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JOHN CABOT UNIVERSITY
COURSE CODE: "EC 341"
COURSE NAME: "Economics of Development"
SEMESTER & YEAR:
Spring 2026
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SYLLABUS
INSTRUCTOR:
Matteo Caravani
EMAIL: [email protected]
HOURS:
MW 4:30 PM 5:45 PM
TOTAL NO. OF CONTACT HOURS:
45
CREDITS:
PREREQUISITES:
Prerequisites: Junior Standing, EC 201, EC 202
OFFICE HOURS:
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COURSE DESCRIPTION:
The course focuses on the economics of development, with specific reference to developing countries. While drawing extensively on the tools of standard economic theory, it deals with development issues for which economic theories at best provide only partial answers. It offers a problem-oriented approach, with a historical and institutional perspective, to issues such as poverty, population, income distribution, international trade, investment, aid, and the debt problem.
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SUMMARY OF COURSE CONTENT:
The course has an historical approach that debates several and diverse economic theories of development, ranging from the paradigm of modernization that emerged after World War II to its critique with the idea of dependency theory and world-scale analysis that emerged in the 1970s. The course also introduces the neoliberal development theory through the structural adjustments programmes that provided a different idea of development which was mainstreamed in the 1980s. Finally, the course presents the critical economic development literature that has emerged against the neoliberal orthodoxy implemented by state and international actors.
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LEARNING OUTCOMES:
On completion of this course, students should: a) gain critical understanding of the root causes of developing countries’ “underdevelopment” and the reasons why they stay poor; b) demonstrate knowledge of key concepts such as development and poverty, and the difference between a developed and a developing country; c) acquire a more diverse understanding of how development economics is understood differently by states, people and the international aid industry.
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TEXTBOOK:
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REQUIRED RESERVED READING:
RECOMMENDED RESERVED READING:
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GRADING POLICY
-ASSESSMENT METHODS:
| Assignment | Guidelines | Weight |
| First Review | The first review will focus on the first part of the course and students will respond to 3 written open questions in class. | 45 |
| Oral Presentation | Students will deliver a 20 minutes class presentation on a topic in agreement with the instructor. | 15 |
| Second Review | The second review will focus on the second part of the course and students will respond to 3 written open questions in class. | 25 |
| Attendance and Participation | Attendance and participation are mandatory for this class. The instructor will occasionally check on this particular aspect by asking questions related to the assigned readings and ensuring that students are able to raise critical questions and expose their responses to the readings. More than six unjustified absences will result in a failure to pass the course. | 15 |
-ASSESSMENT CRITERIA:
AWork of this quality directly addresses the question or problem raised and provides a coherent argument displaying an extensive knowledge of relevant information or content. This type of work demonstrates the ability to critically evaluate concepts and theory and has an element of novelty and originality. There is clear evidence of a significant amount of reading beyond that required for the course.
BThis is highly competent level of performance and directly addresses the question or problem raised.There is a demonstration of some ability to critically evaluatetheory and concepts and relate them to practice. Discussions reflect the student’s own arguments and are not simply a repetition of standard lecture andreference material. The work does not suffer from any major errors or omissions and provides evidence of reading beyond the required assignments.
CThis is an acceptable level of performance and provides answers that are clear but limited, reflecting the information offered in the lectures and reference readings.
DThis level of performances demonstrates that the student lacks a coherent grasp of the material.Important information is omitted and irrelevant points included.In effect, the student has barely done enough to persuade the instructor that s/he should not fail.
FThis work fails to show any knowledge or understanding of the issues raised in the question. Most of the material in the answer is irrelevant.
-ATTENDANCE REQUIREMENTS:
ATTENDANCE REQUIREMENTS AND EXAMINATION POLICY
From one to four more absences will reduce the participation score by 5% for each absence. More than six total absences will result in the overall F.
You cannot make-up a major exam (midterm or final) without the permission of the Dean’s Office. The Dean’s Office will grant such permission only when the absence was caused by a serious impediment, such as a documented illness, hospitalization or death in the immediate family (in which you must attend the funeral) or other situations of similar gravity. Absences due to other meaningful conflicts, such as job interviews, family celebrations, travel difficulties, student misunderstandings or personal convenience, will not be excused. Students who will be absent from a major exam must notify the Dean’s Office prior to that exam. Absences from class due to the observance of a religious holiday will normally be excused. Individual students who will have to miss class to observe a religious holiday should notify the instructor by the end of the Add/Drop period to make prior arrangements for making up any work that will be missed. The final exam period runs until May 8th
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ACADEMIC HONESTY
As stated in the university catalog, any student who commits an act of academic
dishonesty will receive a failing grade on the work in which the dishonesty occurred.
In addition, acts of academic dishonesty, irrespective of the weight of the assignment,
may result in the student receiving a failing grade in the course. Instances of
academic dishonesty will be reported to the Dean of Academic Affairs. A student
who is reported twice for academic dishonesty is subject to summary dismissal from
the University. In such a case, the Academic Council will then make a recommendation
to the President, who will make the final decision.
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STUDENTS WITH LEARNING OR OTHER DISABILITIES
John Cabot University does not discriminate on the basis of disability or handicap.
Students with approved accommodations must inform their professors at the beginning
of the term. Please see the website for the complete policy.
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SCHEDULE
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Weekly Themes and Key Readings
Week 1 – Theories of Modernization
Class 1
General introduction to the course, students’ expectations and their background, roles and responsibilities.
Class 2
• Walter Rostow, Stages of Economic Growth
Week 2 – Dependency Theory
Class 3
• The Prebisch-Singer hypothesis: Four centuries of evidence
Class 4
• Samir Amin, Eurocentrism or Alexander Gerschenkron, Economic Backwardness in Historical Perspective
Week 3 – World System Analysis
Class 5
• Immanuel Wallerstein, World System
Class 6
• Theda Skocpol, Wallerstein’s World Capitalist System: A Theoretical and Historical Critique
Week 4 – Underdevelopment and Colonialism
Class 7
• Walter Rodney, How Europe Underdeveloped Africa
Class 8
• Aime Cesaire, Discourse on Colonialism
Week 5 – SAP and Neoliberalism
Class 9
• Elliot Berg, Accelerated Development in Sub-Saharan Africa: An Agenda for Action
Class 10
• David Harvey, A Brief History of Neoliberalism
Week 6 – Different Perspectives on Development Economics
Class 11
• Hernando De Soto, The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else
Class 12
• Thandika Mkandawire, Can Africa turn from Recovery to Development?
Week 7 – Shock Therapy
Class 13
• Joseph Stiglitz, Globalization and its Discontents
Class 14
• First Review
Week 8 – Politics of Development and International Aid
Class 15
• Thandika Mkandawire, Neopatrimonialism and the Political Economy of Economic Performance in Africa Critical Reflections
Class 16
• James Scott, Seeing Like a State
Week 9 – Debt and Developmental State
Class 19
• David Graber, Debt or Joseph Stiglitz, Some Lessons from the East Asian Miracle
Class 20
• Presentations
Week 10 – International Aid and Development
Class 21
• Amartya Sen, Development as Freedom
Class 22
• Dambisa Moyo, Dead Aid
Week 11 – Politics of Development and International Aid
Class 23
• James Ferguson, Anti-Politics Machine
Class 24
• Presentations
Week 12 – The Economics of Famine
Class 23
• Alex De Wall, Stephen Devereux, Dan Maxwell and Paul Howe
Class 24
• External Presentation
Week 13 – The Demise of USAID
Class 25
• Matteo Caravani, The Demise of Usaid: a revolution against the wretched of the earth
Class 26
• Presentations
Week 14 – Finance and Development
Class 27
• Daniela Gabor, The Wall Street Consensus
Class 28
• Second Review
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