Class History: Economic Development (Fall 2017)

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Course: Economic Development (Fall 2017) 

This page summarizes all the classes (including extra classes) of the course Economic Development (Fall 2017).

• • Regular classes (usually on Mondays and Wednesdays at 12:30 PM): 23

  • Extra classes: 0

  • Total classes: 23

Class 1

September 11, Room 1002, Time 12:35

Class 2

September 13, Room 1002, Time 12:40 - 1:35 

Course outline given to the class. 

Orientation class: A brief overview of the whole course.

Class 3

September 18, Room 1002, Time 12:35 - 1:45 

Chapter 1. Traditional vs. development economics. Various concepts of development: evolution of the concept of development through time. Traditional views of development. Modern views of development. Definition of development and capability.

Class 4

September 20, Room 1002, Time 1:05 - 1:50 PM 

Amartya Sen’s capability approach. Five disparities that reduce a person’s capability of converting income or wealth into benefits. Two ways of increasing capability, based on Amartya Sen’s viewpoint.

Class 5

September 25, Room 1002, 12:50 - 1:55 

Core values of development. Objectives of development. International organizations that contribute to global economic development. Development and happiness.

Class 6

September 27, Room 1002, 12:45 - 1:50 

Chapter 2. Various proxies of development and their pros/cons: GDP, PCGDP, GNI, HDI, MPI. Definition and calculation of GDP. Math: calculate GDP. 

Announcement of class test 1 (quiz) to be held on next Wednesday.

Class 7

October 2, Room 1002, 12:35 – 1:45 PM 

Inflation and its calculation using CPI. Impact of inflation on the economy.

Class 8

October 4, Room 1002, 12:35 – 1:45 PM

Impact of deflation on the economy. Calculation of inflation using GDP deflator. 

Class test (MCQ Quiz).

Class 9

October 9, Room 1002, 1:00 – 1:50 PM 

Calculation of inflation using CPI. GNP and GNI. Math: Calculation of GDP using C, G, I, E, and M. Math: Find out GNI from GDP.

Class 10

October 11, Room 1002, 12:35 – 1:50 PM 

Math: Calculate economic growth from GDP, PCGDP, and PCGNI.

Class 11

October 16, Room 1002, 12:40 – 1:50 PM

Chapter 3. Traditional vs. holistic approaches of measuring development. PPP-adjusted income. HDI (human development index). Dimensions, factors, and goalposts of HDI.

Class 12

October 23, Room 1002, 12:40 – 2:00 PM

Math: Calculation of HDI. Growth without development.

Class 13

October 25, Room 1002, 12:40 – 2:00 PM

Review of the midterm syllabus. Mathematical problem solving.

Midterm Exam

November 1, Room B2-201, Time 3:00 – 4:30 PM 

Syllabus: Chapter 1, 2, 3.

Class 14

November 13, Room 1002, 12:40 – 1:40 PM 

Model and its types. Economic models. Assumption of linear models. Finding the g from a graph. The basics of Harrod-Domar model.

Class 15

November 15, Room 1002, 12:35 – 1:45 PM 

Types of models: Physical, mathematical model > Economic model > Linear models: Harrod-Domar model; Non-linear models. Disposable income. Savings ratio or s. Capital to output ratio or c. Calculating expected g using Harrod-Domar model.

Class 16

November 20, Room 1002, 12:45 - 1:55 

Mathematical concept of Harrod-Domar model - brief review. Applications of Harrod Domar model: (1) Calculation of expected growth; (2) Calculation of savings requirement to achieve a desired growth.

Class 17

November 22, Room 1002, 12:35 - 1:45 

Limitations and criticisms of Harrod-Domar model. Calculation of g from historical growth. Calculating expected economic size after N years and in year-x. Country-A vs. B: an overview.

Class 18

November 27, Room 1002, 12:35 - 1:50 

Country-A vs. Country-B: Detailed procedure of finding N. Mathematics problem. Components of economic growth. Mathematically proved: N = log(B/A) / log((1+gA)/(1+gB))

Class 19

November 29, Room 1002, 1:15 - 2:00 PM 

Chapter 5. Poverty line. Absolute poverty. Number of people live under poverty line in 2012 and in 2015. Homework: between poverty and inequality, which one is the bigger evil?

Class 20

December 4, Room 1002, 12:40 - 1:45 PM 

Poverty line, international poverty line, and absolute poverty. Relative and absolute measures of poverty. Math: headcount index, TPG, APG, and FGT1, with interpretation.

Class 21

December 6, Room 1002, 12:35 - 1:45 PM 

Details on headcount index, TPG, APG, P1 /FGT1, and P2/FGT2. Difference between P1 and P2. Poorest five countries in the world and the position of Bangladesh. Various measures of inequality. An overview on size distribution, Lorenz curve, Kuznets ratio, and Gini coefficient. Countries with highest inequality and the position of Bangladesh.

Class 22

December 8, Room 1002 

Math: calculating Kuznets ratio, Lorenz curve, Gini coefficient.

Class 23

December 13, Room 1002, 1:00 - 2:30 PM 

Chapter 6. Institutional factors. Impact of some institutional factors on the economy. 

Chapter 7. Demand of energy in the future. Large projects in the distant future. Terraforming Mars, cloud cities in Venus, and Dyson sphere. Sustainable development goals.

Final Exam

December 27, Room: B2-301, Time: 2:00 – 4:00 

Syllabus: Chapter 4, 5, 6, 7.

Course Details

• Economic Development (Fall 2017, BBA)