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.