Development Economics I

  1. Introduction to Development Economics

Vicious circle of poverty, Characteristics of underdevelopment, Growth and development, Stages of development and structural change, Rostow’s stages of growth, Industrialization and growth, Balanced Growth, Unbalanced Growth 

  1. Theories of Growth

The Harrod-Domar model, The Solow growth model, Convergence: unconditional and conditional converagence. 

  1. Endogenous Growth

Human capital and growth, Population, Technological progress 

  1. Trade and Growth

Closed and open economies, Gains from trade, Export-led growth, Import-substitution vs trade-promotion, Terms of trade 

  1. Financing Growth

Domestic resource, Foreign resources, Dual-gap analysis and foreign borrowing, Foreign debt and development, Balance of payments, International monetary fund. 

References: 

  1. Ray D (1998)Development Economics. Oxford University Press. India.

  2. Barro RJ, Sala-i-martin X. (2004) Economic Growth (2nd Ed.). MIT Press.

  3. Basu K (1997) Analytical Development Economics: The Less Developed Economy Revisited.

  4. Thirlwall AP (2005) Growth and Development: with Special Reference to Developing Economies (8th Ed.). Palgrave Macmillan.

  5. Solow R. (2000) Growth Theory: An Exposition (2nd Ed.). Oxford University Press. USA.

  6. Srinivasan TN. (2009) Trade, Growth and Poverty Reduction: Least Developed Countries, Landlocked Developing Countries and Small States in the Global Economic System. Academic Foundation. New Delhi.