What a luxury opportunity to be taught by one of prominent scholars in development economics, thank you MIT for this open course

0:15: Introduction 1:51: Course Structure 2:28: Lectures and Recitation 2:36: Reading Papers 3:28: Problem Sets 5:15: Research Proposal 5:32: Course Audience 8:04: PPP Adjustment 12:19: Richest Countries in the World 14:30: Poorest and richest countries 16:28: Income and well-being outcomes 26:05: Differences in growth rates 27:27: Geopolitical news for emerging economies 38:23: Global Welfare Improvements 43:11: Development Accounting 44:27: Explanation of cross-country data 44:54: Revision of cross-country data 46:23: Factors that explain growth 49:23: Variation in macroeconomic policies 50:42: Issues with growth regression 53:04: Inability to explain economic growth 53:52: Assumption of aggregate production function 55:53: Variation in return to investments 58:11: Trust as a factor in investment 58:25: Imperfect market for capital 59:45: Factors contributing to productivity differences 60:18: Poverty trap 68:56: Human capital 69:59: Labor markets, land markets, and credit 70:12: Public sector

so happy to see the updated version of this amazing course!

Professor Duflo! Awesome! Thanks Mit opencourse to make this available for people couldn’t make to MIT!

ECON student from #China here. Thank you #MIT for making these lectures available here.

I'm a Mechanical Engineer and a Maths Teacher and I've recently developed interest in economics and businesses. This lecture was a great opportunity to learn for me from Esher Duflow and Abhijit Banerjee are Nobel Prize 🏆 winner couple in Economics. She is working leading a team which includes Raghuram Rajan of economist to implement the bottom up economic model with Tamil Nadu government. Trickle Down economics is a scam to keep rich richer and poor poorer. This women with her husband has turned out this scam upside down. Hats off to her.

Finally got your lecture, ❤ I has been waiting.

This was brilliant, truly amazing, you are explaining the concepts so well.

Waiting for this very long time. Welcome madam

MIT pls add course 14.02 : Principles of Macroeconomics

Awesome lectures.❤❤

Please MIT, offer more Open courses, Spread your brilliant knowledge, thank you, Greetings from Germany

她是2019年的诺贝尔经济学奖的获得者. MIT的学生太幸运了. 我感叹教育资源的不平均; 也感叹互联网让学习变的容易

Computer Scientist here. Looking forward to watch this course. Hope it is fun! Thanks for uploading

Dear MIT Opencourseware, please add updated class od FINANCIAL ENGINEERING, PORTFOLIO MANAGEMENT etc related to Finance

Thankyou so much ma'am very interesting lecture love from India 🇮🇳🇮🇳

merci madame: brilliant 👏

Big Thank you for video

oh, thank you, for the good lecture that's wonderful from my experience, even if the basket is small, i can get enough quality of goods, relevant to a big basket

Very Good Lecture.

Interesting!! Had read her book, "Poor Economics." A good read!!

00:05 Introduction to the core topics in development economics 02:28 Lectures and recitation schedule 07:04 Difference between gross national income and GDP 09:35 The challenge of comparing standard of living between countries 15:08 Income differences of one in 200 matter for well-being outcomes 17:30 Disparity in under-five mortality rates compared to GDP per capita 22:43 Poor countries face challenges in accessing funds for stimulus measures. 24:50 Difference in GDP and growth rates have significant impacts on countries' ability to support citizens during crises. 29:25 The income of people in the bottom percentiles has seen significant growth, mainly driven by China and India. 31:33 Rapid progress in global development and challenges ahead 35:56 Government's loss of ability to measure poverty due to reliance on private companies for survey data 37:56 Poverty's impact at individual and country level 42:08 Understanding the factors behind income differences in development economics. 44:14 Initial optimism in using capital and enrollment rate data to explain income per capita difference 48:25 Development economics involves compensating for geographical disadvantages and considering macroeconomic policies 50:41 Challenges in interpreting the effects of various policies on economic development 55:02 The return to capital and human capital varies greatly within economies. 57:16 Local boys in Tirupur have lower return to capital compared to people from other towns. 1:01:25 Introduction to the public sector 1:03:51 Understanding the concept of poverty trap and its impact on economic development. 1:08:40 Key factors contributing to poverty traps. 1:10:39 Wishing for an excellent semester

Infrastructure Development is one of main issue related to Development Economics. Roads,Streets,Water Supply,Electricity,Public Transportation (Buses&Trains,Metros), Gov't Public Hospitals,Sanitation,Hygiene, Gov't Low Cost Houses for poor, Generation of Local Employment or jobs,Public Schools, Colleges & Universities,Jobs for all, Agro based industry,promotion of home & micro industries etc.are imp

thank you

Great teaching

Nice work

12:10 countries with the most GNI 13:03

Wondering if we ought to read any paper as a pre-read for next lecture. There were many papers discussed, reading them all may take time 😅

I want to say something about 1.09. The ability of 5th Standard students to study 2nd standard text depends on many things. It may vary from State to State. There are more than 25 states in India. Even within states, it may vary from town to town. Private schools are situated in urban areas. Government schools are situated in rural areas. The lifestyle of the students living in urban areas and those living in rural areas is entirely different. For example, a town child may spend extra hours studying whereas a poor rural child, especially a girl child, has to take care of many other things. So this difference. There is one paradox. In Tamilnadu, ( a state in India)the government spends more on health, education, and library. However, people will prefer private schools, private hospitals, and even private libraries. This is not related to quality. Government hospitals can perform heart surgeries at the cost of free. A student need not spend a single penny on government school. Still, people prefer private.

Great!

Be happy mam

Thanks for this interesting course offered by MIT as a public goods or services. I haven't followed the whole presentation. Really I would like to find out, how to finance development in DCs. The existing theory proposes by saving, or if not, to borrow from foreign countries or from international institution. How is about using the so called "forced saving"? In 2008, Bernanke at that time complained the "abundant of saving" in China, leading to global very low interest rates. In fact, what was done in China was the "forced savings", not real savings out of the country's real income.

so it is a perpetual argument on how to best do PPP?

What is aggregate income? Gini variable, GDP, hunger people is every where from macau to africa, modern city is every where, but slum spot is also there

7:18 Isn't it supposed to be Gross instead of Growth?

We stream Lee like ❤this course is we wish hello, such as courses and lectures by economics

Economist here, I'm doing research on Brazil's developmental policy.

In you tube a lot of lectures and chennal but your chemistry and biology lecture is 👍👍👍👍

Very niece lecture maim🇮🇳😘

Here from Erhiopia Thank Mit open

Opening the 26 Multi Storey Casinos in Singapore within 1 year. Increases GDP & GNP in the Economics, Econometrics of the country. { Li Hongyi & family} /// Bachelor degrees in Computer & Economics

I have seen this powerpoint format in other presentations and I am just wondering, can't there be a variation in this? Everyone's using the same format...this is not to badmouth the presentation itself, just a simple comment

Woohoooooooo!

Hello I'm from Pakistan 🇵🇰 And I watch your MIT open lecture Amazing

I am studying in MIT. What a privilege.

Alcohol, tall, care, air fair, people, meat, national mall, guest, warcraft, slap, map, aloha, wormhole, lost soul, phone call, what sea-pho?

Tirupur is my hometown.

Concerned about using covid vaccine coverage as a poverty measure unless the numbers have been adjusted for the severity of the pandemic. The pandemic was mild in Africa, which affected the perceived need for the vaccine at individual and policy level.

Girroz di'metal

13:37 Macao and Bermuda are not countries though. Macau is a "special administrative region" of China, and Bermuda is a British overseas territory.

👏👏👏👍

She seems to have a French accent ?

Macau is not a country...if you can compare Macao with other real countries by definition...then you can also compare Shanghai, Shenzhen, Hangzhou, Beijing assuming they are little countries..

Dude it’s been 60 secondes and they already have 3likes 😂 Also: this course sounds promising !

Hi, I'm from São Paulo!

Hi everyone! How this course is called?

Can you suggest books to read and do research on Economics?

42:43

Inspite of the ardent try of the academic arena it is found that every place in India is getting doomed,its been observed since the posterior end of Covid so vehemently.Hence,it is really of obviousity something really wrong or irrational system works under this macroeconomically which is the factorization of causes of the expectation function of the economy in probabilistic sense.A great thwarting agenda of deprivation lacking proper monitoring is also macrogenic. We should be more profound to grapple all the factors to develop ourselves to be the utmost,as micro economy is concerned it is substantially governmental arena to substantiation.

Not hearing much about the beneficial effects of capitalism here-- ideological reasons?

Disturbing much?

Can you earn a certificate for this course?

I don’t study econ but damn she looks strong

Book smarts. Not business savvy.

What accent? Russian or German

No, the reason you can aggregate this is because economists think they can aggregate individual demand curves and not get weird equilibriums, sureee

You are commenting on the quality of a MIT professor whois also a Nobel Prize winner. What makes you think you are qualified to do so ?

Her accent is so strong

I thought this was home economics 😢

People in Burandi own their own homes, and land, without bank loans... so Wealth PPP adjusted makes more sense... and the West will drop down the ranks.

Why speakers put off mask? Why when don't speak ,put on?

à 19:53 mais pourquoi vous avez couper le sahara marocain du reste du territoire marocain?? je vous invite à venir visite le maroc et surtout le sud marocain. vive le sahara marocain. je vous rappelle que les tirailleurs marocains sont mort pour la france durant les deux guerres. le maroc a soutenue les français contre les separatistes corses et basques et surtout contre les nazis. alors on invite les français à soutenir le maroc contre les separatistes du polisario armés par l'algerie et qui se sont retranchés dans la ville de tindouf actuellement ville algerienne et autrefois ville marocaine.

My jaw dropped, I thought MIT would have professors with at least intermediate English pronunciation. I cannot understand her speech at all. I am not disappointed with her knowledge, although the barrier to communicating it. 😮

When you're French and you find this

Soothing accent

You should call Yanis (with one n) Varoufakis, to teach you how to develop countries.

Is she German? She speaks like German accent. Awesome class. I like it. Congrats

save your money the world is fucked there’s no hope the rich will kill us all

Is she speaking English ? How can you learn from someone you can’t understand

So funny, she excludes "petro states" from the PPP list and then names Norway at the top of the list. So amazing how naive Europeans can be, she just can't imagine that Norway is a "petro state". The income and wealth of Norway is basically entirely built on oil and gas, kinda like Saudi. She also first explains how PPP is in practice literally a completely impossible factor to measure, which is correct, and then she decides to use it anyway. I agree that the PPP measure in theory makes 100% sense, but in practice it is a complete mess with massive political pressures involved and just really hard to measure. When I go to a poor country and eat a shitty steak at 30% of the price of an excellent steak in a developed country, then the PPP measure for this is 70% cheaper than the steak in the developed world? lmao.

Hands need to be better managed.

This professor sure is good meat for the dragon. Good bye.

Ester fait un petit effort sur l'accent stp 😆😆😆... les français , mdrr

Ester is a renowned researcher in development economic. But i would like to say, with my utmost respect toward her, her lecture is too much obscure - accent is not clear, and she switches to another sentence promptly without finishing the full sentence.

Again, a fallacy. The Rich countries 'spending' on CoViD includes the billions of dollars of donations for the "Poor" countries... so the poor countries need spend less since 'free free free'... and the rich countries paying more, since paying for the poor countries.

Her accent is so heavy .

When will you condemn Israel for its war crimes? How about bringing development to Palestinians.

Why would you hire a french-english teacher for something as common as Economics? Or is this some sort of advance thing you only learn in France?

I wouldn't believe that the quality of a lecturer at MIT is that low.

Each factor is optimized? Another assumption? I do not see any mention to national IQ as a predictor to economic development

hidemyacc