Skip to main content
Category

Development economics

New Teacher’s Q&A: McGuirk talks about teaching plans and development economics

By Development economics No Comments

Native Ireland, Eoin McGuirk is a assistant professor of economics who joined Tufts this semester. He teaches Basic econometrics (EC-0015). The Tufts Daily spoke to him to find out more about his background, research plans and plans to Tufts.

Daily Tufts (TD): Can you tell us about your background?

Eoin McGuirk (EM): I just Galway West of Ireland. I’ve studied French and economy during my undergraduate years at the National University of Ireland, and I also spent a year at Montpellier, [France]. During my junior and senior years I wasn’t quite sure what I was going to do with my life, but I was always interested in international development, so I made a MA in Economics at University College Dublin. By the time I finished my masters, I was sure that economics was the discipline that would speak to me the most after meeting some amazing mentors and influential professors. I was then prompted to make a Doctorate, which was not something that interested me from a young age; it was a case of what seemed attractive to me at the moment. I did a doctorate in economy To Trinity College Dublin, and I have spent the last two years at the University of California, Berkeley, which was my first introduction to academia in the we Since then there have been a lot of jumps. I did a project in Sierra Leone, spent time in Sweden then I had postdoctoral appointments and Brunette college and Yale University. I met my current wife who is from we, which sort of sealed off where I would end up. Now I am an assistant professor at Tufts in the economics department.

TD: Why Tufts?

EM: Tufts has real strengths in the areas that interest me: development economics, which deals with the economics of poverty and the way out of poverty in the world, and political economy, which uses the tools of economics to understand the political behavior of voters and government institutions. The other reason why Tufts was so well suited that he is very good at applied econometrics – the tools we use to study our fields. It’s great to be in an environment where there is so much emphasis on studying economics. The students are exceptional and the teachers take teaching seriously. Looking at the big picture, living in this part of the we, in particular the Boston region, is second to none.

TD: What are you teaching this semester?

EM: i teach Basic econometrics, which is a compulsory class for people who major in economics. Students will have taken introductory economics and statistics classes, so this will be a way to use statistics to test economic theories in an attempt to determine what causes what in economics. I like it because I think the students are great. They seem engaged, or at least they’re good at pretending, which is just as rewarding for me. There are two small sections – this is the kind of thing that works well in a small group because there is a lot of unfamiliar material for the students. I hope the students get something out of it. What I told them at the beginning is that with econometrics, my goal is not to teach everyone to become an economics researcher. There are critical thinking tools in econometrics that will help you whatever you do, even if you never take an economics class again. Structuring a problem by analyzing its correlation will help students develop the skills to think carefully about that problem in their lives. A basic understanding of econometrics can help you consume research by learning to filter out absurd interpretations of data and make more thoughtful inferences. So maybe I’m a little optimistic about what students can learn from an introductory course, but that’s what I hope some of them are feeling.

TD: Can you tell us about your research?

EM: I mentioned that my interests lie in the overlap of development economics and political economy. One of the subdomains at this intersection is the economics of violent conflict. My last three projects focused on conflict. I’ll give you an overview of what I’ve been working on.

In one of my projects, I wanted to examine the relationship between poverty and conflict. In economics, we ask a classic question related to this discipline: does conflict cause poverty, or does poverty cause conflict? Usually you see conflict in fairly poor areas, and you don’t see civil conflict in fairly wealthy areas. Alongside the co-author Marshal Burke, we examined whether economic shocks (negative economic events) can trigger civil strife in Africa. We had to find an economic shock that was not caused by conflict in Africa focus on… we wanted to experimentally change the increments in some places and not change the increments in other places, using this to determine how the conflict reacts to that. Obviously, we had to turn to a natural experiment because we didn’t have the research budget or the IRB (Institutional Review Board) approval to go ahead with something like that. We have studied what happens after the change in world food prices – world food prices vary for several reasons, but nothing within Africa will wreak havoc on global food prices. We saw that when world food prices increased, there was less civil conflict in the areas that cultivated these crops because the income came in. We saw more civil strife in the areas that consumed these crops, that is, when incomes fell and things became more expensive for consumers. This allowed us to conclude that negative economic shocks cause conflicts in Africa and that when food prices change, you can determine where the conflict decreases and increases.

Right now what I have started recently is to examine how weather events can cause conflict in Africa through migration. If you have a drought in a pastoral area where nomadic areas live, people will migrate to find water. There are often conflict events in the new areas to which nomadic groups migrate.

TD: What do you hope to accomplish at Tufts?

EM: There is a teaching side and a research side. On the teaching side, I can’t wait to see what the students have gained from being in my class. The assessments you complete are important to us teachers. I think basic econometrics are fundamental to the social sciences, so I look forward to modifying the course based on the feedback I get from students. I am also very excited to develop my own course, which I will probably do next year. The subject of political economy really has a moment, so I would like to develop a course for juniors and seniors to explore it. Students would be able to apply their basic skills in microeconomics and econometrics to political problems. This is my dream course, so I hope at least two students show up. On the research side, the experience has already been fruitful and I hope to use the tools of Tufts extend my research. We have internal seminars where we can get feedback on early reflections and ongoing projects that have been beneficial. There is also a new doctorate program that is at the forefront of my mind, which is the PPE (Economy and public policy) joint program with the Fletcher School [of Law and Diplomacy]. Students can specialize in development economics, environmental economics, or political economy in their second year. It’s going to be super exciting to see where the program is going, as it’s only in its third year. I’m excited to make changes to the curriculum alongside other economics professors after seeing how the First Cohort finds its experience and enters the workforce.

TD: Do you have any tips for freshmen?

EM: I was at a retirement event for an economist, and was asked if he had any advice for young researchers. In a roundabout way, he said that everyone’s situation is so different because of their different backgrounds and experiences. Universal advice almost makes no sense. We all have our own way. I’m not sure if there is any other advice I can give other than the obvious tips. If you go to class, study with your friends, and do all your homework, then you will have a good time. Stay on top. This is the most boring universal advice I can imagine. Also, talk to your teachers. It’s a good secret: professors love to talk about their research. Don’t be intimidated to meet them during their office hours as we love when a student is interested in our work and our subject. Maybe this tip was a little less boring, I hope.

TD: Do you have any fun facts about yourself that you would like to share?

EM: I can’t imagine that there are any fun facts that I would like to share… No, I shouldn’t say that. There are no skeletons in my closet. [Laughs] But I have the best dog in the world! He’s a 10-year-old black Labrador. Maybe I’ll take him to campus someday so people can say hello.

Source link

The Open Secret of Development Economics by Yao Yang

By Development economics No Comments

For many in China, this year’s commemorative Nobel Prize in Economics appears to have shone the spotlight on one area of ​​development economics to the detriment of another. While randomized controlled trials can be useful in creating or improving social protection programs, they cannot tell poor countries how to achieve and maintain rapid growth.

BEIJING – This year’s Memorial Nobel Prize in Economics recognizes Abhijit Banerjee, Esther Duflo and Michael Kremer for their work using randomized controlled trials (RCTs) in development studies. This year’s selection drew a wide range of reactions from around the world, not least because RCTs are a source of controversy among academic economists. To many in China, the Nobel Committee once again seems to have missed the Chinese experience of development, which, after all, had nothing to do with RCTs.

Of course, some of these reviews are akin to sour grapes. The Nobel Prize has only been awarded to three Chinese nationals – for literature, medicine and peace – since its inception. Nonetheless, China’s economic history offers important lessons that the current approach to RCT-focused development research has missed. Researchers in this field seem to have forgotten the wisdom of classic development economists of the 1950s: economic development is about taking the difficult but necessary steps to achieve sustained growth.

For example, increasing domestic savings is very difficult, but imperative. Classical development economists such as Pei-Kang Chang, Roy F. Harrod, Evsey Domar, and Robert Solow have seen that saving is essential for boosting economic growth in a poor country. Their central point of view was mainly intuitive: even subsistence farmers know that in order to improve one’s life in the future, one has to save money in the present, in order to buy another plot of land or better equipment with which to improve its current plot.

We hope you enjoy Project union.

To continue reading, subscribe now.

Subscribe

Where

Sign up for FREE to access two premium items per month.

Register now

Source link

Definition and objective of development economics ▷ Legit.ng

By Development economics No Comments

Many students ask, “Why should you study development economics?” This discipline may seem boring at first, but make no mistake about it. Its role in the development of young and emerging countries cannot be ignored. It is also necessary to understand the importance of development economics for our region.

Image: pexels.com
Source: UGC

Let’s take a closer look at the definition of development economics and understand its vital purpose of transforming an impoverished and problematic nation into a prosperous and prosperous one. Wouldn’t it be great if Nigeria became not only the most populous state in Africa, but also the place with the best living conditions for all citizens?

What is development economics?

There are many useful branches of knowledge, and development economics is one of them. It is a part of social science concerned with the production and consumption of products. It is studied within the framework of economics.

It is essential to look at the definition of development economics from different angles. It is first of all the study of the uses of human resources. Second, it is understanding how decisions are made in terms of finances and wealth. Third, it helps developing countries like Nigeria understand what needs to be changed in the nation’s social, business, financial and fiscal spheres to improve living standards within the state.

Read also

What do you know about the main types of inflation?

READ ALSO: Why are we studying economics?

What does development economics study?

Why should you study development economics, its definition and purpose
Image: pexels.com
Source: UGC

To better understand the definition of development economics, we should take a closer look at different things that this science studies. It goes beyond money and finances as economists (consultants, professors, advisers) have to deal with:

  • The context of the country (the history of its social and political life)
  • Educational system
  • Healthcare sector
  • Work conditions
  • Market situations
  • National / international policy and industrial growth
  • The country’s economic structure
  • Macroeconomic and microeconomic aspects

Only the complex study of all these spheres of the life of the country can help to implement the best methods and theories of the world and to propose a unique strategy to transform the developing market into a sound and robust management of the whole. the nation.

How important is development economics?

It is also necessary to understand the purpose and meaning of this branch of social science. Why study development economics? How can it help the most miserable states on our planet? These are the questions that come to the minds of students and young people in Nigeria and other places in Africa.

Read also

What are the people management skills? Find out here and become a good specialist

It is fascinating to see how the complex analysis of past and present practices around the world helps to better understand the origins of poverty in one country and the significant successes in the economy of another country. Development economics primarily analyzes all aspects of the life of a state’s inhabitants to craft effective plans that should address issues of inequality, poverty, economic failure and stagnation.

Development economics - money and ideas
Image: pixabay.com
Source: UGC

The importance of development economics can be best illustrated by the 5 most important problems that this science can solve in all low-income regions and critical tax problems:

1. Creation of new jobs

One of the main goals of development economics is to help businesses large and small with the information and resources to grow, expand and create new jobs. This allows companies to grow, increase the list of their operations and earn more money. Ordinary people can find a job, earn a salary and support themselves financially.

Read also

What do you need to know about the circular flow of income?

2. Diversification of industries

Developing economies understand the importance of industry diversification. A region cannot rely on a single sector. The purpose of this practice is to explain to the government how important it is to develop industries outside of those already important in the region and to ensure that more jobs are created in areas such as health, tourism, business, innovative technologies, etc.

3. Protection of local economies

The growth and expansion of the region’s largest businesses helps protect the local economy from possible periods of downturn and stagnation.

4. Less taxes

There is no need to raise taxes when a country with a developing economy pays more attention to its local businesses and businesses and provides them with natural conditions for growth and development. The greater the presence of the company in the region, the greater the tax revenues. It results in the development of infrastructure and social projects.

Read also

Reasons for underdevelopment in Nigeria and possible solutions

5. Better quality of life

This is the primary objective of development economics. When a country creates more jobs, improves its infrastructure, health care industry and economy, provides basic freedoms to people, the country begins to earn more money, to feel optimistic about the future and his quality of life is improving. They spend more money in their area and support the local economy.

Development economics
Image: pixabay.com
Source: UGC

In short, the purpose of development economics is to do everything to improve the lives of people in a country. You now know what development economics is and how important it is to low-income countries with reduced standards of living.

READ ALSO: Best University to Study Economics in Nigeria

Source: Legit.ng

Source link

What is development economics? – World Atlas

By Development economics No Comments
United Nations Development Program workers assist well installation efforts in The Gambia.

Development economics is a branch of economics that deals with improving the economies of developing countries. The discipline aims to establish strategies that apply to different developing countries based on their unique social, political and economic factors. Development economics also explores the unique challenges facing developing countries, thus helping to analyze the opportunities available in these countries and how they can be applied. Development economics uses economic theory, econometric methods, political science and demography in its approaches.

History of development economics

Development economics as a discipline first appeared in the 1950s. However, earlier theories pointing to this discipline began as early as the 17th century with the rise of the nation-state. These approaches included commercialism and economic nationalism. The 1950s saw development thanks to the efforts of theorists such as WW Rostow who suggested that economic growth went through five linear processes. These processes include mainstream society, preconditions, takeoff, maturity, and mass consumption. Currently, the discipline receives a lot of attention and plays an important role in research for development.

Areas of relevance

Development economics is often applied in efforts to eradicate poverty, achieve the Millennium Development Goals (MDGs) set by the United Nations (UN), democratic governance, sustainable environmental and energy policies, as well as crisis prevention and recovery.

Practical applications

Development economics is applied to the formulation of strategies aimed at improving the economic situation of developing countries. In doing so, they help to bridge the ever-growing gaps between the poor and the rich in many countries. This economic development is achieved through the application of economic and political theories in the analysis of present and past economic developments as well as the possible opportunities that can be exploited and the methods to use these opportunities for the benefit of the country.

Benefits of using development economics

Development economics offers a more comprehensive view and understanding of the economic, political and social impacts, as well as influences on the economic state of a country. In addition, it examines areas that can be improved, such as infrastructure, education, health and technology, which are essential for positive economic growth through the empowerment of people. In addition, economic development examines the macroeconomic and microeconomic factors related to the structure of the developing country and how the country can create both domestic and international growth.

Criticisms of development economics

Measures used to quantify economic development progress have been criticized for their inability to include smaller, but significantly important economic activities, such as housekeeping and housing construction, which are not listed in financial transactions. Therefore, this loophole is likely to distort a country’s economic position because economic progress is measured in financial terms. Fraud and the lack of data on financing also undermine the efficiency of calculating a country’s gross domestic product (GDP).

Development economics in practice

The United Nations Development Program (UNDP) has applied development economics to try to help developing countries improve their economic situation by helping them strategize and analyze growth trends. The UNDP program works through women’s empowerment and gender equality, poverty reduction, sustainable environmental management, disease eradication and treatment, as well as strengthening partnerships for cooperation between rich and developing countries to achieve the Millennium Development Goals.

Strengths of development economics

The most important and significant aspect of economic development is the realization that the economic development strategies to be applied are not found in predefined formulas, but differ according to the political, economic and social factors affecting a given economy. This awareness is important in developing tailored growth strategies that will best serve the economy in question.

Source link

Malawian national wins UK award in development economics | Malawi Nyassa Times

By Development economics No Comments

A Malawian, now a student at the University of Oxford, Robert Mwanamanga leads the way with passion in representing Malawi well.

Malawi wins UK award

Mwanamanga, broke a record by winning one of the UK’s most prestigious awards in economics / development studies, the “2016 DSA / ICEA Best Dissertation Prize”.

In addition, Mwanamanga became the first African to be an honorary member of ICEA, a distinguished group of international economists.

The DSA / ICEA Prize is an initiative of the world’s leading organization for development studies, the Development Studies Association (ICEA), which also publishes the leading journal of development studies.

The DSA / ICEA Awards are funded by the International Consulting Economists Association (ICEA), a leading London-based group of economists comprising the world’s elite economists and now chaired by the famous British economist, Sir. David Walker.

The initiative identifies a better thesis in international development. Around this time, Mwanamanga became the first non-Oxbridge student to win the award since his paper was submitted to DSA by the University of Bradford in the UK, where he received his master’s degree with distinction.

While in Bradford, Mwanamanga also won other academic awards including the Bradford’s BCID Award, among others.

Due to this rare achievement in development economics, Mwanamanga also broke the record of being the first African economist to be an honorary member of the aforementioned group of economists, the ICEA, chaired by Sir David Walker.

The DSA winner walked away with £ 1,000 and was invited to present his findings at the DSA’s annual conference in the UK this year.

Speaking of why the judges stuck with Robert’s article, the DSA website states:

Robert’s thesis entitled “Does Foreign Aid Promote Growth?” Evidence from Malawi ”, reviews the extensive literature on the relationship between aid and economic growth and tests different statistical (econometric) models against data from Malawi.

The judges noted: The award-winning article perhaps addresses the central question of development assistance: to what extent does aid contribute to economic growth. It begins with an extremely competent literature review, covering aid growth theories from the 1940s presented in a neat structure of 1st, 2nd and 3rd generation theories.

This parallels a review of empirical studies over the same period. The main criticisms of the aid are also reviewed.

After reviewing the broader economic context of Malawi, the paper presents a set of statistical analyzes testing different aid-growth economic models reflecting different theories on the mechanisms that link aid and economic growth.

The study concludes that increasing aid to Malawi shows diminishing or even negative returns, but recognizes that this at least partly reflects the fact that Malawi is one of the most aid dependent countries. world.

Asked what the award means to him, Mwanamanga said, “I am grateful to God and delighted to have won this award. Being a proud son of Africa and Malawi in particular, I feel very honored because if Africa is to develop, we Africans must actively participate and contribute to the development discourse. It is high time that Africans took an active role in telling their own development story. I am very grateful to my family and friends. Most importantly, I am indebted to the BCID at the University of Bradford, in particular to Professor Jalilian Hossein, my supervisor, to Dr Rashmi Arora, my tutor, and to the Director of BCID, Professor David Potts, for their tremendous support.

According to the DSA website, the DSA / ICEA award includes all universities in the UK and Ireland.

All member universities nominate their best thesis articles to be considered for the award. A winner is chosen by judges made up of renowned academics and practicing economists and development experts. Criteria on a number of criteria including, presentation, analysis tools used, etc.

Currently, Mwanamanga is studying public policy at the world’s leading university, the University of Oxford. He is a Start-Up-Nation (SUN) researcher created by the Israel Initiative to Advance Innovations and Technologies.

Prior to joining Oxford, Robert worked at the Department of Health as Head of the Aid Coordination Unit.

In 2013, Mwanamanga also featured prominently at the African continent level when he took the lead in the World Bank and SINA Health training program for performance-based financing for African countries held in Mombasa.

Follow and subscribe to Nyasa TV:

Sharing is loving!

Source link

The University of Rochester creates “Rajesh Wadhawan Chair” for development economics at Simon Business School

By Development economics No Comments
• Caption – Mr. Kapil Wadhawan, Chairman of the WGC Group, addresses professors at Simon Business School, University of Rochester at the plaque ceremony.

Rochester, NY-The Simon Business School at the University of Rochester on Tuesday announced the establishment of the Rajesh Wadhawan Chair in Development Economics with a $ 1.5 million endowment from Wadhawan Global Capital Pvt. Ltd, known as WGC.

The chair commemorates the group’s founder, Rajesh Wadhawan, and his vision of empowering disadvantaged sections of society through fair and respectable access to credit.

The chair will focus on the elaboration of research and studies in development economics which will be supported by exchange programs and internships in WGC group companies in India. Joint forums to further propagate the field and allied areas are also on the anvil.

Mr. Kapil Wadhawan, Chairman of the WGC Group, addresses professors at Simon Business School, University of Rochester, during the plaque ceremony.

In his remarks, Simon Business School Dean Andrew Ainslie said, “This gift shows the commitment and generosity of the Wadhawan family to giving back to society in a meaningful and knowledge-based way. The Rajesh Wadhawan Chair will strengthen the academic and research orientation of Simon Business School on development economics. It is in line with our commitment to create a curriculum based on analysis and economics. We look forward to an engaging partnership with WGC to make this effort a success. “

The Wadhawan family, represented by Ms. Aruna Wadhawan, wife of the late Rajesh Wadhawan and son Kapil Wadhawan, wife Vanita and daughter Tiana and son Kartik, were present at the plaque ceremony on campus.

Speaking on behalf of the family, WGC Chairman Kapil Wadhawan said, “The Rajesh Wadhawan Chair is a tribute to our group founder’s legacy of doing business with purpose. The subject of development economics was close to his heart. He envisioned giving the poor the means to build their own houses with credit.

The endowment will support a full-time faculty member Simon Business School for research and a program that improves understanding of economic issues in developing countries.

WGC’s collaboration with Simon Business School aims to create greater impact globally. With an asset base of $ 18.6 billion, 10 million customers and a presence on 770 touchpoints, the group has in-depth knowledge of ambitious consumers. When viewed in the broader context of development economics, it has the capacity to bring about transformative socio-economic change in a cost-effective manner.

Simon Business School is the business school at the University of Rochester and one of the best business institutions in the world. It offers an education that attracts students who value analytical bias. The school strongly believes in the value of economics and statistics in analyzing all business issues, and this is reflected in its ranking among the top five economics and finance schools.

Wadhawan Global Capital Pvt. Ltd. (WGC) is a leading financial services group in India. The group manages $ 18.7 billion in assets through its credit, asset management and insurance businesses. The WGC Group has partnered with leading financial institutions such as International Finance Corporation, Washington and Prudential Financial Inc., USA, to transform the lives of millions of customers across India.

(WGC) is the parent company of some of the biggest brands in India such as DHFL, Aadhar Housing Finance Company, Avanse Financial Services Ltd, DHFL Pramerica Life Insurance Company Ltd and DHFL Pramerica Asset Managers Private Ltd to name a few- one.

Source link

The University of Rochester creates “Rajesh Wadhawan Chair” for development economics at Simon Business School

By Development economics No Comments

ROCHESTER, NY – (COMMERCIAL THREAD) – The Simon Business School at the University of Rochester announced on Tuesday the creation of the Rajesh Wadhawan Chair
for development economics with an endowment of $ 1.5 million from WGC. The chair commemorates the group’s founder, Rajesh Wadhawan, and his vision of empowering disadvantaged sections of society through fair and respectable access to credit.

The chair will focus on the elaboration of research and studies in development economics which will be supported by exchange programs and internships in WGC group companies in India. Joint forums to further propagate the field and allied areas are also on the anvil.

In his words, Dean of Simon Business School, Andrew Ainslie said, “This gift shows the commitment and generosity of the Wadhawan family to giving back to society in a meaningful and knowledge-based way. The Rajesh Wadhawan Chair will strengthen the academic and research orientation of Simon Business School on development economics. It is in line with our commitment to create a curriculum based on analysis and economics. We look forward to an engaging partnership with WGC to make this effort a success. ”

The Wadhawan family, represented by Ms. Aruna Wadhawan, wife of the late Rajesh Wadhawan and son Kapil Wadhawan, wife Vanita and daughter Tiana and son Kartik, were present at the plaque ceremony on campus. Speaking on behalf of the family, WGC President Kapil Wadhawan said, “The Rajesh Wadhawan Chair is a tribute to our group founder’s legacy of doing business with purpose. The subject of development economics was close to his heart. He envisioned giving the poor the means to build their own houses with credit.

The endowment will support a full-time faculty member Simon Business School for research and a program that improves understanding of economic issues in developing countries.

WGC’s collaboration with Simon Business School aims to create greater impact globally. With an asset base of $ 18.6 billion, 10 million customers and a presence on 770 touchpoints, the group has in-depth knowledge of ambitious consumers. When viewed in the broader context of development economics, it has the capacity to bring about transformative socio-economic change in a cost-effective manner.

About Simon Business School and the University of Rochester

Simon Business School is the University of Rochester Business School and one of the best business institutions in the world. It offers an education that attracts students who value analytical bias. The school strongly believes in the value of economics and statistics in the analysis of all business issues, and this is reflected in its ranking among the top five schools of economics and finance.

The University of Rochester is one of the premier research universities in the United States. The private, non-profit university was founded in June 1850. It offers undergraduate, graduate, doctoral, and professional degree programs. The head office of the University of Rochester Medical Center Rochester is located at 601 Elmwood Avenue, Rochester, New York, USA 14642.

About WGC

Wadhawan Global Capital Pvt. Ltd. (WGC) is a leading financial services group in India. The group manages $ 18.7 billion in assets through its credit, asset management and insurance businesses. The WGC Group has partnered with leading financial institutions such as International Finance Corporation, Washington and Prudential Financial Inc., USA, to transform the lives of millions of customers across India.

(WGC) is the parent company of some of the biggest brands in India such as DHFL, Aadhar Housing Finance Company, Avanse Financial Services Ltd, DHFL Pramerica Life Insurance Company Ltd and DHFL Pramerica Asset Managers Private Ltd to name a few- one.

Source link

Fabrizio Zilibotti is the Tuntex Professor of International Economics and Development

By Development economics No Comments

Fabrizio Zilibotti, newly appointed Tuntex Professor of International and Development Economics, focuses his research on China’s economic growth and development, political economy, macroeconomics and economic development. His appointment will take effect on July 1.

Fabrice Zilibotti

A citizen of Italy, Zilibotti obtained a Laurea in political science from the Università di Bologna, as well as a master’s and a doctorate. in Economics at the London School of Economics. His academic career includes professorships at the Universitat Pompeu Fabra (Barcelona), University College London and IIES-Stockholm University, among other institutions. He has also held visiting positions at Bocconi University (Milan) and at the Universities of Oslo, Bologna, Southampton and CERGE-EI Prague. His most recent appointment was as Chair of Macroeconomics and Political Economy at the University of Zurich.

Zilibotti has published articles in numerous international journals, including American Economic Review, Econometrica, Journal of Political Economy, Quarterly Journal of Economics, and Review of Economic Studies, among other publications. He has held several editorial positions, including Co-Editor-in-Chief of Econometrica, Editor-in-Chief of the Journal of the European Economic Association, Director and Editor-in-Chief of the Review of Economic Studies and Associate Editor of the Journal of Economic Growth. .

The renowned economist is a member of the Econometric Society, the European Economic Association, the Center for Economic and Political Research and CESifo. He is co-director of the NBER Economic Fluctuations Group on Income Distribution and Macroeconomics. He was president of the European Economic Association in 2016.

Zilibotti is the winner of the Yrjö Jahnsson Prize (best economist in Europe under 45) and the Sun Yefang Prize of the Chinese Academy of Social Sciences for his article “Growing Like China”. He received the Ciliegia d’Oro (Golden Cherry) prize awarded to “eminent personalities in the cultural, industrial, sporting or humanitarian fields” of the region of Emilia-Romagna in northern Italy.

Source link

Definition of development economics

By Development economics No Comments

What is development economics?

Development economics is a branch of economics that focuses on improving fiscal, economic and social conditions in developing countries. Development economics takes into account factors such as health, education, working conditions, national and international policies and market conditions with an emphasis on improving conditions in the most affluent countries. poor of the world.

The field also examines macroeconomic and microeconomic factors related to the structure of developing economies and to national and international economic growth.

Key points to remember

  • Development economics is a branch of economics aimed at improving fiscal, economic and social conditions in developing countries.
  • The areas on which development economics focuses include health, education, working conditions and market conditions.
  • Development economics seeks to understand and shape macro and microeconomic policies in order to lift poor countries out of poverty.
  • The application of development economics is complex and varied because the cultural, social and economic frameworks of each nation are different.
  • Four common theories of development economics include mercantilism, nationalism, the linear stages of the growth model, and the theory of structural change.

Understanding development economics

Development economics studies the transformation of emerging nations into more prosperous nations. Strategies for transforming a developing economy tend to be unique as countries’ social and political backgrounds can vary widely. Not only that, but each nation’s cultural and economic frameworks are also different, such as women’s rights and child labor laws.

Economics students and professional economists create theories and methods that guide practitioners in determining practices and policies that can be used and implemented at the national and international political level.

Some aspects of development economics involve determining the extent to which rapid population growth helps or hinders development, the structural transformation of economies, and the role of education and health care in development.

They also include international trade, globalization, sustainable development, the effects of epidemics, such as HIV, and the impact of disasters on economic and human development.

Prominent development economists include Jeffrey Sachs, Hernando de Soto Polar, and Nobel laureates Simon Kuznets, Amartya Sen and Joseph Stiglitz.

Types of development economics

Mercantilism

Commercialism is considered to be one of the earliest forms of development economics that created practices to promote the success of a nation. It was a dominant economic theory practiced in Europe from the 16th to the 18th century. The theory favored increasing state power by reducing exposure to rival national powers.

Like political absolutism and absolute monarchies, mercantilism promoted government regulation by prohibiting colonies from dealing with other nations.

Commercialism has monopolized markets with basic ports and banned exports of gold and silver. He believed that the higher the supply of gold and silver, the richer it would be. In general, it sought a trade surplus (exports greater than imports), did not allow the use of foreign vessels for trade, and optimized the use of domestic resources.

Economic nationalism

Economic nationalism reflects policies that focus on national control over capital formation, the economy and labor, using tariffs or other barriers. It restricts the movement of capital, goods and labor.

Economic nationalists generally disagree with the benefits of globalization and unlimited free trade. They focus on an isolationist policy so that industries in one country can develop without the threat of competition from companies established in other countries.

The economy of the early United States is a prime example of economic nationalism. As a new nation, it sought to develop without being too dependent on outside influences. It adopted measures, such as high tariffs, so that its own industries could develop unhindered.

Linear Stages of Growth Model

The linear stages of growth model was used to revitalize the European economy after World War II.

This model asserts that economic growth can only come from industrialization. The model also recognizes that local institutions and social attitudes can restrict growth if these factors influence people’s savings rates and investments.

The linear stages of growth model depicts a well-designed capital addition associated with public intervention. This injection of capital and the restrictions of the public sector lead to economic development and industrialization.

Theory of structural change

Structural Change Theory focuses on changing the overall economic structure of a nation, which aims to shift society from a predominantly agrarian society to a predominantly industrial society.

For example, Russia before the Communist Revolution was an agrarian society. When the Communists overthrew the royal family and took power, they quickly industrialized the nation, allowing it to become a superpower.

Source link

MIT Announces MITx MicroMasters Program in Development Economics, With Path to Full Masters | MIT News

By Development economics No Comments

A new master’s degree in data, economics and development policy (DEDP), announced today by MIT and offered by its renowned economics department, represents a new path to earning a master’s degree from MIT. The program is the first to be available only to online learners who have achieved another new title, the MITx MicroMasters in DEDP, also announced today by the Institute.

The MicroMasters program is open to anyone around the world. Its courses are offered online through edX by professors based in the Economics Department at MIT, widely recognized as the world’s center for development economics research, and the Abdul Latif Jameel Poverty Action Lab (J-PAL), a world leader. policy-relevant research. . Students who do exceptionally well in DEDP’s MicroMasters program may be eligible to continue their education on the MIT campus, eventually earning a master’s degree, the first offered by MIT’s Department of Economics. The MicroMasters program is now open for registration for courses starting in February 2017; the DEDP master will be launched in 2019.

Performance in DEDP’s Online MicroMasters will be a key selection criteria for students who complete this program and then apply to the MIT Masters program. Once accepted, these students’ online work will be converted into credits and they will come to MIT for a single semester to earn an accelerated master’s degree. During the summer following their semester in Cambridge, Massachusetts, they will also complete a comprehensive experience – consisting of an internship and a corresponding project report – to apply the skills they have learned. Through this unique ‘reverse’ admission process, the Joint Master’s program opens new doors for those who wish to study at MIT.

“Policymakers, NGO activists and businessmen in developing countries are increasingly aware of the importance of good data and rigorous evidence in designing and choosing policies and projects – and putting them into practice. implemented effectively, ”says Esther Duflo, Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics in the Department of Economics. “To become good producers and consumers of evidence, they need people with solid quantitative and analytical backgrounds. Few programs today offer such training, and the options available are expensive and time consuming. The mixed master’s degree in DEDP, anchored at MIT, the home of J-PAL, is an ideal solution to this challenge.

A 15-year program in preparation

“The world of development policy has become increasingly evidence-based over the past 10 to 15 years,” says economics professor Ben Olken, who co-created the MicroMasters in DEDP program with Duflo and Ford professor of economics Abhijit Banerjee. “Development practitioners need to understand not only development issues, but also how to rigorously analyze them using data. This program is designed to help fill this gap.

This decade-and-a-half-decade transition to practical and empirical research and rigorous impact assessment methodologies aligns with the international development community’s emphasis on evidence-based policies and development-driven development. on the results. The constantly changing dynamics within developing countries, the institutional challenges inherent in poverty and the rising costs of economic interventions – which can reach billions of dollars – have made development policy increasingly complex.

To navigate these new realities, governments and organizations responsible for implementing poverty reduction programs need to strengthen their capacities and capacities. The MicroMasters program and the master’s degree in DEDP make it possible to respond to this demand and to strengthen local capacities to produce and understand empirical research.

“I have worked in government and international agencies, and I know how important an in-depth training in economics and data analysis is for good policy making,” says Rachel Glennerster, Executive Director of J-PAL. “Our goal with this MicroMasters is to give people – wherever they are in the world – the skills they need to bring the best analytical tools and empirical evidence to help solve the world’s most pressing problems.”

A long-time advocate of reducing poverty through evidence-based policies, J-PAL is well positioned to collaborate on new programs. The organization has developed personalized training sessions for a wide range of groups, including the International Labor Organization, UNICEF India and the Government of Gabon.

A major step for MicroMasters

MIT launched the first MITx MicroMasters certificate, MicroMasters in supply chain management, in October 2015. Since then, more than a dozen universities have adopted the MicroMasters model, which allows online learners to take one semester of master-level courses on the edX platform , then complete an accelerated master’s degree on campus.

DEDP’s MicroMasters takes another step towards innovation by offering a brand new pricing structure based solely on revenue. Students are charged a personalized course fee determined by their ability to pay, no matter where in the world they live. There are no formal prerequisites for enrolling in MicroMasters, which removes a major barrier to accessing education, and the number of courses a learner takes at one time is also flexible.

The MicroMasters in DEDP equips students with the practical skills and theoretical knowledge necessary to tackle some of the most pressing challenges facing developing countries and the world’s poor. Through five online courses and five proctored in-person exams at facilities around the world, DEDP MicroMasters prepare learners to bring a data-driven perspective to development policy.

Students will gain a theoretical foundation in microeconomics, probability, and statistics while gaining hands-on experience through exposure to real-life scenarios and step-by-step training on how to conduct randomized controlled evaluations, a method used by J-PAL affiliates to measure the impact of a policy or program. Learners will also develop the ability to perform economic analyzes of programs, engage in hands-on data analysis, and acquire the key skills necessary to conduct random field evaluations.

“Students who graduate from MicroMasters and Masters in DEDP will be ready to be leaders in their field and change the world,” says Duflo. “They will acquire the tools to be creative and analytical thinkers who will reinvent the politics of the fight against poverty. And they will acquire the courage and skills to put all their ideas to the test, and fail, and try again until they succeed.

“My ideal world is one where development practitioners approach everything they do to solve a problem with the best tools, the sharpest ideas, and the most sophisticated learning strategies at their disposal,” Banerjee explains. “Poverty is a problem that can be solved, as long as we have the patience to keep trying and the willingness and clarity to keep learning from our experience; I hope this program will serve as a midwife in this process.

Source link