ECON 321 - Development Economics
Dr. Mustofa Mahmud Al Mamun
Office: ECON 2002
Drop-in hours: Tuesdays 11:00-1:00 am
Email: mmamun@unm.edu
Teaching Assistant: Stephania Alarcon Alcala
Office: Econ 1040
Drop-in hours: 12:30 - 2:00 pm (Tuesday and Thursday)
Email: stephalarcon1997@unm.edu
Course Description
This undergraduate course in Development Economics addresses key economic challenges encountered by developing countries, focusing on issues such as income, poverty, inequality, corruption, and human development. We will focus on empirical evidence while we cover the microeconomic aspects of development economics, e.g., human capital (health and education), labor, credit, firms, and the public sector. We will use growth models to analyze trajectories for developing economies. During this process, we will explore why empirical evidence has not always aligned with theoretical predictions.
Textbook
Taylor, J. Edward, and Travis J. Lybbert. 2020. Essentials of Development Economics, Third Edition. 3rd ed. Berkeley, CA: University of California Press. (Required)
Banerjee, Abhijit, and Esther Duflo. 2012.Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty . New York, NY: PublicAffairs. (Required)
Banerjee, Abhijit V., and Esther Duflo. 2021. Good Economics for Hard Times. PublicAffairs. (Optional)
Acemoglu, Daron, and James A. Robinson. 2013. Why Nations Fail: The Origins of Power, Prosperity and Poverty. London, England: Profile Books. (Optional)
Piketty, Thomas. 2017.Capital in the Twenty-First Century . Translated by Arthur Goldhammer. London, England: Belknap Press. (Optional)
Varoufakis, Yanis. 2024. Technofeudalism: What Killed Capitalism. Brooklyn, NY: Melville House Publishing. (Optional)
Acemoglu, Daron, and Simon Johnson. 2023. Power and Progress: Our Thousand-Year Struggle over Technology and Prosperity . PublicAffairs. (Optional)
Student Learning Goals
After successful completion of this course, students will be able to:
- Understand indicators to measure poverty, inequality, and economic development
- Read empirical evidence from Randomized Control Trials (RCT) and natural experiments
- Analyze various growth theories and their relevance to current economic issues
- Understand the relationship between poverty, inequality, and development
- Evaluate the role of institutions, capital, firms, technology, and market on development
- Assess the significance of fertility and population growth
Letter Grades
The following grading scale will be used to determine your final course grade:
| Grade | |
|---|---|
≥ 98% |
A+
|
92 − 97.99% |
A
|
90 − 91.99% |
A-
|
88 − 89.99% |
B+
|
82 − 87.99% |
B
|
80 − 81.99% |
B-
|
70 − 79.99% |
C
|
60 − 69.99% |
D
|
< 60% |
F
|
Assessment
Exams
There will be two midterm exams and a final. Each exam will count for 25% of the total grade. Make-up exams will not be provided. If you miss a midterm exam for any reason, please do not request a make-up exam. I will drop your lowest-scoring midterm. If you miss multiple midterm exams, you may be allowed to make up one (with penalties) if the Dean of Students directly informs me about the extenuating circumstances. The final exam is comprehensive, and attendance is mandatory.
Problem Sets
Problem sets constitute 10% of the total grade. This course will have five problem sets, each carrying a 2% weight. All problem sets and keys will be posted on my website. You will submit your work in PDF format (e.g., you can take pictures of your work and then make a PDF file using Mobile Apps) via Canvas. Please check the Schedule section in this syllabus for submission deadlines.
Class Notes
Class notes will account for 10% of your total grade. You will submit your work in PDF format (e.g., you can take pictures of your work and then make a PDF file using Mobile Apps) via Canvas. Please check the Schedule section in this syllabus for submission deadlines. It is not necessary to be perfect in note-taking to receive full credit. We will contact you if your notes consistently miss important points discussed in class. Please feel free to reach out if you have any questions or concerns.
Quizzes
Quizzes account for 10% of your total grade. There will be three quizzes assigned throughout the semester. Attendance is mandatory to participate in all quizzes. You will hand out your responses in person during class. No make-up options will be available. If you miss a quiz for any reason, you will receive a zero on that quiz. However, I will drop your lowest quiz score.
Readings
Readings are worth 10% of the total grade. A total of five reading assignments will be asked in this semester. All reading assignments will be posted on my website. You will submit your notes in PDF format via Canvas. Please check the schedule section in this syllabus for submission deadlines.
Class Project
The class project in this course is worth 10% of the total grade. This project aims to help you think like a Development Economist. For example, you can explain why some countries remain poor while others grow rich or why inequality matters for economic growth. Please choose a question or topic from the list on my website. Presentation guidelines will be available on the website. You are expected to prepare and present your chosen topic for 7-8 minutes. Presentations will take place in person as scheduled in this syllabus. I and the TA will be available during office hours to discuss project-related queries. Feel free to reach out to us with questions.
Late Submissions
There are penalties for late submissions of your work/assignments. The Canvas submission link may expire if you are unable to meet a deadline. All Canvas submissions are due by 5:00 pm. A late submission before midnight will result in a 2 percent deduction from the total score. After that, a 5 percent penalty will be applied for each day that the submission is late.
Extra Credit
Extra credit opportunities will be awarded twice per semester and offered to the entire class. Please attend all classes to take full advantage of these opportunities. There will be no makeup options, so we kindly request that you do not ask for exceptions or additional opportunities.
Getting Help
Feel free to bring your questions to us during drop-in hours or schedule an appointment for another time to receive one-on-one instruction. The Center for Academic Program Support (CAPS) offers free peer tutoring for this course and others. Seek help from me, the TAs, or a CAPS https://caps.unm.edu/tutor as soon as you don’t understand a topic. Do not wait until the end of the semester.