Preface

Never have a simple conversation about something complicated. Understand the complication, don’t simplify the problem.

Economic development is complicated. As complicated a problem as nuclear fusion, getting a human to mars or curing cancer. Humankind has tended to under-estimate the problem and broken the problem down into simple chunks. It is reassuring to cast the problem into bits that makes intuitive sense to us. This is the objective of this lecture series is to expose you to the complication, warts and all. You may not find the solution of economic development at the end of this course, but I think you are going to understand the problem better. If you do understand the problem better, hopefully one of your one day will find a solution to the most profound problem humankind has ever faced, one of impoverishment and deprivation. A problem even more stark given the lush and hospitable environment we as humans have the privilege to live in.

Lecture Notes for Construction and Economic Development Course taught at UCL.

The course uses the neo-classical and endogenous growth theory framework and to examine the role infrastructure can play in engendering economic development.