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Editorial path·Economics·undergraduate·MIT

Markets, Political Institutions & Global Development

Microeconomic incentives, macro policy, institutional divergence, and RCT poverty research

Combines MIT microeconomics and macroeconomics with Nobel-winning research by Daron Acemoglu and Esther Duflo on why nations prosper or remain in poverty traps.

Start Step 16 steps · 5h total
1. Introduction and Supply & Demand
Step 1 of 6

Curriculum sequence

6
Step 1·MIT·Jonathan Gruber·14.01· 34:47

1. Introduction and Supply & Demand

Establishes price signals, market clearing, and comparative statics.

Step 2·MIT·Jonathan Gruber·14.01· 41:23

2. Preferences and Utility Functions

Formalizes household preferences, indifference curves, and utility maximization.

Step 3·MIT·Ricardo Caballero·14.02· 29:30

Lecture 1: Introduction to 14.02 Principles of Macroeconomics

Scales up to aggregate output, business cycles, and stabilization policy.

Step 4·MIT·Daron Acemoglu· 1:10:50

Why Nations Fail: The Origins of Power, Prosperity, and Poverty

Demonstrates how inclusive vs. extractive institutions shape long-run national wealth.

Step 5·MIT·Esther Duflo & Abhijit Banerjee·14.73· 1:23:50

2. What is a Poverty Trap?

Models S-shaped capacity curves in nutrition, health, and credit that create poverty traps.

Step 6·MIT·Esther Duflo· 35:00

Field Experiments and the Fight Against Global Poverty (Nobel Lecture)

Applies randomized field trials to test concrete anti-poverty interventions at scale.