Economic Development and Growth

Economic Development and Growth
Problems and processes of economic growth and development, emphasizing less-developed nations.
 Hours3.0 Credit, 3.0 Lecture, 0.0 Lab
 PrerequisitesECON 110
 ProgramsContaining ECON 230
Course Outcomes

Econ 230 students will be able to

  1. Be familiar with the labor and consumption patterns among the world's poor.
  2. Demonstrate an understanding of how modifying the neoclassical assumptions learned in Econ 110 can affect the welfare implications of markets. In particular, how the welfare implications are affected by
    1. Externalities and Public Goods
    2. Fixed Costs or Increasing Returns
    3. Poorly Enforced Property Rights
  1. Analyze the Solow Growth model and its implications for economic growth.
  2. Explain the functioning of the credit and capital market: Gain a basic understanding of econometric methods used in testing economic theories in growth and development.
    1. How it relates to alleviating poverty and stimulating economic growth.
    2. Why it may be prone to information problems and the implications of those problems.
  1. Discuss the potential role of government in economic development. Especially as it relates to:
    1. Public Goods and Externalities
    2. Enforcing Contracts
    3. 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.