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Development Economics
Paper Code:
ECO 514
Credits:
4
Contact Hours:
60.00
Objective:
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:
1. Jhingan M.L., The Economics of Development of Planning, Vrinda Publications (P) Ltd., New Delhi.
2. Mishra, S.K. and Puri V.K., Economics of Development and Planning: Theory and Practice, Himalaya Publishing House, New Delhi.
3. Thirlwal, A. P., Growth and Development, McMillan, New York.
4. Todaro, M. P and S C Smith, Economic Development, Pearson Education.
5. Kindelberger, C. P., Economic Development, McGraw Hill, New York.
6. Meier; G. M. and James E, Rauch, Leading Issues in Economic Development, Oxford University Press.
Academic Session:
