Units / ECF3800
ECF3800 · The wealth and poverty of nations
2026 Handbook6 credit pointsLevel 3Department of Economics
Last checked: 23 Aug 2026 UTCOverview
Why are some countries so much richer, and why have some countries developed so much faster than others? This course investigates those questions, with a focus on emerging economies, both recent and in the past. We will seek to understand (i) proximate causes of development related to the organization of production in industries, firms, and financial markets, and then (ii) more profound causes associated with a country’s geography, history, culture, religion, and political, legal, and administrative institutions, while using (iii) macroeconomic and empirical tools applied to a variety of datasets, from corporate Big Data to archaeological and historical sources. You will learn to critically assess theories and hypotheses of economic development, and analyse their corresponding economic policies and business strategies.
Offerings
| Campus | Teaching period | Mode |
|---|---|---|
| Caulfield | Second semester | Teaching activities are on-campus (ON-CAMPUS) |
Assessment
The Handbook lists an examination for this unit.
| # | Assessment | Type | Weight | Hurdle |
|---|---|---|---|---|
| 1 | 1 - Demonstration | Demonstration | 20% | — |
| 2 | 2 - Quiz / Test | Quiz / Test | 20% | — |
| 3 | 3 - Project | Project | 20% | — |
| 4 | 4 - Examination | Examination | 40% | — |
Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.
Requisites
prohibitions
- ECC2511 — Economic growth: Causes and consequences
prerequisite
- ECB1101 — Introductory microeconomics
- ECC1000 — Principles of microeconomics
- ECF1100 — Microeconomics
- ECW1101 — Introductory microeconomics
Joined by OR.
- ETB1100 — Business statistics
- ETC1000 — Business and economic statistics
- ETF1100 — Business statistics
- ETW1100 — Introduction to business analytics
- ETX1100 — Business statistics
- FIT1006 — Business information analysis
- SCI1020 — Introduction to statistical reasoning
- STA1010 — Statistical methods for science
Joined by OR.
Learning outcomes
- understand the proximate causes of development, such as labor, technology, and finance, including their theoretical and empirical role in shaping economic development
- understand the profound causes of development, especially regarding geography, culture, and institutions
- develop the capacity to critically assess statements on long-run economic growth, on both theoretical and empirical grounds
- develop familiarity with economic policies that can potentially help or hurt long-term development.
Workload
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.
| Activity | Duration |
|---|---|
| Workshops | 24 hours |
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