Course: ECON 370. Economic Development (3)
Prerequisites: ECON 160 and ECON 161; Grade of a “C” or better in MATH 103 or MATH 150A or MATH 255A. Class examines why standards of living differ across countries. Economic growth models are used to explain cross-country differences in economic performance. Emphasis is placed on the role of institutions, such as private property rights, in the economic development process. Impact of international trade, exchange rate systems and international debt on developing countries is carefully examined. Effects of government taxation, spending and monetary policies on economic growth and inflation are analyzed. Other issues covered are the impact of financial market development, population growth and agriculture on developing economies.