Macroeconomics II (advanced level)
- The course will cover the details of model building and will also survey some of the literature confronting the theory with empirical evidence.
- Understand the principles of growth model building
- Know basic neoclassical and endogenous growth models, growth “stylized facts” and puzzles, four growth paradigms.
- Know the most recent contributions and debates on growth.
- Be able to modify basic growth models.
- Be able to analyze, evaluate and estimate policy implications.
- The data and neoclassical growtha. Introduction to the growth theory b. Neoclassical growth models
- Models of endogenous technological changea. The first wave of (AK) endogenous growth models b. The second wave of endogenous (innovation-based) growth theory i. Horizontal innovations ii. Vertical innovations. The Shumpeterian model
- Evaluating growth models
- Finance and growth
- Technology transfer and cross-country convergence
- Growth, technology and inequality
- Growth and developmenta. Stages of growth b. Institutions and nonconvergence traps
- Policy lessonsa. Competition policy and growth b. Investing in education c. Liberalizing trade d. Growth in space and migration e. Redistributive institutions and innovation f. Growth and environment policy
- Interim assessment (4 module)0.2 * class tests and class participation + 0.6 * final exam + 0.2 * home assignments
- Kim, T.-Y., & Heshmati, A. (2014). Economic Growth : The New Perspectives for Theory and Policy. Berlin, Heidelberg: Springer. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=670544
- Weil, D. N. (2016). Economic Growth : International Edition (Vol. Third edition). Abingdon, Oxon: Routledge. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=nlebk&AN=1244212