A hundred years ago the richest nation was 11 times wealthier than the poorest. Now it is 50 times. The last century has shown that economic growth and development are different phenomena, although clearly linked. So what are these links? How do poverty and inequality interfere with development, and how can we design policies that indeed make a difference for the millions of poor on Earth? This course provides an introduction to the economic analysis of the phenomenon of development and underdevelopment. It addresses the meaning and measures of economic development, the process by which it occurred in some of the now-developed countries, and specific structural and institutional problems that plague the currently underdeveloped world. Policy issues will also be discussed.