Economic of Growth and Development II

Paper Code: 
ECO 422
Credits: 
4
Contact Hours: 
60.00
Objective: 

To develop an understanding as to how the developing countries can uplift their economic conditions by restructuring their economies to acquire greater diversity, efficiency and equity.  

12.00
Unit I: 
Partial Theories of Growth and Development

•    Theory of big push
•    Critical minimum effort thesis
•    Low level equilibrium trap
•    Balanced growth
•    Unbalanced growth(Hirschman’s strategy)

12.00
Unit II: 
Partial Theories of Growth and Development II

•    Nurkses theory of disguised unemployment
•    Theory of circular causation
•    Unlimited supply of labour
•    Ranis Fei model
•    Dualism :  Social and Technical

12.00
Unit III: 
Sectoral Aspects of Development

•    Role of agriculture in economic development
•    Role of industrialization  in economic development
•    Complimentarily of agriculture and industry
•    Efficiency of small scale vs large scale production
•    Infrastructure and its importance
 

12.00
Unit IV: 
Planning and Development

•    State : Role of State in economic development
•    Economic planning : meaning and rationale
•    Planning by direction and planning through the  market
•    Democratic, decentralized and indicative planning

12.00
Unit V: 
Allocation of Resource

•    Investment criteria
•    Project evaluation
•    Cost benefit analysis
•    Shadow prices

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.
7. Ray, Debraj (2004) : Development Economics, Seventh Impression, Oxford University      Press, New Delhi.
8. Amartya Sen (ed), Growth Economics, Penguin Modern Economic Readings, 1970.

 

Academic Session: 
2018-19
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