LEWIS FEI RANIS MODEL (SURPLUS LABOUR THEORY)And Harris Todaro Model Of Migration
UNIVERSITY OF NIGERIA, NSUKKA FACULTY OF SOCIAL SCIENCE • DEPARTMENT OF ECONOMICS TOPIC: LEWIS FEI RANIS MODEL (SURPLUS LABOUR THEORY)And Harris Todaro Model Of Migration AN ASSIGNMENT WRITTEN IN THE PARTIAL FUFUILMENT OF THE COURSE: ECO 361 (DEVELOPMENT ECONOMICS) BY OKO NKEM FRANKLINE. 2017/243813 LECTURER; DR. Tony Orji MARCH, 2021 Introduction Lewis Fei Ranks model (surplus labour) is a dualism model in developmental economics or welfare economics that has been developed by John C. H. Fei and Gustav Ranis and can be understood as an extension of the Lewis model. It is also known as the Surplus Labor model.It recognizes the presence of a dual economy comprising both the modern and the primitive sector and takes the economic situation of unemployment and underemployment of resources into account, unlike many other growth models that consider underdeveloped countries to be homogenous in nature. Basics of the model/Main Argu