This TMA is designed to help you explore the material covered in Units 1 and 2 and give you practice in using the ideas presented there.
You should answer all of the questions in the TMA and should aim to write a total of between 3000 and 4000 words for the whole TMA.
The first two questions require relatively short answers and are there to test your understanding of basic concepts. Your answers can be in note form and should not involve extensive discussion.
Questions 3 and 4, by contrast, are essay-style questions that require you to think more critically and to structure your answers carefully. There are no 'right' or 'wrong' answers to these questions, but your responses should be based upon coherent arguments and should draw upon the key themes covered by the first two units of this module.
- Explain the following terms and how they relate to each other.
- economic growth
- economic development
- sustainable development
- human development
- Distinguish between the following sets of terms, explaining their meaning and use in economics.
- 'partial equilibrium' versus 'general equilibrium'
- 'a movement along a supply or demand curve' versus 'a shift in a supply or demand curve'
- 'positive economics' versus 'normative economics'
- 'income elasticity' versus 'price elasticity'
- 'elastic demand' versus 'inelastic demand'
- 'The livelihood outcomes of poor people depend upon co-ordination and institutions at different levels of social organisation'. Discuss critically what is meant by this statement, giving examples.
- Critically evaluate the contribution that different schools of economics can make to the study of poverty and development.
When you have completed TMA 1, please submit it to CeDEP as soon as possible.
Do not forget to keep a copy of your answers.