Development Microeconomics

MGDI20261 Development Microeconomics 20 Semester 2 Undergraduate Level 2 Upasak Das Unit coordinator Vidhya Unnikrishnan Unit coordinator 1 FHEQ level (Framework for Higher Education Qualifications) ' Middle part of Bachelors ' European Credit Transfer & Accumulation System Rating : 10.0 The course aims to introduce students to various issues in development economics. In particular, the course focuses on the micro-aspect of development emerging in developing countries. The course emphasises theoretical foundations on selected topics, and this will also be supplemented with practical skills in working with data. The course aims to introduce students to various issues in development economics. In particular, the course focuses on the micro-aspect of development emerging in developing countries. The course emphasises theoretical foundations on selected topics, and this will also be supplemented with practical skills in working with data. The unit aims to:<ul> <li>Introduce students to emerging topics in the field of development economics.</li> <li>Understand the context of households, their decision-making behaviour, issues on migration, agriculture, rural credit market and labour</li> <li>Develop students' conceptual understanding of these issues. The course will also discuss research findings emerging on these themes. And seek to understand how research findings shapes up public policies on these topics and vice-versa.</li> <li>Students would also develop practical skills by working on survey data complementing the topics discussed in the class. This transferable skill will help them gain practical experience working on datasets which is a critical job market skill.</li> <li>The course will help students to develop critical arguments on key topics, provide a practical understanding of working surveys data, and help them understand about evidence-based policymaking.</li></ul> <ul> <li>Develop a theoretical understanding of various developmental issues in the global South.</li> <li>Critical understanding of crucial research emerging in this area</li> <li>Understand how to work with data in the development context to understand an evidence-based policy framework</li></ul> <ul> <li>Understanding on conceptual framework and engagement with various strands of literature</li> <li>Problem-solving approach by linking conceptual framework and academic research on solving developmental problems</li> <li>Analyse and interpret evidence</li></ul> <ul> <li>Analyse data to make policy decisions</li></ul> <ul> <li>Develop a critical and analytical argument, making use of appropriate evidence</li> <li>Making coherent arguments and develop writing and analytical skills</li></ul> The course covers four main topics, including Household behaviour, Agriculture, Labour and Migration. In the beginning, we focus one lecture on refreshing basic differential calculus learnt at A-levels, which will be applied to solve problems development economics. Later, we will move on to a discussion on each topic provided. Since this is an applied course, there will be lectures and labs so that students can understand the development issue and analyse the data.<ol> <li>Introduction to development economics and basic growth models.</li> <li>Introduction to differential calculus, utility maximization, unitary and collective models of household behaviour</li> <li>Lab session</li> <li>Migration- urban/ rural linkage, Lewis Model; Harris Toddaro Model</li> <li>Lab session</li> <li>Labour demand, labour supply, labour-leisure trade off, reservation wages</li> <li>Efficiency wage, capacity curves, statistical and taste based discrimination, permanent labour, female labour participation</li> <li>Lab session</li> <li>Agriculture, Land, ownership, tenancy, contracts, hidden information, moral hazards</li> <li>Rural Credit market, informal lenders, insurance, information asymmetry, microfinance</li></ol> Teaching and learning will be based on lectures (once per week for two hours) and tutorials (Bi-weekly, 2 hours). Lectures will combine presentation of the learning material with some interactive discussion. Reading lists, lecture slides and tutorial questions will be posted on the VLE. Tutorials will provide students with the opportunity to engage critically with the learning material develop their writing, analytical, and critical understanding of the topics discussed. Advice on how to prepare for each tutorial will be posted on the VLE. 1 Written exam 40% 8 Practical skills assessment 30% 9 Set exercise 30% Feedback on written assessments will be provided via the VLE. BSc Global Development BSc (Hons) Global Development Second Year Optional BSc Global Dev with Int Study BSc Global Dev with Int Study Second Year Optional N Ray, D. (1998). Development economics. Princeton University Press.Thirlwall, A. P., & Pacheco-López, P. (2017). Economics of development: theory and evidence. Bloomsbury Publishing.Jacques, I. (2006). Mathematics for economics and business. Pearson Education.Basu, K. (2003). Analytical development economics: the less developed economy revisited. MIT press (secondary)Deaton, A., 2019. The Analysis of Household Surveys (Reissue Edition with a New Preface): A Microeconometric Approach to Development Policy. World Bank Publications.Taylor, J. Edward, and Travis J. Lybbert. Essentials of development economics. Univ of California Press, 2020. Lectures 20 Tutorials 10 0 170