Economic Development is a broad topic with possibly controversial aspects, such as political economics. To ensure a wide coverage using generally accepted principles, as main textbook for the course, EUCLID has selected the now classic textbook Economic Development by Todaro and Smith. This text covers:
- Principles and Concepts: Economics, Institutions, and Development: A Global Perspective; Comparative Economic Development; Classic Theories of Economic Growth and Development; Contemporary Models of Development and Underdevelopment.
- Problems and Policies: Domestic: Poverty, Inequality, and Development; Population Growth and Economic Development: Causes, Consequences, Controversies; Urbanization and Rural-Urban Migration: Theory and Policy; Human Capital: Education and Health in Economic Development; Agricultural Transformation and Rural Development; The Environment and Development; Development Policy-making and the Roles of Market, State, and Civil Society.
- Problems and Policies: International and Macro: International Trade Theory and Development Strategy; Balance of Payments, Developing-Country Debt, and Issues in Macroeconomic Stabilization; Foreign Finance, Investment, and Aid: Controversies and Opportunities; Finance and Fiscal Policy for Development; Some Critical Issues for the Twenty-First Century.
The objective of this course is to provide a solid theoretical and practical foundation to understand economic development in terms of domestic / international, micro / macro concepts and policies.
Upon completion of this course, the student is expected to able to:
The student is conversant with fundamentals of:
Microeconomics as applicable to EcoDev
Macroeconomics as applicable to EcoDev
Classic theories and EcoDev factors
The role of the market
Cultural and possibly religious factors