ECONOMICS OF GROWTH AND DEVELOPMENT-II

Paper Code: 
ECO 422
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

Toanalyze the partial theories of growth and development

2.  To understand the sectoral aspects of economic development.

3. To help the students examine the role of planning in economic development

4. To acquire knowledge about optimum resource allocation and related criteria.

 

Course Outcomes (COs):

Course

Outcome (at course level)

Learning and teaching strategies

Assessment Strategies 

Paper Code

Paper Title

ECO 422

Economics of Growth and Development-II

CO56: Students willanalyze and compare various theories of growth and development.

CO57: Students willexamine the role of agriculture and industrialization in development and allocation of resources.

CO58: Students willdiscuss the role of planning and state in economic development.          

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: 
Partial Theories of Growth and Development I

 

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

 

Nurkse’s 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  Planning, Vrinda Publications (P) Ltd., New Delhi.
  2. Puri ,V.K  and S.K. Mishra, 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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