QUEZON CITY UNIVERSITY

COLLEGE OF ACCOUNTANCY

BACHELOR OF SCIENCE IN ACCOUNTANCY

COURSE TITLE : Economic Development

COURSE CODE : ACCEDEV
NUMBER OF UNITS : 3 units
PRE-REQUISITE COURSE :

COURSE DESCRIPTION:

The course deals with the principal issues of economic development. Emphasis will be on
economy-wide aspects of economic development, with special references to international
dimensions of national development policy making. The aim of the course is to provide students
with an understanding of the immense and varied economic challenges facing the world’s
impoverished and developing economies in general, and what practical and effective policies can
be implemented to address these challenges. Topics include key development economic growth
theories, international trade development theories, and related economic development theories.

After successful completion of this course, the student is expected to:

1. Manifest understanding of the nature and value of Economic Development in the increasing
integration of national and international Markets
2. Appraise the value of the development of policy-making towards national progress
3. Appreciate human values which is part of the societal values that determine economic
progress of a nation
4. Recognize the challenges of local as well as global economies towards making an economic
progress
5. Determine and explain the factors which drives the financial markets of local as well as
global economies through economic and market models

Textbooks and references:

1. Economic Development – Twelfth Edition; 2015; Michael P. Todaro, Stephen C. Smith;
GM Miranda & Sons
2. Financial Markets and Institutions – 2020 Edition, Ma. Elenita B. Cabrera & Gilbert
Anthony B. Cabrera, GIC Enterprises & Co., Inc.

Requirements:
1. Class Participation
2. Quiz/Recitation/Assignments/Seatwork/Output
3. Major Examination
DETAILED COURSE OUTLINE
Week Hours Topic
1-2 6 I. Introduction to Economic Development: A Global
Perspective
● Economics and Development Studies
i. The Nature of Development Economics
ii. Why Study Development Economics
iii. The Important Role of Values in
Development Economics
iv. Economies as Social Systems
● What do we mean by development?
i. Traditional Economic Measures
ii. The New Economic View of
Development
iii. Amartya Sen’s “Capability” Approach
iv. Development and Happiness
v. Three Core Values of Development
vi. The Central Role of Women
vii. The Three Objectives of Development
● The Future of the Millennium Development
Goals
3-4 6 II. Comparative Economic Development
● Defining the Developing World
● Basic Indicators of Development: Real Income,
Health, and Education
i. Purchasing Power Parity
ii. Indicators of Health and Education
● Holistic Measures of Living Levels and
Capabilities
o The New Human Development Index
● Characteristics of the Developing World:
Diversity with Commonality
i. Lower levels of Living and Productivity
ii. Lower levels of Human Capital
iii. Higher population of Growth Rates
iv. Greater Social Fractionalization
v. Larger Rural Populations but rapid Rural
to Urban Migration
vi. Lower Levels of Industrialization and
Manufactured Exports
Learning Outcomes
⮚ Define Economic Development
⮚ Explain the increasing integratio
of national economies into
expanding international markets
⮚ Distinguish the factors
contributing to the improvement
of the quality of human lives,
levels of living, self-esteem, and
freedom
⮚ Discuss the organizational and
institutional structure of a society
including values, attitudes, powe
structures, and traditions
⮚ Juxtapose the traditional with the
New Economic View of
Development
⮚ Recognize the Central Role of
Women in Economic
Development
⮚ Project an overview of the
Millennium Development Goals
⮚ Define the meaning of the
Developing World
⮚ Understand the basic indicators o
development
⮚ Identify Gross National Income
(GNI), Gross Domestic Product
(GDP), Gross National Product
(GNP)
⮚ Contrast and compare the basic
indicators of development
⮚ Describe the Purchasing Power
Parity (PPP)
⮚ Compare and contrast PPP with
exchange rates
 vii.Adverse Geography
viii.Underdeveloped Markets
ix.Lingering Colonial Impacts and Unequal
International Relations
● How Low-Income Countries Today differ from
Developed Countries in their Early Stages
i. Physical and Human Resource
Endowments
ii. Relative levels of Per Capita Income and
GDP
iii. Population Size, Distribution, and
Growth
iv. The Growth Stimulus of International
Trade
5-6 6 III. Classic Theories of Economic Growth and
Development
● Classic Theories of Economic Development:
Four Approaches
● Development as Growth and the Linear-Stages
Theories
i. Rostow’s Stages of Growth
ii. The Harrod-Domar Growth Model
iii. Obstacles and Constraints
● The International-Dependence Revolution
i. The Neocolonial Dependence Model
ii. The False-Paradigm Model
iii. The Dualistic-Development Thesis
⮚ Gain understanding on the
measurement of Human
Development Index
⮚ Identify the factors involved in
Diversity and Commonality
⮚ Gain understanding of the levels
of Human Capital
⮚ Discern characteristics such as
underdeveloped markets, advers
geography, higher population
growth rates, and greater social
fractionalization
⮚ Identify the Growth Stimulus of
International Trade
⮚ Distinguish Divergence and
Convergence
⮚ Enumerate and identify the facto
affecting low-income countries
such as:
i. Physical and human
resource endowments
ii. Relative levels of Per
Capita Income and GDP
iii. Climatic Differences
iv. Population Size
v. Historical Role of
international migration
vi. International trade benefi
vii. Basic scientific and
technological R&D
⮚ Efficacy of Domestic Institution
⮚ Identify the Classic Theories of
Economic Development and its
four approaches
⮚ Know the steps in the
Development as Growth and the
Linear-Stages Theories
⮚ Gain an understanding of the
Structural Change Models
⮚ Enumerate the concepts of the
International-Dependence
Revolution
 iv. Conclusions and Implications
7-8 6 IV. Population Growth and Economic Development:
Causes, Consequence, and Controversies
● The Basic Issue: Population Growth and the
Quality of Life
● Population Growth: Past, Present, and Future
i. World Population Growth throughout
History
ii. Structure of the World’s Population
iii. The Hidden Momentum of Population
Growth
● The Demographic Transition
● The Causes of High Fertility in Developing
Countries:
i. The Maltusian Population Trap
ii. Criticisms of the Malthusian Model
The Microeconomic Household Theory of Fertility
9 3 Mid-term examination
10-11 6 V. Human Capital: Education and Health in
Economic Development
● The Central Roles of Education and Health
i. Education and Health as joint
investments for Development
ii. Improving Health and Education: Why
increasing income is not sufficient
● Investing in Education and Health: The Human
Capital Approach
● Child Labor
● The Gender Gap: Discrimination in Education
and Health
i. Education and Gender
ii. Health and Gender
iii. Consequences of Gender Bias in Health
and Education
● Educational Systems and Development
i. The Political Economy of Educational
Supply and Demand: The Relationship
between Employment Opportunities and
Educational Demands
ii. Social versus Private Benefits and Costs
iii. Distribution of Education
● Health, Productivity, and Policy
i. Productivity
ii. Health Systems Policy
⮚ Be able to integrate the Causes,
Consequence, and Controversies
on Population Growth and
Economic Development
⮚ Identify the connection between
Population Growth and the
Quality of Life
⮚ Be able to see the connection
between Population Growth as it
affects the Economic
Development of a Country and t
a Global Scale
⮚ Understand the significance of
Demographic Transition in
Economic Development
⮚ Understand the significance of
Education and Health in Econom
Development
⮚ Distinguish the central roles of
Education and Health
⮚ Know the importance of Investin
in Education and Health as a way
towards Economic Development
⮚ Identify the Gender Gap Issue an
the discrimination on women in
education
⮚ Recognize the root causes and
consequences of Child Labor
⮚ Understand the consequences of
the Gender Bias in Health and
Education
⮚ Recognize the Educational
Systems and Development and it
relation to Political Economy an
the relationship between
Employment Opportunities and
Educational Demands

12-13 6 VI. Agricultural Transformation and Rural
Development
● The Imperative of Agricultural Progress and
Rural Development
● The Structure of Agrarian Systems in the
Developing World
● The Important Role of Women
VII. The Environment and Development
● Environment and Development: The Basic
Issues
i. Economics and Environment
ii. Sustainable Development and
Environmental Accounting
iii. The Global Environment and
Economy
● Global Warming and Climate Change: Scope,
Mitigation, and Adaptation
● Urban Development and the Environment
Policy Options in Developing and Developed
Countries
14-15 6 VIII. Development Policymaking and the Roles of
Market, State, and Civil Society
● A Question of Balance
● Development Planning: Concepts and Rationale
i. The Planning Mystique
ii. The Nature of Development
Planning
iii. Planning in Mixed Developing
Economies
iv. The Rationale for Development
Planning
● The Development Planning Process: Some
Basic Models
i. Three Stages of Planning
ii. Aggregate Growth Models:
Projecting Macro Variables
iii. Project Appraisal and Social
Cost-Benefit Analysis
● The Market Economy
● Trends in Governance and Reform
i. Tackling the Problem of Corruption
ii. Decentralization
Identify the Health, Productivity, and
Policy Systems towards Nation
Building
⮚ State and discuss the Importance
of Agricultural Transformation
and Rural Development towards
Economic Development
⮚ Identify the Structural reforms o
Agrarian Systems in the
Developing World
⮚ State the Importance of the Role
of Women in Economic
Development
⮚ Enumerate the Basic Issues in
Environment and Development
⮚ State the effects of the
Environmental Change and Glob
Warming in the Economy
⮚ Distinguish the significance of
Urban Development and the
Environment
State the Importance of Policy
Options in Developed Countries
⮚ Recognize how Policymaking
plays a role in the development o
State and Civil Society
⮚ Enumerate and state the Concept
and Rationale of the Developme
Planning which include the
following
i. The Planning Mystique
ii. The Nature of
Development Planning
iii. Planning in Mixed
Developing Economies
and
iv. The Rationale for
Development Process
⮚ State the importance of Some
Basic Models such as the Three
Stages of Planning, Aggregate
Growth Models, Macro Variable
and Project Appraisal and Social
Cost-Benefit Analysis
 iii. Development Participation
16-17 6 IX. International Trade Theory and Development
Strategy
● Economic Globalization: An Introduction
● International Trade: Some Key Issues
i. Five Basic Questions about Trade and
Development
ii. Importance of Exports to Different
Developing Nations
iii. Demand Elasticities and Export Earnings
Instability
● Traditional Trade Strategies and Policy
Mechanisms for Development
● The Industrialization Strategy Approach to
Export Policy
● Trade Policies of Developed Countries: The
Need for Reform
X. Finance and Fiscal Policy for Development
● The Role of Financial System in Economic
Development
● The Role of Central Banks and Alternative
Arrangements
● Informal Finance and the Rise of Microfinance
i. Traditional Informal Finance
ii. Microfinance Institutions
● Fiscal Policy and Development
i. Macro-stability and Resource
Mobilization
Taxation: Direct and Indirect
⮚ Understand the importance of th
Market Economy and its factors
that affect the environment
State and enumerate the trends
Governance and Reform in Tackli
the Problem of Corruptio
Decentralization and Developme
Participation
⮚ State the importance of
International Trade in Economic
Development
⮚ Determine the significance of
Exportation of Goods
⮚ Compare and Contrast some of t
key issues surrounding
International Trade
⮚ Appreciate the significance of
Local Companies going Global
⮚ Recognize the significance
Demand Elasticities and Export
Earnings Instability
⮚ Learn traditional Trade Strategie
and the process involve in Policy
Mechanisms for Development
⮚ Appreciate how Local Companie
can break through the Global
barrier and gain Competitive
Advantage
⮚ State the importance of a Fiscal
Policy and how it affects the
Economy of a Country
⮚ Learn how the Central Banks
regulate financial transactions
governing a country
⮚ Identify other unconventional
sources of financing and the
importance of Microfinance
Institutions and distinguish it fro
Traditional Informal Finance
State the significance of Fiscal Polic
and Development through
Macro-Stability and Resource
 Mobilization and Direct as well as
Indirect Taxation

18 3 Final Examination
EXPECTATIONS FROM STUDENTS:
1. The student is responsible to come to each class prepared.
2. The student is expected to take all examinations on the date scheduled.
3. The student is expected to read the assigned chapter and solve exercises/problems prior to
Class.
4. The student is expected to attend each class and participate actively in the discussions.
5. The student is expected to do the seatwork/exercises that will be assigned by the instructor
inside the classroom.

ACADEMIC DISHONESTY:
Academic dishonesty is subject to University’s rules and regulations.

POLICY on ABSENCES:
1. Missed Classes: Students who miss class are responsible for content. Any student who
misses a class has the responsibility for obtaining copies of notes, handouts, assignments,
etc. If additional assistance is still necessary, an appointment should be scheduled with
the instructor. Class time is not to be used to go over material with students who have
missed class.
2. Incurrence of three tardiness is equal to one absence.
3. Incurrence of three consecutive absences is considered unauthorized dropped.
4. Incurrence of four absences is considered unauthorized dropped.

GRADING SYSTEM:
Midterm Grade (MG) Pre-Final Grade (PFG)
Midterm Exam Final Exam 40%
Class Standing 40% Class Standing 60%
60% Assignment 10%
Assignment 10% Recitation 10%
Recitation 10% Test/Quiz 20%
Test/Quiz 20% Output/Seatwork 20%
Output/Seatwork 20% 100%
100%

Final Grade (FG)= (MG + PFG) / 2

POINT POINT
GRADE REMARKS GRADE REMARKS
Equivalent Equivalent

98-100 1.00 Excellent 77-79 2.75 Satisfactory

95-97 1.25 Excellent 75-76 3.00 Passed

92-94 1.50 Very Good Below 75 5.00 Fail

89-91 1.75 Very Good INC Incomplete

86-88 2.00 Good OD Officially Dropped

83-85 2.25 Good UD Unofficially Dropped

80-82 2.50 Satisfactory

Prepared by: Approved by: Noted by:

Alfred Cesar C. Quinsay, CPA, Dr. Gerardo T. Bautista, CPA Dr.Glenda A. Rebucas
MBA
Faculty Member Acting Dean Acting VP for Academics

I have read the course syllabus and I understand that I have to comply with the requirements of
the course and the expectations from me as a student of ______________ during the __
Semester of _________. I am fully aware of the consequences of non-compliance with the
above-mentioned requirements and expectations.

________________________________
Printed name and signature of student

________________________________
Date