We review the main causes behind the success of some countries to reach high-income status and the failure of most to do so. We cover most of the issues of interest to low- and middle-income countries: institutions, liquidity constraints and financial markets, international financial issues and FDI, information externalities and coordination problems, human capital issues.
Students are expected to have had intermediate Micro and Macroeconomics, and a working knowledge of Econometrics. This semester it is offered only in Spanish
The course introduces students to central concepts in the study of developing countries and poverty. Students will:
Gain an overview of the field of development economics and major topics in policy and research within the field.
Practice the understanding and use of the most common statistical methods used in the empirical study of development economics, with a focus on causal inference.
Learn about ways to measure and define poverty, and the main explanations highlighted in the field of economics for differences in growth and income levels between rich and poor countries. The course will consist of classroom lectures and exercise sessions, and is taught in collaboration with the United Nations University World Institute for Development Economics Research (UNU-WIDER) in Helsinki, whose researchers give four guest lectures in the course.
NOTE: The course will be taught in hybrid format meaning that lectures take place in a classroom where a small group of the students attend lectures live (subject to Aalto's covid regulations). Classes are also live streamed which allows the participants through Remote student exchange, as well as some of the Aalto program students, to take part remotely.
Students are expected to have taken intermediate BA level courses in microeconomics and econometrics. Students with the equivalent knowledge can also take the course after consulting with the teacher in charge. Some extra material on applied methods in econometrics will be provided for students who wish to refresh their skills in this area.
- to acquire knowledge and competencies on the management of sustainable development in dynamic environments;
- to develop a new vision on sustainable development concerning the set of interrelated issues in a world scale;
- to solve the related issues concerning long-term preservation of the planet.
The course aims to allow students to master the key topics in international economics; providing them the basis for further economics courses; making them familiar with the instruments needed to tackle the chief international economics issues, often subject of everyday worries. All that is linked to the specificity of European values and to the urgency of promoting a sustainable transition.
Essential pre-requisites to the course are: (i) a good knowledge of the English language, the teaching language of this course, respectively B1+ or B2 according to the study program chosen, and (ii) having taken a base course in macroeconomics (with a passing grade).
From 0 (minimum) to 30 with honors (maximum). Minimum passing grade is 18 out of 30.
Lessons, courseworks, tests and exams are available online. Grade components are: Online individual test, taking online quizzes in class, (optional) team work and (optional) flipped class. The individual test consists in answering 3 questions during an online oral exam. On average one (online) quiz with multiple answers is given in each lesson: a rate of participation and an answer score above the respective median earn a bonus of +1 point for each one of the two factors. After the first 3-4 course weeks, the teacher subdivides the class in working groups of max 5 students. The team work consists in realizing a short presentation (20 minutes circa) and a paper (minimum 15 pages). Team work topics will be agreed during the course; the presentations will be delivered in front of the class at the Presentation Day (in the last week of the course). Final papers must be handed in one week before the first written exam session, in early January. After the working groups are formed, the teacher offers each group to give a lesson of the course in flipped class modality and the groups which accept receive a bonus of +1. The final grade is given by the weighted average between the grade of the team work (with weight 0.25) and the individual oral exam (with weight 0.75) to which the possible bonuses are added. For the students who do not participate in the team work, the individual exam determines 100% of the final grade. Both the weighting with the vote of the team work and the addition of the bonuses can take place only if the student gets at least 18/30 in his/her individual final exam.