Catalog Course Description: EC410: Economics of Growth and Development - Survey of the major economic and non-economic problems of developing nations; consideration of national and international policy for economic development.

Office Phone: 677-5620, E-mail: rbrown@usd.edu

The title of this course is The Economics of Growth and Development. This course will involve a variety of teaching methods. Some of it will involve the standard "chalk and talk" approach (lecture), some of it will involve a seminar approach where the students and professor will discuss a topic, and some of it will involve student presentations. The textbooks are Economic Growth by Weil and The Elusive Quest for Growth:  Economists' Adventures and Misadventrures in the Tropics by Easterly.  The Weil book will be used as a reference.  Some of it will be covered but not the complete book.  Some on my students have already read the Easterly book, but since I will refer to it quite a bit I think everyone should be on the same page.  Furthermore, it bears rereading.     

This course will involve substantial student involvement. 

AFRICA - SUB-SAHARAN

EAST ASIA & THE PACIFIC

EUROPE & CENTRAL ASIA

LATIN AMERICA & CARIBBEAN

MIDDLE EAST & NORTH AFRICA

SOUTH ASIA

The group will collect data on each country in their region and make comparative analyses. You will learn about various world databases and how to access them (more later). In particular, for each region the group will choose a fast-developing country and a slow-growing country and do a comparative analysis of the two countries. The intent being to gain some insight as to the factors that contribute to development. Also, each group will participate in the preparation of weekly newsletter featuring a different country each week. (More on that below) Finally, each group will be responsible for a weekly 10-minute update on their region. In that way, other groups can learn about different parts of the world.

Lab Exercises  - Weil book provides a database on a wide variety of variables for 150 countries.  It also includes a data plotter with access to this data base.  

The lab exercises that each group will be responsible for is:

http://wps.aw.com/aw_weil_econgrowth_1/0,9337,1443513-,00.html

Your first group lab exercises is Lab1 1A, Excel version.  Each group is required to do the lab exercises and compile a notebook with your work.  On the day it is due, I will choose a group to present their assignment to the class.     

    1.    Data and mathematics of growth

1. GDP and PPP. Weil Ch 1 and 2. Easterly Ch 1.
2. Current standard of living by country and region of world.
3. Calculating growth. Weil Ch 1.

2. Growth theories

1. Adam Smith
2. Malthus and Ricardo
3. Marx
4. Schumpeter
5. Harrod-Domar model -  Easterly, Ch 1 and 2.
6. Harrod-domar model only.pdf 
1. Solow growth - Weil Ch 3, 6, 7, 8, 9, and 10.  Easterly, Ch 3.
2. Modern growth theory - Easterly, Ch 8, 9, and 10.

    3.    World agencies to promote growth and development

1. UN
2. IMF
3. World Bank
4. Other

    4.    The role of government.  Weil Ch 12.  Easterly Ch 11 and 12.

    5.     Income Inequality.  Weil Ch 13.

    6.    Culture.  Weil Ch 14.  Easterly Ch 13.

    7.    Geography.  Weil Ch 15.  Jeffrey Sachs paper on Geography and Economic Development.          See graphs pp 52-61

            http://www2.cid.harvard.edu/hiidpapers/geoecd.pdf

    8.    The Millenium Project.  http://www.unmillenniumproject.org/

            Goals

            http://www.unmillenniumproject.org/goals/index.htm

            Sachs article in Time.                

 http://www.unmillenniumproject.org/documents/TimeMagazineMar142005-TheEndofPovertysmall1.pdf  

            Easterly Ch 5, 6, 7, 10, 14.              

            http://www.nyu.edu/fas/institute/dri/Easterly/File/reliving%20the%2050s%20big%20push.pdf   

2. Development Strategies

1. early postwar approaches
2. planning - socialist, communist models
3. dependency theory -ISI
4. export-led
5. Washington consensus - neoliberal
6. Globalization
7. Millenium Challenge and Sachs. 
8. Foreign aid

Class Website this was developed by students who took this course about 5 years ago.  http://courses.usd.edu/econ410001/index.shtml

The Website for the Weil book, Economic Growth is: 

http://wps.aw.com/aw_weil_econgrowth_1/0,9337,1443512-,00.html

The database we will use which provides detailed data for over 150 countries is:

http://wps.aw.com/aw_weil_econgrowth_1/0,9337,1443702-,00.html

Another good site for comparison of countries and regions

http://www.worldbank.org/data/databytopic/keyrefs.html

Discussion of PPP adjustment called What's Your Money Worth?

http://www.worldbank.org/data/ppp/index.htm

A good site for maps is

http://www.lib.utexas.edu/maps/index.html

Another Good Map Site with Country Insets

http://www.theodora.com/maps/

Power Point Presentations World Bank

http://www.worldbank.org/research/growth/present.htm

Another good source on individual country data is the CIA World Factbook 2001. This is also a good site for maps.

http://www.odci.gov/cia/publications/factbook/

Another good site for short description of a country is

http://www.un.org/Pubs/CyberSchoolBus/infonation/e_glance.htm

This is the World Bank Development site

http://www.worldbank.org/knowledge/index.htm

This is the World Bank Economic Growth site

http://www.worldbank.org/research/growth/

This is the Index of Economic Freedom

http://www.heritage.org/index/

Cobb-Douglas Production example\

Solow Model http://www.fgn.unisg.ch/eumacro/IntrTutor/appsolowpc.html

Commanding Heights Website 

http://www.pbs.org/wgbh/commandingheights/index.html