On completion of the course the student will be able to:

1. explain and discuss the main features of the developing countries and how these features could perpetuate underdevelopment;
2. explain the interaction between institutions, law, finance and economic growth
3. explain and discuss the role of domestic and international institutions in the economic outcome of developing countries;

4. apply theories, concepts, and methods in development economics and political economics to analyze issues in developing countries and regions;
5. synthesize information and develop reasoned argument in discussing issues facing developing countries and regions;

6. analyze the issues facing developing countries and regions from relevant scientific, societal, and ethical aspects.

The objective of this course is to provide students with a basic understanding of 1)why standars of living are much higher today than they were 50, 100, 200 years ago 2) what account(s) for the differences in standards of living and growth across the globe and 3) what can be done to increase the pace of development in the less developed parts of the world. The course starts with the concepts of development, an overview of the relative characteristics of developing countries, and how these characteristics tend to re-enforce the persistence of under-development. This is followed by an introduction to the mainstream theories of economic development. These theories are discussed and evaluated with respect to their plausibility of the underlying assumptions and the empirical evidence. How the interaction between institutions, law, finance and entrepreneurship contributes to the wealth of individuals and nations is discussed at length.

Important elements of the course are:

• characteristics of underdeveloped nations and the underdevelopment trap;
• quantitative measures and cross country comparative analysis of development
• an introduction to the development as economic growth, including Solow's Exogenous Growth Model, Romer's Endogenous Growth Model and evolutionary economics.
• an introduction to institutional economics and underdevelopment,
• the role of globalization in economic development

Lectures

The teaching is conducted in English.

General entry requirements and 15 credits in Business Administration or Economics and Macroeconomic 7,5 credits at G1N level and Microeconomics 7.5 credits at G1N level (or the equivalent).

The course is graded A, B, C, D, E, FX or F.

Student assessment is based on written examination.

ILO assessed through examination:

All ILOs are assessed through written examination Registration of examination:

Registration of examination:

Name of the Test	Value	Grading
Examination	7.5 credits	A/B/C/D/E/FX/F

It is the responsibility of the examiner to ensure that each course is evaluated. At the outset of the course, evaluators must be identified (elected) among the students. The course evaluation is carried out continuously as well as at the end of the course. On the completion of the course the course evaluators and course examiner discuss the course evaluation and possible improvements. A summary report is created and archived. The reports are followed up by program directors and discussed in program groups and with relevant others (depending on issue e.g. Associate Dean of Education, Associate Dean of faculty, Director of PhD Candidates, Dean and Director of Studies). The next time the course runs, students should be informed of any measures taken to improve the course based on the previous course evaluation.

Academic integrity

JIBS students are expected to maintain a strong academic integrity. This implies to behave within the boundaries of academic rules and expectations relating to all types of teaching and examination.

Copying someone else’s work is a particularly serious offence and can lead to disciplinary action. When you copy someone else’s work, you are plagiarizing. You must not copy sections of work (such as paragraphs, diagrams, tables and words) from any other person, including another student or any other author. Cutting and pasting is a clear example of plagiarism. There is a workshop and online resources to assist you in not plagiarizing called the Interactive Anti-Plagiarism Guide.

Other forms of breaking academic integrity include (but are not limited to) adding your name to a project you did not work on (or allowing someone to add their name), cheating on an examination, helping other students to cheat and submitting other students work as your own, and using non-allowed electronic equipment during an examination. All of these make you liable to disciplinary action.

• Todaro, M. P. & Smith, S. C. (2020) Economic Development. 13th Edition. Pearson
• Articles in Journals can also be part of the course literature