– Economic Development:Development and underdevelopment, perpetuation of underdevelopment. Poverty- absolute and relative; Measuring development and development gap- per capita income, Inequality of income and wealth, Human development Index and other indices of development and quality of life.
– Theories of Economic Development :Theories of development – Classical theory of development; Karl Marx theory of development, theory of social change, crisis in capitalism, Schumpeter and capitalistic development.
– Approaches To Economic Development:Partial theories of growth and development – vicious circle of poverty, circular causation, Unlimited supply of labour, Big Push, Balanced Growth, Unbalanced Growth, Critical Minimum Effort Thesis.
– Sectoral View of Development:Role of agriculture in economic development, Importance of land reforms. Efficiency and productivity in Agriculture. New technology and sustainable agriculture, Globalization and agricultural growth, pattern of industrialization in developing countries, Terms of trade between agriculture and industry, Infrastructure and its importance.
– International Aspect of Economic Development :International trade as an engine of growth, Static and dynamic gains from trade, Balance of payments, Tariffs and effective protection. Post GATT International economic order. WTO and developing Countries.

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