Students Profile, Attendance, Internal evaluation criteria
Course starting date 26th October, 2021
Course Completed on 22/02/2022
Question Paper : 2015-18, 2019, 2020
Content/ Syllabus: Unit wise course content distribution
Unit -1. Concept of Economic Development
Meaning of Development, different concepts of development –Sustainable development, Participatory development, Inclusive development, Human development, Growth and Development – Broad Indicators of Economic Development – GDP- Per capita Income – PQLI– Basic needs approach – Human Development Index – Gender Development Index –Gender Empowerment Measure - Human Poverty Index- Global Hunger Index.
Class Notes
Introduction - Class notes Link
Sustainable development-Class notes Link
Participatory development- Class notes Link
Inclusive development- Class notes Link
Human development- Class notes Link
1 Growth and Development- Class notes Link
6. 2 Indicators of Economic Development - GDP, PCY and PQLI- Class notes Link
Basic needs approach- Class notes Link
Human Development Index- Class notes Link
Gender Development Index and Gender Empowerment Measure - Class notes Link
Human Poverty Index and Global Hunger Index- - Class notes Link
Lectures Notes
Human Development - Link
Growth and Development - Link
Indicators of Economic Development - GDP-PCI-PQLI -Link
Human Development Index - Link
Human Development Indicators India - Link
GDI AND GEM - Link
HPI and GHI- Link
Basic Need Approach - Link
Unit -2 & 3. Underdevelopment and Theories of Economic Growth
Characteristics of underdevelopment – Obstacles to underdevelopment
Rostow’s Stage Theory –Big Push (Rosenstein Rodan) - Vicious circle of poverty and Balanced growth (Nurkse) – Unbalanced growth (Hirschman)
Trap Models – Critical minimum effort thesis – Low level equilibrium trap – Process of cumulative causation.
Class Notes
Characteristic and obstacles of LDCs - Link
Rostow’s Stage Theory - Class Notes Link
Approaches to Development and Big Push Theory - Class Notes Link
Big Push Approach - Class Notes Link
Vicious Circle of Poverty and Balanced growth (Nurkse)- Class Notes Link , Video
Unbalanced growth (Hirschman)- Class Notes Link, Video
Critical minimum effort thesis - Class Notes Link, Video
Low level equilibrium trap - Class Notes Link, Video
Process of cumulative causation - Class Notes Link
Unit -4. Labour Surplus Economy and Development Strategy
• Concept of surplus labour – Surplus labour as potential saving – Economic development with unlimited supplies of labour (Lewis Model).
• Capital intensive Vs Labour intensive technique – Choice of technique in a labour surplus economy.
Class Notes
Complete Class Notes Link
References/ Suggested Readings
1. Michael P. Todaro and Stephen C. Smith: Economic Development, 12th Edition, Pearson Education India.
2. Kausik Basu: Analytic Development Economics: The Less Developed economy Revisited, 1st Edition, Oxford University Press.
3. ML Jhingan and BK Jhingan: The Economics of Development and Planning, 42nd Edition, Vrinda Publications (P) Limited.
4. Felix Raj, Sampat Mukherjee, Mallinath Mukherjee, Amitava Ghose, Rajendra N. Nag: The Contemporary Development Economics (Adam Smith to Amartya Sen), 3rd Edition, New Central Book Agency.
5. A.P Thirlwall: Economic of Development, 9th Edition, Palgrave Macmillan
6. H.L Ahuja: Development Economics, 1st Edition, S. Chand & Sons Private Limited.
7 Sudhir Anand: Recasting Human Development Measures, UNDP Discussion paper March, 2018. http://hdr.undp.org/sites/default/files/anand_recasting_human_development_measures.pdf
Why is the geometric mean used for the HDI rather than the arithmetic mean? In 2010, the geometric mean was introduced to compute the HDI. Poor performance in any dimension is directly reflected in the geometric mean. In other words, a low achievement in one dimension is not linearly compensated for by a higher achievement in another dimension. The geometric mean reduces the level of substitutability between dimensions and at the same time ensures that a 1 percent decline in the index of, say, life expectancy has the same impact on the HDI as a 1 percent decline in the education or income index. Thus, as a basis for comparisons of achievements, this method is also more respectful of the intrinsic differences across the dimensions than a simple average.