Credit

3.00   (L-T-P:   3-0-0)

Department / Center / School / Unit

Economics

Course Objectives

This course provides a political economy perspective on economic growth and development, drawing both from the Indian and international experiences. It discusses development histories, contemporary economic issues, and also future economic challenges. The topics covered include industrialization, economic planning, international trade, financial crises, poverty, and labour migration.

Course Contents

The course will be a survey on the theories and issues related to the political economy of development. It discusses the emergence of industrial capitalism in Europe and North America, as well as its spread to third world countries since the mid-twentieth century. The course will deal with contemporary issues such as the growth of international trade and finance, the emergence of China as a global economic power, and the crisis in global capitalism that deepened since 2008. Issues related to human development, labour rights, migration and environmental sustainability will also be covered.

Suggested References

Amsden, Alice H., The Rise of "The Rest": Challenges to the West from Late-Industrialising Economies, Oxford University Press, New York, 2001.
Chakravarty, Sukhamoy, Development Planning: The Indian Experience, Oxford University Press, 1987.
Chang, Ha Joon, Kicking Away the Ladder: Development Strategy in Historical Perspective, Anthem Press, London, 2002.
Dreze, Jean and Sen, Amartya, India: Development and Participation, Oxford University Press, New Delhi, 2002.
Hobsbawm, Eric. J., Industry and Empire: An Economic History of Britain since 1750, Weidenfeld and Nicolson, London, 1968.
Hobsbawm, Eric. J., The Age of Empire 1875-1914, Viking Penguin India, 1987.
Kindleberger, Charles P., and Robert Z. Aliber, Manias, Panics, and Crashes: A History of Financial Crises, John Wiley and Sons, New Jersey, 2005.
Kohli, Atul, State-Directed Development: Political Power and Industrialization in the Global Periphery, Cambridge University Press, Cambridge, 2004.
Naughton, Barry, The Chinese Economy: Transitions and Growth, The MIT Press, Cambridge, Massachusetts, 2007.
Piketty, Thomas, Capital in the Twenty-First Century, Harvard University Press, Cambridge, London,2014.
Patnaik, Prabhat, The Value of Money, Columbia University Press, 2009.
Riskin, Car, China's Political Economy: The Quest for Development since 1949, Oxford University Press, New York, 1987.
Sen, Amartya, Development as Freedom, Oxford University Press, New Delhi, 2000.
Stiglitz, Joseph, Globalization and Its Discontents, Penguin Books, 2002.