Economic Development

Why are some countries rich and others poor? The course aims to answer this question by examining diverse frameworks for the economic development of different nations, particularly, the newly industrialised and emerging economies. While analysing the dynamics of economic growth and development, the course examines issues in economic underdevelopment and economic transition in a historical context. In addition, the role of institutions in economic development is discussed by drawing examples of countries under varied economic systems and development strategies. Case studies are drawn from across the world, in particular from Asia, Africa, and Latin America. A critical analysis is made with respect to the roles and interventions of international trade and financial institutions (such as the World Trade organisation, International Monetary Fund and the World Bank) in the design and implementation of development strategies. Governance issues and the activities of Non-Government Organisations and their impact on social and economic development are reviewed. Attention is also given to the impact of sustained economic growth in the developing world and industrialised countries such as Australia.