This programme explores the successes and limitations of microfinance as an economic development strategy. The focus will be on the role of microfinance in international poverty alleviation efforts. We will explore the history and evolution of the field from both theoretical and practical perspectives, while the roles played by various constituencies (e.g., clients, policy makers, donors, investors, etc.) will be examined; emphasis will be on the perspective of practitioners and the challenges of managing a (double bottom line) institution.

Students in this course will be exposed to how microfinance institutions provide financial services to the poor. Financial services include credit, savings, and insurance. This course explores the role of microfinance in economic development. It will discuss how poor people in poor countries use financial services, such as credit and savings; the history and practice of delivering such services; what is known about their contribution to development; and how stories and statistical studies shape public perceptions of microfinance.The definition of who is poor varies by country and region, but largely includes those who work within the informal economy in developing countries. This course introduces students to the practices of microfinance institutions in a variety of developing countries, including: India, Mexico, Bolivia, Samoa, and Haiti.It defines the wide variety of practices and governance structure of these organisations, and the issues they confront. The course focuses on two major issues: impacts of microfinance on the well-being of clients, and the problems confronting managers of microfinance institutions.