This course covers the most influential theories of development micro-economics at an advanced level and presents evidence from contemporary empirical research on the validity of these theories.
The goal of this class is to provide a comprehensive overview of contemporary theory and evidence on economic development. The main theme of the class is the interaction between market failures and poverty, and how these failures may manifest themselves in markets for labour, land, human capital, and elsewhere. The class focuses on microeconomic theories of households and institutions in developing countries, alternating between presenting formal economic models, and presenting evidence to support or contradict the hypotheses advanced in the models.
Main topics to be covered: Institutions and corruption; household decision making; human capital accumulation; market failures in land, labor, and credit.
Prerequisites: ECON 121 or ECON 125; ECON 325, ECON 327, or GLBL 225; ECON 131 or 136 or equivalent; MATH 118, 120, or equivalent