Economic Development

Course code ECON3002Units 10Level 3000Faculty of Business and LawNewcastle Business School

Why are some countries rich and others poor? What strategies do countries adopt to improve their performance and how do the strategies affect public and private sectors that contribute to growth in the economy? Economic development looks at these and other questions that relate to how countries manage, market, trade and finance their activities for sustained growth that leads to development in an increasingly integrated and competitive global environment. Economic development therefore relates very closely to courses in the disciplines of business, law and social sciences.

The course deals with the principal issues of economic development, with the objective of offering a clear and comprehensive overview of the processes of economic growth and development. Emphasis will be on economy-wide aspects of economic development, with special references to international dimensions of national development policy making in a globalised world. Actual experiences or cases from selected developing and developed countries, in particular from the Asia-pacific region, Africa, and Latin America will be used to illustrate historical and emerging approaches to development. As an integral part of the course, attempt will be made to train students to collect and interpret data on developing economies or write a review of case studies in the light of what is covered in the course. While a background in introductory economics is helpful, those with no theoretical background in economics can take the course and develop their knowledge to a level which is appropriate for economic development at the undergraduate level.

Available in 2014

Callaghan CampusSemester 2
Previously offered in 2013, 2012, 2011, 2010
ObjectivesOn successful completion of this course, students will be able to:
1. Demonstrate an understanding of the major theories, models and approaches to economic growth and development.
2. Identify the contemporary issues in economic growth and development.
3. Exhibit an awareness of the implications of the sustained economic growth in developing countries for global prosperity, security and the environment.
4. Evaluate economic problems of developing countries and analyse critically contemporary policy debate on development priorities and policy reforms.
ContentLectures may include, but are not restricted to, the following topics:
1. Major theories, models and approaches to economic growth and development
2. Agriculture and industry
3. Migration and urbanisation
4. International trade
5. Globalisation, savings & financing
6. Population, human capital and labour markets
7. Poverty and inequality
8. Foreign direct investment and aid
9. Political economy and development
Replacing Course(s)This course replaces ECON2330/ECON3330 Asian Business Development
TransitionThis course is not available to students who have successfully completed ECON2330/ECON3330.
Industrial Experience0
Assumed KnowledgeECON1001, ECON1002
Modes of DeliveryInternal Mode
Teaching MethodsLecture
Assessment Items
Case StudiesGroup
Examination: ClassMid semester test
Examination: FormalEnd of Semester formal examination
Presentations - Group
Contact HoursLecture: for 2 hour(s) per Week for Full Term
Tutorial: for 1 hour(s) per Week for 12 weeks
Timetables2014 Course Timetables for ECON3002