DEPARTMENT OF ECONOMICS AND DEVELOPMENT STUDIES
SCHOOL OF SOCIAL SCIENCES
COLLEGE OF BUSINESS AND SOCIAL SCIENCES
COVENANT UNIVERSITY, OTA, OGUN STATE
ALPHA SEMESTER 2014/2015 SESSION
COURSE COMPACT
Course Title:
Introduction to Development Economics I
Course Code:
ECN214
Credit Units:
2
Enrolment id:
TBA
Lecture Period:
Tuesdays, 5-6pm
Lecture Venue:
H107, CST Building
Course Facilitators:
Dr. Ebenezer Bowale (Course Coordinator)
Office: TBA
and
Oluyomi Ola-David
Office: CDS Room F302A, Phone: 2262
Brief Overview of the Course
This course, Introduction to Development Economics I, introduces the students to basic
concepts in developing economics. Topics to be covered include: The meaning and scope
of Development Economics and the limited relevance of traditional Western economic
theories, economic and non-economic factors in development, the characteristics of
developed and LDCs. Planning the development process; rural development; Agricultural
development; Industrialisation; Inflation and price control, Global economic issues in LDCs.
Course Objectives
At the end of this course the student should be able to:

Explain the meaning and scope of Development Economics
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
Justify the need for Development Economics

Differentiate between traditional western theories of development and focus of
development economics

Meaning of development in terms of economic and non-economic factors

Discuss the characteristics of developing countries and developed countries

Elicit the role of the government in planning development

Identify the role of rural and agricultural development in development

Discuss how industrialization contributes to development

Discuss the challenge of inflation and price control

Analyse contemporary global economic issues facing LDCs
Course Outline
Week 1:
Introduction and Review of Course Compact.
Overview of the meaning and scope of Development Economics vs Western
theories
Week 2:
Meaning of development: economic and non-economic factors
Week 3:
Economic growth and economic development
Week 4:
Characteristics of developed and developing countries
Week 5:
Development Planning
Week 6:
Rural and agricultural development
Week 7:
Industrialization and development
Week 8:
Inflation and price control
Week 9-11:
Analyse contemporary global economic issues in LDCs
Week 12:
Revision
Modules
Module 1:
Overview of the Development Economics
1.1
Introduction
1.2
What is development economics?
1.3
Scope of Development Economics
1.4
Why Development Economics?
1.5
Traditional economics and political economy
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1.6
Foundations and scope of western theories
Module 2:
Characteristics of Development and Developing Countries
2.1
Introduction
2.2 Characteristics of developed countries
2.3 Characteristics of developing countries
2.4 Determinants of differentials in development
2.5 Classifications of countries by World Bank, UNDP, United Nations, OECD
Module 3:
Economic and Non-Economic Factors in Development
3.1 Introduction
3.2 Economic Growth: Meaning and Measures
3.3 Economic Development: Meaning and Measures
3.4 Differences between economic growth and economic development
3.5 The concept of inclusive growth
Module 4: Case studies of Economic Development
4.1 Introduction
4.2 Singapore
4.3 China,
4.4 Brazil
4.5 Mauritius
Module 5:
Development Planning
5.1 Introduction to development planning
5.2 Why development planning?
5.3 The role of the government in the development process
5.4 Characteristics of a good development plan
5.5 Overview of the Nigerian planning experience
Module 6: Rural and agricultural development
6.1 Introduction: why rural development? Income, employment
6.2 Role of agriculture in the economies of developing countries,
6.3 Agriculture and development
6.4 Consequences of rural underdevelopment
Module 7: Industrialization and development
7.1 What is industrialization?
7.2 Types of industry
7.3 Benefits of industrialization to development
7.4 Industrialization experiences around the world
7.5 Drivers of industrialization
Module 8:
Inflation and price control
8.1 What is inflation?
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8.2 Effects of inflation in developing countries
8.3 Measures of price control e.g ceilings and floors
8.4 Inflation across developing countries
Module 9:
Globalization and Developing Countries
9.1 What is globalization?
9.2 Types of globalization
9.3 Drivers of globalization
9.4 Positive and negative implications of globalization for developing countries
9.5 Maximizing gains from globalization: policy implications
Modules 10 &11:
Global economic issuesMillennium Development Goals, (MDGS): Goals, Targets and Criticisms
Energy security
Climate sustainability
Conflict and poverty
Global Governance stalemate
Module 12:
Revision
Methods of Lecture Delivery
Lectures will be conducted with the use of multimedia equipment. Course materials will be
uploaded regularly on the course page on the University’s e-learning platform. Students are
admonished to visit the e-learning website for updates on readings, lecture materials and
assignments (See learn.covenantuniversity.edu.ng).
Programme Structure and Assessment
Continuous assessment: 30 per cent
Assignments: 10 percent
Class Tests:
20 per cent
End of semester examinations: 70 percent
Class Ground Rules

With respect to punctuality, students are expected to be in class prior to the
commencement of the lecture. No student will be allowed into the lecture hall 5
minutes after the commencement of any lecture.
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
Moving in and out of the lecture hall during lectures will not be condoned. All visits
to the convenience should be done before the commencement of the lecture.

Students are expected to always attend lecture sessions with their lecture writing
materials, participate actively, behave responsibly and avoid distractions.

Students must make at least 75 per cent class attendance record to be eligible to sit
for the end-of-semester course examination. Also, only students registered for the
course will be permitted to sit for the end-of-semester course examination.

All assignments (group and/or individual) are to be submitted as and when due.
Late submissions will not be accepted.
Assignments/Student Activities
Students are admonished to attempt all tutorial questions provided on each course topic;
these will be given out to the class at the end of each module to facilitate brainstorming
sessions.
Alignment with Covenant University Vision and Goals
This course will equip students and help their understanding of the challenges faced by
developing countries and the rationale for the study of development economics. By
evaluating the reasons why there are differentials in productivity and development across
countries and regions of the world, the mind of the students will be sharpened to think
solutions to the myriad of economic and social problems of developing countries. In this
case, the course aligns with the vision of Covenant University of raising a new generation of
leaders who will be solution providers and change agents in the economy.
Contemporary Issues and Industry Relevance
The relevance of the study of Development Economics in a developing economy setting,
such as Nigeria, cannot be overemphasized. The concepts, principles, policies and historical
developments that would be reviewed during the semester lectures will enable the
students understand the essence of thinking solutions with respect to employment
generation strategies and new economic development perspectives. Current development
issues will be discussed in student assignments and presentations; with this, students will
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have a grasp of the context within which they live and develop an orientation towards
being change agents in the society. Contemporary issues such as climate change, structural
transformation and sustainable development will be discussed.
Recommended Reading

Todaro, M. P. and Smith, S. C. (2006) Economic Development, 11th Edition.

Obadan, M. I., Economics of Development Planning

The Economics of Development and Planning by M. L. Jhinghan.
Some Online Resources
World economic forum: www.wef.org
The Economist: www.economist.com
Globalization101: http://www.globalization101.org/
Global Issues: www.globalissues.org
United Nations Development Programme: www. undp.org
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