What is economic growth? What causes it, and what are its effects? What is development, and how is it linked to growth? These are the key questions that will be answered in this course.
The course will apply the theories and experience of economic development and growth to the process of industrialization followed by today’s developed nations, to pinpoint the common factors that coincided with their move to higher levels of income and welfare. With these theories in hand, the course will analyze the special economic and socio-political features of developing countries in Asia, Africa, Latin America and the Middle and Far East. It will classify today’s developing countries into groups and explore what features of domestic policymaking, governance, resource endowments or their cultural or social environments might aid or hamper development and growth. It will also address the problems of poverty, hunger, population growth and the environment.
The field visits to the countries visited will bring students closer to the real world situations and will help in reflecting what they have learned in the classrooms. Students will be evaluated on the midterm exam, reports on the field visits, ability to integrate other global courses they will attend on the ship, attendance and participation, and a final exam.
Field WorkCountry: Ghana
Day: 1 - Tema (Accra) - 10 April
The visit will expose the achievement of Ghana in terms of Millennium Development Goals (MDG), strategies for economic development and importance of agriculture. From the experts in the World Bank, students will learn about the MDGs and strategies followed in achieving them. Agriculture being the most important sector in the economic development of Ghana, students will learn at the farm level about various issues and constraints faced in accelerating growth. Academic Objectives:
- Learn about the constraints in economic development.
- Learn about various strategies of economic development followed in Ghana.
- To study the importance of the private sector in promoting agricultural growth and export.