MBRM500 Development economics


Development Economics is an overwhelming field because it shows how economic analysis can help us understand the major topics of the 21st century - poverty and inequality, globalization and trade, the successes and failures of economies in different regions of the world.

The course introduces students to the basic concepts, theories and tools of the rapidly developing field of development economics - macro, micro and international economics, related to the various structural and functional dimensions and effects of economic growth, as well as the economic, demographic, social, environmental, and especially commercial aspects of development.

The main objective of the course is to acquaint students with the development of the modern research area of development economics to create knowledge, skills and competence to analyze the opportunities and assess the risks associated with the various problems in the broad field of development economics - as macroeconomic level in terms of state policy and microeconomic level - as a basis for making adequate management decisions in the internationalization of company activity.

In addition, through practical classroom work assignments and scheduled seminars, the Development Economics course introduces students to the status, prospects and challenges of the social and economic development of developing and underdeveloped regions and economies that are gaining an increasingly important role in the world economy.

The course uses modern teaching aids - interactive presentations, use of various multimedia and online content, group discussions, simulations.

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International Business and Development


Assist. Prof. Elena Spasova, PhD.,
Assist. prof. Eduard Marinov, PhD

Course Description:


Students who complete this course:

1) will know:

• the basic theories and models for economic growth and economic development;

• current understanding and ideas in the field of development economy;

• the factors, causes and main instruments to combat inequality, poverty and other major developmental problems;

• the techniques, methods and tools for measuring and evaluating various aspects of economic development;

• the status and opportunities for the development of foreign economic activity in developing and underdeveloped regions and economies in the world economy.

2) will be able to:

• analyze the impact of different policies on economic development;

• critically evaluate the dynamics and key trends in the global economy in terms of growth and development and formulate and substantiate their own positions on the guidelines for the development of national economic and foreign economic policies;

• to use the acquired knowledge to analyze and critically evaluate the possibilities for geographical expansion of business activity in perspective but little known countries and regions.

Students are required to have the following knowledge and/or skills:

• Microeconomics

• Macroeconomics

Full-time Programmes

Types of Courses:

Language of teaching:



Main reading:

• Michael P. Todaro; Stephen C Smith. Economic Development. 11th 12th Edition, 20122015.

• Alain de Janvry and Elisabeth Sadoulet. Development economics : theory and practice. Routledge, 2016.

Complementary literature:

• Handbooks of Development Economics. Dani Rodrik and Mark R. Rosenzweig (eds.), Elsevier, volumes 1-5, 1988-2010.

• Dwight H. Perkins, Steven Radelet, David L. Lindauer, Steven A. Block. Economics of Development. W. W. Norton & Company, 7th edition, 2012.

• Debraj Ray. Development economics. Princeton University Press, 1998.

• Gerard Roland. Development Economics. Routledge, 2016.

• Subrata Ghatak. Introduction to Development Economics. 3rd Edition, 2005.

• Yujiro Hayami and Yoshihisa Good. Development Economics: From Poverty to Wealth of Nations. 3rd Edition, Oxford University Press, 2005.

• Michael Tribe, Frederick Nixson and Andy Sumner. Economics and Development Studies. Routledge, 2010.

• Banerjee, A. and E. Duflo. 2011. Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty. New York, NY: Public Affairs.

• Durlauf, St. and Ph. Aghion (eds.). 2005. Handbook of Economic Growth, Vol. 1A: 473–552. Amsterdam: North Holland, Elsevier.

• Goldin, I. 2018. Development: A Very Short Introduction. Oxford, UK: Oxford University Press.

• Taylor, J.E. and Lybbert, T.J. 2015. Essentials of Development Economics. University of California Press.


• Ongoing assessment - participation in discussions (10%), classroom work tasks (2x10%), development and presentation of an ongoing assessment task (70%)

• Final assessment - test (50%) and practical case (50%)