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JOHN CABOT UNIVERSITY
COURSE CODE: "EC 341"
COURSE NAME: "Economics of Development"
SEMESTER & YEAR:
Spring 2015
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SYLLABUS
INSTRUCTOR:
John Westley
EMAIL: [email protected]
HOURS:
MW 1:30 PM 2:45 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:
Part I of the course covers broad patterns of development, reviews theories of growth and development, discusses the respective roles of the state and markets, assesses issues of inequality and poverty and introduces the issue of sustainability. Part II takes a sectoral approach, covering population, education, health, agriculture, primary exports and trade. Part III focuses on macroeconomic issues in development, including saving and resource mobilization, financial policy, foreign aid, and foreign debt and financial crises. A paper of 7-9 pages will be required.
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LEARNING OUTCOMES:
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By the end of the course, students should be able to identify the key elements of effective economic development policy as it relates to environmental sustainability (in developing countries generally) and development in Africa. They should be able to specify why those policies are more likely to lead to sustainable development than are alternative policies based on 1) arguments from populist or nationalist politics or 2) economic arguments inappropriate to the country’s income level, ecology, structure and potential. They should have developed skill in the critical analysis and presentation of these arguments (both in writing and orally) through careful study, through active class participation and through preparation of a paper arguing forcefully and convincingly for a particular position.
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TEXTBOOK:
| Book Title | Author | Publisher | ISBN number | Library Call Number | Comments | Format | Local Bookstore | Online Purchase |
| Economics of Development, Seventh Edition | Dwight H Perkins, Steven Radelet, David L Lindauer and Steven A Block | W W Norton | 978-0-393-93435-9 | | | | | |
| African Development: Making Sense of the Issues and Actors, Second Edition (AD) | Todd J Moss | Lynne Rienner | 978-1-58826-769-6 | | | | | |
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REQUIRED RESERVED READING:
| Book Title | Author | Publisher | ISBN number | Library Call Number | Comments |
| Emerging Africa: How 17 Countries Are Leading the Way (EA) | Steven Radelet | Center for Global Development | 978-1-933286-51-8 | | |
| Common Wealth: Economics for a Crowded Planet (CW) | Jeffrey D Sachs | Penguin | 978-1-59420-127-1 | | |
| The End of Poverty: Economic Possibilities for Our Time (EP) | jeffrey D Sachs | Penguin | 978-0143036586 | | |
| The Bottom Billion: Why the Poorest Countries Are Failing and What Can Be Done About It (BB) It | Paul Collier | Oxford University Press | 978-0-19-531145-7 | | |
| The White Man’s Burden (WM) | William Easterly | Penguin | 978-0-14-303882-5 | | |
RECOMMENDED RESERVED READING:
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GRADING POLICY
-ASSESSMENT METHODS:
| Assignment | Guidelines | Weight |
| Exam I | Exam covering first part of course | 20 |
| Exam II | Exam covering second part of course | 20 |
| Final Exam | Final exam (cumulative, but emphasizing last part of course) | 40 |
| Paper | Paper assessing the development performance and prospects of a particular African country (8-10 pages). | 20 |
-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. 90-93 A-; 94 -100, A.
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. 80-83, B-; 84-86, B; 87-89, B+.
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. 70-73, C-; 74-76, C; 77-79, C+.
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. 60-63, D-; 64-66, D; 67-69, D+.
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. Below 60 is failing.
-ATTENDANCE REQUIREMENTS:
| Students are strongly encouraged to attend and are responsble for all material covered in class. Students are expected to do the readings before class and participate actively in the lecture as part of their own learning experience. |
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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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| PART I: PERSPECTIVES ON SUSTAINABLE DEVELOPMENT |
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| Week 1 (January 19, 21) |
Patterns of Development |
Text 1-3; CW 1; AD 1, 6; EA 1, 2, 4 |
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| Week 2 (January 26, 28) |
Theories of Economic Growth |
Text 4; EP 3 |
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| Week 3 (February 2, 4) |
States and Markets, Inequality and Poverty |
Text 5, 6; BB 1, AD 10, CW 10 |
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| Week 4 (February 9, 11) |
Environmental Sustainability and Development |
Text 20; CW 2, 3 |
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| Week 5 (February 16, 18) |
Environmental Sustainability and Development (continued); Exam 1: Part I |
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| PART II: SECTORAL ISSUES |
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| Week 6 (February 23, 25) |
Population, Education |
Text 7, 8; CW 7. 8 |
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| Week 7 (March 2, 4) |
Health, Agriculture |
Text 9, 16; EP 10 |
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| Week 8 (March 9, 11) |
Agriculture, Trade and Development |
Text 17, 18 |
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| Week 9 (March 16, 18) |
Trade and Development |
Text 19; AD 12, BB 6, 10 |
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| Week 10 (March 23, 25) |
Exam 2: Part II; begin Part III, Investment and Savings |
Text 10
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| PART III: MANAGING AN OPEN DEVELOPING ECONOMY |
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| Week 11 (March 30, April 1) |
Fiscal Policy, Financial Development and Inflation |
Text 11, 12 |
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| Week 12 (April 13, 15) |
Foreign Debt and Financial Crises, Foreign Aid |
Text 13, 14; AD 7, 8, 9, CW 11, BB 7, WM 2 |
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| Week 13 (April 20, 22) |
Foreign Aid; Managing Short-Run Crises in an Open Economy |
Text 14, 15 |
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| Week 14 (April 27, 29) |
Presentations, Review |
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Final Exam: Cumulative, but emphasis on Part III; see university schedule for date and time |
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