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Development Economics [1]

Paper Code: 
25CECO 511
Credits: 
6
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

1.      To comprehend the concept economic development.

2.      To understand the role of land, labour and capital in development.

3.      To examine the various theories of development

 

 

Course Outcomes: 

Course Outcomes (COs):

Course

Code

Course Title

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies 
   

25CECO 511

Development Economics

(Theory)

Students will:

CO49:analyze various concepts related with growth and development

CO50: comprehend the role of different factors of productionand the role of agriculture in development.

CO51: analyze the different aspects of inequality and poverty

CO52: analyze various theories of development and growth

CO53: analyze some more theories of development

CO54: 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 and  Semester end examinations.

 

18.00
Unit I: 
Introduction
  • Development: Nature , Meaning and Values
  • Capabilities approach
  • Objectives and Measurement of development - purchasing power parity and per capita income as an index of development, human development index
  • Difference between growth and development
  • Meaning and Characteristics of developing economies
  • Factors of development, obstacles in development
  • Characteristics of modern growth

 

18.00
Unit II: 
Land, Labour and Capital
  • Land: ownership and tenancy system-fixed rent contract and share cropping, 
  • Role of agriculture in development and barriers to agricultural development,
  • Labour: population and labour force growth, casual and long term labour, permanent labour market,
  • Capital: role of capital accumulation in economic development,
  • Significance of capital- output ratio,
  • Role of technology and technological progress,
  • Human capital, learning by doing

 

 

18.00
Unit III: 
Inequality and Poverty
  • Inequality - meaning and Causes
  • Measures of inequality- Lorenz curve, range, coefficient of variation, Gini coefficient
  • Kuznet’s inverted U hypothesis
  • Poverty- relative and absolute, poverty line, poverty measures-head count ratio, poverty gap ratio, income gap ratio human poverty index
  • Social dimensions of poverty: rural poverty, women and ethnic minorities and indigenous populations.

 

18.00
Unit IV: 
Theories of Development I

·       Disguised unemployment as a saving potential – Nurkse’s theory

·       Lewis’ theory of Unlimited Supply of Labour

·       Fei-Ranis theory

·       Balanced growth theory

·       Hirschman’s Strategy

Marx’s theory

18.00
Unit V: 
Theories of Development II
  • Big Push Theory
  • Critical minimum effort thesis
  • Low level equilibrium trap
  • Social and technical dualism
  • Circular causation
  • Schumpeterian theory
  • Ricardian theory

 

 

Essential Readings: 
  1. JhinganM.L.andJhingan, B. K., TheEconomics of Development of Planning (Vrinda Publications (P) Ltd., 42nd Edition, 2022
  2. Mishra, S.K. and Puri V.K., Economics of Development and Planning: Theory and Practice, Himalaya Publishing House, 16th Edition, 2017

Todaro, M. P and Smith, S. C. Economic Development Pearson Education. 12th Edition,2015

References: 

Suggested Readings: 

  1. Thirlwall, A. P. and Lopez, P.P., Growth and Development, Bloomsbury Academic, 10th Edition, 2017
  2. Kindelberger, C. P., Economic Development.  McGraw Hill, 1977
  3. Meier; G. M. and Rauch, J. E., Leading Issues in Economic Development, Oxford University Press, 8th Edition, 2005

E-Resources:

 Journals:

  1. Journal of Economic Growth

   https://www.springer.com/journal/10887 [4]

  1. Indian Growth and Development Review

 https://www.emeraldgrouppublishing.com/journal/igdr [5]

  1. International Journal of Growth and Development

         http://igdjournal.com/index.php/ijgd/index [6]

 

Academic Session: 
2025-26 [7]

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Source URL: https://economics.iisuniv.ac.in/courses/subjects/development-economics-9

Links:
[1] https://economics.iisuniv.ac.in/courses/subjects/development-economics-9
[2] https://www.youtube.com/watch?v=y8y-gaNbe4U
[3] https://epgp.inflibnet.ac.in/Home/ViewSubject?catid=NEp/xikgBgNtfA+sgFQAcA
[4] https://www.springer.com/journal/10887
[5] https://www.emeraldgrouppublishing.com/journal/igdr
[6] http://igdjournal.com/index.php/ijgd/index
[7] https://economics.iisuniv.ac.in/academic-session/2025-26