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ECN6001 Development Economics

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University of Sheffield Department of Economics ECN6001 ECN6001 Development Economics Personnel Module leader Abrar Suleiman Contact details Room MB416 Economics and Management Building C&F Times: Tuesday 15 – 16; Thursday 14 – 15 Email: [email protected] Tutor Abrar Suleiman Prerequisites Intermediate microeconomics and macroeconomics Module Aims and Objectives Aims To develop a critical awareness of the distinctive features of economic problems in developing countries in the context of an increasingly globalized world. To provide a rigorous application of the principles of economic theory to the problems of developing countries and global development. To develop an understanding of how economic theory and analysis can inform public policy debate on global development problems. The intended learning outcomes are that by the end of the module you should demonstrate An understanding of the main factors determining the wealth and poverty of nations: the ability to analyse market structure and behaviour, both urban and rural, in developing countries: An understanding of how the economies of developing countries function and can be influenced by national and international policy and institutional reform Transferable Skills an array of problem-solving and analytical skills designed for careers in research and policy analysis. individual research and report-writing skills group discussions and presentation skills Timetable There will be 2 lectures per week: Thursday 10:00 – 10:50 MB SR 119 Thursday 11:00 - 11:50 MB SR 119 Starting week 4, there will be seminars, which is timetabled Thursday 12:00 - 12:50 MB SR 119 Seminars are largely orientated towards student-led discussions on essay themes. Plus other sessions as needed. University of Sheffield Department of Economics ECN6001 Student Responsibilities This is a 15 credit module and therefore it is expected it will require 150 study hours per student (including formal teaching hours). As a rough guideline this means you should expect to devote about 10 hours of study time per week to this module during a 15 week semester. Attendance at all lectures and seminars is compulsory and will be monitored. Draft schedules about seminars will be placed on MOLE at least one week prior to the seminar. Students should make use of staff consultation and feedback times to discuss any issues they have with the module and which are not resolved in lectures or seminars Assessment The assessment of this module will be by unseen exam (50%) and an essay (50%). By end of week 3, students are required to give their tentative topic for the essay and their preferred date for seminar presentation to the lecturer. Note that presentation at one of the seminars is a compulsory part of the module. Details about the essay including a list of suggested topics will be available no later than 12 October 2011. The submission date for essay is Monday 10 December 2011. The word limit must not be exceeded 3000. Note that the word limit is intended as a signal of intended effort and so a 10% margin is acceptable. Coursework must always be submitted in hard copy to the Enquiry Office, and by no later than 3.00pm on the day of the deadline. Unauthorised late submissions will incur a penalty of 5% of the mark per day for 5 working days and after that a mark of zero. A Turnitin submission should be made within 5 working days of the paper copy deadline. Failure to submit an assessment to Turnitin by this date will lead to a zero mark for the assessment. Marked coursework will be returned within 3 working weeks. The exam will be two hours in length. A specimen paper will be placed on the module website The pass mark for this module is 50% overall and there is a minimum mark required for every component of 40%. Any change to assessment arrangements will be announced in lectures and also via the website. Reassessment In the case of students who fail the assessment of this module, repeat assessment will be by examination and/or repeat coursework depending on the nature of any failure . Resit marks will be capped at 50%, Resit candidates must consult the website for further information, up until the time of the reassessment, not merely in semester time. Website Students must read the module website on MOLE regularly. The header on the homepage will indicate new posts but students should also check regularly for announcements. All the information in this outline, as well as assessment information will be available on the website. Lecture notes will be posted usually before lecture. University of Sheffield Department of Economics ECN6001 Student Feedback The module website has a Module Feedback Report which gives a detailed account by the module leader of the student experience on this module last year. Soon after coursework is returned to students, general feedback will be given on the website on performance in the coursework, in addition to the individual feedback given on the pink cover sheet which accompanies returned coursework. Course Outline In this module, we shall not follow any particular book. Specific chapters from the following books are given after each lecture. Basu, Kaushik (1997) “Analytical Development Economics”, Cambridge, MIT press. P. Bardhan and C. Udry (1999) Development Microeconomics, Oxford: Oxford University Press. R. Barro and X. Sala -I- Martin, (1995), Economic growth, New York/London: McGraw-Hill, 1995. Ray, Debraj (1998), Development Economics, Prineston University Press. G. Meier and J. Rauch (2000) Leading Issues in Economic Development, Oxford University Press. (latest edition of 2005 can be used) You may consult the following resources at different parts of the course: Handbook of development economics, various issues. World Development Reports, of various issues are essential, especially for the second part of this module involving some issues such as 19990 and 2000/01 on poverty, 1993 on health, and 1997 on governance. 2004/2005 on pro-poor and equity and 2008 on agriculture on development. UNDP’s Human Development Report, various issue. Essential are: HDR 2003 (on Millennium Development Goals); HDR 1990 and 2010 (on concepts and measurements of poverty, HDI and the new Multidimensional Poverty Index); HDR 1997 on poverty Note that these are just indicative rather than exhaustive. Readings are subject to amendement and a list of important readings will be indicated as the course proceeds , and students are strongly advised to consult these readings. Lectures are divided into three broad themes: (I) Growth and Development: the grand issues; (II) Microeconomics of key markets and institutions,(III) policies and new perspectives. Part I: Growth and Development: grand issues Lecture 1: Introduction and background Basu (1997), chapter 1 Debraj (1998), chapter 1 & 2 Bahrdan and Udry (1999), chapter 1 Mier and Rauch (2000), chapter 1 University of Sheffield Department of Economics ECN6001 Further Reading: United Nations Development Program, Human Development Report 2006 (New York, Oxford university press, 2006, Table 1) UNDP’s Human Development Report, HDR 2003 (on Millennium Development Goals) Richard Layard, happiness: lessons from a new science (New York, Penguin, 2005, page 5). UN Millennium Project, Investing in Development: A Practical Plan to Achieve the Millennium Development Goals, Main Report and MDG Needs Assessment, United Nations: New York, January 2005. Lecture 2: Growth and development models (1): ‘classical’ schools of thought Barro and Martin (1995), chapter 1-5 Basu (1997), chapter 2 & 3 Debraj (1998), chapter 3 & 4 Mier and Rauch (2000), chapter 3 & 4 Further Reading: W.A. Lewis, ‘Economic development with unlimited supplies of labour’, Manchester School, 1954. Symposium in Manchester School to celebrate 50th anniversary of the Lewis model, December 2004. Lecture 3: Growth and development models (2): Growth theories and empirics Barro and Martin (1995), chapter 1-5 Basu (1997), chapter 2 & 3 Debraj (1998), chapter 3 & 4 Meier and Rauch (2000), chapter 3 & 4 Lecture 4: Trade and Growth: policy perspectives of globalization Basu (1997), chapter 4-6 Debraj (1998), chapter 16-18 Bahrdan and Udry (1999), chapter 14 Mier and Rauch (2000), chapter 4 Further Reading (lectures 3-4): (a) growth theories P. Romer, ‘Increasing returns and long-run growth’, Journal of Political Economy, vol. 94(1986), 1002-1037. Peter McAdam and Christopher Allsopp (eds.0 (2007) The Solow growth model, Oxford Review of Economic Policy, Vol. 23, No. 1, Spring 2007 (www.oxrep.oxfordjournals.org) (b) growth empirics: openness, growth and poverty World Bank, World Development Reports for 1990 (Poverty) and 2000 (Attacking Poverty) World Bank, Poverty Reduction Handbook, Washington 1993. R. Barro, ‘Economic growth in a cross-section of countries’, Quarterly Journal of Economics, vol. 106(1991), 407-443. R. Levine and D. Renelt, ‘A sensitivity analysis of cross –country growth regressions’, American Economic Review, vol. 82(1992), 942-963. W. Easterly et al. ‘Good policy or good luck? Country growth performance and temporary shocks’, Journal of Monetary Economics, vol. 32(1993), 459-483. J. Sachs and A. Warner, ‘Economic reform and the process of global integration’, Brookings Papers on Economic Activity, vol. 1(1995), 1-118. J. Sachs and A. Warner, ‘Sources of slow growth in African economies’, Journal of African Economies, vol. 6(1997), 335-377. S. Edwards, Openness, productivity and growth: what do we really know?’, Economic Journal, University of Sheffield Department of Economics ECN6001 vol. 108(1998), 383-399. P. Mosley, ‘Globalisation, economic policy and convergence’, The World Economy, vol. 23(2000), 613-634. D. Greenaway and others, ‘Trade liberalisation and growth in developing countries: some new evidence’, World Development, vol 25(1997, 1873-1885. World Bank, The east Asian Miracle, Washington DC 1993, chapter 3. Sala-i-Martin, X. - I just ran two million regressions, American economic review 87(2), 1997, p.187-183 Dollar, D. and Kraay, A. - Growth is good for the poor.
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    BETTER GROWTH BETTER CLIMATE The New Climate Economy Report THE GLOBAL REPORT THE GLOBAL COMMISSION ON THE ECONOMY AND CLIMATE PARTNERS Managing Partner September 2014 New Climate Economy c/o World Resources Institute www.newclimateeconomy.report www.newclimateeconomy.net 10 G St NE Suite 800 Washington, DC 20002, USA +1 (202) 729-7600 ISBN: 978-0-9906845-1-0 Photo credit: Asian Development Bank BETTER GROWTH BETTER CLIMATE The New Climate Economy Report THE GLOBAL REPORT The New Climate Economy The Global Commission on the Economy and Climate, and its flagship project The New Climate Economy, were set up to help governments, businesses and society make better-informed decisions on how to achieve economic prosperity and development while also addressing climate change. This programme of work was commissioned in 2013 by the governments of seven countries: Colombia, Ethiopia, Indonesia, Norway, South Korea, Sweden and the United Kingdom. The Commission has operated as an independent body and, while benefiting from the support of the seven governments, has been given full freedom to reach its own conclusions. The Commission’s programme of work has been conducted by a global partnership of eight leading research institutes: World Resources Institute (WRI, Managing Partner), Climate Policy Initiative (CPI), Ethiopian Development Research Institute (EDRI), Global Green Growth Institute (GGGI), Indian Council for Research on International Economic Relations (ICRIER), LSE Cities, Stockholm Environment Institute (SEI) and Tsinghua University. 2 www.newclimateeconomy.report The Global Commission on the Economy and Climate The Global Commission on the Economy and Climate has overseen the New Climate Economy project. Chaired by former President of Mexico Felipe Calderón, the Commission comprises former heads of government and finance ministers, and leaders in the fields of economics, business and finance.