Development Economics
- Social Sciences
- 700 level
- 2 credit units
- 127 pages
- 12 units
This course on Development Economics provides an analytical approach to the economic problems of developing nations and efforts to bridge the gap between developed and developing countries. It covers fundamental concepts, measurement, determinants, and challenges of economic growth and development. Students will explore theories, models, and strategies, including sustainable development, capital formation, and the role of foreign trade. The course aims to equip students with a comprehensive understanding of development economics and its policy implications.
About this course
- Difficulty
- Intermediate
- Study hours
- 156 hours
- Maths
- Intermediate
- Content
- Theoretical, case study, problem solving
- Practical work
- No
- Principles of Economics
- Macroeconomics
- Assignments
- Tutor marked assessments
- Final examination
What you'll read
The real module and unit structure of ECO714, taken from the course material NOUN publishes.
One paragraph, so you can see how it reads
ECO714 · UNIT 1 ECONOMIC GROWTH AND DEVELOPMENT
In distance learning the study units replace the university lecturer. This is one of the great advantages of distance learning; you can read and work through specially designed study materials at your own pace and at a time and place that suit you best.
What you should be able to do
- Explain the key concepts of economic growth and development.
- Differentiate between economic growth and economic development.
- Discuss the major theories of economic growth and development.
- Analyze the role of capital formation and foreign trade in economic development.
- Evaluate the strategies for achieving sustainable development.
- Apply economic principles to analyze development challenges in developing countries.
What it prepares you for
- Economist
- Policy Analyst
- Development Consultant
- International Development Officer
- Research Economist
- Government Agencies
- International Organizations
- Consulting Firms
- Research Institutions
- Financial Institutions
Where it gets hard
The units students slow down on, and what makes each one heavy.
- MODULE TWO: SELECTED THEORIES OF ECONOMIC GROWTH AND ECONOMIC DEVELOPMENT
Unit 1: The Structural Growth Theory
The Structural Growth Theory requires understanding complex economic models and their assumptions, which can be challenging for students without a strong background in economic theory.
- MODULE TWO: SELECTED THEORIES OF ECONOMIC GROWTH AND ECONOMIC DEVELOPMENT
Unit 3: Neoclassical Growth Model
The Neoclassical Growth Model involves mathematical formulations and requires a solid understanding of economic principles and calculus.
A suggested way through it
13 weeks, about 28 hours in total. Yours will differ.
- Week 1MODULE ONE: NATURE AND BASIC ECONOMIC DEVELOPMENT PROBLEMS
Unit 1: Economic Growth and Development · 2 hours
Read Unit 1: Understand the nature of development economics.. Define economic growth and its key components.. Discuss the measurement of economic growth using GDP and related indicators..
- Week 2MODULE ONE: NATURE AND BASIC ECONOMIC DEVELOPMENT PROBLEMS
Unit 2: Meaning and Measurement of Economic Development · 2 hours
Read Unit 2: Define economic development and differentiate it from economic growth.. Enumerate the core values of economic development.. Explain how economic development is measured using the New Human Development Index (NHDI)..
- Week 3MODULE ONE: NATURE AND BASIC ECONOMIC DEVELOPMENT PROBLEMS
Unit 3: Development and Underdevelopment · 2 hours
Read Unit 3: Discuss the meaning of underdevelopment and its common characteristics.. Identify the major obstacles to economic development.. Enumerate the determinants of economic development..
- Week 4MODULE ONE: NATURE AND BASIC ECONOMIC DEVELOPMENT PROBLEMS
Unit 4: Issues on Sustainable Development · 2 hours
Read Unit 4: Discuss the meaning of sustainable development.. Outline the pillars of sustainable development.. Highlight the goals of sustainable development and policies to achieve them..
- Week 5MODULE TWO: SELECTED THEORIES OF ECONOMIC GROWTH AND ECONOMIC DEVELOPMENT
Unit 1: The Structural Growth Theory · 2 hours
Read Unit 1: Explain the Lewis development theory and its assumptions.. Evaluate the relevance of the Lewis model to developing economies.. Discuss the structural change theory..
- Week 6MODULE TWO: SELECTED THEORIES OF ECONOMIC GROWTH AND ECONOMIC DEVELOPMENT
Unit 2: International-Dependence Theory · 2 hours
Read Unit 2: Explain the international dependence theory of underdevelopment.. Discuss the sub-groups of the dependence theory.. Outline the policy implications of the dependence theory..
- Week 7MODULE TWO: SELECTED THEORIES OF ECONOMIC GROWTH AND ECONOMIC DEVELOPMENT
Unit 3: Neoclassical Growth Model · 2 hours
Read Unit 3: Discuss the neoclassical growth model.. Highlight the assumptions of the model.. Explain the implications of the neoclassical growth model for developing countries..
- Week 8MODULE TWO: SELECTED THEORIES OF ECONOMIC GROWTH AND ECONOMIC DEVELOPMENT
Unit 4: Endogenous Growth Model and Policy Implications · 2 hours
Read Unit 4: Discuss the main features of the endogenous growth theory.. Enumerate the criticisms against the theory.. Outline the policy implications of the theory..
- Week 9MODULE THREE: ECONOMIC DEVELOPMENT STRATEGIES
Unit 1: Balanced and Unbalanced Growth Strategy · 2 hours
Read Unit 1: Discuss the balanced growth strategy and its limitations.. Explain the unbalanced growth strategy and its limitations.. Give a critical appraisal of both strategies..
- Week 10MODULE THREE: ECONOMIC DEVELOPMENT STRATEGIES
Unit 2: Import Substitution and Export-Led Promotion Strategy · 2 hours
Read Unit 2: Explain the meaning of import substitution strategy.. Outline the advantages and disadvantages of import substitution strategy.. Discuss the meaning of export promotion strategy..
- Week 11MODULE THREE: ECONOMIC DEVELOPMENT STRATEGIES
Unit 3: Capital Formation and Economic Development · 2 hours
Read Unit 3: Explain the meaning of capital formation.. Outline the role of capital formation in developing countries.. Describe the reasons for the low rate of capital formation in developing countries..
- Week 12MODULE THREE: ECONOMIC DEVELOPMENT STRATEGIES
Unit 4: Foreign Trade and Economic Development · 2 hours
Read Unit 4: Define and explain the meaning of foreign trade.. Outline the role of foreign trade in economic development.. Describe the limitations of foreign trade in developing countries..
- Week 13MODULE THREE: ECONOMIC DEVELOPMENT STRATEGIES
Final Revision and TMA Preparation · 4 hours
Review all units and prepare for assignments.. Focus on key concepts and theories.. Practice self-assessment exercises..
Preparing for the exam
- Review all study units and focus on key concepts and definitions.
- Practice solving problems related to economic growth and development models.
- Create summaries of each module to reinforce understanding.
- Review tutor-marked assignments (TMAs) and feedback for areas of improvement.
- Allocate specific time slots for studying each topic and stick to the schedule.
- Form study groups to discuss and clarify complex concepts.
- Practice past examination questions to familiarize yourself with the exam format.
- Create concept maps linking Units 3-5 growth models.
- Focus on understanding the assumptions and limitations of each theory.
- Review and understand the policy implications of each theory and strategy.
Questions students ask about this course
What is ECO714 about?
This course on Development Economics provides an analytical approach to the economic problems of developing nations and efforts to bridge the gap between developed and developing countries. It covers fundamental concepts, measurement, determinants, and challenges of economic growth and development. Students will explore theories, models, and strategies, including sustainable development, capital formation, and the role of foreign trade. The course aims to equip students with a comprehensive understanding of development economics and its policy implications.
How many units does ECO714 have?
ECO714, Development Economics, has 12 units across 3 modules, over 127 pages of course material. You can read it one unit at a time.
How many credit units is ECO714?
ECO714 carries 2 credit units, at 700 level in Social Sciences.
Is ECO714 hard?
ECO714 is rated intermediate level, with intermediate mathematical content. It is mostly theoretical, case study and problem solving work.
How long does ECO714 take to study?
About 156 hours of study, spread across its 12 units.
How is ECO714 assessed?
ECO714 is assessed by assignments, tutor marked assessments and final examination.
What do I need before starting ECO714?
Principles of Economics Macroeconomics
What can I do with ECO714?
Economist, Policy Analyst, Development Consultant, International Development Officer and Research Economist.