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Development Economics (ECON 204): Home

Introduction

This guide is created to support students taking the Development Economics (ECON 204) course

Course Description

This course will provide an introduction to development economics with a blend of both theory and empirics. The course will begin with distinguishing between the concepts of growth and development and motivating the study of economic growth. The neo-classical growth model will be introduced as a framework for understanding how growth occurs. The course will then unpack the model part by part, both theoretically and empirically, for a more nuanced understanding of growth. Its ingredients such as human capital formation will be studied. Its assumption of perfect institutions will be examined with a particular focus on property rights, corruption, and financial development. The causal impact of institutions on growth will be explored. Finally growth theory will be revisited to see how poverty traps arise as a result of imperfect institutions leading to emergence and persistence of poor economic outcomes. The course will end with an introduction to political economy of development where we will explore reasons why inefficient policies are often chosen.

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