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This subject is aimed at understanding the process of economic development by first critically reviewing major theories/perspectives/paradigms of economic development and second by deeply engaging with the Indian development experience over the last six decades. This approach allows us to appreciate why India chose the development strategy and subsequent policies at the time of its founding, what were the ideological, historical, and institutional roots of such strategies, how they differed from other countries in Latin America and East Asia, and how and why India has adjusted its economic policies and ideological moorings to contemporary globalization. Development, despite its shared goal of social transformation by way of reforms in policies and institutions, suggests that there is no single path of attaining it. The development outcomes, as the Indian case illustrates, are products of history, institutions, and the ongoing evolution of the structures of the world economy.
Intended learning outcomes
On completion of this subject, students should:
- be able to critically assess wide-ranging theoretical perspectives on economic development
- be knowledgeable about how economic development is practiced in diverse national institutional contexts and thus the multiple paths to development and policy choices
- have a deep understanding and appreciation of India undergoing major economic and social transformation
- be able to apply the concepts and policy experiences to other developing countries; and
- be able to undertake critical independent research
On completion of this subject students should be able to:
- critically analyze theory and empirical details;
- express ideas and arguments effectively both in written and oral forms;
- demonstrate developed research skills.
Last updated: 18 December 2020