From Poverty to Prosperity: Understanding Economic Development is a course that is provided by the prestigious University of Oxford. This course takes a close look at how poorer societies can prosper and what sort of obstacles must be conquered in order to do so. Other aspects that it will examine include the role of the government and the important social, political and economic points that can affect development; the reason why society is in need of politics that are both inclusive and centralized and the process in which such politics develop; the social keys that are needed for such development which includes the importance of narratives, norms and identities; the impact of economics on such development, including ideas about the way politics can inhibit or promote the exploitation of specialization and scale; and the external conditions surrounding development like capital flow, trade flow, and international governance rule.
This course will examine the way that economic development is influenced by all of these factors along with influencing the development of an economy and the unique paths that countries all across the globe have taken in order to achieve this. Relationships from anarchy to centralized states will be looked at, as will the relationship between centralized states and inclusive states. Growth through industrialization and urbanization will also be examined, especially in the way that the flow of labor, capital and trade can inhibit or assist that growth.