[Free] Online Course On Economics And Economy For Developing World
Economics for the Developing countries – Free Course
What you’ll learn
- Student will learn economics that will help them to know the ground realities of the issues of developing world and solution for the alleviation of these issue.
- They will learn the limitations of the current approach of conventional economics towards resolving the issues of developing countries.
- The will learn the the real structure of economy, which will help them how to model real economy for theoretical purpose
Requirements
- There is no formal prerequisite. All those students who have interest in learning economics, which should be helpful for understanding and resolving the issues of developing worlds
Description
Find below brief details of the course.What will students learn in this course?
This course focusses on how to bring efficiency in resource allocation inside and outside the market. We know that mainstream economics considers, that the motive of self-interest can bring efficiency in a market. However, the same selfish motives bring inefficiency in the case of adverse selection and moral hazard and there is no solution with the market regarding the issues of exclusion due to these two problems.
Likewise, the mainstream economics ignores the presence of economy outside the market, while the motives of other regarding preferences is playing a major role in the resource allocation beyond market. But, again the presence of asymmetric information makes such allocation inefficient. Due to which most of the resources land in the hands of non-deserving people.The policy focus of the main stream economics is on developing institutions (such as financial intermediaries) for minimizing inefficiency in the allocation of scarce resources inside the market, however, it completely ignores outside market economy and thus do not provide any policy prescription for brining efficiency in the resource allocation, taking place there. In this course, we will highlight the consequence of this approach for the developing countries and suggest policy measures for their development. We will explain that how the development of various institutions can decrease the impact of asymmetric information on resources allocation outside the market, and thus help us to solve the issues of hunger and poverty (two major targets in SDGs). The course will also explain the dynamics of such institutions.
Author(s): Muhammad Fahim Khan
