1. Semester: II
2. Number of Credits: 4

Preamble
The objective of the course is to introduce students to existing academic approaches that grapple with the complexity of developing countries. To that end, the syllabus presents some of the major economic ideas in development thinking, and builds on and extends the microeconomic and macroeconomic tools developed in earlier core courses, additionally incorporating alternative perspectives that merit close scrutiny.

Module 1: Concepts and measures of growth and development
Developments in economic thought – History, expectations and development – Economic growth and structural change – Planning and Growth - HDI, GDI, etc. – Inequality and development – Capabilities, entitlements and deprivation – Institutions and development – Market and State (12 lectures).

Module 2: Modern theories of growth and distribution
Harrod-Domar and Neo-Keynesian growth models – Approaches to technical change – Convergence – Endogenous growth models – Human capital (12 lectures).

Module 3: Microeconomics of development
Segmentation of rural land, labour, capital and credit markets – Market inter-linkages – Poverty, unemployment, under-nutrition, migration, labour markets and households – Population and poverty – Gender issues – Development and the constraint of natural resources (12 lectures).

Module 4: Macroeconomics of development
Rural and Urban – The Dualistic economy: W.A. Lewis and after – Financial repression - Capital inflows and volatility – Trade and foreign exchange – Two-gap and Three-gap models – International debt – Role of international financial and trade institutions – Structural adjustment (12 lectures)

1.	Agénor, P. and P. J. Montiel (1999), Development Macroeconomics.
2.	Bardhan, P. and Christopher Udry, Development Microeconomics.
3.	Behrman, JR and TN Srinivasan, (1995), Handbook of Development Economics, Elsevier.
4.	Foley, Duncan K. and Thomas R. Michl, (1999), Growth and Distribution, Harvard University Press.
5.	Hayami, Yujiro (2001) Development Economics: From the Poverty to the Wealth of Nations, OUP, Great
	Britain.
6.	Human Development Reports
7.	Sen, Amartya (1999), Commodities and Capabilities, OUP, New Delhi.