Summary
Is the availability and commercial use of natural resources good or bad for economic development? Some countries have become famously rich, others suffer from the resource curse. Discussing natural resources as a means of national wealth and a production factor from an institutional theoretical perspective, this microcredential critically assesses the hypothesis derived in the concept of the resource curse and develops some important criteria for a positive role of natural resources for the process of economic catch up development in less developed countries. Case studies are used to make the story even more compelling.
Competencies
Students acquire the competence to analyse the role of natural resources for economic catch-up development. They are able to critically evaluate the common hypothesis of the resource curse and develop a theory-based sound strategic economic policy concept for a positive role of natural resources for economic development.