Economic Development, 13th edition

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. 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 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 so students see how theory relates to the problems and prospects of developing countries.

• The hallmark approach, shaped by the authors’ personal experience and extensive research: 

  • Teaches economic development within the context of country-specific examples so that theory is demonstrated through real-world issues. 

  • Adopts a problem- and policy-oriented presentation to foster students’ ability to understand contemporary economic problems and to reach independent and informed conclusions. 

  • Uses the best and most recent available data and the appropriate theoretical tools to illuminate common problems of developing countries. 

  • Focuses 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. 

  • Recognizes the necessity of treating the problems of development and underdevelopment from institutional, structural, and market perspectives. 

  • Views development and underdevelopment in both domestic and international contexts, stressing the increasing interdependence of the world economy. 

  • Considers the economic, social, and institutional problems of underdevelopment as closely interrelated and requiring coordinated solutions at local, national, and international levels. 

• Country-specific Case Studies at the end of each chapter reflect and illustrate specific problems discussed in the chapter. 

• Voices of the Poor boxes give students perspective on the issues faced by citizens in developing and underdeveloped nations. 

• The text is organized into three distinct parts: 

  • Part One focuses on the nature and meaning of development and underdevelopment, and its various manifestations in developing nations. The growth experience of now-developed countries is examined, four classic theories of development are presented, and recent development models are introduced. 

  • 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 book concludes with the authors’ look ahead at key emerging issues in economic development. 

• Coverage of topics is structured to allow instructors to adapt lecture topics based on their individual course. 

• Essential principles of economics relevant to understanding development problems are highlighted in boldface and are explained in detail where appropriate. 

• The material is sufficiently broad in scope and rigorous in coverage to be used in any undergraduate and some graduate development economics courses.

New to this edition

• Policy boxes: A new and quick look at the latest emerging trends in economic policy.

• Climate change: An in-depth look at policy ramifications of climate change  

New to this edition