In this setting, the Economics of Development Major provides students with, on the one hand, the theoretical knowledge, policy awareness, and necessary analytical techniques to tackle many of the key issues relating to economic development and, on the other hand, a practical awareness of many recent and past successful development experiences. At the microeconomic level, students will come to appreciate the role of incentives and institutions in driving sustainable economic growth, reducing inequality and poverty, and enhancing human development. They will be able to assess and analyse the relevant economic and non-economic relations underlying the interactions and responses of individuals, households and firms to processes of change.

At the macroeconomic level, students will be made familiar with modern open-economy macroeconomic theory as applied to the study of both long and short-term macroeconomic phenomena in developing economies. There will be an in-depth review of various macroeconomic models, particularly growth models, which are considered important for this study. Students will also be provided with the requisite building blocks to enable them to understand the ongoing economic and financial crises affecting the world economy, and the actual and potential policy responses of countries to these crises.

After completing this Major, students will have a solid knowledge of contemporary academic and policy-making debates in development, including the different economic development perspectives underlying these debates. As a consequence they will be well prepared to participate in decision-making on balanced, sustainable and equitable economic development.

Specializations

Econometric Analysis of Development Policies

The Global Economy

Target group

The Major is designed to train individuals wishing to pursue a career in the academic world, government administration, development banking, international development agencies and NGOs. Find out more about the ISS student body