In this paper, you will demonstrate your mastery of the following course outcomes:
Learning Objectives: After successfully completing this course, you should be able to:
Ø Demonstrate familiarity with some central themes and issues of economic development.
Ø Demonstrate the understanding of the difference between growth and development, major growth theories, the measurement of inequality, significance of agriculture in developing countries, poverty and population issues facing the world, international trade, and importance of foreign aid.
Ø Analyze empirical evidence on the patterns of economic development.
Ø Identify and analyze major theories of economic growth.
Ø Analyze various strategies for developing of less-developed nations.
You will submit a 10 to 12-page comprehensive economic development paper on a developing country of your choice. Your submission should be a polished artifact containing all of the critical elements of the course material and should reflect the incorporation of feedback gained throughout the course. Begin your paper with a general picture of your country and conclude your paper with proposed strategies to accelerate its development.
Introduction
Your paper should begin with a general history of your country.
Country profile – Location, size, population, climate, etc.
General information on growth and development experience – economic system, current income classification, political and social factors, etc.
Special circumstances – Any other information on your country that you consider particularly interesting or unique. This is usually also a key factor in the country’s development experience. For example, a country with colonial history, or civil wars will have these significantly impact their economies.
Topic 2 & Topic 3 – Growth and Development: Measurement and Patterns Where are your country on SDG goals, especially 1 through 6 (this will overlap with many other aspects)? Include specific statistics. What has been the country’s pattern of growth? Rapid or slow, steady or inconsistent, etc. Support with statistics
such as per capital income at different periods e.g. in 1990, 2000, 2010 and more recently. Does the country have any natural resources? Is it being managed properly or is corruption and/or incompetence a problem?
Is the country’s geography favorable? For instance, countries in the tropics have to deal with a greater burden from diseases; erratic climate and violent storms tend to be more concentrated in the tropics; and/or poor-quality soil for agriculture in some areas; landlocked countries are usually isolated from major markets as a result of higher transport costs and fewer economic opportunities than coastal economies and countries located near major markets, etc. All these factors mentioned will affect productivity, and if a combination of factors is present, then the effect is even larger.
Is the country’s labor force increasing? Is productivity (GDP per hour worked) increasing? Support with statistics.
Topic 5 – States and Markets
What is the country’s economic model, market-based or centrally planned with strong government controls? If market-based, is it allowed to function freely or is government intervention frequent and overbearing? Are the institutions (financial, legal, etc.) to support the market basis present and functional? What appear to be the country’s national goals in the area of trade (import substitution, export promotion, protection of some specific industries, etc.)? Does intervention appear to be yielding desired results, for example, is/was a protected infant industry showing signs of being viable and eventually self-sustaining?
Did the country request IMF or World Bank financing? What reforms did it have to undertake (privatization, tax reform, deregulation, removal of trade barriers, price adjustments e.g. removal of subsidies on certain products, etc.)? Were these gradual or “shock therapy”? What has been the result?
Topic 6 – Inequality and Poverty
What is the country’s World Bank income classification and what is its Gini coefficient? What is the proportion of people living below the poverty line? Is inequality increasing or decreasing? Support with statistics e.g. income distribution within quintiles in different periods. What seems to be responsible for increasing
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or decreasing inequality? Does the country’s poverty or inequality situation have gender disparities? Are these fueled by some cultural or religious norms?
Topic 7 – Population
Present a general demographic picture (age structure) of your country’s population. Is fertility currently high or low, and what has been the pattern (increasing/deceasing)? Is there a population policy in place? Are there efforts to steer the people towards increased or decreased fertility? Does the gender distribution suggest evidence of unnatural interference in fertility decisions?
Topic 8 – Education
What is schooling trend in the country? Is schooling mandatory? Is it provided by the government, and if so, to what level? What is the quality? If education is provided for free and is not mandatory, are enrolment levels high? If not, why not? Any gender bias?
Topic 9 – Health
Present health statistics for the country. What has been the trend? Does the government appear to be invested in providing adequate health services for the citizens? Is healthcare standard? What is the reality of health conditions in the country? What are some of the challenges to improving health conditions?
Topic 10 and Topic 11 – Saving, Resource Mobilization, Investment and Growth
What is the tax rate? Does this appear low, reasonable or high? What is the country’s saving to GDP ratio? What has been the source of the country’s saving and investment? Is the country able to attract foreign direct investment? Has it significantly affected growth and development?
Topic 11 – Investment, Productivity and Growth
Is the country able to attract foreign direct investment? Has it significantly affected growth and development?
Conclusion
Conclude your paper with proposed strategies to support your country’s development process. What should the country’s development strategy be? What would be your recommendations given some of the issues you discussed?
