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:
Economic Growth and Development
Meaning and measurement of growth and development
The Inverted U Hypothesis
Growth – Distribution Trade offs
Factors affecting economic growth : capital, labour and technology
Human development : Essential components
Human development index, Gender related development index, Human poverty index, Gender empowerment
Obstacles to growth and development
12.00
Unit II:
The Theories of Development
Classical Theories of Development
Adam Smith
David Ricardo
Malthus
Karl Marx’s Theory of Economic development
Schumpeter’s Theory of Development
12.00
Unit III:
Growth Models
Harrod and Domar
Neo classical growth models
R.M Solow’s growth model
J E Meade’s growth model
A Critical Appraisal of neo-classical theory
Mrs Joan Robinson
12.00
Unit IV:
Population and Human Capital Formation
Growth pattern of population
Theory of demographic transition
Population as limits to growth and as ultimate source
Human capital formation : Indicators, importance, contribution and problems
12.00
Unit V:
Technological Progress
Choice of techniques
Capital output ratio
Appropriate technology
Embodied and disembodied technical progress
Hicks approach, Harrods approach, learning by doing
Growth model of Kaldor
Essential Readings:
Meier, Gerald M. and James E. Raunch (2006) : Leading Issues in Economic Development, Eighth Edition, Oxford University Press, New York.
Ray, Debraj (2004) : Development Economics, Seventh Impression, Oxford University Press, New Delhi.
Thirlwall, A. P. (2006) : Growth and Development, Eighth Edition, Palgrave Macmillan, New York.
Todaro, Michael P. and Stephen Smith, C. (2007): Economic Development, Eighth Edition, Second Impression, Pearson Education, (Singapore) Pvt. Ltd., Indian Branch, Delhi.
Yotopoulos, Pan A. and Nugent Jeffery B. (1976 ) : Economics of Development : Empirical Investigations, Harper and Row Publishers, New York.
Ghatak, S. (1986), An Introduction to Development Economics, Allen and Unwin, London.
Bhatia, H.L . (2008), Public Finance, Vikas Publishing House Pvt. Ltd., Noida .