Nearly one billion people live on $2.00 or less per day. This course is designed to introduce students to the causes, constraints, contexts, and potential solutions associated with poverty and economic development. Focus is placed on the application of microeconomic theory and statistical analysis to understand causes of poverty and critically evaluate poverty alleviation policies in low income countries.
Fundamentals of consumption economics. Theory of consumer preferences and utility with emphasis on choice, demand, uncertainty, and time. Competitive markets, exchange, welfare and efficiency are considered. The economics of information (moral hazard, adverse selection, signalling) are explored.
Eight hundred million people in our world are hungry. Sixteen thousand children die each day from hunger-related causes. World Bank figures show that three billion people live on less than $2.50 dollars per day. Many of these people live in rural areas and most of these people make their meager living from agricultural production and services. This course presents the student with an in-depth understanding of the economics of the rural poor, particularly those in the agricultural sector. Students will become familiar with the microeconomic tools and statistical methods utilized to understand and empirically analyze the agricultural development challenges in lower income countries.
This course demonstrates the practical application of the economic theory and techniques developed in your previous courses. On-going and published research is used to teach the step by step process of using economic theory to understand and analyze issues in the agricultural sector. Additionally, current issues and policies are selected to guide you through the process of translating an economic problem into a researchable question.
National economic problems such as unemployment, recessions, inflation, taxation, bank interest rates, the growth of government, monetary systems, and a rising national debt are discussed along with the principles, policies, and institutions for solving these macroeconomic problems.