Fall for 2017-2018
This course provides a framework for understanding the process of development, with an emphasis on the scope for policy to affect this process. The course begins by considering theories and evidence of growth processes as applicable to developing countries, including the role of innovation, structural transformation, geography, political institutions, international trade and capital flows, and foreign aid. Turning then to microeconomic underpinnings of development, the course highlights areas of market failure that provide a rationale for policy intervention in development: in credit, in insurance, in land, and in labor. Specific attention will then be drawn to the accumulation and impacts of human capital – education and health in particular. Finally, the course discusses the political economy of development policy, with a focus on the role of corruption and conflict. Throughout, the course will draw upon historical and contemporary examples from a range of developing countries, and will contrast policy challenges arising in both low income and rapidly growing emerging market economies.
Credits: 3.0
Prerequisites: None
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