Although economic development is sometimes equated with simple statistical indicators such as per capita income, mortality and morbidity rates, environmental pollution indices or the somewhat more sophisticated human development indices, the process of development is complex and encompasses economic, ecological, social, cultural, political and religious aspects of a society. This course will largely limit itself to economic changes that occur during development, while recognizing that this is only part of the picture. Other factors will put in an appearance in so far as they are related to the economy. The course will offer an overview of the major theoretical and empirical approaches to the problem of Economic Development including Neo-classical, Keynesian, Marxist, New Institutional Economics (NIE), Post-Developmentalist and Feminist perspectives. We will study the implications of these theoretical approaches for classic issues such as industrialization, employment, poverty, inequality, gender and the environment. At every step, we will make an effort to connect development theory with development policy and practice. Major changes in Development Economics are often a result of the real and perceived failures of previous approaches, as much as a reflection of the changes occurring in the Capitalist World-System itself. Hence, we will discuss each approach with emphasis on its historical context. In addition to academic literature, we will also read some literature emanating from relevant International Institutions (such as the International Labor Organization, UNDP, World Bank and the IMF) as well as from People’s Movements around the world that offer alternative visions/critiques of development.
