Development Economics: Understanding The Causes of Underdevelopment

ECON20332 Development Economics: Understanding The Causes of Underdevelopment 10 Semester 2 Undergraduate Level 2 Lakshmi Aerath Unit coordinator Economics 1 FHEQ level (Framework for Higher Education Qualifications) ' Middle part of Bachelors ' European Credit Transfer & Accumulation System Rating : 5.0 Knowledge about the realities of poverty has long informed policy making, although misinformation and exaggerated ideological arguments have often also influenced policy makers, and continue to do so. The material in this course is focused around understanding poverty in the developing world using evidence-based policy research. Specifically, students will learn how growth is defined and measured, many of the primary causes of poverty, and policy tools that can be drawn upon to help lift households out of poverty. The course is designed to develop skills that can be practically applied in the government and NGO sectors, as well as for students who may wish to take higher level development courses.Successful practitioners rely on survey data, and students will learn how to use this type of data to conduct basic analysis and policy impacts. Students will also learn basic program evaluation technique, the basics of which will also be covered in tutorials. Hence, while it is desired, it is not necessary to have completed any econometrics courses. This course aims to develop students' understanding and knowledge of applied Development Economics.Knowledge about the realities of poverty has long informed policy making, although misinformation and exaggerated ideological arguments have often also influenced policy makers, and continue to do so. The material in this course is focused around understanding poverty in the developing world using evidence-based policy research. Specifically, students will learn how growth is defined and measured, many of the primary causes of poverty, and policy tools that can be drawn upon to help lift households out of poverty. The course is designed to develop skills that can be practically applied in the government and NGO sectors, as well as for students who may wish to take higher level development courses.Successful practitioners rely on survey data, and students will learn how to use this type of data to conduct basic analysis and policy impacts. Students will also learn basic program evaluation technique, the basics of which will also be covered in tutorials. Hence, while it is desired, it is not necessary to have completed any econometrics courses. • To familiarise students with the theoretical and empirical aspects of economic development faced by developing countries;• To provide students with key concepts of development economics;• To provide students with the basic skills required for the development of an independent understanding of the current issues in development economics. At the end of this course students should be able to:• Understand how economic development is defined and the main issues surrounding this definition;• Measure poverty and apply this to existing data;• Understand the key macro- and micro-level issues surrounding why poverty persists in some countries;• Understand primary anti-poverty policy tools available to policy-makers, and apply these tools correctly in a given context;• Use household-level survey data to estimate poverty and policy impacts; and• Express ideas coherently in structured essays. Understand how economic development is defined and the main issues surrounding this definition  Understand the key macro- and micro-level issues explaining why some countries grow slowly compared to othersCritically evaluate literature relating to economic growth and poverty issues  Understand primary anti-poverty policy tools available to policy-makers, and apply these tools correctly in a given context Understand the use of data to estimate poverty and policy impacts Express ideas coherently in structured essays Analytical skills Synthesis and analysis of data and information. Critical reflection and evaluation. Decision-making. Problem solving Problem posing Research Planning independent research. Using library, electronic and online resources, using statistical software and analysis of survey data. Welfare measurementPoverty and Welfare (definition, measurement)Economic growth and povertyHealth and educationBargaining power (gender, age and households)Foreign aid, taxation and redistributionPolicies to address health and education  Synchronous activities (such as Lectures or Review and Q&A sessions, and tutorials), and guided self-study 0 Other 100% 30% Mid-Term Exam - 30 minutes70% Final Exam - 90 minutes Feedback on-script and group wide feedback ECON10171 Principles of Microeconomic Theory 1: Consumers, Welfare, Production and Costs Pre-Requisite Compulsory ECON10181 Macroeconomic Analysis 1 Pre-Requisite Compulsory ECON10221 Microeconomics 1 Pre-Requisite Compulsory ECON10241 Macroeconomics 1 Pre-Requisite Compulsory ECON10252 Macroeconomics 1 Pre-Requisite Compulsory ECON10331 Microeconomics 1 Pre-Requisite Compulsory (ECON10171 OR ECON10221 or ECON10331) AND (ECON10181 OR ECON10241 OR ECON10252)(ECON10171 OR ECON10221 OR ECON10331) AND (ECON10181 OR ECON10241 OR ECON10252) Y You do not need to buy any textbooks for this course unless you would like to. I will upload all readings to Blackboard.I am drawing from:1. The Economics of Poverty. History, Measurement, Policy by Martin Ravallion (2016), Oxford University Press.This is an excellent book based on practice: Professor Ravallion has spent most of his career at the World Bank, leading the Development Economics Research Group in Washington, DC.2. Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty, by Abhijit Banerjee and Esther Duflo (2011)3. Good Economics for Hard Times, by Abhijit Banerjee and Esther Duflo (2019)If you are interested in reading more about economic development, the standard (but somewhat outdated) textbook at the undergraduate level is:Debraj, R. (1998), Development Economics, last edition, Princeton University Press. Any additional readings and a full set of references will be listed on the slides for each lecture. Any readings that need to be done in advance will be indicated on Blackboard through announcements well in advance of the lecture. Lectures 16 Tutorials 4 0 80 For every 10 course unit credits we expect students to work for around 100 hours. This time generally includes any contact times (online or face to face, recorded and live), but also independent study, work for coursework, and group work. This amount is only a guidance and individual study time will vary.