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Development Economics
Paper Code:
ECO 314
Credits:
3
Contact Hours:
45.00
Max. Marks:
100.00
Objective:
To acquaint the students with the concept of economic growth and development.
9.00
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
9.00
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
9.00
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
8.00
Unit IV:
- Disguised unemployment as a saving potential.
- Unlimited supply of labour;
- Big Push Theory;
- Hirschman’s Strategy
10.00
Unit V:
- Critical minimum effort thesis.
- Concept of endogenous growth
- Harrod- Domar models
- Solow model
Essential Readings:
- Ray Debraj. Development Economics, Oxford University Press
- Jhingan M.L., (Latest Edition), The Economics of Development of Planning, Vrinda Publications (P) Ltd., New Delhi.
- Mishra and Puri (Latest Edition), Economics of Development and Planning: Theory and Practice, Himalaya Publishing House, New Delhi.
- Thirlwal, A. P. (Latest Edition), Growth and Development, McMillan, New York.
- Todaro, M. P and S C Smith, (Latest Edition), Economic Development, Pearson Education.
References:
- Amartya Sen, Development as Freedom, Oxford University Press, 2012
- Kindelberger, C. P. (Latest Edition), Economic Development, McGraw Hill, New York.
- Meier; G. M. and James E, Rauch (Latest Edition), Leading Issues in Economic Development, Oxford University Press.
- S Subramanian (ed), Measurement of Inequality and Poverty, Oxford University Press, 2005.
Academic Session:
