Economic Development 2
This course is the second in a two-semester sequence on development economics. The course examines distributional aspects of economic development, and studies issues of poverty, inequality, and vulnerability. It is organized in four parts. Part I examines issues of distribution from the perspective of welfare economics, and explores theoretical and empirical approaches to analyze poverty, inequality and vulnerability in developed and developing economies. Part II extends the economic analyses to examine ‘multi-dimensionality’ of distributional issues. In this part, issues of poverty, inequality and vulnerability are examined from the perspectives of capability failure and class analyses, and normative criterions of justice and fairness are invoked in analyzing unevenness of economic distributions. Part III explores the causes of unequal distribution in terms of unevenness of ‘initial’ economic and social conditions (including discrimination, asymmetric and incomplete information, and geographic location and historic institutions). Part IV explores the causes of unequal distribution in terms of unevenness of distribution of power.