Class History: Economic Development (Summer 2018)

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Course: Economic Development (Summer 2018)

Total classes: 24 (18 regular classes and 6 extra classes).

Class 1

May 16; Room 701; Time 1:00 -1:50 

An overview of the whole course.

Class 2

May 28; Room 701; Time 12:30 -1:30 

Traditional economics vs. Development economics. The concept of development. The evolution of traditional view of development.

Class 3

May 30; Room 701; Time 12:50 -1:55 

Modern view of development. Definition of development from modern viewpoint. The meaning of capabilities. Amartya Sen’s capability approach in.details, including five disparities.

Class 4

June 4; Room 701; Time 12:30 -1:45 

Happiness and its relationship with the income. Core values and objectives of development. OECD, World Bank, IMF. Popular proxies of development and heir pros-cons.

Class 5

June 6; Room 701; Time 12:50 -1:40 

GDP and its definitions. Measurement criteria of GDP. General formula of GDP calculation. Inflation. Inflation and the economy -- in brief. 

Announcement: class test (MCQ) on June 27 on chapter 1, 2. 

(Last class before the Eid vacation)

Class 6, Class 7 (Extra)

June 25; Room 701; Time: 12:30 -1:45 (class 6), 1:45 -3:05 (class 7) 

Inflation and inflation rate. Calculation of inflation using CPI. Impact of inflation, unemployment, and GDP growth on the overall economy. Deflation and its impact on the economy. Calculation of economic growth using (1) GDP growth, (2) per capita GDP growth, (3) per capita GNI growth.

Class 8

June 27; Room 701; Time: 1:00 -2:10 

Inflation and price level calculation. GDP deflator and inflation. Calculation of the price of a product in.subsequent years from GDP deflator. 

MCQ quiz.

Midterm Exam

July 7. Time: 3:00 PM. Room: B2-106/107

Class 9

July 11; Room 701; Time: 12:50 -2:00 

Holistic approach of measuring development. Traditional approach vs. holistic approach. An overview of human development index.

Class 10

July 16; Room 701; Time: 12:30 -1:35 

PPP-adjusted income (including math). A closer look at human development index. Goalposts of HDI explained.

Class 11

July 18; Room 701; Time: 1:00 - 2:30 

Calculation of HDI when (1) PCGNI is given in PPP-adjusted USD, (2) PCGNI is given in local currency.

Class 12

July 23; Room 701; Time: 1:00 - 2:00 

Sorting several countries based on HDI. Growth without development. Mathematical example on growth without development and interpretation.

Class 13

July 25; Room 701; Time: 1:20 - 2:00 

What are linear models? Harrod Domar model. Math: find out g based on Harrod Domar model.

Class 14

July 30; Room 701; Time: 1:30 - 2:30 

Linear models - an introduction. The basics of Harrod Domar model. Finding g using Harrod Domar model (math).

Class 15, Class 16 (Extra)

August 1; Room 701;

Time: 12:40 - 1:40, 1:40 -2:25 

Applications of Harrod Domar model (two countries, math). Limitations of Harrod Domar model. Finding historical growth rate. Forecasting growth using historical growth (math).

Class 17

August 6; Room 701;

Time: 1:30 -2:35 

Historical growth rate. Finding expected economic size after n years from historical growth rate. The catch up time between two countries (country A vs. B).

Class 18, Class 19 (Extra)

August 8; Room 701;

Time: 12:45 - 1:45; 1:45 -2:30 

Poverty line and international poverty line. Absolute poor people and how they are reducing in number decade by decade. Poverty line in monthly BDT unit. Determining whether a family belongs to the absolute poor group. TPG, APG, FGT1, FGT2, and headcount index.

Class 20, Class 21 (Extra), Class 22 (Extra), Class 23 (Extra)

August 13; Room 701;

Time:

1:20 - 2:30 (class 20)

3:00 - 4:00 (class 21)

4:00 - 5:00 (class 22)

5:00 - 6:00 (class 23) 

Institutional factors and their impact on the economy. Regime shift. 

Supply and demand of energy. Space exploration in the future. Terraforming the Mars. Elon Musk and SpaceX. Contribution of SpaceX behind the launch of Bangabondhu satellite. Kardashev scale: type 0, 1, and 2. Human development index: details of 17 goals.

Class 24

August 29; Room 701; Time: 1:00 - 2:15 

Class Test.

Final Exam

September 8. Time: 2:00. Room: 601

Duration: 2 hours.

Course Details

• Economic Development (Summer 2018)