Economic Development

Course Code: 
Specialization Courses
A. International Economics and Finance

Type of course : Compulsory for the Specialization “International Economics and Finance”

Number of credits allocated: 6 ECTS Credits

Objective of the course (expected learning outcomes and competences to be acquired)

  • Understanding of the main economic problems of Developing Countries
  • Use of tools derived from economic theory for the analysis of these problems
  • Understanding of the evidence provided in quantitative and qualitative analyses of Developing Countries
  • Comparative assessment of alternative economic policies
  • Predicting the outcomes of specific economic policies
  • Development of analytical and synthetic skill through the writing of a long essay
  • Development of demonstration and debate skills through presentation of the main points of the long essay in the lectures


There are no formal prerequisites, but it is recommended that students have prior basic knowledge of microeconomics and macroeconomics.

Course contents

The following topics are covered:

1. Development and growth:  Characteristics of developing countries.  Indicators of development.
2. Growth theories and empirics: The Harrod-Domar model.  The Solow model.  The Lewis model and neoclassical two-sector models.  Poverty, inequality and growth.  The empirics of growth: Convergence or divergence? Marxist and neo-marxist dependence theories.
3. Human resources: Demographic expansion and transition theory.  Internal and international migration. Education and human capital policies.
4. Mobilization of domestic and international resources: Fiscal and financial policies.  Foreign direct investment, foreign aid and external borrowing.
5. Industrialization and trade:  Terms of trade.  Protectionism and import substitution policies.  Export promotion policies.
6. Globalization, development experiences around the world and the role of international organizations.

Recommended reading

  •   Οικονομική Μεγέθυνση , Θεωρία και Πολιτική, Αναθεωρημένη Έκδοση ,Εκδόσεις Κριτική.
  •   Perkins D.H., Radelet S., Lindauer D.L. and Block S.A. (2013), Economics of Development, 7th ed., Norton)
  •   Todaro M.P. και Smith S.C. (2014) Economic Development, 12th ed., Pearson)

Teaching methods: Lectures and essay presentations

Assessment methods: Final written exam (70%), essay (30%)

Language of instruction: Greek