EC6002A - Development Economics and Emerging Markets (2017/18)
|Module specification||Module approved to run in 2017/18|
|Module title||Development Economics and Emerging Markets|
|Module level||Honours (06)|
|Credit rating for module||15|
|School||Guildhall School of Business and Law|
|Total study hours||150|
|Running in 2017/18||
This module focuses on the causes and consequences of uneven patterns of growth and development; structural features that are typical of the economies in developing countries; policies that can be applied in less developed countries and how to measure their effects. The course delivers a general overview of influential views, and the latest state of the art research on economic development. An important effort is made in this course to link theory and empirical evidence. After reviewing the traditional and contemporary views on economic growth and development from a macroeconomic standpoint, the course will deliver a detailed explanation of the role of health & education, population growth, microfinance, in terms of promoting and sustaining economic growth in developing countries.
Prior learning requirements
Equivalent of 30 credits of Microeconomics at level 5
The module aims to provide students with:
- a systematic knowledge and understanding of economic development issues, including a critical awareness of current issues in the subject and the available evidence;
- an ability to apply economic principles and analysis in a variety of settings including in policy formulation and in an economic development context;
- a range of transferable and subject-specific skills that will be of value in employment and self-employment;
- an appreciation of the economic-social-political dimensions of wider human development issues in an interdependent globalised world.
It also aims to develop students' skills, in particular: academic study skills; self-assessment and reflection; subject research; data analysis; literacy; applied analysis; and critical thinking.
Economic development- different definitions
Traditional and Contemporary theories of economic development- overview of the main theories of economic development. Such theories can help us understanding why countries have different level of development
Poverty and Inequality- definition, measurement and impact on development outcomes.
Environment-in particular the resource curse, so the effect that relying on natural resource production has on economic development.
Human Capital- definition, measurement of health and education. Evolution of education and health standard over time. Benefits of promoting education and health.
Credit and Microfinance
Aid and Trade
Learning and teaching
Students’ learning is organised around direct contact time with the teaching team, and refective independent learning. The direct contact time takes place through lectures, seminars and group workshops. Students are expected to complement this 'formal' learning activity with further reading of the material suggested in the teaching sessions, solving realistic business problems using economic analysis, research, writing, planning and preparation for presentations, class tests, and the final exam.
Student contact time will normally be 3 hours per week. Lectures will typically be around 2 hours duration and will deliver core subject knowledge in development economics. As this module emphasises the development of theory, policy and application a whole-group workshop of around 1 hour will provide examples of how to use economics to understand and analyse development problems. In the 1 hour seminar the emphasis is on student learning through participation, formative feedback and active learning.
The contact time with teaching teams will be organised around a range of learning activities including active learning to acquire knowledge and understanding, problem solving, problem based learning, presentations, analysis of case studies, group reading and analysis of research papers, discussion of policy issues and debate.
Professional and transferable skills are developed in lectures and seminars, and through independent directed learning and assessment. Skills development is enhanced through problem solving and problem based learning practiced in seminars.
The module makes extensive use of blended learning through use of virtual learning environment platforms (WebLearn, Publisher E-resources) in which module lecture material, course handbooks,test questions, previous assessment with feedback, and other material is placed. The mode of delivery of lectures is based on an interactive approach to encourage student engagement and to enhance learning outcome. Other ICT resources include links to key web resources such as Government departments, and research institutes.
On successful completion of this module students will be able to:
demonstrate a broad knowledge and understanding of
a. economic theory and practice and
b. of the factors that contribute to or impede development
- explain how economic policies and factor endowments influence pattern of development in any given country/region, and appreciate the significance of structural transformation in developing countries;
- apply a range of specialist skills to the organizations in which they as specialists may operate, including the application of analytical or quantitative techniques;
- marshal evidence and assimilate, structure, analyse and evaluate qualitative and quantitative data to understand and critically evaluate policy issues in the subject;
- demonstrate planning, communication, self-management, time-management, and self-presentation skills.
Coursework will be used through the module to develop students learning and understanding. Also students will periodically review the assessment of other students. One of the benefits of this reflective learning will be to raise performance in future assessment.
The final examination is 2 hours. The exam will assess the student’s knowledge and understanding of development economics and emerging markets covering theory, issues, policy and application; ability to apply and to critically assess what they learn directly to organizations; ability to marshal evidence, both qualitative and quantitative, and to understand and critically evaluate policy issues in the subject. In the previously seen section students will write up previously prepared answers to questions. The exam questions in both parts will address the underlying principles or issues of the subject matter or provide solutions to technical questions.
Attendance data is collected by lecturers and tutors which is added to Evision and this information will constitute the main element of the attendance/participation mark.
Todaro, M. and Smith, S. (2009) Economic Development, Prentice Hall (henceforth: TS).
Other important texts for the course include:
Ray.D (1998) Development Economics, Princeton: Princeton University Press.
Weil, D. (2009) Economic Growth, 2d Edition (henceforth: DW), New York: Addison Wesley.
Easterly, W. (2001) The Elusive Quest for Growth: Economists’ Adventures and Misadventures in the Tropics Cambridge, MA: MIT Press, (henceforth: WE),
In addition we will rely heavily on journal articles. A complete understanding of all technical aspects is not required and we will highlight those that are important. However students are expected to master and be able to explain the intuition behind the content and conclusions of selected papers. While lecture slides will be available on WebLearn, they are being presented as an aid to learning and not as a substitute.