Course Details
Subject {L-T-P / C} : HS7401 : Introduction to Economic Growth And Development { 3-0-0 / 3}
Subject Nature : Theory
Coordinator : Dr. Narayan Sethi
Syllabus
Unit-1. Economic of Development: Concepts and Approaches
Meaning of Economic growth and development- definition, features, measurement, obstacles to Economic Development, relation between economic growth and development.Factors of Economic Growth- Economic and non-economic factors
Unit-2. Growth Model
Classical Theories of Growth- Adam Smith, David Ricardo, Karl Marx, Joseph A. Shumpeter, Malthusian Theory Keynsian Theory of Growth Post Keynsian/Neo-Classical Theories of Growth- Hansen, Harrod and Domar & Domar, Joan Robinson, Passinetti, Nikolas Kador, R.L Solow, Rostow Stages of economic growth
Unit-3. Development Theories
Dualistic Theories-Benjamin Higgins, Boeke Strategic Theories- Robert Lewis, Rosenstien Rodan, Albert Hirschman, Leibenstien Population Vs. Technological Progress- Malthus, A.K. Sen, Gunnar Myrdal, J.R. Hicks, Nelson Mahalanobis Indian Model
Unit-4. Domestic and International Measures for Economic Development
Capital formation and Economic Development- Role of Agriculture and Industry, Monetary and fiscal policy in economic development, deficit financing as an instrument, Price Policy, Population growth, Role of entrepreneurship and role of state on economic development
Course Objectives
- The objective of this course is to provide basic knowledge of economic growth and development with primary focus on the growth model and its applicability in India.
Course Outcomes
The students will be able to have in depth knowledge regarding the growth and development models and also the applications.
Essential Reading
- Hywel Jones, An Introduction to the Modern Theory of Economic Growth, John Wiley & Sons , 1981
- Sukhamoy Chakravarty, Alternative Approaches to the Theory of Economic Growth, Centre for Studies in Social Sciences , 1982
Supplementary Reading
- Robert M. Solow, Growth Theory: An Exposition, OUP USA , 2000
- A. P. Thirlwall, Growth and Development: With Special Reference to Developing Economies, Palgrave Macmillan , 2005