Development Economics is taught on the MSc in Global Environmental Economics and is organised around the transformative question “Why are some countries rich and others poor?” This is one of the oldest and most important questions in Economics – Adam Smith’s The Inquiry into the Nature and Causes of the Wealth of Nations was published in 1776. This course introduces students to the field of Development Economics. The objective of the course is to equip students with a greater understanding of the process of economic development and the challenges faced by nations and individuals in the developing world. The course covers a range of topics in development economics from a theoretical and an empirical perspective.

The course begins with reviewing the theories of economic growth and the development process. It focuses on the role of physical, human and social capital, technology and population growth in economic development. Specific attention is paid to the relationships between inequality, poverty and economic growth. Thereafter, the course covers a set of topics of relevance to developing economies, such as health, education, gender, culture and climate.

Focused on Targets: 1.B Create pro-poor and gender-sensitive policy frameworks; 4.7 Education for sustainable development and global citizenship; 8.1 Sustainable economic growth; 10.1 - Reduce income inequalities

Environmental Economic Modelling This module covers a number of key economic modelling approaches typically applied in environmental economics. Topics covered are revealed and stated preference techniques, empirical estimation in climate economics, as well as GIS and spatial methods. The course has an applied policy focus and students learn to estimate and apply several quantitative models, as well as to critically evaluate empirical articles and discuss their policy relevance.

Supporting Target: 4.7 Education for sustainable development and global citizenship