The book concludes with the authors’ look ahead at key emerging issues in economic development.Ĭoverage of topics is structured to allow instructors to adapt lecture topics based on their individual course.Įssential principles of economics relevant to understanding development problems are highlighted in boldface and are explained in detail where appropriate. Parts Two and Three focus on major domestic and international development problems and policies, such as economic growth, poverty and income distribution, population, migration, and urbanization. The growth experience of now-developed countries is examined, four classic theories of development are presented, and recent development models are introduced. Part One focuses on the nature and meaning of development and underdevelopment, and its various manifestations in developing nations. The text is organized into three distinct parts: Voices of the Poor boxes give students perspective on the issues faced by citizens in developing and underdeveloped nations. Views development and underdevelopment in both domestic and international contexts, stressing the increasing interdependence of the world economy.Ĭonsiders the economic, social, and institutional problems of underdevelopment as closely interrelated and requiring coordinated solutions at local, national, and international levels.Ĭountry-specific Case Studies at the end of each chapter reflect and illustrate specific problems discussed in the chapter. Recognizes the necessity of treating the problems of development and underdevelopment from institutional, structural, and market perspectives. Uses the best and most recent available data and the appropriate theoretical tools to illuminate common problems of developing countries.įocuses on a wide range of developing countries, not only as independent nation-states but also in relation to one another and in their interactions with rich nations. Teaches economic development within the context of country-specific examples so that theory is demonstrated through real-world issues.Īdopts a problem- and policy-oriented presentation to foster students’ ability to understand contemporary economic problems and to reach independent and informed conclusions. The hallmark approach, shaped by the authors’ personal experience and extensive research: Todaro and Smith take a policy-oriented approach, presenting economic theory in the context of critical policy debates and country-specific case studies so students see how theory relates to the problems and prospects of developing countries. FeaturesĮconomic Development is the leading textbook in this field, providing a complete and balanced introduction to the requisite theory, the driving policy issues, and the latest research. Todaro and Smith take a policy-oriented approach, presenting economic theory in the context of critical policy debates and country-specific case studies, to show how theory relates to the problems and prospects of developing countries. Economic Development, the leading textbook in this field, provides your students with a complete and balanced introduction to the requisite theory, driving policy issues, and latest research.