This course explores the interconnections between economic growth, economic development, and the environment. It begins by distinguishing between economic growth—the increase in a country’s output or income—and economic development, which includes broader improvements in living standards, poverty reduction, education, health, and overall human well-being. The course examines various theories of growth and development, and evaluates how these frameworks explain differences in development across countries.
A central focus of the course is the role of the environment in shaping sustainable development. It highlights how economic activities often lead to environmental degradation such as pollution, resource depletion, and climate change. Concepts like externalities, market failure, and environmental valuation are introduced to understand why environmental problems arise and how they can be addressed through policy interventions such as taxes, regulations, and property rights. The course also covers sustainable development, emphasizing the need to balance economic progress with environmental protection for future generations.
By integrating economic theory with real-world environmental challenges, the course equips students with analytical tools to evaluate policies and strategies for inclusive and sustainable development. It encourages critical thinking about how economies can grow while preserving ecological balance, making it highly relevant in today’s context of global environmental concerns.