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ECON 431

Economic Development

Economics College of Family, Home, and Social Sciences

Course Description

Microeconomic analysis of the causes of income differences across countries.

When Taught

Fall and Winter

Grade Rule

Grade Rule 8: A, B, C, D, E, I (Standard grade rule)










Econ 431 students will be able to

Learning Outcome

Discuss the labor and consumption patterns among the world’s poor.Demonstrate an understanding of how modifying the neoclassical assumptions learned in Econ 380 can affect the welfare implications of markets. In particular, how the welfare implications are affected byExternalities and Public GoodsFixed Costs or Increasing ReturnsPoorly Enforced Property Rights.Discuss the functioning of the credit and capital market:How it relates to alleviating poverty and stimulating economic growth.Why it may be prone to information problems and the implications of those problems.Explain the potential role of government in economic development, especially as it relates to:Public Goods and ExternalitiesEnforcing ContractsCorruptionExplain the importance of labor, health, and education to the lives of those in developing countries and how these fields relate to improving outcomes among the poor.