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SP10203: Development economics: microeconomic perspective

[Page last updated: 11 August 2020]

Follow this link for further information on academic years Academic Year: 2020/1
Further information on owning departmentsOwning Department/School: Department of Social & Policy Sciences
Further information on credits Credits: 6      [equivalent to 12 CATS credits]
Further information on notional study hours Notional Study Hours: 120
Further information on unit levels Level: Certificate (FHEQ level 4)
Further information on teaching periods Period:
Semester 2
Further information on unit assessment Assessment Summary: CW20PF80
Further information on supplementary assessment Supplementary Assessment:
SP10203 Reassessment 100% (where allowed by programme regulations)
Further information on requisites Requisites:
Description: Aims:

* To become familiar with core concepts and models explaining production and distribution under conditions of extreme scarcity, including the determinants of poverty and well-being over time;
* To review microeconomic theories relevant to understanding economic change at local, national and global levels, with particular reference to low and middle income countries;
* To assess the strengths and weaknesses of the way microeconomics explains international development and related public policy issues.
* To strengthen the ability of students to apply microeconomic concepts to development issues of their choosing.

Learning Outcomes:

* Familiarity with the language and methodology employed by economists.
* Understanding of the strengths and weaknesses of economic explanations of production, distribution, welfare and development, with reference to specific markets, sectors and economies.
* Understanding of how economic analysis can contribute to policy analysis, particularly formulating strategies for promoting sustainable development.
* A strong foundation for further study of development economics and for understanding how economics relates to other social science disciplines.
* Useful revision (for those who have studied economics before) and insights into directions for more in-depth study.

Skills:
Ability to relate (economic) theory and concepts to contemporary debates and policy issues. Ability to obtain empirical information in order to produce an original market study locating it within a wider international development context.

Content:
The content is looking at demand for a single good or service (1) then turn to the supply side and to production economics (2), supply and demand together under different assumptions about the nature of competition (3). From this foundation we then explore allocation of labour (4) and capital (5) through market and non-market institutions, moving onto closed system models of resource allocation (6). We also graduate from seeking to understand how economic institutions work to evaluating how well they work through cost-benefit analysis (7). The next step is to understand how economies operate as closed (8) and open-ended systems (9). This takes us finally to a comprehensive framework for understanding the microeconomic determinants of economic growth, structural change, inequality, poverty and exclusion at national and global levels (10). Each lecture will be illustrated with reference to examples from low and middle income countries, and reflect on how the context of poverty, inequality, weak infrastructure and governance affects the operation of market and non-market institutions of resource allocation.
Further information on programme availabilityProgramme availability:

SP10203 is a Designated Essential Unit on the following programmes:

Department of Social & Policy Sciences
  • UHSP-AFB21 : BSc(Hons) International Development with Economics (Year 1)
  • UHSP-AKB21 : BSc(Hons) International Development with Economics with Year long work placement (Year 1)

SP10203 is Optional on the following programmes:

Department of Economics
  • UHES-AFB03 : BSc(Hons) Economics (Year 1)
  • UHES-AAB03 : BSc(Hons) Economics with Study year abroad (Year 1)
  • UHES-AKB03 : BSc(Hons) Economics with Year long work placement (Year 1)
  • UHES-AFB01 : BSc(Hons) Economics and Politics (Year 1)
  • UHES-AAB01 : BSc(Hons) Economics and Politics with Study year abroad (Year 1)
  • UHES-AKB01 : BSc(Hons) Economics and Politics with Year long work placement (Year 1)
  • UHES-ACB01 : BSc(Hons) Economics and Politics with Combined Placement and Study Abroad (Year 1)
  • UHES-ACB03 : BSc(Hons) Economics with Combined Placement and Study Abroad (Year 1)

Notes: