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