The Economics of Less Developed Countries
Module Code: EC304C
Module Title: Economics of Less Developed Countries
- ECTS Weighting: 5
- Semester/Term Taught: Hilary Term
- Contact Hours: 22 hours of lectures and 4 hours of tutorials
- Module Personnel: Lecturer - Michael King
On successful completion of this module, you will be able to:
- Explain what is commonly meant by development and which countries fit into the less developed country category and why they do so.
- Identify and account for the challenges of government planning in developing countries.
- Appraise the contribution of trade, finance and aid policies to the advancement of developing countries. And formulate a balanced judgement on the opportunities and threats posed by these to developing countries.
- Recognise the multiple functions of institutions and the role they play in economic development.
- Outline the connections between economic development and the environment and articulate a balanced judgement on the potential policy responses.
Module Learning Aims
Building on the classic models of economic development covered in the first module, this module uses contemporary models of economic development to investigate why some countries are rich and others are poor. The inherent challenges of development policymaking will be considered, before the success and failure of trade, finance and aid policies in less developed countries is examined. The central role of macro and micro institutions in economic development is then considered in detail. The module concludes with a discussion of the key challenge of environmental sustainability.
- Contemporary Theories of Economic Development
- Policymaking: What Role for the State in development?
- Trade: Engine of growth or obstacle to development?
- Domestic and International Finance: Opportunities and instability
- Aid: Does it work?
- The Role of Institutions in Development
- Economic Growth and Environmental Sustainability
Recommended Reading List
Michael Todaro and Stephen C. Smith, Economic Development, (11th edn.), Addison Wesley Longman, 2011.
10% Academic Paper Review
10% Group Presentation
20% Essay Assignment
60% Annual Examination