brief description

This module provides a careful analysis of the theories and policy issues relating to economic development. Topics covered include: the characteristics of developing countries, determinants of economic growth (theory and evidence), poverty and income inequality, role of agriculture and human capital; the ongoing debate on the relationship between trade and economic development, the sources of development finance (microfinance, remittances, aid, FDI) and their impacts on the development process, role of IMF and World Bank with respect to the developing world, the role of and impact of (political) institutions and the state in the process of economic development.

Content

I. Introduction
- Introducing economic development (objectives, goals; indicators; and characteristics of the developing world).

II. Microeconomic Issues
- Human capital (health; education; nutrition; and gender bias)
- Population growth (Malthusian trap; household models; fertility; and the demographic transition)
- Agricultural transformation (agrarian systems; productivity; and the microeconomics of farmer behaviour)
- Poverty, vulnerability and inequality (measurement; Kuznets's Inverted-U Hypothesis; and policy options)

III. Macroeconomic and international issues
- Classic theories of economic development (Harrod-Domer model; Lewis' theory; Neoclassical model)
- Development finance (Microfinance; remittances; FDI; aid)
- Globalisation and trade

IV. Political economy issues
- The role of the state
- Political institutions; corruption; property rights

Module Skills

Skills Type Skills details
Application of Number The course will focus on quantification of conceptual issues that will require economic analysis and some interpretation of the data. It will also allow students to use basic regression analysis and modeling methods, if they wish to.
Communication Participation in discussion-based seminars will enhance the verbal communication skills of the participants. Written communication proficiency will also improve as a result of the compulsory coursework component of the module.
Improving own Learning and Performance The module will provide the students with an opportunity to specialize in development related issues and plan a future career in their area of interest.
Information Technology The existing IT skills of the students will be enhanced because this module requires students to refer to the online electronic journals; consult the websites of international organizations like EBRD, World Bank, UNDP, UNCTAD, and UNHRC; and, present information and data effectively for analysis.
Personal Development and Career planning The module will provide the students with an opportunity to specialize in development related issues and plan a future career in their area of interest. After the completion of the module, the participants will stand a good chance of interning with international organizations, particularly those that design and implement economic policies for developing nations. Besides, there will also be the possibility to intern/train with the NGOs working on development related issues.
Problem solving This module will enhance the ability of students to analyze national economic performance indicators and develop creative thinking approaches to problem solving from a policy perspective.
Research skills This module will plan, develop and sharpen research skills to produce academic reports. Students are expected to undertake additional research on contemporary development related issues to complement the theoretical foundations for effective participation in seminars discussions and coursework.
Subject Specific Skills This module is designed to provide a comprehensive overview of the main issues and problems in developing economies which will allow the participants to pursue their interests in future.
Team work Participation in seminars through individual and group discussions will improve team-working skills of all the participants.

Notes

This module is at CQFW Level 6