Syllabus for Economics B: Economics of Development

Learning outcomes

After completing the course, the student is expected to be able to:

• describe the basic characteristics of a developing economy
• explain the differences between economic growth and development and discuss different measures of development
• verbally and graphically explain growth theories and describe their shortcomings for developing countries
• identify the basic economic problems in developing countries
• survey and examine how economic policies can solve different development problems

Content

The course begins with a short survey of the characteristics of developing economies and presents different measures that are used to measure development. Different growth theories are analysed followed by a discussion of the role of the state in the development process, in theory and in a historical perspective. The rest of the course deal with special questions such as: What is meant by poverty and how is it measured? What is the link among economic growth, poverty and the income distribution? Is population growth a serious problem? How have the education and health trends looked like developing countries in the last few decades and what are the future prospects? Are developing countries becoming industrialised at the expense of agriculture? What is meant by foreign aid and globalisation, how are the developing countries affected? Is economic growth environmentally sustainable?

The discussions also cover various economic policies that have been beneficial or detrimental for development. Agricultural policy, industrial policy and trade policy are a few such examples. During the course, several examples are used from developing countries in Asia, Africa and Latin America in order to better illustrate different aspects of the issue of development.

Instruction

The instruction is in English. It consists of lectures as well as seminars.

Assessment

The grades on the course are pass with distinction (VG), pass (G) and fail (G). The assessment consists of two parts. Part 1: written exam (4 credits). Part 2: active seminar participation and a written assignment (3,5 credits). The grades for the first part are pass with distinction (VG), pass (G) and fail (U). The grades for the second part are pass (G) and fail (U).

Each part is reported separately. A total grade for the entire course amounting to 7.5 credits is awarded when all parts have been completed. The grade pass (G) requires a pass on both parts. The grade pass with distinction requires a pass with distinction (VG) on part 1 and pass (G) on part 2.