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East West University
Department of Economics

Course Outline (Fall 2008)
MDS 501: ECONOMICS OF DEVELOPMENT

Instructor:
Muhammad Sirajul Haque, Ph.D
Professor and Chairperson, Department of Economics

Office Hours:
Friday : 04:40 P.M to 06:00 P.M
Friday 06.00 P.M to 07:30 PM
Class Hours:
F - 3:00 – 6:00 P.M.; Room # ADMN-1318

Brief Description:

Underdevelopment which is a major problem in the developing world is the central focus of this course. It examines the nature and origin of underdevelopment as well as its consequences for the welfare level and standard of living of the people. Economics of Development teaches economics within the framework of a key set of issues, such as poverty, inequality, unemployment, illiteracy, ill health, lack of shelter, population growth, environmental degradation, rural-urban migration and rural stagnation.

Various theories of growth are discussed with a view to examining the gradual improvement in the paradigm shift as well as the suitability of a theory/model in a specific context of underdevelopment. In this course, the process of development is examined from an institutional and structural (non-economic) as well as an economic perspective with appropriate modifications of current general economic principles, theories and policies. An attempt is made to combine relevant theory with realistic institutional analysis. The course considers the many economic, social and institutional problems of underdevelopment as closely interrelated and demanding simultaneous and coordinated approaches to their solution at the national, regional and international levels. In particular, the course stresses the increasing interdependence of the world economy in areas such as food, energy, natural resources, technology, information, trade and financial flows.

Objectives:

The main objective of this course is to acquaint the students with the concepts, problems and issues relating to underdevelopment and to provide them with an understanding of the approaches, models, theories and tools towards the solution of the problems. At the end of the course, the students should be equipped with the knowledge of the development situation in the developing world, the least developed countries (LDCs), in particular, and to the concrete steps in the path to economic development. The students would also get sensitized about Paradigm shifts in Development as well as change of emphasis on implementation.

Required Text:

Economic Development by Michael P. Todaro and Stephen C. Smith Eighth Edition Pearson Education Asia.

Additional Text:

- Economic Development Second Edition by Charles P. Kindleberger published by McGraw-Hill Book Company.

- Leading Issues in Development Economics by Meir and Goldwin.

- Human development Report, UNDP 2005.

- Bangladesh Economic Survey 2005 Attacking Poverty with Microcredit edited by Dr. Salehuddin Ahmed and Dr. SA Hakim.

- World Development Report World Bank 2005.

- Unlocking the Potential: National Strategy for Accelerated Poverty Reduction, Planning Commission.

Time Schedule:

Week 1:Definition and Objectives of Development- Growth to Development- to Sustainable Development- to Sustainable Human Development- Structural Change in GDP Week 2:Diversity in Structures amongst common characteristics of Developing Nations- Classical and Neoclassical models of Growth-Contemporary Models of Development and Underdevelopment.

Week 3: Dualism, Center – Periphery Models- LDCs’ Definition of Development Revisited Development Dimension -Factor and Non-factor Inputs in Development- Chronology of Development Theories- Classical, Neo-classical, Dynamic, Keynesian, Post Keynesian

Week 4:Economy of Bangladesh Problems, Prospects and Policy Options for its Development.

Week 5:Economic, Social and Institutional Issues in Development: Cumulative Causation- Population...
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