To acquaint the students with the concept of economic growth and development.
12.00
Unit I:
Development: Nature , Meaning and Values
Capabilities approach
Objectives of development
Measurement of development: purchasing power parity and per capita income as an index of development, human development index
Difference between growth and development
Meaning and Characteristics of developing economies
12.00
Unit II:
Land: ownership and tenancy system-fixed rent contract and share cropping Role of agriculture in development and barriers to agricultural development
Labour: population and labour force growth, casual and long term labour, permanent labour market
Capital: role of capital accumulation in economic development, significance of capital output ratio, role of technology and technological progress, learning by doing, human capital
12.00
Unit III:
Inequality: meaning, measures- Lorenz curve, range, coefficient of variation, Gini coefficient, Kuznet’s inverted U hypothesis
Poverty : relative and absolute, poverty line, poverty measures-head count ratio, poverty gap ratio, income gap ratio human poverty index
Social dimensions of poverty : rural poverty, women and ethnic minorities and indigenous populations
12.00
Unit IV:
Disguised unemployment as a saving potential.
Unlimited supply of labour;
Balanced growth theory;
Hirschman’s Strategy
12.00
Unit V:
Big Push Theory;
Critical minimum effort thesis;
Low level equilibrium trap;
Social and technical dualism
Essential Readings:
Jhingan M.L., The Economics of Development of Planning, Vrinda Publications (P) Ltd., New Delhi.
Mishra, S.K. and Puri V.K., Economics of Development and Planning: Theory and Practice, Himalaya Publishing House, New Delhi.
Thirlwal, A. P., Growth and Development, McMillan, New York.
Todaro, M. P and S C Smith, Economic Development, Pearson Education.
Kindelberger, C. P., Economic Development, McGraw Hill, New York.
Meier; G. M. and James E, Rauch, Leading Issues in Economic Development, Oxford University Press.