The course will deal with: 1. Methods, instruments and actors of Economic Policy. 2. Macroeconomic policies. 3. Internal structural policies (agrarian reform, labor market, prices, taxation and public expenditure). 4. Structural policies for the regulation of international flows (trade, investment, finance, migration, technology). 5. Historical examples of economic policy regimes.
Lecture notes on Economic Development Policy prepared by Professor Giovanni Andrea Cornia.
Slides, newspaper articles
Additional auxiliary material
Preparatory material for the understanding of the handouts Chapters on Balance Payments, Exchange rates and IS-LM-BP (from "Economic Policy Manual" Cellini McGraw-Hill)
Recommended reading «The elusive development. The adventurous search for economic growth in the South of the world »William Easterly
Learning Objectives
The course provides a conceptually-based discussion on development and its political and economic aspects. Drawing from different theoretical traditions and disciplinary approaches, in particular political theory and development economics, the course discusses different approaches to development and discusses some of the implications of these different developmental perspectives..
The organisation of classes is aimed to help students develop a good understanding of the subject matter,
with a focus on concepts, theoretical and methodological approaches. In addition, classroom activities are aimed at helping students develop
a range of:
transferable skills: listening critically; offering informed judgements in a concise fashion study skills: especially note taking, summarising (orally and in written form), critical reading and comprehension;
critical thinking skills: especially deductive reasoning; hypothesising; structured argumentation;
Prerequisites
Principles of economics, Macroeconomics and microeconomics foundations
Teaching Methods
Lectures with the help of slides, discussion of articles and current topics.
Frontal excercies
Type of Assessment
Written exam with open question and excercises
Course program
Models, actors and objectives of economic policy in the developing countries;
Political economy and economic policy;
Methodology, theoretical and empirical models;
Context, objectives, economic policy actors in Developed Countries and developing countries;
How to promote growth? Short-term economic policies;
Economic imbalances: Inflation, public debt and the balance of payments deficit;
Bdp, exchange rate regimes, IS-LM-BP;
Stabilization policies (Orthodox and heterodox);
Internal structural reforms;
Access to land and land reform;
Taxation, public expenditure and redistribution;
Labor market and social protection;
External structural reforms
Foreign trade and its liberalization;
Foreign investment and technology transfer;
Portfolio capital flows and their regulation;
International migration and its regulation;
Main economic policy regimes adopted by the developing countries;
Industrialization for import substitution;
Redistributive strategies;
The Asian miracle;
New Political Economy and Washington Consensus;