COURSE PLAN

SECTION I

Semester III Class MA Applied Economics

Economics of Growth and

Course Code MEC 332 Course title
Development

Hours 60 Hours per week 04

Faculty Dr. Anjali PK [email protected]

Contact details
name Dr. Jayesh MP
[email protected]

 Attendance shall be taken within the first five minutes of

commencement of the session.
 In addition to the allotted four lecture hours, extra lecture hours will
be taken by the faculty in the week, whenever it is feasible so as to
Class
make up for classes which are likely to be missed due to public
policies and
holidays, college and / or department programmes as well as to
guidelines
complete the course speedily. Prior intimation will be given
concerning the same
 Students are expected to read up the course material, if any, given by
the teacher.

The goal of the course is to introduce the main issues of development

economics. What affects economic growth, inequality, and poverty? Why
do some countries achieve high levels of economic development and others
Course do not? What are the policies governments can implement to change the
Description growth path of their countries? In this course we will initially approach
these questions from a macro perspective and later introduce a
microeconomic view of the problems

 To provide the students with a thorough knowledge and understanding

of the foundations and applications of concepts and approaches in
Course
Development Economics
Objectives
 To enable students in identifying issues of underdevelopment and
generate practical solutions to them

At the end of the course the student will be able to:

CO1: Understand the mechanics and drivers of economic growth of
countries
Learning CO2: Understand the main causes for the glaring disparities between rich
Outcomes and poor countries
for the CO3: Apply theories and approaches of Development Economics to define
Course and address issues of economic growth, poverty and inequality
CO4: Better understand the real world challenges to development issues,
financial inclusion, microfinance and other areas of rural development
through service learning village exposure trips
 SECTION II

Week Hours
(starting Per Unit
Resource/
Unit and end Pedagog
Unit details Reference
dates) y
details
Hours per
week

Unit Economic Growth July 5 – Lecture  Todaro, M.P.

1: Theories: Neoclassical August 10, and and S.C. Smith
Theor economic theory: Slow- 2023 discussio (2003)
ies of Swan growth model and n Economic
Growt its extension; Ramsey Development,
h and growth model; Empirics of Pearson
Devel neoclassical theory: Education.
opme Conditional and  Thirlwall,
nt (12 unconditional A.P. (2011)
Hours convergence; Endogenous Growth and
) growth theory: AK model; Development
Romer model with with Special
knowledge spill overs and
Reference to
increasing returns to scale;
12 Developing
Uzawa-Lucas model with
Economies,
human capital
Endogenous growth
Palgrave.
theory: Models with  Ray, D.
endogenous technological (2004)
change, R&D based Development
growth theory; Empirics of Economics,
endogenous growth theory OUP.
and technological change  Jones. I,
Charles.,
Contemporary Theories Vollrath, D
of Economic ( 2013)
Development Introduction to
Economic
Dualistic development and Growth. WW
structuralism – Lewis Norton
model, Chenery model;
The balanced-growth Barro, R. J., &
Nurske model; Sala-i-Martin,
Hirschman’s unbalanced X. I. (2003).
growth model with Economic
backward and forward growth. MIT
linkages press.
 New frontiers in Theories
of Economic
Development

The imperfect information

paradigm (Stiglitz); the
new institutional economic
paradigm (Williamson);
the international
dependence models

 Todaro, M.P.
Measurement of and S.C. Smith
development and poverty- (2003)
vulnerability and of Economic
Unit chronic and inter-temporal Development,
2: poverty; concepts of Pearson
Pover welfare and well-being – Education.
ty, contrast to Sen’s approach; 9  Thirlwall,
Risk microeconomic A.P. (2011)
August 11- Lecture
and approaches on how Growth and
August 31, and
Inequ economic processes lead to Development
poverty increases or 2023 discussio
ality with Special
poverty reduction: poverty n
(09 Reference to
traps - the theory and Developing
Hours
evidence - credit market Economies,
)
failures, risk, social norms Palgrave.
and attitudes, and spatial  Ray, D.
externalities. (2004)
Development
Economics,
OUP

Unit The determinants of September Lecture  Todaro, M.P.

3: private capital flows (FDI, 1- and and S.C. Smith
Finan bank lending, bonds and September discussio (2003)
cial equity); and the 15, 2023 n Economic
Flows institutional and policy Development,
to issues arising from their Pearson
Devel impact on macroeconomic 9 Education.
oping stability and growth; the  Thirlwall,
positive economics of aid
Count A.P. (2011)
(from whom, to whom and
ries Growth and
with what effects) and the
(09 Development
normative economics of
Hours with Special
aid (how to allocate and
) deliver aid better); the
Reference to
relationships between Developing
these two sorts of financial Economies,
Palgrave.
  Ray, D.
flows. (2004)
Development
Economics,
OUP

 Todaro, M.P.
and S.C. Smith
(2003)
Economic
Development,
Land (tenancy, Pearson
shareholding, and Education.
Unit 4 property rights); Labour
Rural  Thirlwall,
(labour markets, shadow
Devel September 8 A.P. (2011)
wages, wage Lecture
opme 15- Growth and
determination); Migration and
nt (08 (equilibrium models, October 2, Development
discussio
Hours causes and consequences, 2023 with Special
n
) risk); Credit and micro- Reference to
finance (credit rationing, Developing
household credit, lending Economies,
to the poor). Palgrave.
 Ray, D.
(2004)
Development
Economics,
OUP

 Todaro, M.P.
and S.C. Smith
(2003)
Unit Industrialization, Economic
5: economic growth and the Development,
Indus industrial policy debate; Pearson
trial The experience of the East Education.
Policy Asian NICs: lessons and
9  Thirlwall,
and debates; Transfer of
A.P. (2011)
Techn technology and role of October 3- Lecture
Growth and
ologic multinational companies; October 19, and
Industrialisation and
Development
al 2023 Discussi
catch-up in the emerging with Special
Upgra on
economies: the BRICS and Reference to
ding Developing
beyond; Opportunities and
(09 Economies,
constraints for industrial
Hours Palgrave.
policy in the 21st century:
)  Ray, D.
internal and external
dimensions (2004)
Development
Economics,
OUP
 The impact of trade and  Todaro, M.P.
foreign investment on and S.C. Smith
growth, inequality and (2003)
poverty; variation in Economic
impact among countries 9 Development,
Unit with differing factor Pearson
6: endowments and Education.
Open institutions; policy and  Thirlwall,
ness non-policy barriers to A.P. (2011)
And October 20 Lecture
external economic Growth and
and
Devel linkages; criteria and – November Development
opme constraints in choice of 4, 2022 Discussi
with Special
nt (09 external (and related on
Reference to
Hours internal) economic Developing
) policies; industrial policy; Economies,
market access, Palgrave.
international and private  Ray, D.
rules governing trade; and (2004)
regional integration. Development
Economics,
OUP.
The concept of
service/experiential
Learning; A study of the  Todaro, M.P.
Unit causes, consequences and
7: and S.C. Smith
risk associated with
Educa migration for the rural (2003)
tion Economic
illiterates;  A study of the
and household finances of the
Development,
Devel rural Bangalore – lending Pearson
Introduct Education.
opme to the rural poor, rural ory
4  Thirlwall,
nt indebtedness, role of Lecture
Throu micro-finance. A.P. (2011)
November 5- and Growth and
gh November Discussi Development
Com Field Visit to a rural 10, 2022 on on
munit village to engage in with Special
Service Reference to
y Service Learning activities Learning Developing
Partic (for example, to interact
ipatio with villagers and Economies,
Field visit
n understand the functioning Palgrave.
of Self-help groups,  Ray, D.
(4 (2004)
hours) savings, microfinance
amongst poor households Development
and so on) Economics,
OUP.
SECTION III
Assessment outline:
Assessment Mark
Description
Component s
CIA I Test / Assignment 10%
Mid Semester written examination conducted for 2 hours
CIA II duration. Modules and topics will be decided based on the 25%
progress of the coverage of the portions.
Group Assignment on Minor projects. The class will be
CIA III divided into various groups and assigned a topic each. 10%

End Semester
Written examination conducted for 3 hours duration. All units. 50%
Examination
Attendance 05%
Total 100%

CIA- CIA-II CIA- ES

Learning Outcomes of the course
IA MSE III E

LO1: Understand the mechanics and drivers of economic

Y Y N Y
growth of countries

LO2: Understand the main causes for the glaring

Y Y N Y
disparities between rich and poor countries

LO3: Apply theories and approaches of Development

Economics to define and address issues of economic Y Y Y Y
growth, poverty and inequality

LO4: Better understand the real world challenges to

development issues, financial inclusion, microfinance and
N N Y Y
other areas of rural development through service learning
village exposure trips

SECTION IV
Assessment Description:
Individual Assignment Details

CIA-I

Title: Test - Descriptive

Portion: Unit I - Theories of Growth and Development

Time Duration: 1 hour

Marks: 20

Date : August 05th of August 2022

Description:

Test consisting of two questions with ten mark each to test the knowledge and understanding
of theories of growth and development

Mapping the Learning Outcomes with components of the evaluation rubrics:

Learning Outcomes of the Method of Component of the evaluation
assignment assessment rubrics

Each right answer will get 10

Able to understand the growth theories Written Test
marks

To foster analytical bend of mind in Each right answer will get 10

Written Test
the students marks
Or

Tittle: Assignment

Students will get a topic incorporating the economic development concepts that are dealt in
the course. Students have to examine the case thoroughly. Highlight relevant facts and key
problems. Find possible solutions and select the best solution.
Evaluation Rubric/s:

Criterion Strong (3-4) Average (1-2) Weak (0)

Identificatio Identifies and Identifies and Identifies and demonstrates
n of Main demonstrates a demonstrates an acceptable understanding of
Issues/Probl sophisticated accomplished some of the issues/problems
ems understanding of the understanding of most in the case study.
main of the issues/problems
issues/problems in
the case study.

Analysis and Presents an Presents a thorough Presents a superficial or

Evaluation insightful and analysis of most of the incomplete analysis of some
of thorough analysis of issues identified, of the identified issues;
Issues/Probl all identified missing some omits necessary details
ems issues/problems; necessary calculations
includes all
necessary
calculations

Recommend Supports diagnosis Supports diagnosis Little or no action suggested

ations on and opinions with and opinions with and/or inappropriate
Effective strong arguments limited reasoning and solutions proposed to the
Solutions/Str and well-‐ evidence; presents a issues in the case study.
ategies documented somewhat one-‐sided
evidence; presents a argument;
balanced and critical demonstrates little
view; interpretation engagement with
is both reasonable ideas presented
and objective.

Mapping the Learning Outcomes with components of the evaluation rubrics:

Learning Outcomes Method of assessment Component of the evaluation

of the assignment rubrics

LO1: Able to Identification of the main Identification of Main

understand the issues/problems in the case Issues/Problems; Analysis and
growth theories/ study and a thorough analysis Evaluation of Issues/Problems.
economic issues. of the identified issues and
problems

LO2: To foster Diagnosis and opinions Recommendations on Effective

analytical bend of with strong arguments Solutions/Strategies; Links to Course
mind in the students and well-‐documented Readings and Additional Research
evidence; balanced and
critical view; Reasonable
and objective interpretation

CIA II

Mid Semester Examination (19th Sep -25th September, 2022): Written theory exam for 50
Marks. Duration of the exam is 2 hours.

Exam Pattern will be decided by the Department later.

CIA III
Group Assignment: Minor Project
Topic: Empirical Analysis and group presentation on topics assigned
Assignment description:
This will be a group activity. The groups will each comprise of 5 members. Topics will be
assigned right after the mid-semester exam. Each group should conduct a small empirical
study and present their findings in the class and also submit a report of their study. The first
page of the report should have the title of the project, name of the group members with
register number. The report should contain introduction, method, analysis, findings and
conclusion. At the end of the report include all the references in APA style. Font: Times New
Roman, Size: 12, 1.5 line spacing, 1-inch margins. The report should not exceed 2500 words.
Submission Deadline: 2nd November 2023
Learning outcomes:
 To improve the ability to connect the theoretical understanding with real world
development issues.
 To develop analytical and problem solving skills amongst the students.

Evaluation Rubrics:
Criteria Good (4-5) Fair (2-3) Poor (0-1)
Methodological Identifies a suitable and The methodology is not Fails to identify any
clarity appropriate methodology to right or appropriate to methodology to
analyse the problem analyse the problem analyse the problem

Analytical Demonstrated sophisticated Good understanding of the Insufficient or

Thinking understanding of the impact robustness of results, but erroneous explanation
of assumptions, parameters, robustness still vulnerable to of the result
and robustness of the results the way the analysis was
presented, and the done.
robustness of the result is
very high

Organisation The report is well organised Report is somewhat Report lacks logical
and adherence in a consistent and logical organised but lacks organisation and
to format manner and adhere to the consistency and logic and doesn’t follow the
guidelines given guidelines partially adhere to the guidelines
guidelines

Mapping the Learning Outcomes with components of the evaluation rubrics:

Learning Outcomes of the Method of Component of the evaluation

assignment assessment rubrics

LO1: To improve the ability to Introduction and Rationale for

Group
connect the theoretical understanding selection of the methods of
presentation
with practical economic problems analysis; Analytical skill

Methodological rigor; Analytical

LO2: To inculcate research skills Group
skill; Organisation and adherence
among the students. presentation
to format guidelines