ECONOMICS OF GROWTH AND DEVELOPMENT-I

Paper Code: 
ECO 322
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

1. To help the students understand the basic concepts of development economics

2. To analyze the theories of economic growth and growth models.

3. To acquaint the students with the role of human capital formation and technological progress in economic growth.

 

Course Outcomes (COs):

Course

Outcome (at course level)

Learning and teaching strategies

Assessment Strategies 

Paper Code

Paper Title

ECO 322

Economics of Growth and Development-I

CO34: Students willunderstand the basics of development economics.

CO35: Students examine the process of human capital formation and technological progress. 

CO36:

Students willcomprehend the classical theories of development.

CO37: Students willanalyze different growth models like Harrod and Domar;Solow; Meade and Kaldor.

Approach in teaching: Interactive Lectures, Discussion,  Case studies.

 

Learning activities for the students:

Presentations, Assignments and Group discussions.

Class activity, Assignments, Quiz and  Semester end examinations.

 

12.00
Unit I: 
Economic Growth and Development

    

Economic development and growth. Measurement and indicators of development: PQLI, HDI, GDI, GII, MPI. Entitlement and capability approach. Sustainable Development; Growth-Distribution Trade-offs; Factors affecting economic growth : labour, capital and technology; Obstacles to growth and development

 

12.00
Unit II: 
The Theories of Development

 

Classical Theories of Development - Adam Smith, David Ricardo

and Malthus; Karl Marx’s Theory of Economic development; Schumpeter’s Theory of Development

12.00
Unit III: 
Growth Models

 

Growth Models of Harrod and Domar;Solow; Meade and Kaldor;

Golden Rule of Capital Accumulation; Cambridge criticism of Neo-classical Analysis of Growth

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; Technical progress- Hicks and Harrod; Endogenous growth theory and Learning by doing

Essential Readings: 
  1. Jhingan M.L., The Economics of Development Planning, Vrinda Publications (P) Ltd., New Delhi.
  2. PuriV.K  andMisra, S.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. AmartyaSen (ed), Growth Economics, Penguin Modern Economic Readings, 1970.

 

Academic Session: 
2021-22
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