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Macroeconomics II (advanced level)

2018/2019
Учебный год
ENG
Обучение ведется на английском языке
4
Кредиты
Статус:
Курс по выбору
Когда читается:
1-й курс, 4 модуль

Course Syllabus

Abstract

Macroeconomics is the study of economic growth and business cycles. This Macroeconomics II course is the second in graduate Macroeconomics courses sequence and is devoted to the study of economic growth. To bring a student to date on the frontiers of the subject, the course introduces all the major growth paradigms (neoclassical, AK, product-variety, and Schumpeterian), with a focus on innovation-based, or “Schumpeterian” growth theory, and then shows how these paradigms can be used to analyze various aspects of the growth process and to think about the design of growth policy.
Learning Objectives

Learning Objectives

  • The course will cover the details of model building and will also survey some of the literature confronting the theory with empirical evidence.
Expected Learning Outcomes

Expected Learning Outcomes

  • 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.
Course Contents

Course Contents

  • The data and neoclassical growth
    a. Introduction to the growth theory b. Neoclassical growth models
  • Models of endogenous technological change
    a. 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 development
    a. Stages of growth b. Institutions and nonconvergence traps
  • Policy lessons
    a. 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
Assessment Elements

Assessment Elements

  • non-blocking class tests and class participation
  • non-blocking home assignments
  • non-blocking final exam
Interim Assessment

Interim Assessment

  • Interim assessment (4 module)
    0.2 * class tests and class participation + 0.6 * final exam + 0.2 * home assignments
Bibliography

Bibliography

Recommended Core Bibliography

  • 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

Recommended Additional Bibliography

  • 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