Economics of Less Developed Countries

(3 Credit Hours) · Undergraduate

The problems facing the less developed countries of the Third World are among the greatest challenges facing the world today. This module will focus on the diverse structures and common characteristics of less developed countries and will offer an evaluation of policies being pursued. The module begins by discussing the idea of economic development before moving onto sources of and barriers to development. It uses contemporary models of economic development to investigate why some countries are rich and others are poor. The inherent challenges of development policymaking will be considered, before the success and failure of trade, finance and aid policies in less developed countries is examined. The central role of macro and micro institutions in economic development is considered in detail.