Bulletin Board
Development Economics

"Toward New Political Economy of Development"

Core Course for
Economic Development Policy and Management (EDP&M) Program

1st Semester, 2017-2018

As the core discipline subject of the DID’s Economic Development Policy & Management (EDPM) Program, this course "Development Economics (DE)" offers key principles and issues of Economics of Development bearing the needs of first-time learners in mind. Topics to be covered are:
1) the role of economic development in “development” and poverty reduction (Poverty-Growth-Inequality Triangle, SDGs);
2) the evolution of economic development thoughts;
3) the stylized facts in economic development (open and closed questions);
4) theories of development (traditional and new growth theories);
5) dualistic development and structural change (growth, poverty, and income distribution; rural-urban dichotomy);
6) financing development (capital and saving, financial system and development);
7) guiding development―markets vs. controls (the role of government in development, good governance);
8) development and institutions; and
9) new development challenges in the 21st century (globalization, international economic system, development and environment, and Sustainable Development Goals, etc.)

"Development Management uder Globalizatiopn (DMUG)," the sequel course to "Development Econmocs" offered in the second semester will handle international aspects of development economics.   The DMUG covers selected topics such as:
1) economic development under the changing environment of globalization (risks and benefits associated with globalization, rise and demise of the East Asian growth model, Africa’s marginalization, convergence club under globalization);
2) international trade and development (inward- vs. outward-oriented development strategies and trade reforms, regionalism vs. multilateralism, WTO and industrial promotion);
3) external finance of development (ODA, FDI and multilateral corporations, portfolio flows, debt & financial crises);
4) managing open-economy development (BOP management, the order of liberalization, exchange rate regimes and monetary policy rules, fiscal sustainability, crisis management);
5) toward governance and quality of growth under globalization (growth and equity under globalization, localization under globalization); and
6) country case studies (with student presentations).

Date of Entry

Messages for 2017 Participants

Due to malfunctions in my eyes, I will create BB this year simply by revising the course BB of 2016.
(Prof. Otsubo)

(Last Update: April 14, 2017)

April, 2017      


Self Study; Japanese Development Experience & Japnase Market System(s)

As we discussed in the lecture, a PowerPointNote is available in order for you to review/study the essense/elements of Japanese development experience and Japanese market systems. This document is also highly relevant for you in taking the 2nd-semeter lecture JADE (Japanese Development Experience), a reuired course to be offered in the second semester. You should download and read the following note by yourselves. There will be one question related to this document in your final take-home exam. Post-war Development of the Japanese Economy (Notes for EDP&M Students)

Post-war Development of the Japanese Economy (Notes for EDP&M Students)


July, 2017 Course Evaluation Sheets !!

You (either you are registered or auditting students) will be requested to fill one of the following course evaluation sheets and submit them in the lecture on July 18.

Development Economics 2017 Course Evaluation Sheet (English)
Development Economics 2017 Course Evaluation Sheet (Japanese)

These will be used for me to improve the contents of this course for future students. Your kind inputs will be most highly appreciated.

Thank you in advance.

Instructor: Prof. Shigeru T. Otsubo

June-July, 2017 Results from Market Experiment Part I !!

Summary Results from Market Experiments Part I

Download the results and analyse them... (The LINK will be provided later.)

June-July, 2017

--Market Experiments for you to feel the forces of markets, for you to feel the limitations of market-oriented development strategy....

-- Part I: Forces of the Markets?
-- (Part II: Can we supply Puclic Goods? Can we cooperate for development? -- Just Presentations, this year)

We will conduct market experiments so that you can feel/understand the market forces for us to discuss the key isseus of markets vs. goverrment controls/coordination for development.

On the days of Market Experiments lectures, classes will be stretched to 12:30pm so that we can finish experimMents in suitable blocks. Prepare for quick lunches.

Bring a caluculator with you to these market experiment sessions!!

Reading Requirements

Market Experiments: The Feel of Market Forces & The Roles of Governments

**Prof. Otsubo's Materials for Market Experiments (to be distributed in the class).

**Joseph E. Stiglitz, Principles of Micro-Econonmics, 2nd ed., W.W. Norton & Co., 1997 (Or any newr editions).
Read Chapter 7: The Public Sector, (OR Read the chapter on Public Sector in your textbook on Microeconomics.)

*Joseph E. Stiglitz, Economics of the Public Sector, 3rd ed., W.W. Norton & Co., 2000. (OR any newer editions.)
Read Chapter 1: The Public Sector in a Mixed Economy, and
Skim through Chapter 2: The Public Sector in the United States .
Read Chapter 3: Market Efficiency, Chapter 4: Market Failures, and Chapter 6: Public Goods.

(You can take a look at any related chapters in your textbook(s).)

For those who are interested in Experimental Economics, refer to readings in the On-line Course Syllabus.

Market vs. Government Control in Economic Development: Building Instituions for Development Coordination

**Economic Development, 12th (or 11th) ed.,
Chapter 11: Development Policymaking and the Roles of Market, State, and Civil Society.


**Economics of Development, 7th (or 6th) ed.,
Chapter 5: States and Markets.

**Development as Freedom
Read Chapter 5: Markets, State and Social Opportunity.

*Yoichiro Ishihara, "Economic Governance and Economic Performacne in Developing Countrires,"Forum of International Development Studies, Vol. 19 (Oct, 2001)
Excertpts will be distuributed in the class.
Download and read the full paper!

*Leading Issues in Economic Development, 8th ed., Chapter IX.
*Leading Issues in Economic Development, 6th ed.
Read Chapters X: Markets, Government, and Policy, VII.B: Promoting Industrialization, and VII.D: Privatization.
[For the 6th ed., Japanese Version is available as 「国際開発経済学入門」]

*World Bank, World Development Report 2002Builidng Instituions for Markets, 2002.

June 6, 2016

Abount the qustion raised w.r.t. the new directions of development economics, refer to the WDR2015 as a typical example.  Mind, Society, and Behabior



For those who can read Japanese articles, also refer to the JASID's Journal of International Development Studies, Voi.24, No.2 (2015.11)


Washington Consensus


May-June, 2017

May  + June Lectures

Part II: Learning Key Principles of Development Economics -- Growth Theories & Structural Models

Starting in mid May, we will deal with Growth Theories/Models. You are supposed to work on the required readings (**) in

Economic Growth Models and Theories: Growth Theories, Income Convergence?, Determinants of Growth, and Agriculture vs. Industry (Rural vs. Urban Sectors) section of the reading list.

Textbook chapters for the lectures in this Part II are the followings. Also refer to the on-line syllabus for the additional required and recommended readings.

We will follow Prof. Otsubo's not-so-beautiful lecture notes in this Part II. (To be distributed in the Class.)

Fisrt Lecture on Growth Theories and Models: Stages of Development, Balanced vs. Unbalanced Growth Models, Dependency Theory Basic Growth Model + Harrod-Domar Growth Model

**Robert J. Barro, Determinants of Economic Growth: A Cross-Country Empirical Study, MIT Press, 1997. Read Chapter 1: Economic Growth and Convergence. [To be discussed in the class.]

**Economic Development, 12th (or 11th) ed., Chapter 3.

Second Lecture on Growth Theories and Models: Neo-Classical Growth Model

**Economic Development, 12th (or 11th) ed., Chapter 3.

Third Lecture on Growth Theories and Models: Endogenous Growth Model + Two-Sector Model (+Rural-Urban Migration Model)

**Economic Development, 12th (or 11th) ed., Chapter 4.

**Economic Development, 12th (or 11th) ed.,Chapter 7. 'Migration and Development' (**) and 'Toward an Economic Therory of Rural-Urban Migration' (**)) for the Migration Model. (*) for other sections.



April, 2017

Some Lecture/Presentation Materials

1) I2ID-Development Economics Presentations: Part I (completed), Part II & Part III

2) AED Keynote & UNIDO IDR2016 Tokyo Launch Presentations

Tectbook: Read Chapters 5 of Economic Development, 12th Edition, and then proceed to Chapter 3.

Detailed Version of the P-G-I Triangle (Related to Chapter 5)


April, 2017

First lecture of "Development Economics" will meet on Tuesday, April 18 in the #3 Lecture Hall (10:30 a.m. - 12 noon)

April 18: Introdution to "Development Economics"

April 25 and May 2; Brain-Storming Presentations


April 26: Prof. Otsubo's I2ID Lecture (1-2:30pm at the GSID Auditorium, 8th floor)

1) Visit online course syllabus from the top page.

2) Start reading Chapters 1 and 2 of Economic Development, 12th Edition, and then proceed to Chapter 5.

2) Download and read Introduction and Chapter 1 of I2ID Book; AND Chapter 30 (concluding chapter) of Globalization and Development, Volume III.

Globalization and Development, Volumes I, II, and III are available at the Resteicted Circulation Section of the GSID Library.

Prof. Otsubo's I2ID Book Site

**Shigeru Otsubo, ed., Globalization and Development, Routledge, 2015. Volume III: In search of a new development paradigm (Password to open PDF files will be given in the first lecture of Development Economics.) **Chapter 30: In Search of a New Development Paradigm




*Majority of reading materials should be available in the designated section (Prof. Otsubo's corner) in the GSID library.

*No prerequistes for this course. This couse accomodates non-economists as well as semi- to full-economists.

*Students in Economic Development Policy & Management Program should take Development Microeconomics, Development Macroeconomics, and Development Statistics concurrently.

See you all in the class!

Prof. Otsubo