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How development economics shapes a better world

Imagine two children born on the same day – one in London, the other in rural Malawi. By the age of 5, only the child in London is likely to have received formal education, vaccinations and adequate nutrition. What explains this stark difference? And what can economics do about it? Bhaskar Chakravorty investigates

Development schemes have boosted school attendance in countries including Brazil
© Maarten Zeehandelaar/Alamy Stock Photo

global context (development, poverty and inequality), macroeconomic policy instruments, economic growth and living standards

Unlike branches of economics that focus on efficiency or growth, development economics is concerned with the wellbeing of people, especially the most disadvantaged. It asks questions such as:

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Fiscal policy: Why do we have lower minimum wage rates for young people?

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Exam-style questions: Questions on GDP and inflation

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