Study Abroad and Exchanges



ECO3027 : Economics of Development, Transition and Reform (Inactive)

Semester 1 Credit Value: 10
Semester 2 Credit Value: 10
ECTS Credits: 10.0


To enhance understanding of the internal and external factors which affect the level of development and the impact of change in the so-called developing countries and transition economies.

This course provides a framework for understanding the successes and failures of post-war development in the so-called Third World and more recently in the economies in transition from command to market orientation. These encompass a large part of the world economy so it would be unwise to generalize extensively. Economists have sought unifying themes amidst the diversity and a development specialism has emerged. Transition economics is also an emerging specialism. The concepts of structural change and reform in an increasingly global economy may help to integrate these areas of study. Text-book economic principles and models can be applied but their application has to allow for the particular conditions, both internal and external, that a given country faces.

Outline Of Syllabus


• Meaning of development; development vs. economic growth; differences between developing and developed countries.
• Classic Theories I: the Harrod-Domar model and the Lewis model.
• Classic Theories II: The Solow Model; The Endogenous Growth Theory - The Romer model.
• The Coordination Failure Approach to Underdevelopment; the Big Push and the O-Ring theories.
• Income inequality and poverty.
• Education and a model of child labour.
• Agriculture.
• Industrialisation.
• Urbanisation and Migration.


• Debt and Development.
• Finance and Growth.
• Financial Repression.
• Financial Reform.
• Coping with inflows.
• Communism.
• Price and trade liberation
• Privatisation.
• Bank Reform.
• Legal Reform.
• Stabilisation.
• Political Economy of Reform.
• Transition through Integration.
• Growth.
• Inequality.

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Guided Independent StudyAssessment preparation and completion164:0064:00N/A
Scheduled Learning And Teaching ActivitiesLecture152:0030:00N/A
Guided Independent StudyDirected research and reading150:0050:00N/A
Scheduled Learning And Teaching ActivitiesSmall group teaching61:006:00Seminars
Guided Independent StudyIndependent study150:0050:00N/A
Jointly Taught With
Code Title
ECO3101Economics of Development, Transition and Reform (Study Abroad Sem 1)
Teaching Rationale And Relationship

1. Lectures provide an overview of the main topics and their treatment in earlier and current literature.
2. Seminars require students to explore how economic analysis has been applied to particular topics recently and to give oral presentations on their group work.
3. Private study involves following up reading list references for report and examination preparation, and to explore library and website resources independently for the same purpose.

Assessment Methods

The format of resits will be determined by the Board of Examiners

Description Length Semester When Set Percentage Comment
Written Examination1502A70N/A
Other Assessment
Description Semester When Set Percentage Comment
Report2M15Written group report. May be set in Semester 1 or 2
Prof skill assessmnt2M15Oral presentation. May be set in Semester 1 or 2
Assessment Rationale And Relationship

1. The unseen examination is designed to encourage study across a broad range of subject area, mainly using reading list material, while the in-course assignment gives scope for more independent investigation in some depth of a particular area of the syllabus, in collaboration with others.

Resit examination will be an unseen 150 minute written examination

Reading Lists