Monash University Handbook

The unit examines the process of economic development and its effects on prosperity, poverty and sustainability. The unit begins by studying the sources of prosperity via economic growth in the modern era, with particular reference to the Great Divergence in incomes that started during the 1800s. Second, the unit asks why some economic systems have prospered, whilst others have declined by turning its attention to disparate experiences of world-wide economic growth such as poverty and starvation. Finally we study the effects and prospects for future economic development in the context of environmental sustainability and climate change.

Outcomes

On successful completion of this subject, students should have developed:

An understanding of economic analysis as a key tool in explaining and understanding the disparate levels of wealth observed in the modern world
Knowledge of the key components of Economics thinking
The ability to use this analysis to identify the underlying causes of economic prosperity, poverty and environmental degradation in the modern global economy
Skills in critical analysis of policies aimed at alleviating global poverty such as the Millennium Development Goals, especially as they relate to sub-Saharan Africa
Skills in the critical assessment of academic contributions to issues of economic development and growth

Assessment

Within semester assessment: 50% + Exam: 50%

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. A unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.