Economics of Growth and Development - II

Paper Code: 
24ECO 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.

 

Course Outcomes: 

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies 

Course Code

Course Title

24ECO 422

Economics of Growth and Development-II

(Theory)

Students will

CO127: analyze several acclaimed growth theories.

CO128: analyze various theories of development.

CO129: examine the role of agriculture and industrialization in economic development.

CO130: evaluate the role of planning and state in economic development.

CO131: analyze investment criteria, cost benefit analysis and related aspects

CO132: contribute effectively in course-specific interaction.

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
  • 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.  (2017). Economics of Development and Planning: Theory and Practice (16thed.). Himalaya Publishing House.
  1. Todaro, M. P and Smith, S. C. (2015).  Economic Development (12thed.).  Pearson Education.

 

References: 

Suggested Readings:

  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 (8THed.) Oxford University Press.

E-Resources:

Journals:

  • Journal of Economic Growth

https://www.springer.com/journal/10887

  • Indian Growth and Development Review

https://www.emeraldgrouppublishing.com/journal/igdr

  • International Journal of Growth and Development

http://igdjournal.com/index.php/ijgd/index

 

 

Academic Session: 
2024-25
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