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Regular version of the site
Bachelor 2018/2019

Development Economics

Area of studies: Economics
When: 3 year, 3, 4 module
Mode of studies: Full time
Instructors: Roman Zakharenko
Language: English
ECTS credits: 4

Course Syllabus

Abstract

Modern world is characterized by enormous heterogeneity of living standards within and across countries. Development Economics is a one-semester course that aims to understand the causes of such heterogeneity, from both theoretical and empirical perspectives, as well as to provide policy recommendations for reduction and elimination of underdevelopment. The course is taught in English. Prerequisites: Microeconomics 1-2, macroeconomics 1-2, calculus.
Learning Objectives

Learning Objectives

  • Upon successful completion of the course, the student will be able to understand and discuss rigorous theories of what causes economic underdevelopment, as well as modern econometric methods of establishing such causes.
Expected Learning Outcomes

Expected Learning Outcomes

  • outline the main theories and concepts in development economics
  • Select and analyse economic theories relevant for issues in economic development
  • summarize and evaluate empirical work in development economics
  • compare and contrast empirical work for the purpose of designing policy for a specific context
Course Contents

Course Contents

  • 1. Brief overview of the developing world, major stylized facts about poverty 2. Theories of economic growth 3. The role of economies of scale in economic development: Kremer’s theory of growth, “Industrialization and the big push” (Murphy, Shleifer, Vishny) 4. Skill complementarities and Kremer’s “O-ring” theory of economic development 5. The role of asymmetric information in economic development: adverse selection (Akerlof) and moral hazard (Stiglitz)
  • 6. Inequality and growth: measuring inequality; theory of the effect of inequality on growth (Persson-Tabellini) 7. The role and magnitude of corruption in development 8. Migration and development: rural-urban migration, international migration, remittances 9. Population growth and demographic transition 10. Geography and development 11. Institutions and development 12. Culture and development
Assessment Elements

Assessment Elements

  • non-blocking homeworks
  • non-blocking in-class presentation
  • non-blocking in-class quizzes
  • non-blocking mid-semester test
  • non-blocking cumulative final exam
Interim Assessment

Interim Assessment

  • Interim assessment (4 module)
    0.16 * homeworks + 0.06 * in-class presentation + 0.5 * cumulative final exam + 0.06 * in-class quizzes + 0.22 * mid-semester test
Bibliography

Bibliography

Recommended Core Bibliography

  • Acemoglu, D. (DE-588)124929575, (DE-576)173178197. (2009). Introduction to modern economic growth / Daron Acemoglu. Princeton, N.J. [u.a.]: Princeton Univ. Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edswao&AN=edswao.284986100
  • Banerjee, A. V., Benabou, R., & Mookherjee, D. (2006). Understanding Poverty. Oxford: Oxford University Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=176370
  • Bardhan, P. K., & Udry, C. (1999). Development Microeconomics. Oxford: OUP Oxford. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=267256
  • Kaushik Basu. (2003). Analytical Development Economics: The Less Developed Economy Revisited. The MIT Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.mtp.titles.0262523442

Recommended Additional Bibliography

  • Economic development, Todaro M. P., Smith S. C., 2015