ECONOMICS OF GROWTH AND DEVELOPMENT-II

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

1. To analyze 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.

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

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. (2016). The Economics of Development of Planning (41sted.). Vrinda Publications (P) Ltd.

 

  1. Mishra, S.K. and Puri V.K.  (2018). Economics of Development and Planning: Theory and Practice (18th ed.). Himalaya Publishing House.

 

 

  1. Todaro, M. P and Smith, S. C. (2015).  Economic Development (12thed.).  Pearson Education.
References: 
  1. Thirlwall, A. P. and Lopez, P.P. (2017). Growth and Development (10thed.). Bloomsbury Academic.

 

  1. Kindelberger, C. P. (1977). Economic Development.  McGraw Hill.

 

  1. Meier; G. M. and Rauch, J. E. (2005). Leading Issues in Economic Development (8th ed.) Oxford University Press.
Academic Session: 
2022-23
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