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Development Topics in Economics and Finance

Development Topics in Economics and Finance

Code: ECO2LK002

Extent: 3 cr (81 h)

Timing: 2nd year

Language: English

Level: professional studies

Type: compulsory (FINA)

Starting level

Principles of Economics (ECO1LK001), International Economics (ECO2LK001) and International Finance (FIE2LK005). Mathematical requirements are kept to a minimum, although some degree of mathematical maturity will assist understanding of the material.

Learning outcomes

This course provides an introduction to development economics, a field of study that examines the economic transformation of low-income countries. The course also acquaint students with more specific questions related to funding projects in challenging markets, sustainable development, environmental economics, corporate social responsibility and the development of finance initiatives. Students will familiarise with the changing landscape of the global economic environment and learn how to make informed judgments about these issues.

Course contents

  • defining and measuring development
  • population growth and economic development
  • urbanisation and rural migration, the role of cities
  • agricultural transformation, the global food problem
  • economics and the environment, emissions trading
  • international trade and development, trade policies and export promotion
  • foreign finance, investment and aid, microfinance initiatives

Learning methods

The course will be taught for a total of 28 hours (4 contact hours per week). Each lecture is based on a set of readings and online-resources intended to help the student to explore the topics in greater detail.  Teaching and learning in this course will be through in-class exercises and discussion, case studies with problem-based approaches, take-home assignments and group exercises.
The own learning assessment 1 h.

International aspect

The course emphasises studying factors that impede the efficient, equitable and sustainable functioning of markets, with examples from around the world.


Annika Sandström

Course materials

Todaro, M.P and S.C. Smith. 2012. Economic Development. (11th edition). Pearson Education Ltd.
Articles and other material, instructed by the teachers.

Assessment criteria

Students' performance is graded on the following scale: Excellent (5), Very good (4), Good (3), Satisfactory (2), Fair (1), Fail (0). Assessment is based on how well the student masters the course content, as scored by the skills and knowledge criteria outlined in the table below. Evaluation elements reflect key concepts and theories, calculation methods and practical examples given during the course.



1 (min. 40 % accomplished)

3 (min. 70 % accomplished)

5 (min. 90 % accomplished)


The student understands economic problems related to choices and the allocation of scarce resources.

The topic of sustainability, and corporate social responsibility,  in particular, are well understood.

Environmental economics


+ he/she is familiar with basic indicators of development and knows how countries are categorised and compared.

+ he/she is aware of how countries’ historical experiences have affected their development progress.


+ he/she knows some central economic theories on information assymmetry, contracts, and risk bearing.

+ the student has examined the roles of international organisations, and selected nonprofit community development- and public sector programs.


The student can pinpoint the relationship and difference between the concepts of income, growth, happiness and development.

He/she can define economic development and use various methods how measure development.


+ he/she can analyse a combination of factors for economic progress; from the improvement of physical and human capital, the reduction of inequality, to the role of institutions that enable the flow of information essential to market performance .

+ the student is able to explain several central theories, and can identify practical situations where these theories apply.

+ students are familiar  with a synthesis of recent and older literature in the field and able to discuss future challenges.



Competence is measured only indirectly on this course.

Through various exercises, the students are being monitored how well they are able to explain sophisticated concepts in simple, direct language as well as how well they communicate clearly and effectively various themes and topics under discussion. Competence will develop from the above skills and knowledges, together with the ability to utilise other personal capacities to professional and personal development.



Grading of this course is based on:

-                     50% examination (final exam)

-                     50% assignments (take-home assignments, quizzes and group projects)

                      all parts shall be passed 

Student performance is assessed on a scale from 0 (fail) to 5 (excellent).
Points are obtained from assignments, exercises and the final exam that together measure various skills and copmetences outlined in the assessment criteria.
The assessment of one’s own learning does not influence the grade. The assignment is the same for all courses/modules and the answers will also be used for course/module development. The assignment is completed online in WinhaOpaali.