Economic Growth Models

2019/2020

Academic Year

ENG

Instruction in English

3

ECTS credits

Author

Rozmainsky, Ivan V.

Delivered at:

Department of Economics

Course type:

Elective course

When:

4 year, 2 module

Instructor

Azarnert, Leonid V.

Course Syllabus

Abstract

This course develops the understanding of the main concepts and techniques that are in use in the research of economic growth theory. For example, Taxonomy of Economic Models, Real Business Cycles Model, Over Lapping Generations Model. Students will learn and understand some of the reasons for the differences across countries in their levels of GDP per capita and standards of living. Know the basic facts regarding the reasons and consequences for the differences in the rate of growth across the globe. Students will know the basic models of endogenous economic growth, in particular, economic growth built on endogenous human capital investment and accumulation.

Learning Objectives

• Understanding of the main concepts and techniques that are in use in the research of economic growth theory
• Learn and understand some of the reasons for the differences across countries in their levels of GDP per capita and standards of living.

Expected Learning Outcomes

• Know the basic facts regarding the reasons and consequences for the differences in the rate of growth across the globe.
• Know the basic models of endogenous economic growth, in particular, economic growth built on endogenous human capital investment and accumulation.

Course Contents

• Empirical Facts
• Taxonomy of Economic Models
• Real Business Cycles Model
• Over Lapping Generations Model (OLG)
• Mass Migration, Norms and Growth
• New Growth Theory
• Income Distribution and Human Capital Investment
• Gender Gap, Fertility and Growth
• The Role of Inequality in the Process of Development
• Quantity-Quality Trade-off in Investment in Children
• The Great Divergence in Population and Output

Assessment Elements

• In-class Participation
• Exam

Interim Assessment

• Interim assessment (2 module)
  0.7 * Exam + 0.3 * In-class Participation

Bibliography

Recommended Core Bibliography

• Peter Dorman. (2014). Macroeconomics. Springer. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.spr.sptbec.978.3.642.37441.8

Recommended Additional Bibliography

• Sibabrata Das, Alex Mourmouras, & Peter C. Rangazas. (2015). Economic Growth and Development. Springer. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.spr.sptbec.978.3.319.14265.4