Semester Offering: January
The course will provide knowledge on analysis of poverty issues in low- and middle-income economies. The students will be equipped with key concepts in development economics for understanding and analyzing specific development issues.


Upon completion of the course, the students will be able to:
1.     Understand basic concepts of economic development.
2.     Evaluate allocations of different types of resources and propose policy instruments to correct for market failures and government failures.
3.     Identify relevant factors affecting stagnation in growth, and prioritize development policies.




I.      Introduction to development economics

II.    Key concepts in development economics
1.     Welfare and equity
2.     Economic growth and human development
3.     Market failures and government failures

III.   Factors affecting economic development
1.     Poverty trap
2.     Inequality
3.     Middle income trap
4.     Rent-seeking

IV.   Policy instruments in development economics
1.     Macro-economic policies
2.     Micro-economic policies




1.    Janvry, A.D., Sadoulet, E. 2016. Development Economics: Theory and Practice, 3rd ed. Routledge, London.
2.    Hayami, Y. 2005. Development Economics: From the Poverty to the Wealth of Nations, 3rd ed. Oxford University Press, Oxford.


1.    Banerjee, A.V., Duflo, E. 2012. Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty, Reprint ed. PublicAffairs, New York.
2.    Roland, G. 2013. Development Economics (The Pearson Series in Economics), 1st ed. Routledge, London.
3.    Williams, A., Le Billon, P. 2017. Corruption, Natural Resources and Development: From Resource Curse to Political Ecology. 1st ed. Edward Elgar Pub, Cheltenham (United Kingdom).


1.     World Development [Elsevier]
2.     Journal of Development Economics [Elsevier]
3.     Economic Development and Cultural Change [University of Chicago Press]
4.     Journal of International Development [Wiley & Sons]
5.     Journal of Economic Behavior and Organization [Elsevier]


Lecture: 30 hours
Assignments: 20 hours
Self-study: 90 hours


Lectures in classroom, assignments, readings, and discussions in class.


Assignments (25%), closed-book mid-semester exam (35%), and closed-book final exam (40%).

Grade “A” will be awarded if a student can demonstrate thorough knowledge and mastery of concepts and techniques and understanding of subject matter with high degree of skill to relate them with real world examples. Grade “B” will be awarded if a student can demonstrate good knowledge and mastery of concepts and understanding of subject matter with good skill of relating them with real work cases. Grade “C” will be given if a student can demonstrate some knowledge of the concepts and understanding but lacks skill of relating them with real world cases. Grade “D” will be given if a student has poor understanding of concepts and techniques with no or little skill to relate with real world cases.