Poverty, Microfinance and Development (DEVT50002)

Development studies as an academic discipline has its origins in President Harry Truman's concept of a 'fair deal' for the entire world. In his inaugural address on January 20, 1949, he stated that Third World poverty, "is a handicap and a threat both to them and to more prosperous areas. For the first time in history humanity possesses the knowledge and the skill to relieve the suffering of these people.... I believe that we should make available to peace-loving peoples the benefits of our store of technical knowledge in order to help them realize their aspirations for a better life..... What we envisage is a program of development based on the concepts of democratic fair dealing"...

This subject aims to provide students with a solid grounding in one of the fundamental concerns of development and will explore the concepts and theories regarding cultural, political, economic and social aspects of poverty to critically engage in current debates on poverty, microfinance and development issues. The focus will be on developing countries. The subject will also extensively engage students into various theoretical debates, teaching of practical skills and techniques regarding Micro Finance and Small Business Entrepreneurship, which are widely promoted and used by the institutional financial institutions (such as the IMF and World Bank) and donor countries to alleviate poverty in less developed countries today.