Knowledge of the theory of algorithm complexity is an absolute prerequisite for being a good designer. Given any specific problem, you could specify an infinite number of alternative algorithms to solve it. The theory of "analysis of algorithms" provides us with the knowledge of how to differentiate between algorithms that will be inherently slow (regardless of how well they are coded) and those that will be orders of magnitude faster. Dozens of excellent books exist on this subject. Every good undergraduate computer science program will offer a course on it.
Reference:
Horowitz, E. and Sahni, S., Fundamentals of Computer Algorithms, Potomac, MD: Computer Science Press, 1978.
