Reviews for Schaum's outline of theory and problems of development economics

The average rating for Schaum's outline of theory and problems of development economics based on 2 reviews is 3 stars.

Review # 1 was written on 2014-11-01 00:00:00 Robert Wheeler I have stumbled upon very few dinner table conversations around complex development issues which elegantly balance both the subjective and objective aspects of the subject matter. This book has given me a new perspective for contributing to such discussions and debates. Should the 'have-nots' be given access to free capital or should they be given jobs? Are they partners in the development process or just the beneficiaries? Why are rational people end up making irrational choices which might seem harmful for them from outside? These questions are not very easy to answer and one may get an incomplete understanding of the subject when answered only through any one lens either economics or empathy. Wydick's book has managed to balance the viewpoints in a very inclusive way. He has beautifully and critically connected the game theory to explain various real-life development issues. He uses it to explain the rationale of why and how some development traps are formed, which from outset may seem very irrational. By the end of the book, it is very hard to not see many development challenges from the view point of game theory. True to his academic spirit, the author has built the content upon the work of contemporary and classic development thinkers and practitioners. Written in a very simple language, the book has a tempo for learning from basics of game theory to the complexity of development challenges. A light and yet very intellectually stimulating read.

Review # 2 was written on 2015-03-13 00:00:00 Gary Colvard As a reader who has just completed an introductory course in Game Theory, Wydick's, Games in Economic Development, provides the much needed comfort that comes with knowing that the theoretical, often seemingly oversimplified models, that are seen in game theory are in fact replicated in the real world. The book provides numerous real world issues relating to growth and economic development that can be fitted neatly (and sometimes not so neatly) into a game theoretic structure. The book (and this is perhaps my biggest take away from it) served as a passage into seeing the world a terms of games, be it with regards to corruption, trade or politics. While my course gave me a theoretic understanding of the subject, this book allowed me to look at real world issues through the lens of game theory. And while I may forget the particular examples used in the book, this will stay with me. The book also cited many studies of other economists, sociologists and political scientists and put their findings into a game theory framework which was extremely interesting. Last, Wydick does brilliantly in writing this book since its content gradually grows in complexity; it allows the reader to get accustomed to the terms, language and structure of the models of game theory with simpler examples before moving on to the more complex, mathematical and technical examples. (A 3.5 is possibly a more accurate rating of this book)