Teaching Notes

Economic Development and Growth

Growth theory and measurement, then the comparative and global context that complicates it, in fifteen short notes.

Core Theory and Measurement

What Does Economic Growth Really Mean?

The traditional idea of growth is just a rising GDP. The newer idea treats that rise as a means, not an end, and refuses five kinds of growth that technically happen but still fail people.

Classical Theories of Economic Development

Rostow's stages of growth, the Harrod and Domar model, Lewis's dual sector model, and Solow's growth model, the earlier theories that the rest of this series builds on and reacts against.

Measuring a Good Life: Todaro, Sen, and the Human Development Approach

Three ways of defining what a good quality of life actually means, from Todaro's core values to Sen's capability approach to the human development approach.

Behind the Numbers: Production, Costs, and a Country's Output

What capital really means in modern economics, how a country's total output is determined, and how economists measure the cost of producing one more unit.

Human Capital: Why Health and Education Drive Growth

Why education and health are both an end in themselves and an engine of growth, and why the returns on each compound when they are invested in together.

The Economics of Educational Demand

Why families really demand schooling, and how the gap between the private and social cost of education can end up deepening inequality rather than closing it.

Measuring Inequality: The Lorenz Curve and the Gini Coefficient

How economists turn unequal income distribution into a curve, and then into a single comparable number, and what can actually be done about it.

Who Is Poor, and How Do We Solve It?

Relative poverty against absolute poverty, why the poverty gap matters as much as the headcount, and the three broad approaches used to close it.

Unemployment: Types, Causes, and Policy Responses

Cyclical, structural, frictional, seasonal, disguised, and under employment are not the same problem, and each calls for a different policy response.

Why Doesn't Growth Always Improve People's Lives?

A closing look at why a rising GDP figure and a better life for ordinary citizens are not the same thing, and what role government and market failures play in that gap.

Comparative Development and the Global Context

Population Growth and Development: The Malthus and Boserup Debate

Does a growing population strain development, or help drive it? Malthus and Boserup, Ehrlich and Simon, and a close look at China and India's contrasting population policies.

Culture, Institutions, and the Long Run Roots of Development

Why some countries ended up rich and others poor across centuries, from Acemoglu, Johnson, and Robinson's reversal of fortune to Hofstede's cultural dimensions and the economics of social capital.

Technology, Innovation, and Entrepreneurship in Development

Where technological progress actually comes from, Schumpeter's creative destruction, and what separates a necessity entrepreneur from an opportunity entrepreneur.

Environment, Climate Change, and the Sustainable Development Goals

Why natural capital gets overused, how climate change falls hardest on developing countries, and how the seventeen Sustainable Development Goals tie it all together.

Globalization and Emerging Markets: A Class Discussion on Stiglitz

Joseph Stiglitz's case for why poorly sequenced globalization hurt many emerging markets, and why East Asia managed to capture its benefits while limiting the damage.

Keywords: economic growth theory Solow growth model Lorenz curve Gini coefficient human development approach Malthus Boserup debate Schumpeter creative destruction Sustainable Development Goals globalization emerging markets