Microeconomics of Development

In the last 35 to 40 years, the study of economic development  has given increasing attention to the behaviour of individuals – their opportunities, constraints, and choices – to understand the causes and nature of poverty, and for formulating strategies for improving their economic well-being. This trend includes the increased application of microeconomic theories to understand phenomena related to underdevelopment, the collection and analysis of data at the individual level (as opposed to the regional or national level) and, most recently, the use of lab and field experiments to better understand individual behaviour.

The module is intended to introduce the student with these trends, to show how the related microeconomic tools have contributed to a better understanding of the process of economic development.  Some of these methods are now widely used by international development agencies – such the World Bank and DfID – as well as academic researchers to critically assess development strategies and evaluate programmes aimed at improving the economic well-being of the poor in developing countries.

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