ECO1103 Principles of Development Economics

ECO1103 Principles of Development Economics

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The course serves as a preliminary study for Development Economics. Development economics is one of the major sub – discipline of economics. Its emergence and rise to prominence coincided with independence movements that saw several South Asia and Sub – Saharan African breaking their governance relation from the European colonial masters. Unique structural and behavioral characteristics of the newly independent states provides firm ground for application of the traditional economic theories in diagnosis and prescription of solution to their development challenges. Therefore, development economic draws a framework for understanding socio – economic challenges in less developed economies of Africa, Latina America and Asia with the intention of evolving solutions to abject poverty, inequality, ill-health and illiteracy.  

Course Objectives

The course introduces the learners to the measures of development, characteristics of developing countries, growth theories, the challenges of economic development and the relationship of development with the social and physical infrastructure, Agriculture, Industry, Foreign Direct Investment, Aid and Trade.  The course also studies various countries’ experiences in the process of Economic Development. It further acquaints students with the theory and concepts of development, so that they are able to understand the process of economic development in among different economies.

Course Learning Outcomes
By the end of the course, students should be able to; 

  • Explain basic principles of Development Economics.
  • Apply the main theories and principles of economic development, particularly in relation to growth and poverty. 
  • Link theories/models of economic growth and development to practice in developing countries. 
  • Develop analytical skills relevant to the assessment of different economic development principles.  
  • To demonstrate the knowledge and skills acquired from the study of the main factors sustaining and limiting economic growth and development.