WELCOME TO ECON 280 (Click Read More to see the Syllabus)
WASHINGTON & LEE UNIVERSITY
Williams School of Commerce, Economics, and Politics
Williams School of Commerce, Economics, and Politics
ECONOMICS 280 – Development Economics
Prerequisite: Economics 101 or 100
11 – 12 and 12:15 – 1:15 –MWF CGL 114
Professor
James F. Casey ‘91
Office Hours:
MWF 1:30-2:30 and T 9:00-11:00 and by appointment
Mission
Statement of the University:
Washington and Lee University provides a
liberal arts education that develops students' capacity to think freely,
critically, and humanely and to conduct themselves with honor, integrity, and
civility. Graduates will be prepared for life-long learning, personal achievement,
responsible leadership, service to others, and engaged citizenship in a global
and diverse society.
Some of my favorite Quotes
from famous economists
For it may be observed, that in all
Polytheistic religions, among savages, as well as in the early ages of Heathen
antiquity, it is the irregular events of nature only that are ascribed to the
agency and power of their gods. Fire burns, and water refreshes; heavy bodies
descend, and lighter sub- stances fly upwards, by the necessity of their
own nature;; nor
was the invisible hand of Jupiter ever
apprehended to be employed in those matters.
The Theory of Economics does not furnish a
body of settled conclusions immediately applicable to policy. It is a method
rather than a doctrine, an apparatus of the mind, a technique of thinking which
helps its possessor to draw correct conclusions.
The
ideas of economists and political philosophers, both when they are right and
when they are wrong, are more powerful than is commonly understood. Indeed, the world is ruled by little else.
Practical men, who believe themselves to be quite exempt from any intellectual
influences, are usually the slaves of some defunct economist.
The important
point shouldn’t be “don’t formalize”; it should be that formalism is there to
open your mind, not close it, and if the real world seems to be telling you
something inconsistent with your model, the problem lies in the model, not the
world.
Course
Overview:
Economic Development has been defined by Nobel Laureate Amartya
Sen as "the process of expanding the real freedoms that people enjoy"
(see Development as Freedom, p. 3). Pakistani economist Mahbub ul
Haq has written that "the objective of development is to create an
enabling environment for people to enjoy long, healthy and creative lives"
(see Human Development Reports).
Development
Economics is the branch
of economics that studies developing countries. While there is no generally
accepted definition of "developing countries," the expression refers
to relatively poor countries-or countries
where standards of living are relatively low on average. This class
serves as a broad-ranging introduction to the field of Development
Economics. Development Economics is a very broad field, covering
everything from Agriculture to Trade with poverty, inequality, gender, finance,
environment, labor, education, health, and nutrition in between.
Knowledge of Principles of Microeconomics (ECON 101) is required. Knowledge of
basic regression analysis and calculus will be helpful.
The structure for this class will remain the same as the
topics change. A typical week will involve reading 1 or 2 chapters from
the text in preparation for Monday’s and Wednesday’s class. Class time on
these days will be reserved for discussion and answering any questions you may
have pertaining to the day’s assigned reading. If there are no questions,
then I will assume you understand everything from the chapter and move on to
some new material. We will often start Friday's class with a short
quiz. The quiz will cover material from the assigned reading(s). We
will finish each Friday with a discussion of the assigned reading for that day,
which will usually be a journal article related to the chapter material. In
order to prepare for Friday's discussion, you should comment on the class blog
before Thursday at 8pm.
Learning Objectives
The course learning objectives focus on broad
knowledge attainment, critical thinking and research and writing skills.
By the end of the semester, students should:
• Be familiar with conceptual
debates on growth and development - understanding basic issues, trends, and
concepts in the field of development economics
• Be familiar with current and
emerging global issues related to the Sustainable Development Goals
•
Have a greater understanding of some of the strategies and
examples of ways in which government and the private sector can contribute to
economic development
• Demonstrate critical thinking, research and
writing skills in a paper on a topic of their choice related to economic development
(topic must be approved by professor)
Readings:
(1)
Todaro
and Smith (T&S) Economic Development 11th ed..
(2)
Selected Online Reading Assignments
(3)
Development as Freedom (Sen)
Data Sources:
Requirements
and Grading
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10% of your grade will be based on class participation
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30% of your grade will be based on an exam.
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10% on blogging
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25% of your grade will be based on 5 quizzes.
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25% of your grade will be based on your final paper
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(1) You will be expected to come to class
prepared to discuss the day’s topics and to ask questions if you have
them.
(2) We will have one exam. It will be scheduled for the 5th week of the
term.
(3) As stated above, in order to prepare
for Friday's discussion, you should comment on the class blog before
class. Your comment should NOT be a
summary. It should be a question about
or critical insight from the paper and/or a previous blog comment. Blogging must be completed by 8pm Thursday.
(4) Quizzes will occur on random Fridays
before class begins. They will consist of 3 or 4 questions
covering material from Monday’s and Wednesday’s class discussion and 1or 2
questions from the assigned reading for Friday.
(5) You will choose
a partner and the two of you will work on the project together. More information to come……
Classroom
and Course conduct:
As a courtesy to your classmates, please
turn off all cellphones at the start of class. Please use the restroom
before class and try not to get up during class to leave the room. If you are
having an emergency, then please feel free to leave
without my permission. Lastly, be on time – please try not to enter the
classroom late.
Never use your laptop for non-class purposes (e.g., e-mail, web surfing). If, in
my judgment, you ever become “sucked into” your laptop, you will first be given
a warning. If you continue to use your laptop for non-class purposes
after the warning, not only will you be forbidden to use a laptop in class, but
your participation grade will be reduced by one letter grade. I
may forbid all laptop use in class if laptops become a distraction.
It is important to note that lectures and
class discussion will complement rather than substitute for the reading,
sometimes providing alternative approaches. Therefore, both reading and
attendance are strongly advised, and arrangements should be made to find out
what was covered in class when attendance becomes impossible.
I will make every attempt to respond to
class-related emails within 24 hours. This policy does not apply to weekend
days, so please do not expect responses to emails during the weekend. Also, I
will also not respond to emails asking questions that are clearly answered on
the syllabus or via prior emails: e.g. when is the problem set due?
Questions about grading of any assignment
or exam must be addressed within one week of its return. Questions must be
presented in writing. I make plenty of mistakes so don’t be afraid to ask.
Daily (flexible) Schedule for Economics 280
Week
0 – Introductions and
1 – Introduction to Development: Measures and Outcomes
T&S 1, 2
2 - Poverty, Inequality, and Development
T&S 5
Sen 1 and 2 (note: it
may be helpful to read the preface and introduction before)
Institutional
Barriers and World Income Disparities –
3 - History of Growth and Development Theory
T&S 3, 3.1 and 3.2
4- Contemporary Models of Development
T&S 4
5 - Pause to Review
Review weeks 0-4
Exam
reading
day
6 - Gender
Sen ch. 8
TBA
7 - Human Capital
T&S 6 and 8
8 - Sustainable
Development and the Environment
T&S 10
TBA
9 - The
Role of the State and Markets
T&S 11, 15
Sen 5
TBA
10 - Finance
(Micro and Macro)
T&S 16
11 - International Trade, Aid and Domestic
Policy
T&S 12 and 15
12 - The Primary role of Agriculture
T&S 9
TBA
Official and
Important University Policies and Statements:
STATEMENT OF COMMITMENT TO DIVERSITY
Washington
and Lee affirms that diverse perspectives and backgrounds enhance our
community. We are committed to the recruitment, enrichment, and retention of
students, faculty, and staff who embody many experiences, cultures, points of
view, interests, and identities. As engaged citizens in a global and diverse
society, we seek to advance a positive learning and working environment for all
through open and substantive dialogue (Revised and Approved by the Board of
Trustees, February 11, 2018).
DISABILITY ACCOMMODATIONS
Washington
and Lee University makes reasonable academic accommodations for qualified
students with disabilities. All undergraduate accommodations must be approved
by the Title IX Coordinator and Director of Disability Resources. Students requesting
accommodations for this course should present an official accommodation
letter within the first two weeks of
the term and schedule a meeting outside of class time to
discuss accommodations. It is the student’s responsibility to present this
paperwork in a timely fashion and to follow up about accommodation
arrangements. Accommodations for test-taking must be arranged with the
professor at least a week before the date of the test or exam, including finals
(Committee on Courses and Degrees July 28, 2017). For more information,
please see https://www.wlu.edu/the-college/for-students/disability-accommodations.
MEETING BASIC NEEDS
Any
student facing issues of food insecurity, lacking a safe and stable place to
live, or any other situation that they believe may affect their well-being or
performance in this course is urged to: 1) contact a Dean in Student Affairs
for support; and 2) notify the instructor, who may be able to offer additional
assistance.
final paper assignment
12 pt. font
double-spaced
2pp. (print front and back)
Links for examples of “how-to.”
https://ignatiansolidarity.net/wp-content/uploads/2013/12/Sample-Letter-to-Congress-Minimum-Wage.pdf
Dear ……..
I am _______ a student of _________ and a voting
citizen of ___________.
I am writing to encourage you to support/not support
_____________.
There are many arguments for/against, but I am only
going to use an economic point of view.
Identify an economic principle from which to argue –
e.g. opportunity cost, public goods, spillover effects, incentive effects,
negative externalities, unintended behavioral consequences….
Casey and Schuhmann (2016) found
…………. Try to find 3 or 4 primary sources to support your argument.
In closing, I hope my argument will help you ……………..
Please attach a citations page.
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