Development Economics

700 million people live on less than $1.90 a day, the World Bank’s international line for extreme poverty; the majority of people in the world live on less than $10 a day. The goal of Development Economics is to understand the economic problems of developing countries using economic theory and its application, and so better understand the lives of the world’s poor. Why do they remain poor? Specifically, what economic policies and market failures hinder their quest to improve their well-being? Is there scope for policy to help the world’s poor? The course will also consider trade policy, globalization, the role of the private sector and markets, sustainability and environmental challenges and the role of foreign aid. The goal of the course is to help students understand the development challenges we face in the 21st century as the economies of the developing world become part of our globalized but fragile world. Students must have studied Introduction to Economics, or its equivalent to be accepted onto this course.