Economic Development (MLY416) Course Detail

Course Name Course Code Season Lecture Hours Application Hours Lab Hours Credit ECTS
Economic Development MLY416 3 0 0 3 5
Pre-requisite Course(s)
N/A
Course Language Turkish
Course Type N/A
Course Level Bachelor’s Degree (First Cycle)
Mode of Delivery
Learning and Teaching Strategies .
Course Coordinator
Course Lecturer(s)
  • Assoc. Prof. Dr. Esra Şenalp
Course Assistants
Course Objectives In this course, different approaches to development will be critically evaluated.
Course Learning Outcomes The students who succeeded in this course;
  • The student learns the development theories and growth models in a comprehensive way.
Course Content Eeconomic development, important domestic development problems, classical and contemporary economic growth and economic development theories and the meaning and measurement of development and underdevelopment; introduction to basic economic development topics, introduction of necessary mathematical methods and tools, discussion of the articles

Weekly Subjects and Releated Preparation Studies

Week Subjects Preparation
1 Introduction and Preliminary Readings Thorbecke, E. (2007). The Evolution of the Development Doctrine, 1950-2005. In Mavrotas G. and A. Shorrocks (eds.), Advancing Development: Core Themes in Global Economics, New York: Palgrave Macmillan, pp. 3-36. {Çeviri: Neoliberal Küreselleşme ve Kalkınma: Seçme Yazılar (Derleyen ve Yayına Hazırlayan Fikret Şenses) içinde, İstanbul: İletişim Yayınları, 2009, ss. 123-176.} Rapley, J. (2007). Understanding Development, Theory and practice in the Third World, Third Edition, Boulder & London: Lynne Rienner, Chapter 1-5.
2 Traditional Models of Development and Approaches Todaro, M. P. and S. P. Smith (2003). Economic Development, 8th Edition, Addison-Wesley, Chapter 4.
3 Precursors of Growth, Harrod-Domar Model, Solow Model and Sources of Growth Thirlwall, A. P. (2002). The Nature of Economic Growth: An Alternative Framework for Understanding the Performance of Nations, Edward Elgar, Chapter 1&2. İsmihan, M. ve K. Metin-Özcan (2006), Türkiye Ekonomisinde Büyümenin Kaynakları, 1960- 2004, İktisat İşletme ve Finans, 241, 74-86. Yeldan, E. (2011). İktisadi Büyüme ve Bölüşüm Teorileri. 2. Baskı, Efil Yayınevi, Bölüm IV.
4 Internal (new) Growth Models Romer, P. (2008). Beyond Classical and Keynesian Macroeconomic Policy, In Secondi G. (ed.), The Development Economics Reader, London and New York: Routledge, pp. 49-56. Thirlwall, A. P. (2002). The Nature of Economic Growth: An Alternative Framework for Understanding the Performance of Nations, Edward Elgar, Chapter 2. Yeldan, E. (2011). İktisadi Büyüme ve Bölüşüm Teorileri. 2. Baskı, Efil Yayınevi, Bölüm VI&VII.
5 Human Development, Growth, Politics and Development Sen, A. (2008). Perspectives on the Economic Development of India and China, In Secondi G. (ed.), The Development Economics Reader, London and New York: Routledge, pp. 34-40. The Economist (2008). The Poor and the Rich, In Secondi G. (ed.), The Development Economics Reader, London and New York: Routledge, pp. 42-48. Brady, D., and Spence, M. (2009) Leadership and Politics: A Perspective from the Growth Commission, Oxford Review of Economic Policy, 25(2), 205-18. Acemoglu, D. and J. A. Robinson D. (2000). Political Losers as a Barrier to Economic Development, American Economic Review Proceedings, 90 (2), 126-30. [Commission on Growth and Development (2008), The Growth Report: Strategies for Sustained Growth and Inclusive Development, Washington, DC, International Bank for Reconstruction and Development and the World Bank.]
6 Büyüme ve Kalkınmanın Politik Ekonomisi: Türkiye Öniş, Z. ve F. Şenses (2007). Global Dynamics, Domestic Coalitions and a Reactive State: Major Policy Shifts in Post-War Turkish Economic Development, METU Studies in Development, 34 (2), 251-286. {Neoliberal Küreselleşme ve Kalkınma: Seçme Yazılar (Derleyen ve Yayına Hazırlayan Fikret Şenses) içinde, İstanbul: İletişim Yayınları, 2009, ss. 705-744.} İsmihan, M (2009). Kronik İstikrarsızlık ve Potansiyel Büyüme Hızı: Türkiye Deneyimi, 1960-2006. DEÜ İİBF Dergisi, 24 (1), 73-91. Altuğ, S., Filiztekin, A. and Ş. Pamuk (2008). Sources of long-term economic growth for Turkey, 1880–2005. European Review of Economic History, 12(3), 393-430. [İsmihan, M., Metin-Özcan K. and A. Tansel (2005) The Role of Macroeconomic Instability in Public and Private Capital accumulation and Growth: The Case of Turkey 1963-1999, Applied Economics, 37 (2), 239-251.]
7 Demand Directional Growth: Manufacturing Industry, Exports, Balance of Payments Constraints and Thirlwall's Law Thirlwall, A. P. (2002). The Nature of Economic Growth: An Alternative Framework for Understanding the Performance of Nations, Edward Elgar, Chapter 4&5. Thirlwall, A. P. (2011). Balance of payments constrained growth models: History and overview. PSL Quarterly Review, 64(259), 307-351. Available at SSRN: http://ssrn.com/abstract=2049740 Aricioglu, E., Ucan O & Sarac, T. B. (2013). Thirlwall’s Law: The Case of Turkey, 1987–2011. International Journal of Economics and Finance, 5 (9), 59-68.
8 Instability, Expenditure Dynamics, Politics, Productivity and Growth İsmihan, M. and F. G. Özkan (2005). Political Instability, Public Investment, and Macroeconomic Performance. Economics Bulletin, 5(2), 1-12. Easterly, W. (2002). The Elusive Quest for Growth: Economists Adventures and Misadventures in the Tropics, Cambridge, Massachusetts and London: The MIT Press, pp. 217-239. Rodrik, D. (1999). Where Did all the Growth Go? External Shocks, Social Conflict and Growth Collapses. Journal of Economic Growth, 4, 385–412. İsmihan, M. (2012). The Political Economy of Productivity Collapses and Accelerations: The Turkish Experience, 1950-2010, Presented in the International Conference on Economics III, Çeşme-İzmir, November, 1-3. [Alesina, A. and D. Rodrik (1994). Distributive Politics and Economic Growth. Quarterly Journal of Economics, 109(2), 65-90.]
9 Geography, Institutions, Democracy and Development Acemoglu, D. (2003). Root Causes: A Historical Approach to Assessing the Role of Institutions in Economic Development, Finance & Development, 40 (2), June 2003, 27-30. Rodrik, D. and A. Subramanian (2003). The Primacy of Institutions (And What This Does and Does Not Mean), Finance & Development, 40 (2), June 2003, 31-34. Sachs, J. D. (2003). Institutions Matter, But Not for Everything: The Role of Geography and Resource Endowments in Development Should Not be Underestimated, Finance & Development, 40 (2), June 2003, 38-41. Barro, R. J. (2008). Democracy and Growth, In Secondi G. (ed.), The Development Economics Reader, London and New York: Routledge, pp. 92-98. Rodrik, D. (2000). Institutions for High-Quality Growth: What They Are and How to Acquire Them, Studies in Comparative International Development, 35(3), 3-31.
10 Poverty and Development Banerjee, A. V. and E. Duflo (2008). The Economic Lives of the Poor, In Secondi G. (ed.), The Development Economics Reader, London and New York: Routledge, pp. 146-170. Şenses, F. (2008). Missing Links in Poverty Analysis in the Age of Neoliberal Globalization: Some Lessons from Turkey, New Perspectives on Turkey, 38, 61-81. {Çeviri: Neoliberal Küreselleşme ve Kalkınma: Seçme Yazılar (Derleyen ve Yayına Hazırlayan Fikret Şenses) içinde, İstanbul: İletişim Yayınları, 2009, ss. 679-704.} The Economist (2008). New Thinking About an Old Problem, In Secondi G. (ed.), The Development Economics Reader, London and New York: Routledge, pp. 172-76.
11 Inequality and Development Birdsall, N. (2008). Inequality Matters, In Secondi G. (ed.), The Development Economics Reader, London and New York: Routledge, pp. 135-145. Galor, O. (2009). Inequality and Economic Development: An Overview, http://www. brown.edu/Departments/Economics/Papers/2009/2009-3_paper.pdf. Barro, R. J. (2008). Inequality and Growth Revisited, Working Paper Series on Regional Economic Integration No:11, Asian Development Bank. Easterly, W. (2007). Inequality Does Cause Underdevelopment: Insights from a New Instrument. Journal of Development Economics, 84(2), 755-776. [Engerman, S. L. and K. L. Sokoloff (2000). Institutions, Factor Endowments, and Paths of Development in the New World. Journal of Economic Perspectives, 14(3), 217–232.]
12 Globalization, Washington Reconciliation, Global Crisis and Post. Williamson, J. (2008). A Short History of the Washington Consensus, In Serra N. and J. E. Stiglitz (eds.), The Washington Consensus Reconsidered, Towards a New Global Governance, New York: Oxford University Press, pp. 14-30. Stiglitz, J. E. (2008). Is there a Post-Washington Consensus Consensus?, In Serra N. and J. E. Stiglitz (eds.), The Washington Consensus Reconsidered: Towards a New Global Governance, New York: Oxford University Press, pp. 41-56. A Group of Economists (2008). The Barcelona Development Agenda, In Serra N. and J. E. Stiglitz (eds.), The Washington Consensus Reconsidered: Towards a New Global Governance, New York: Oxford University Press, pp. 57-60. Stiglitz, J. E. (2013). The Post-Crisis Crises, Project Syndicate. http://www.project-syndicate.org/print/global-warming--inequality--and-structural-change-by-joseph-e--stiglitz [Öniş Z. and F. Şenses (2005). Rethinking the Emerging Post-Washington Consensus, Development and Change, 36 (2), 263-90. {Çeviri: Neoliberal Küreselleşme ve Kalkınma: Seçme Yazılar (Derleyen ve Yayına Hazırlayan Fikret Şenses) içinde, İstanbul: İletişim Yayınları, 2009, ss. 347-385.}] [İsmihan, M., H. Olgun and F. M. Utku (2008). Globalization of National Economies, 1975-2005, International Research Journal of Finance and Economics, 1 (14), 68-81]
13 Policies, Institutions, Growth Strategies and Development Naudé, W., Szirmai, A. & A., Lavopa (2013). Industrialization Lessons from BRICS: A Comparative Analysis, IZA Discussion Papers 7543, Institute for the Study of Labor (IZA). Rodrik, D. (2008). A Practical Approach to Formulating Growth Strategies, In Serra N. and J. E. Stiglitz (eds.), The Washington Consensus Reconsidered: Towards a New Global Governance, New York: Oxford University Press, pp. 356-66. Acemoglu, D. and J. A. Robinson (2006). Paths of Economic and Political Development, In Weingast B. R. and D. A. Wittman (eds.), The Oxford Handbook of Political Economy, New York: Oxford University Press, pp. 673-692. Bluhm, R. and A. Szirmai, 2012. Institutions and long-run growth performance: An analytic literature review of the institutional determinants of economic growth, UNU-MERIT Working Paper Series 033, United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology. [Hausmann, R., Rodrik, D. and A. Velasco (2008). Growth Diagnostics, In Serra N. and J. E. Stiglitz (eds.), The Washington Consensus Reconsidered: Towards a New Global Governance, New York: Oxford University Press, pp. 324-55.] [Stiglitz J. E. (2005). Development Policies in a World of Globalization, Putting Development First: The Importance of Policy Space in the WTO and International Financial Institutions, Gallagher K. (ed.), London ve New York: Zed Books, pp. 15-32. {Neoliberal Küreselleşme ve Kalkınma: Seçme Yazılar (Derleyen ve Yayına Hazırlayan Fikret Şenses) içinde, İstanbul: İletişim Yayınları, 2009, ss. 281-306.}]
14 Article Presentations
15 Article Presentations
16 Final Exam

Sources

Course Book 1. Thorbecke, E. (2007). The Evolution of the Development Doctrine, 1950-2005. In Mavrotas G. and A. Shorrocks (eds.), Advancing Development: Core Themes in Global Economics, New York: Palgrave Macmillan
2. Thirlwall, A. P. (2002). The Nature of Economic Growth: An Alternative Framework for Understanding the Performance of Nations, Edward Elgar
3. Yeldan, E. (2011). İktisadi Büyüme ve Bölüşüm Teorileri. 2. Baskı, Efil Yayınevi

Evaluation System

Requirements Number Percentage of Grade
Attendance/Participation - -
Laboratory - -
Application - -
Field Work - -
Special Course Internship - -
Quizzes/Studio Critics - -
Homework Assignments - -
Presentation 2 30
Project - -
Report - -
Seminar - -
Midterms Exams/Midterms Jury 1 30
Final Exam/Final Jury 1 40
Toplam 4 100
Percentage of Semester Work
Percentage of Final Work 100
Total 100

Course Category

Core Courses
Major Area Courses
Supportive Courses X
Media and Managment Skills Courses
Transferable Skill Courses

The Relation Between Course Learning Competencies and Program Qualifications

# Program Qualifications / Competencies Level of Contribution
1 2 3 4 5
1 Have an advanced level of basic theoretical knowledge on the field of public finance in order to obtain the practical gains.
2 Identify the issues related to the field of public finance by dealing with it within the framework of the methodological approach, and report and evaluate it from an analytical point of view.
3 Understand, interpret and analyse economic and financial events, equipped with knowledge of certain disciplines, especially economics, business and law.
4 Develop policies and strategies for solving the problems by establishing the cause-effect relationship related to fiscal and economic issues through theoretical information and the discussions.
5 Establish the relationship of public financial management and budget theory with public policies, he/she makes strong budget analysis, develop analysis on public finance and makes a link with the policy implementation
6 Understand the tax theory, learning the legal structure, following the legal and financial developments and gaining a professional competence in tax matters effectively develop it.
7 Have knowledge of accounting systems in private and public institutions and businesses, analyze and interpret the financial and financial structure of institutions with the knowledge and competence gained.
8 Gain knowledge of macroeconomic framework and growth theory, including theoretical and country examples, evaluates economic developments from a theoretical perspective.
9 Use foreign language in financial and economic fields, follow international literature, communicate on professional issues.
10 Benefit from technological developments in studies specific to its field by using information technologies, digital developments and common software.
11 Use qualitative and quantitative methods for the analysis of economic, financial, social and institutional events. X
12 While fulfilling its academic and professional responsibilities, develop an approach that respects s United Nations sustainable development goals, freedoms, rights of the disadvantaged groups, environment, cultural and moral values. X

ECTS/Workload Table

Activities Number Duration (Hours) Total Workload
Course Hours (Including Exam Week: 16 x Total Hours) 16 3 48
Laboratory
Application
Special Course Internship
Field Work
Study Hours Out of Class
Presentation/Seminar Prepration 2 30 60
Project
Report
Homework Assignments
Quizzes/Studio Critics
Prepration of Midterm Exams/Midterm Jury
Prepration of Final Exams/Final Jury 1 17 17
Total Workload 125