Economic Development Lecture 1 Introduction to Development Economics

Economic Development Lecture 1: Introduction to Development Economics Life Impact | The University of Adelaide University of Papua New Guinea

Lecture 1: Introduction to Development Economics Michael Cornish Overview • Case Study: Vietnam • Definitions: “Economics” and “Development” • Aim of the course • Assessment • Textbook • Case Study: Vietnam (cont. ) …and some final words Slide 1 University of Papua New Guinea

Lecture 1: Introduction to Development Economics Michael Cornish Case Study: Vietnam Slide 2 University of Papua New Guinea

Lecture 1: Introduction to Development Economics Michael Cornish Definitions • “Economics” – The economic problem – Resource allocation – The ‘dismal science’ Slide 3 University of Papua New Guinea

Lecture 1: Introduction to Development Economics Michael Cornish Definitions • “Development” – GDP/capita – Utility approach – Participatory approach – Millennium Development Goals (MDGs) Slide 4 University of Papua New Guinea

Lecture 1: Introduction to Development Economics Michael Cornish Millennium Development Goals Slide 5 University of Papua New Guinea

Lecture 1: Introduction to Development Economics Michael Cornish Definitions • “Development” (cont. ) – Sen’s Capabilities Approach • Capability to function – ‘functionings’ • Income / capability gap » Personal differences » Environmental » Social climate » ‘Relational perspectives’ » Economic distribution within families Slide 6 University of Papua New Guinea

Lecture 1: Introduction to Development Economics Michael Cornish Income v. Happiness Slide 7 University of Papua New Guinea

Lecture 1: Introduction to Development Economics Michael Cornish Definitions Economic development v. development economics – What’s the difference? ? Slide 8 University of Papua New Guinea

Lecture 1: Introduction to Development Economics Michael Cornish Aim of the course • Critical thinking! • To understand the strengths and weaknesses of different approaches to economic development, and which policies are appropriate to any given development situation • …and all with at least a little enthusiasm! Slide 9 University of Papua New Guinea

Lecture 1: Introduction to Development Economics Michael Cornish Assessment • Tutorials: 20% – Participation: 5% – Weekly hand-in (all 10 hand-ins): 15% • Assignments: 30% – Assignment 1: 10% (due Thursday, 20 August) – Assignment 2: 20% (due Thursday, 8 October) • Final Exam: 50% [Or 70% if Assignment 2 is not submitted] Slide 10 University of Papua New Guinea

Lecture 1: Introduction to Development Economics Michael Cornish Expectations • Bad cop time: – Some words about plagiarism… Zero tolerance Slide 11 University of Papua New Guinea

Lecture 1: Introduction to Development Economics Michael Cornish Textbook OR 10 th Edition Slide 12 11 th Edition University of Papua New Guinea

Lecture 1: Introduction to Development Economics Michael Cornish Textbook OR 12 th Edition Slide 13 University of Papua New Guinea

Lecture 1: Introduction to Development Economics Michael Cornish Case Study: Vietnam Slide 14 University of Papua New Guinea

Lecture 1: Introduction to Development Economics Michael Cornish Some final words… Slide 15 University of Papua New Guinea