What is Development?

• Development Vs. Economic Growth
• Underdevelopment
• Case Studies from Afghanistan

Financing Economic Growth and Development

• IMF and World Bank
• The Debt Crisis
• Foreign Direct Investment

Assignment for Next Time

Read pp. 497-513. Come to class with a basic understanding of the following concepts: modernization theories, Rostow's model, dependency theory, development of underdevelopment, World-Systems Theory, colonialism and development, regional development, center periphery, development strategies, import substitution industrialization, export led industrialization.