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Economic development 13th Edition By Michael P Todaro, Stephen C Smith

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Pages: 926
File size: 6.82 MB
Format: Digital PDF
Course: Education
Category: eBook[PDF]

About this ebook

The 13th Edition of Economic Development by Michael P. Todaro and Stephen C. Smith is structured into 15 main chapters across three core parts, covering the theory, policies, and global realities of development economics: [1, 2]

Part One: Principles and Concepts

Chapter 1: Introducing Economic Development: A Global Perspective – Focuses on defining what development actually means (beyond just GDP growth), highlighting core values, and outlining Todaro's three objectives of development (raising living standards, self-esteem, and freedom of choice). [1, 2, 3]
Chapter 2: Comparative Economic Development – Evaluates the differences among developing countries, measures of living levels using the Human Development Index (HDI), and whether living standards are globally converging. [1, 2]
Chapter 3: Classic Theories of Economic Growth and Development – Covers historical models such as the Harrod-Domar Model, Rostow’s stages of growth, structural change models, and international-dependence theories. [1, 2]
Chapter 4: Contemporary Models of Development and Underdevelopment – Explores newer growth theories, coordination failures, multiple equilibria, and the Big Push theory. [1]

Part Two: Problems and Policies: Domestic

Chapter 5: Poverty, Inequality, and Development – Analyzes the measurement of absolute poverty and income inequality, policies for economic redistribution, and the relationship between growth and equity.
Chapter 6: Population Growth and Economic Development: Causes, Consequences, and Controversies – Examines the demographic transition, numbers behind population growth, and debates surrounding whether population expansion is a drag or stimulus to development.
Chapter 7: Urbanization and Rural–Urban Migration: Theory and Policy – Focuses on the rapid growth of cities, urban informal sectors, and the influential Todaro Migration Model.
Chapter 8: Human Capital: Education and Health in Economic Development – Treats education and health as vital joint investments for growth and reviews behavioral insights on human capital.
Chapter 9: Agricultural Transformation and Rural Development – Analyzes traditional agriculture, the transition to commercial farming, agrarian reform, and smallholder productivity.
Chapter 10: The Environment and Development – Covers sustainable development, global warming and climate change adaptations, and the economics of environmental preservation.
Chapter 11: Development Policymaking and the Roles of Market, State, and Civil Society – Examines the historical balance between government planning, free markets, and the expanding role of Non-Governmental Organizations (NGOs). [1, 2]

Part Three: Problems and Policies: International and Macro

Chapter 12: International Trade Theory and Development Strategy – Discusses standard trade theories, primary product exports, and strategies like import substitution versus export promotion.
Chapter 13: Balance of Payments, Debt, Financial Crises, and Sustainable Recovery – Reviews third-world debt history, international macroeconomics, and recovering from financial shocks.
Chapter 14: Foreign Finance, Investment, Aid, and Conflict: Controversies and Opportunities – Evaluates the pros and cons of Foreign Direct Investment (FDI), multinational corporations, remittances, and foreign aid.
Chapter 15: Finance and Fiscal Policy for Development – Discusses taxation, the roles of central banks, microfinance systems, and macro stabilization policies. [1]