Module description
This module introduces students to the tools and concepts of economics, and their application to emerging economies and economic development. While core concepts of economic analysis apply at any level of development, the economies of low- and middle- income countries differ in important ways from those of rich developed countries. They tend to be more volatile, and have large informal and traditional sectors, numerous market frictions, limited financial markets, and high levels of inequality. In Term 1, students will learn the analysis of goods and labour markets, including the roles of competition and monopoly, and other market imperfections. Term 2 completes the module, continuing with the analysis of market imperfections and introducing the finance sector and the relationships between unemployment, inflation, fiscal policy and interest rates in open economies.
Assessment details
Semester 1:
- Formative Assessment (0%)
- 1,500 Word Essay (25%)
Semester 2:
- 1,500 Word Essay (25%)
- 2 Hour Examination (50%)
Educational aims & objectives
This module aims to:
- Introduce and to orientate students to the key concepts and debates in the study of development.
- Introduce students to understandings of 'development' with reference to developing countries and emerging economies.
- To develop students understandings of key concepts relating to the question of what is 'development' including differing visions of development and understandings of what is a developing country as well as how development is measured and debates over foundational concepts of poverty and inequality in developing countries.
- To introduce students to key contemporary policy debates including the questions of defining and pursuing sustainable development, the role of foreign aid in development, debates on governance and globalisation.
Learning outcomes
On completion of this module, students will be able to:
- Students will be able to critically engage at an introductory stage with key concepts relating to: 'development', 'developing country', 'emerging economy', 'poverty, 'inequality'
- Students will be able to critically engage at an introductory stage with key contemporary development policy debates with reference to sustainable development, the role of foreign aid in development, debates on governance and globalisation and development.
- Students will be able to begin to apply such concepts to development in emerging economies in particular.
- Students will be able to begin to make use of the various data sources and limitations for data on development.
- Students will be able to begin to understand trends and extent of 'development' in its various dimensions.
Teaching pattern
20 x 2 hr lecture
20 x 1 hr seminar