Development Economics: Macroeconomics

Two aerial photos, one of undeveloped land in Mexico, the other an industrial city.

Two macroeconomic landscapes, one of the Chicago area that is developed and another of undeveloped landscape in Mexico. (Top photo: Image courtesy of UIC Digital Collections on Flickr. CC BY-NC-SA. Bottom photo: Image courtesy of John Picken on Flickr. CC BY.)


MIT Course Number


As Taught In

Spring 2013



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Course Description

Course Features

Course Description

This course emphasizes dynamic models of growth and development. Topics covered include: migration, modernization, and technological change; static and dynamic models of political economy; the dynamics of income distribution and institutional change; firm structure in developing countries; development, transparency, and functioning of financial markets; privatization; and banks and credit market institutions in emerging markets.

At MIT, this course was team taught by Prof. Robert Townsend, who taught for the first half of the semester, and Prof. Abhijit Banerjee, who taught during the second half. On OCW we are only including materials associated with sessions one through 13, which comprise the first half of the class.

Related Content

Robert Townsend. 14.772 Development Economics: Macroeconomics, Spring 2013. (Massachusetts Institute of Technology: MIT OpenCourseWare), (Accessed). License: Creative Commons BY-NC-SA

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