EC335 Strategies Of Economic Development Notes | Assignment Help | Syllabus
Country: United Kingdom
University: University Of Essex
This session looks at the characteristics of economies in developing nations and introduces you to the literature that seeks to explain why poverty persists in such economies. To understand why there has been a difference in performance between industrialized and emerging nations, we begin with a historical study of the development process.
The significance of institutions and incentives in influencing long-run economic growth will be discussed later in the module. We’ll look at market flaws, non-market institutions (including social norms), and governance institutions in particular. For example, credit restrictions (which are a characteristic of imperfect financial markets), wealth inequality within an economy, and government expenditures in education may all influence impoverished people’s capacity to acquire skills (which in turn may be determined by particular political institutions).
To explain observable phenomena such as child labor, excessive wealth and income inequality, and rapid population growth, the module integrates economic theory with case studies. The process of evaluating and determining suitable policy choices is given special emphasis.
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