Syllabus
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Course Code: M-BECOC -013 Course Name: Economics of Growth and Development-I |
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| MODULE NO / UNIT | COURSE SYLLABUS CONTENTS OF MODULE | NOTES |
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| 1 | Concepts & Measurement of Economic Development Economic growth, Economic development and Sustainable development; MDGs and SDGs. Historical perspective of Economic Growth and its relevance; Structural diversity and common characteristics of developing nations. Measuring Development: Income Measures, Basic Needs Approach, PQLI, HDI and Capabilities Approach; Goulet’s core values of development. Poverty, Inequality and Development: Measurement, Impact and Policy options. Reading List • Barro, R. J.&Sala-i-Martin, X. (2004). Economic Growth. MIT Press. • Behrman, S. &Srinivasan,T.N (Eds.).(1995).Handbook of Development Economics, Vol. 3. Elsevier, Amsterdam. • Chenery, H. & Srinivasan, T.N. (Eds.) (1989).Handbook of Development Economics, Vol. 1 & 2. Elsevier, Amsterdam. • Schultz, Paul T. & Strauss, J. (Eds.).(2008).Handbook of Development Economics, Vol. 3. Elsevier, Amsterdam. • Sen, A.K. (Ed.). (1990).Growth Economics. Penguin, Harmondsworth. |
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| 2 | Theories of Growth and Development Contributions of Adam Smith, Ricardo, Karl Marx and Schumpeter, Rostow’s Theory of Stages of Economic Growth. Reading List • Adelman, I. (1961). Theories of Economic Growth and Development, StanfordUniversity Press, Stanford. • Higgins, B. (1959). Economic Development. W.W. Norton, New York. • Kindleberger, C.P. (1977).Economic Development. McGraw Hill, New York. • Meier, G.M. & Rauch, J.E. (2005).Leading Issues in Economic Development. OxfordUniversity Press, New Delhi. • Thirlwal, A.P. (1999). Growth and Development. Macmillan, U.K. • Todaro, M.P. & Smith, S.C. (2003). Economic Development. Pearson Education, Delhi. |
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| 3 | Growth Models Harrod and Domar: Instability of equilibrium; Neo Classical Growth Models: Solow and Meade; Cambridge Growth Models: Joan Robinson, Kaldor and Pasinetti. Reading List • Jones, H.G. (1975).An Introduction to Modern Theories of Economic Growth. Nelson, London. |
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| 4 | New Growth Theory Production Function Approaches: Learning by Doing; Total Factor Productivity; Ramsay’s rule and optimal saving; Golden Rule of Accumulation; Technical Progress: Hicks and Harrod; Endogenous Growth Models (Romer, Uzawa-Lucas, AK). Reading List • Brown, M. (1966). On the Theory and Measurement of Technical Change. Cambridge University Press, Cambridge. • Chakravarti, S. (1982). Alternative Approaches to the Theory of Economic Growth. Oxford University Press, New Delhi. • Ghatak, S. (1986). An Introduction to Development Economics. Allen and Unwin, London. • Gillis, M., Perkins, D.H., Romer, M. & Snodgrass, D.R. (1992). Economics of Development. W.W. Norton, New York. |
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