The course aims at analyzing the properties of the economic development characterizing the world economy in the last two centuries and at discussing the main theories explaining such development and its long-run trend. In particular, we will expose the “classical” theories of development (Malthus and Ricardo), the Keynesian theory (Domar and Harrod), the neoclassical synthesis (Solow) and the recent theories which emphasize the role of accumulation of human capital and technological progress. Particular attention will be payed to poverty and inequality in the distribution of income and wealth, both within the individual economies and across world population. In this framework it will be analyzed the issue of convergence across different economies and the possible existence of poverty traps.