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Economic Development

This page summarizes the course "Economic Development" for Summer 2018 semester only. This summary may not be compatible to the same course completed in a different semester.


Even in this modern world, more than 700 million people live under absolute poverty. This course provides, from both theoretical and quantitative perspective, an insight into poverty, and its counterpart -- inequality. It also covers the traditional and modern concepts of development, various approaches of measuring development, classic theories in this field, institutional factors, tax optimization, and other related issues. Moreover, the economic development and related issues in Bangladesh and South Asia are focused. The course is concluded with a discussion on what might happen in the near and distant future if the development of the human civilization continues. 

This course requires good mathematical skills, including differential calculus. 


After successfully completing this course, students should be able to:
  • Define what development is, from both traditional and modern perspective
  • Measure real economic growth using traditional approach
  • Measure the development status of a country using human development index
  • Identify and explain factors behind development, based on popular Harrod–Domar model
  • Explain how poverty, inequality, and man-made factors affect the development of a country
  • Demonstrate how government can maximize the tax revenue from luxurious products
  • Illustrate the development and related issues in Bangladesh 
  • Explain key issues behind the slow economic progress in South Asia
  • Explain key notes of SDG
  • Illustrate what may happen to the human civilization if development continues, from the best-case scenario perspective

Books and Course Materials

  • Textbook: "Economic Development." By Michael P Todaro. and Stephen C. Smith. Ed.12. Pearson. ISBN: 9780133406788.
  • Reference book: "Leading Issues in Economic Development." By Gerald M. Meier and James E. Rauch. Ed.8. Oxford University Press. ISBN: 9780195680812
  • Other chapter-specific materials will be provided online. It is the responsibility of the students to collect or download those materials. You may visit this link to learn how to download those items: