Economics of Development
Take a look at the economic perspective, with a special synoptic overview of economic development in the Indian experience.
Development initiatives unfold within complex social, cultural and economic contexts. It is important that practitioners in the field are able to interpret and analyse development interventions from many perspectives, and in this course, we take a look at the economic perspective, with a special synoptic overview of economic development in the Indian experience. How has Indian economic development and its policy evolved since colonial times before Independence, and how has it shaped agriculture, trade and industry? We develop a basic understanding of economic tools and concepts and look at development economics addresses challenges of poverty, employment, human development and inequality. We understand and learn key ideas in microeconomics (such as consumer’s choice and demand, behaviours of firms, elasticity) and macroeconomic approaches (such as national income accounting, unemployment, inflation, demand and supply). How is human development measured? What is a happiness and sustainability index? Through lectures, workshops and assignments, the course will prepare you for a deeper dive into the economics of development.