Development Microeconomics

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9780198773702: Development Microeconomics

Traditional development economics has recently been revolutionized by the application of new economic tools and concepts. Development Microeconomics is the first in a series of books which will look at the entire spectrum of development economics issues, combining the strengths of conventional developmental thought with the insights of contemporary mainstream economics. The main new conceptual tool used is the application of the theory of imperfect information and the effects this has on the the behaviour of economic agents. This helps to explain why perfect competition models rarely have success when dealing with developing economies. The authors also stress the necessity of balance in dealing with many of the classic problems in development studiesthe importance of both the individual as economic agent and cultural norms as the framework of social behaviour; the dual relationship between equity and efficiency in economic policy-making; the importance of market rivalry and the potential of market breakdown. Designed specifically for graduate students, this book analyses the key microeconomic problems facing the very poorest sectors of developing economies. It utilises simple theoretical models, and is presented in a compact and analytical form. High technical sophistication is avoided, and the only pre-requisite is some familiarity with the tools of general microecomic theory at a first-year graduate or advanced undergraduate level.

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About the Author:


Pranab Bardhan is currently Professor of Economics at the University of California at Berkeley. He has previously been Professor of Economics at the Delhi School of Economics and at the Indian Statistical Institute in New Delhi.

Christopher Udry is Professor of Economics at the Economic Growth Center in Yale University.

Review:

`It will be a surprise if this volume is not found as a key reference on postgraduate development economics courses over the next few years'
Scott McDonald, Journal of Development Studies

`the analyses gathered together in this volume should make a substantial contribution in shifting the emphasis in development economics courses towards microeconomic topics'
Scott McDonald, Journal of Development Studies

`This is an excellent book. It is a comprehensive survey of the issues of the household economy in developing countries ... essential reading not only for graduate students, but also for anyone intending to do research in development economics ... It sure made me want to read more.'
Pushkar Maitra, Economic Record, Vol. 76, No.234, Sept 2000

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Udry, Christopher, Bardhan, Pranab
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