31526 - ECONOMIC DEVELOPMENT

Conoscenze e abilità da conseguire

At the end of the course student has knowledge of fundamental issues of economic development from a theoretical viewpoint. Basic questions will be asked and a framework for some answers are provided. What hurdles are there to a steady path of economic development? Which the pitfalls? Whence success? Although cast in a historical context, these issues will be framed in an analytical approach: history matters but theoretical simplification is unavoidable.

Contenuti

ECONOMIC DEVELOPMENT

Course Outline

 

  Topics

 

• Introduction: The singularity of economic development.

Sustained economic development: an unprecedented occurrence.

 

 

• The dynamics of extensive growth.

Population dynamics and available surplus. The economy's growth rate: the simple model.

Consumption per head, investment and the rate of growth.

Diminishing returns.

Rent and the critical threshold.

Surplus labour.

The Malthusian crisis.

 

• A crucial question: is development necessary?

      The answer is no. Crises do not necessarily lead to virtuous reactions and  virtuous circles.

     

 

• The Structure of the Economy and Structural change.

A multisectorial view of the economy: from a simple two sector economy to a full fledged n-sector structure.

Generalising the growth process

Sraffa and the basic system.

The classical view: Ricardo and Marx

Technical improvement.

 

 

• Technical progress.

The quintessence of sustained growth: general characteristics. Why is it important?

Kaldor and the post-Keynesian school.

The neo-classical approach: new growth theories

The evolutionary perspective: positive feedbacks and cumulative processes.

 

• Innovation and diffusion

Path dependence and technological  trajectories.

Bounded rationality.

      Learning

Patterns of searching.          

 

 

• Diffusion as self-organisation

The new models of diffusion.

 

• Development theory and developing countries.

Catching up and falling behind.

Constraints to growth.

 

 

 

 

Testi/Bibliografia

References

 

1. The singularity of economic development.

      Landes D.(1999). ‘The Wealth and Poverty of Nations: Why some are so rich and some so       

      Poor. W. W. Norton, New York.

 

     The Cambridge Economic History.

 

      Diamond J. (1997): ‘Guns, Germs and Steel. The Fates of Human Societies.' W.W. Norton 

      & Company, New York.

    

      Diamond J. (2004) : ‘Collapse: How Societies Choose to Fail or Succeed'. Viking and   

      Penguin Books.

    

• Sen A. (1985): ‘Commodities and Capabilities'. North Holland, Amsterdam.

 

1. The dynamics of extensive growth.

      Ricottilli M. (1993): Teoria dello Sviluppo Economico'. La Nuova Italia Scientifica, Roma. 

 

     Thirwall A.P. (1989): ‘Growth and Development: with special reference to developing

     countries'. Palgrave, Macmillan, London.

 

1. Is development necessary?

      Ricottilli M. (1993):‘ Perspectives on Development'. in Vaggi G. (ed.): ‘ From the  

     Debt Crisis to Sustainable Development'. Macmillan, London.

 

1. Structural Change.

Pasinetti. L. (1981): ‘Structural change and economic growth : a theoretical essay on the dynamics of the wealth of nations', Cambridge University Press.

 

Goodwin R.M. (1974): ‘The Use of Normalised General Co-ordinates in Linear Value and Distribution Theory.' In Polenské K.R., Skolka J.V. (eds):  ‘Advances in Input-Output Analysis'. Proceedings of the Sixth Conference on Input-Output Techniques, Wien.

 

Kurz H.D., Salvadori N. (1995):' Theory of Production: a long period analysis.' Cambridge University Press.

 

      Lewis A. (1954): ‘Economic Development with Unlimited Supplies of labour'. ‘The

      Manchester School of Economic and Social Studies' Vol.2, n.2.

 

      Sraffa P.(1960) ‘ Production of Commodities by Means of Commodities. Cambridge
      University Press.  

    

 

1. Structural change as a disequilibrium path.

Hicks  J. (1973): ‘Capital and Time.'  Clarendon Press, Oxford.

 

Ricottilli M. (1993): ‘Teoria dello Sviluppo Economico'. La Nuova Italia Scientifica, Roma.

 

Ricottilli M. (2008): ‘Division of Labour, Traverse and Evolving Structures', in Hagemann H., Scazzieri R., (eds.): ‘Capital, Time and Transitional Dynamics'. Routledge, London.

 

1. The neo-classical approach

Romer D. (2001): ‘Advanced Macroeconomics'. McGraw Hill, Boston.

 

Aghion P., Howitt P.(1998): ‘Endogenous Growth Theory', MIT Press, Cambridge, Mass.

    

1. The evolutionary approach

       Ricottilli M. (1994):'Technical Progress, Innovative Activity and Development'. The

      International Journal of Technology Management. Vol. 9, no.3/4.

 

Dopfer K. (2005): ‘The Evolutionary Foundation of Economics'. Cambridge University Press.

 

Kauffman S. (1993): ‘ The Origin of Order'. Oxford University Press.

 

 

Metodi didattici

See the English version

Modalità di verifica e valutazione dell'apprendimento

See the English version

Strumenti a supporto della didattica

See below the English version

Link ad altre eventuali informazioni

http://www.lmec.unibo.it/LMEC/default.htm

Orario di ricevimento

Consulta il sito web di Massimo Ricottilli