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Theories of Development Economics
- What are the main differences between the ideas of Adam Smith, David Ricardo, and Karl Marx in relation to the Industrial Revolution?
- Identify and compare/contrast the major historical events and economic thinkers that influenced economic development theories in the twentieth century?
- Briefly describe the main characteristics of Walt W. Rostow’s economic development five-stage model? How successful has this model been?
- How did the Cold War and the end of World War II influence modernization theory?
- Describe the consequence of the advent of neo-liberalism on North-South relations.
- Why is Ronald Coase considered an influential figure for the new institutional economics (NIE)?
- Why have simplistic notions of development economics not produced a convergence between developed and developing countries?
- Define and describe Elinor Ostrom’s theory that people can create self-governing institutions.
- How did Daron Acemoglu and James Robinson build on Dani Rodrik’s historically-generated political institutions?
- Define and describe the theory of path dependence.