Economic Development

This subject will address economy-wide issues in economic development. The main objectives of the subject are to examine the key determinants of economic growth and the actual development experience of selected countries. Special emphasis will be placed on drawing policy lessons from the latest research and country experience of growth and development. The subject will cover topics such as social welfare, education, institutions, corruption, microfinance, foreign aid, the geography of economic development, and theories of economic growth and development.

• 1Explain the concept and measurement of development;
• 2Critically assess the relevance of the theories developed to explain the economic development process;
• 3Explain and analyse development issues through the application of economic theories and data;
• 4Describe the ways in which developing countries differ from developed countries;
• 5Analyse the major issues effecting developing countries of the world today; and
• 6Critically evaluate policy prescriptions in the context of the development process and within the context of a rapidly globalising world economy.