This lesson discusses the Economic Growth and Development. It is an introduction to EGD. It is relevant for other courses like BBA, Economics (hons), for the graduation and post graduation level and for competitive exams like CUET Economics, IAS economics optional, Indian Economic Service and the NET JRF Economics aspirants.

The syllabus includes the following:
1. Difference between Economic Growth and Economic Development
2. Characteristics of an Under-Developed Economy
3. Nurkse's Vicious Circle of Poverty
4. Theories of Economic Development
4.1 Classical Theory: Stationary State
4.2 Marxian Theory / Decline of Capitalism and Rise of Working Class
4.3 Schumpeter's Theory : Innovations and Entrepreneurship
5. Theories of Economic Growth
5.1 Harrod-Domar Model
5.2 Solow model : Long Run Growth Model
5.3 Lewis Theory of Unlimited Supply of Labour
5.4 Fre-Ranis Theory of Development
5.5 Meade's Growth Model
5.6 Leibenstein's Critical Minimum Effort Thesis
5.7 Nelson's Low Level Equilibrium Trap
5.8 The Big Push Theory
5.9 Doctrine of Balanced Growth
5.10 The Concept of Unbalanced Growth
5.11 Kaldor's Model of Growth
5.12 Dualistic Development Theories
5.13 Rostow's Growth Model
5.14. Mrs. John Robinson's Growth Model
5.15 Investment Criteria in Economic Development Model
5.16 Two Gap Model
6. Simon Kuznet's Characteristics of Modern Economy

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