Fundamentals of Economic Development

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The objective of this course is to examine some of the fundamental forces that shape the process of economic development. This course is divided into three sections: (i) Market Failure: with an analysis of credit, labor, and insurance markets in developing countries. (ii) Social Response: how community networks emerge in response to market failure. We study the positive and negative consequences of this community involvement for growth and development; in the short-run and the long-run. We also provide economic foundations for the emergence of social norms and identity, as well as the dynamic inefficiencies that they can generate with economic development. (iii) Biological Response: how epigenetic adaptation to economic conditions in the pre-modern economy can determine nutritional status and health in developing economies. Apart from providing a particular perspective on development, an additional objective of this course is to demonstrate the use of economic theory in informing empirical research.

Instructor(s) from Econ Site: 
Kaivan Munshi
Instructor Name from WEN: 
Kaivan Munshi
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MW 9.00-10.15
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