1. Life Impact | The University of Adelaide University of Papua New Guinea Economic Development Lecture 1: Introduction to Development Economics

2. University of Papua New Guinea Slide 1 Lecture 1: Introduction to Development Economics Michael Cornish Overview Case Study: Vietnam Definitions: “Economics” and “Development” Aim of the course Assessment Textbook Case Study: Vietnam (cont.) …and some final words

3. University of Papua New Guinea Slide 2 Lecture 1: Introduction to Development Economics Michael Cornish Case Study: Vietnam

4. University of Papua New Guinea Slide 3 Lecture 1: Introduction to Development Economics Michael Cornish Definitions “Economics” –The economic problem –Resource allocation –The ‘dismal science’

5. University of Papua New Guinea Slide 4 Lecture 1: Introduction to Development Economics Michael Cornish Definitions “Development” –GDP/capita –Utility approach –Participatory approach –Millennium Development Goals (MDGs)

6. University of Papua New Guinea Slide 5 Lecture 1: Introduction to Development Economics Michael Cornish Millennium Development Goals

7. University of Papua New Guinea Slide 6 Lecture 1: Introduction to Development Economics Michael Cornish Definitions “Development” (cont.) –Sen’s Capabilities Approach Capability to function – ‘functionings’ Income / capability gap »Personal differences »Environmental »Social climate »‘Relational perspectives’ »Economic distribution within families

8. University of Papua New Guinea Slide 7 Lecture 1: Introduction to Development Economics Michael Cornish Income v. Happiness

9. University of Papua New Guinea Slide 8 Lecture 1: Introduction to Development Economics Michael Cornish Definitions Economic development v. development economics –What’s the difference??

10. University of Papua New Guinea Slide 9 Lecture 1: Introduction to Development Economics Michael Cornish Aim of the course Critical thinking! To understand the strengths and weaknesses of different approaches to economic development, and which policies are appropriate to any given development situation …and all with at least a little enthusiasm!

11. University of Papua New Guinea Slide 10 Lecture 1: Introduction to Development Economics Michael Cornish Assessment Tutorials: 20% –Participation: 5% –Weekly hand-in (all 10 hand-ins): 15% Assignments: 30% –Assignment 1: 10% (due Thursday, 20 August) –Assignment 2: 20% (due Thursday, 8 October) Final Exam: 50% [Or 70% if Assignment 2 is not submitted]

12. University of Papua New Guinea Slide 11 Lecture 1: Introduction to Development Economics Michael Cornish Expectations Bad cop time: –Some words about plagiarism… Zero tolerance

13. University of Papua New Guinea Slide 12 Lecture 1: Introduction to Development Economics Michael Cornish Textbook OR 10 th Edition 11 th Edition

14. University of Papua New Guinea Slide 13 Lecture 1: Introduction to Development Economics Michael Cornish Textbook OR 12 th Edition

15. University of Papua New Guinea Slide 14 Lecture 1: Introduction to Development Economics Michael Cornish Case Study: Vietnam

16. University of Papua New Guinea Slide 15 Lecture 1: Introduction to Development Economics Michael Cornish Some final words…