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                      MA (ECONOMICS) 
                      FINAL SEMESTER 
                   SUBJECT CODE: ECO501 
                 DEVELOPMENT ECONOMICS 
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
                               
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                                                             BOARD OF STUDIES 
                   1.      Prof. S.K Nayak                                                      
                           Head                                                                Chairman (Ex-officio) 
                           Dept. of Economics, RGU 
                                                                                               Member 
                   2.      Prof. A. Mitra 
                           Dept. of Economics, RGU 
                                                                                               Member 
                   3.      Prof. (Ms.) V. Upadhyay 
                           Dept. of Economics, RGU 
                                                                                               Member 
                   4.      Prof. N.C Roy 
                           Dept. of Economics, RGU 
                                                                                               Member 
                   5.      Prof. M P Bezbaruah 
                           Dept. of Economics, 
                           Guwahati University, Guwahati 
                                                                                               Member 
                   6.      Dr. Raju Mondal 
                           Dept. of Economics, 
                           Assam University, Silchar, Assam 
                                                                                               Member Secretary 
                   7.      Dr. LijumNochi 
                           Dept. of Economics, RGU 
                    
                    
                   Authors: - 
                   Prof. N.C. Roy, Dept. of Economics, RGU (Unit: I) 
                   Dr. Lijum Nochi, Dept. of Economics, RGU (Unit: IV) 
                   Dr. P. B. Baruah, Dept. of Economics, RGU (Unit: I, II, VII & VIII) 
                   Dr. Maila Lama, Dept. of Economics, RGU (Unit: V, VI, IX & X) 
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
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                                      SYLLABI-BOOK MAPPING TABLE 
                                            PAPER NO: MAECO501 
                                        DEVELOPMENT ECONOMICS 
               
              SYLLABI                                                                     Mapping 
                                                                                          in Book 
              Unit – I :CONCEPT OF ECONOMIC DEVELOPMENT                                    
              Economic  Growth  and  Economic  Development  -  Economic  Development  - 
              Measurement  of  economic  development  problems  -  Obstacles  to  Economic 
              Development – Technology - Kuzets’ characteristics of Modern Economic Grash. 
                                                                                           
              Unit – II : THEORIES OF UNDERDEVELOPMENT 
              Dualism  and  Backward  Bending  Supply  Curve  -  Vicious  Circle  of  Poverty  - 
              Nelson’s Low Level Equilibrium Trap - Critical Minimum Effort - Paul Baran’s 
              Theory of Underdevelopment - Myrdal's Theory of Cumulative Causation. 
                                                                                           
              UNIT-  III  :  CLASSICAL,  SCHUMPETERIAN  AND  MARXIAN 
              THEORIES OF GROWTH 
              Adam Smith’s theory of Growth - Multhus Theory of Growth - Ricardo’s Theory 
              of Growth - Schumpeter’s Theory of Growth - Marxian theory of Reproduction. 
                                                                                           
              UNIT-IV : NEO-CLASSICAL AND CAMBRIDGE MODELS OF 
              ECONOMIC GROWTH 
              Harrods Model of Growth – Domars Mode of Growth -     Solow Growth Model 
              -      Cambridge Model of growth (Joan Robinson) 
                                                                                           
              UNIT – V : TECHNICAL CHANGE 
              Hicksian and Harrodian Versions of Neutral Technical Progress - Labour and 
              capital  Augmenting  Technical  progress  (Harrod  and  Solow  versions)  - 
              Disembodied  and  embodied  Technical  Progress  -  Overview  of  Endogenous 
              growth theory - Growth under vintage capital model. 
                                                                                           
               
              UNIT-VI : APPROACHES TO ECONOMIC DEVELOPMENT  
              Traditional approaches to Development - Rodan’s Theory of big push - Nurkse's 
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       Model of Balanced Growth - Unbalanced Growth –Hirschman’s Strategy - Ranis 
       –Fei Model. 
                                             
       UNIT –VII : HUMAN CAPITAL AND SOCIAL CAPITAL 
       Human Capital  -  Process  of  Human  Capital  Formation  -  Human  Capital  and 
       Unemployment  -  Role  of  Market  in  an  Economy  -  Role  of  Government  in 
       Developing Economies - Role of Community in Economic Development. 
                                             
       UNIT– VIII : ALLOCATION OF RESOURCES AND ECONOMIC 
       DEVELOPMENT 
       Need for Investment Criteria in Developing Countries - Rate of Turnover 
       Criterion - Social Marginal Productivity Criterion - Marginal Per Capita Re-
       investment Criterion - Time Series Criterion - Little- Mirrlees Cost Benefit 
       analysis of Projects 
                                             
       UNIT – IX : DEVELOPMENT PLANNING 
       Economic Planning - Input-output Analysis - Sectoral Projection  in Planning: 
       Plan  models  in  India  -  The  Fifth  Plan  Model  -  Plan  in  a  Market  Oriented 
       Economy. 
                                             
       UNIT X : TRADE AND POLITICAL ECONOMY OF DEVELOPMENT 
       Import substitution and export led growth  - Krueger’s Model of Rent seeking 
       society -  Institution and Development: Contribution of Stephen Knock and Philip 
       Keefer - Foreign Direct Investment, Institutional Investment Development.