UNIVERSITY OF KENT
Module Specification
1. Title:
Growth and Development Theory (EC815)
2. Level:
M (FHEQ Level: 7)
3. Credits and Teaching Period:
15 credits. Autumn Term.
4. Pre-requisite and co-requisite units:
There are no specific pre-requisites for this module. Students on the MA programmes must have a good second class honours degree in economics from a UK university or equivalent.
5. Intake, hours and contact hours:
The target intake is 10-15 students. There are 2 contact hours a week; one lecture and one seminar. In addition, students are expected to do at least a further 8 hours of private study. The total workload for the module is a 150 hours when half of the six week examination term is included. The maximum size of seminar classes is 15.
6. Rationale:
The module provides the core training for an understanding of the economic growth and development process, historically and contemporaneously in the world’s developing countries. This is a compulsory module for the MSc in International Finance and Economic Development and International Development, and and an optional module for the MSc in Economics, Economics and Econometrics, and Economics and Finance..
Aims: The module aims:
· to help students understand the mainsprings of economic growth in developing countries, and the contribution that the various theories of growth can make to this understanding
· to help students analyse the facts of experience by studying empirical papers which attempt to test various theoretical hypotheses.
Objectives:
Growth and development theory, and its contribution to policy making, is what the subject matter of development economics is all about. The objective is to train students to fit them to work as development economists either in development organisations in their own countries, or in international organisations concerned with economic development such as various UN bodies, the World Bank, the IMF, and various non-governmental organisations. The module also provides the necessary research training to carry on to doctoral work in the field of development economics. Thus, this module improves students' understanding of economic growth, their analytical abilities, their appreciation of empirical evidence and ability to communicate orally and in writing.
7. Organisation and Content:
The module is based on a lecture-seminar structure. After the first two weeks introducing the course through lectures alone, the first hour of the module is devoted to a lecture and the second hour is devoted to a seminar on the same theme as the lecture, prepared by at least two students and organised in advance. Typically, the lecture concentrates on theory, and the seminar presentation concentrates on empirical work that has been done on testing the theory.
The specific topics dealt with are: old and new growth theory from Adam Smith to endogenous growth models; sectoral models of growth and development; the role of agriculture and industry; constraints on industrial growth; models of balance of payments constrained growth; centre-periphery models of growth and development; inflation and growth.
8. Teaching Methods and Core Skills:
In the lectures and seminars, students are taught the skills listed in the objectives, and are given the opportunity to exercise skills already acquired at undergraduate level. Particular emphasis is placed on the ability to think rigorously and critically, and to express arguments cogently in oral discussion. The technical rigour is taught in lectures, and the oral skills taught in seminars. Written work is also required, and is marked thoroughly and constructively in order to improve writing and analytical skills.
9. Assessment and Examination Methods:
The module is assessed by a 2,000-3,000 word essay and a 2 hour exam. The essay counts 20 percent towards the final mark and the exam 80 percent. Students choose an essay from a list of eight, and must choose two questions from six in the two hour exam. The one hour long exam essay questions/problems give students the opportunity to give advanced and in depth answers. The examination questions are designed to give students the opportunity to demonstrate both their understanding of and ability to apply the module material.
The coursework and examination develop and test students’ ability to understand and analyse problems in growth and development economics and ability to construct and write essay answers.
10. Required and Recommended Reading:
A.P. Thirlwall, Growth and Development, 6th edition 1999
P. Toner, Main Currents in Cumulative Causation, 1999
R. Barro, Determinants of Economic Growth, 1998
C. Jones, Introduction to Economic Growth, 1998
Most reading is from journal articles
11. Student Feedback:
Feedback is through a module evaluation form, the Student-Staff Consultative Committee and informal feedback. The evidence and resulting decision is reported back to students through the Consultative Committee after discussion at the Graduate Committee and School Meetings.
12. Resource Requirements:
Library and Computing: no major implications.
Staff: resources available.
Timetable: provision already exists.
Convenor: A.P. Thirlwall.
School Approval (I confirm that the School has approved the proposal for the reapproval of the module and will be responsible for its resourcing).