Eight hundred million people in our world are hungry. Sixteen thousand children die each day from hunger-related causes. World Bank figures show that three billion people live on less than $2.50 dollars per day. Many of these people live in rural areas and most of these people make their meager living from agricultural production and services. This course presents the student with an in-depth understanding of the economics of the rural poor, particularly those in the agricultural sector. Students will become familiar with the microeconomic tools and statistical methods utilized to understand and empirically analyze the agricultural development challenges in lower income countries.
Nearly one billion people live on $2.00 or less per day. This course is designed to introduce students to the causes, constraints, contexts, and potential solutions associated with poverty and economic development. Although this class is an economics course, helpful insights from anthropology, political science, ethics/worldview, psychology, sociology, history, etc. are incorporated into the presentations and discussions to capture the multi-dimensionality (i.e. holistic nature) and complexity of economic development.
This course demonstrates the practical application of the economic theory and techniques developed in your previous courses. On-going and published research is used to teach the step by step process of using economic theory to understand and analyze issues in the agricultural sector. Additionally, current issues and policies are selected to guide you through the process of translating an economic problem into a researchable question.
National economic problems such as unemployment, recessions, inflation, taxation, bank interest rates, the growth of government, monetary systems, and a rising national debt are discussed along with the principles, policies, and institutions for solving these macroeconomic problems.