The process of economic development is never smooth. It is associated with profound changes in the fundamental structures of economic society. The rate of growth and development varies substantially between different economies. The course seeks to explain the factors that determine how societies grow and develop, with special emphasis on the role of technology and finance.

Various approaches, including those that consider capabilities, cumulative causation, the role of the state and institutions as well as traditional and structuralist approaches will be examined. Special attention will be paid to problems associated with growth, including those relating to equity and human rights issues.