Class code

ECON-UA 9323 001

Instructor Details

Name: Paolo Brunori NYUHome Email Address: paolo.brunori@nyu.edu Office Hours: after classes Villa Ulivi Office Location: 2d floor Villa Ulivi Office Extension:

Class Details

Semester: Fall 2015 Full Title of Course: Development Economics Meeting Days and Times: Thursday, 15.00-17.45 Classroom Location: Villa Ulivi

Prerequisites

Basic notions of macroeconomics and microeconomics. Some data handling is also needed.

Class Description

This course aims at offering a global perspective on development and growth, their main determinants, the long-term changes in the world economy, and the interaction between countries, regulatory systems and firms. One of the major objective of the course is to understand why, during the last decades, some countries have grown faster than others, reducing as well their main sources of vulnerability. Since 1950, 13 developing or emerging economies have grown at an average rate of 7% a year or more for 25 years or longer and have continued to grow, also during the recent economic and financial crisis. These rapid transformations have changed completely the patterns of development and the relationships between developed and developing/emerging countries. The course will mainly focus on the microeconomic and macroeconomic dimension of development and will be organized around two main parts. In the first, after having scrutinized traditional and more recent theories of economic development to provide student with a background, attention will be given to those identified as the main factors affecting growth in developing countries. In the second part, more specific focuses will be devoted to the more recent developments related to: i. the role of larger emerging economies in the global economic order, ii. the rapid changes in the international production system, iii. the role of development policies in promoting growth.

Desired Outcomes

A major component of the course is the use of international economic data to answer relevant questions. We shall therefore deal with simple data analysis. At the end of the course, student

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will be expected to be familiar with main datasets of international organizations (IMF, World Bank, OECD, WTO). They are expected to understand the most relevant features of development trends and be able to discuss issues related to poverty, inequality, conflicts. They should also have to improve their ability to critically engage in discussion and express their thoughts clearly in written essays.

Assessment Components

uring the course, students are expected to actively participate in class discussions and give a presentation based on the analysis of data: present background review of the main literature on the topic; present the data; interpret the data; tackle the Q&A session. Students are also expected to keep up with current developments in the global economy by checking the electronic articles and discussions going on in the most relevant arenas, including: - Project syndicate (http://www.project-syndicate.org/ ) - The Economist ( http://www.economist.com/ ) - Let’s talk development (http://blogs.worldbank.org/developmenttalk/ ) The mid-term and final exam have similar structure and will consist of identification questions and short essays (300 words). The final exam is worth 35% Midterm 30% Presentation 20% (25 minutes) Participation in classes (including assessments) and discussion 15% Failure to submit or fulfill any required course component results in failure of the class.

Assessment Expectations

Grade A: The student makes excellent use of empirical and theoretical material and offers structured arguments in his/her work. The student writes comprehensive essays/exam questions and his/her work shows strong evidence of critical thought and extensive reading.

Grade B: The candidate shows a good understanding of the problem and has demonstrated the ability to formulate and execute a coherent research strategy

Grade C: The work is acceptable and shows a basic grasp of the research problem. However, the work fails to organize findings coherently and is in need of improvement

Grade D: The work passes because some relevant points are made. However, there may be a problem of poor definition, lack of critical awareness, poor research

Grade F: The work shows that the research problem is not understood; there is little or no critical awareness and the research is clearly negligible

Grade conversion

A=94-100 A-=90-93 B+=87-89 B=84-86 B-=80-83 C+=77-79 C=74-76

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C-=70-73 D+=67-69 D=65-66 F=below 65

Grading Policy

Please refer to Assessment Expectations and the policy on late submission of work

Attendance Policy

Attendance: Study abroad at Global Academic Centers is an academically intensive and immersive experience, in which students from a wide range of backgrounds exchange ideas in discussion-based seminars. Learning in such an environment depends on the active participation of all students. And since classes typically meet once or twice a week, even a single absence can cause a student to miss a significant portion of a course. To ensure the integrity of this academic experience, class attendance at the centers is mandatory, and unexcused absences will be penalized with a two percent deduction from the student’s final course grade. Students are responsible for making up any work missed due to absence. Repeated absences in a course may result in failure. For courses that meet once a week, one unexcused absence will be penalized by a two percent deduction from the student’s final course grade. For courses that meet two or more times a week, the same penalty will apply to two unexcused absences. Excused Absences: In case of absence, regardless of the reason, the student is responsible for completing missed assignments, getting notes and making up missed work in a timely manner based upon a schedule that is mutually agreed upon between the faculty member and the student

The only excused absences are those approved by the Office of Academic Support; they are as follows:

Absence Due to Illness

●  If you are sick, please see a doctor (contact the OSL for information). ●  Only a medical certificate from a local medical professional will be accepted to justify an absence due to illness ●  Within 24 hours of your return to class you must bring this note to the Office of Academic Support, located on the ground floor of Villa Ulivi. We will review the medical certificate and we will notify your faculty via email about your justified absence due to illness ●  Absences for short term illness without a medical certificate are not justified and count as unjustified absences. We will not accept a student email or telephone call regarding an absence due to illness. We will not notify your faculty about these absences ●  The Office of Student Life, when assisting you in cases of severe or extended illness, will coordinate with the Office of Academic Support to properly record your absences

Due to Religious Observance

●  Students observing a religious holiday during regularly scheduled class time are entitled to miss class without any penalty to their grade. This is for the holiday only and does not include the days of travel that may come before and/or after the holiday

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●  Students must notify their professor and the Office of Academic Support in writing via email one week in advance before being absent for this purpose

Due to a class conflict with a program sponsored lecture, event, or activity ●  All students are entitled to miss one class period without any penalty to their grade in order to attend a lecture, event or activity that is sponsored by NYU Florence or La Pietra Dialogues, Acton Miscellany or the Graduate Lecture series. ●  Students must notify their professor and the Office of Academic Support in writing via email one week in advance before being absent for this purpose

Students with questions or needing clarification about this policy are instructed to contact a member of the Office of Academic Support located in Villa Ulivi or to email florence.academicsupport@nyu.edu

Late Submission of Work

● All course work must be submitted on time, in class on the date specified on the

syllabus. ● To request an extension on a deadline for an assignment, students must speak to the

professor one week prior to the due date ● To receive an incomplete for a course at the end of the semester, two weeks before

final exams, both the student and the faculty member must meet with the Assistant Director of Academic Affairs to review the request and if granted, they must both sign an Incomplete Contract detailing the terms for completing missing coursework.

Plagiarism Policy

PLAGIARISM WILL NOT BE TOLERATED IN ANY FORM: The presentation of another person’s words, ideas, judgment, images or data as though they were your own, whether intentionally or unintentionally, constitutes an act of plagiarism. In the event of suspected or confirmed cases of plagiarism, The faculty member will consult first with the Assistant Director for Academic Affairs as definitions and procedures vary from school to school. Please consult the “Academic Guidelines for Success” distributed on your USB key at Check-in and on the NYU Florence Global Wiki. For a detailed description of some possible forms of plagiarism and cheating please consult the Community Compact that you signed at Orientation, a copy of which is on the above mentioned Wiki and USB key.

Required Text(s)

Todaro, M.P. and Smith, S.C. (2014) Economic Development, 12th Edition, Pearson.

Supplemental Texts(s) (not

required to purchase as

copies are in NYU-L Library

or available on line)

Abhijit V. Banerjee & Esther Duflo “Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty”, Public Affairs, New York, 2011. Dambisa Moyo (2009). Dead Aid: Why Aid Is Not Working and How There is Another Way for Africa. New York: Farrar, Straus and Giroux. Thomas Piketty. Capital in the Twenty-First Century, Harvard University Press, 2014.

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Michael Spence. The Next Convergence: The Future of Economic Growth in a Multispeed World. (2012), Straus and Giroux. Gérard Roland “Development Economics”, 1st edition, Pearson 2013.

Internet Research

Guidelines

The careful use of internet resources is encouraged and a list of recommended websites will be given. Failure to cite internet and other non-traditional media sources in your written work constitutes plagiarism.

 

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Additional Required Equipment

N/A

 

Session 1

3/09/2015

Introduction to development

- Todaro & Smith Ch. 1-2 - Wolfers, 2009, “What Does the

Human Development Index Measure?”

- Rodriguez, 2009, “What Does the Human Development Index Really Measure?”

Session 2

10/09/2015

models of economic growth

- Todaro & Smith Ch. 3 - A Discussion with Nobel Laureate

Michael Spence, 2012.

Session 3

17/09/2015

models of economic growth

- Todaro and Smith ch. 4

Session 4

24/09/2015

Income distribution and poverty

- Todaro and Smith ch. 5 - Chandy et al., 2013, “The Final

Countdown:Prospects for Ending Extreme Poverty by 2030”

Session 5

1/10/2015

Inequality and growth

- Milanovic (2014) “The return of

patrimonial capitalism: review of Thomas Piketty’s Capital in the 21st century.”

- Ostry et al., 2014, “Redistribution, Inequality, and Growth”

Session 6

08/10/2015

Economic planning

- Todaro and Smith Ch 11 (pp.

511-524) - Breisinger, et al. (2009) "Social

Accounting Matrices and Multiplier AnalysisAn Introduction with Exercises"

Session 7

15/10/2015

Mid term exam

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Session 8

22/10/2015

The evaluation of development policies

- Gertler et al., 2011, “Impact Evaluation in Practice” Ch. 4 pp. 49-80

- J-PAL Polocy Brief Case, November 2011, “Incentives for immunization”

Session 9

05/11/2015

The role of institutions

- Acemoglu et al., 2001, "The Colonial

Origins of Comparative Development: An Empirical Investigation"

- Acemoglu et al., 2002, “Reversal of Fortune: Geography and Institutionsin the Making of the Modern World Income Distribution”

Session 10

12/11/2015

Trade and economic complexity

- Hausman et al. (2011) “The Atlad of Complexity”.

Session 11

19/11/2015

FDI

- Lipsey, 2004, “Home and Host Country Effects of FDI”

Session 12

26/11/2015

Aid and Debt

- Todaro and Smith Ch. 14 - D. Moyo (2009) “ Dead Aid: Why

Aid Is Not Working and How There is Another Way for Africa.”

Session 13

03/12/2015

Presentations + Review

Session 14

10/11/2015

Final Exam

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Session 15

t.b.a

extra activity

 

Classroom Etiquette

● Eating is not permitted in the classrooms. Bottled water is permitted. ● Cell phones should be turned off during class time. ● The use of personal laptops and other electronic handheld devices are prohibited in the

classroom unless otherwise specified by the professor. ● We recycle! So keep it green! Please dispose of trash in the clearly marked recycle bins

located throughout the on campus buildings

Required Co-curricular

Activities

Suggested Co-curricular

Activities

“Suggested optional co-curricular activities will be announced in class and/or via email by the professor throughout the semester.”

Your Instructor

Paolo Brunori is Assistant Professor of Economics at the University of Bari. He previously held a position as research assistant at the European University Institute. He holds a MA in Political Science (University of Florence) and a PhD in Economics (University of Bari). He was visiting fellow at CORE (Université Catholique de Louvain) and ISER (University of Essex). His research interests are in the fields of distributional analysis and policy evaluation. http://scholar.google.it/citations?user=2eAS3gwAAAAJ&hl=it

   

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