Economic Development

Economic Development
Microeconomic analysis of the causes of income differences across countries.
 Hours3.0 Credit, 3.0 Lecture, 0.0 Lab
 PrerequisitesECON 380; Econ 388 (or concurrent enrollment) or Pl Sc 328.
 TaughtWinter, Spring
 ProgramsContaining ECON 431
Course Outcomes

Econ 431 students will be able to

  1. Discuss the labor and consumption patterns among the world’s poor.
  2. Demonstrate an understanding of how modifying the neoclassical assumptions learned in Econ 380 can affect the welfare implications of markets. In particular, how the welfare implications are affected by
  • Externalities and Public Goods
  • Fixed Costs or Increasing Returns
  • Poorly Enforced Property Rights.
  1. Discuss the functioning of the credit and capital market:
  • How it relates to alleviating poverty and stimulating economic growth.
  • Why it may be prone to information problems and the implications of those problems.
  1. Explain the potential role of government in economic development, especially as it relates to:
  • Public Goods and Externalities
  • Enforcing Contracts
  • Corruption
  1. Explain the importance of labor, health, and education to the lives of those in developing countries and how these fields relate to improving outcomes among the poor.