ECO6042 - Economics of Development

Objectives:

On successful completion of the module, students will be able to:
Critically discuss modern theories of economic growth and development, and their applications to current development issues such as poverty and inequality.
Explore the problems of governance in developing economies and the issues of international development cooperation.
Analyse and interpret data concerning financing development and international aid and the impact on sustainability and welfre in the short and long run.
Compare and contrast macroeconomic policies for development and the role of governments and markets in developing economies.

Content:

This module will introduce students to a range of development economics theories and polices, including current ideologies and methods of analysis in development economics, theories of growth and explanations of poverty and inequality, the role of governance, corruption, and the scope of the public sector, fiscal policies and investment, and the impact of poverty and inequality on economic and social well-being. Students will also discuss the challenges of sustainable development, the implications of efficient resource allocation (e.g. capital accumulation, labour migration, and industrialisation) on economic development, and the historical role of domestic finance, foreign aid and foreign investment in developing countries.

Learning and Teaching Information:

The module will be delivered via a series of weekly 3-hour teaching blocks, comprising whole-group interactive lecture and seminar covering fundamental theories and applications. Lectures and seminars will be supported by in-depth applied workshops.

This module will present students with selected scenarios for basic analysis in order to develop both analytical competence and the ability to identify and apply appropriate techniques in a range of typical situations. Students will be provided case studies and empirical data to interpret, explain and illustrate specific concepts related to patterns of economic development, measuring growth and comparing development levels, the role of states and markets in education, health and trade for development, and the impact of macroeconomic policies for development.

The module will also make use of current newsworthy case studies and developing business and political trends, and so the nature of the topics and exercises will vary. Students will be provided with, and/or directed to, relevant reading and additional questions/ exercises to support their progress through the module material.

Lectures / seminars
Hours: 30
Intended Group Size: Cohort

Workshops / tutorials
Hours: 10
Intended Group Size: Cohort or variable-size groups

Guided independent study
Hours: 160

Further details relating to assessment
Case study: Students ability to appraise and compare policy and market responses to a particular scenario concerning economic development, as well as their ability to apply theories of economic growth to current issues will be assessed in a case study analysis involving a comparison between two developing economies.

Individual report: The second assignment will assess students' ability to collect and interpret data for their discussion, the ability to calculate and question the intended and realized results of development policies on welfare, trade, and capital accumulation, and their ability to identify the impact of economic policy on development and advise key stakeholders in the process.

Formative feedback: Weekly lectures and tutorials are taught in an interactive manner, providing semi-formal discussion and debates, peer critique and feedback, as well as quizzes and individual or group presentations, which offer ample opportunities for ample feedback and feed forward to students before their assignments.

Assessment:

Fact File

Module Coordinator - Carmen Dorobat
Level - 6
Credit Value - 20
Pre-Requisites - NONE
Semester(s) Offered -

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