Economic Growth

Recommended Prerequisites

 Intermediate Macroeconomics; English knowledge.   

Teaching Methods

Lectures and Tutorials

Tutorials are organized in accordance to the assessment regime of economic growth and the tasks performed by the students are the following:

To solve exercises on the blackboard (individual work – two exercises)

Oral presentation and discussion of a written report based on growth papers of a specific growth (individual work)

To handle homework exercises (individual work)

To comment and discuss the presentation and written report of another student based on growth papers on a different growth subject (individual work).  

Learning Outcomes

Overall objectives

To explain growth patterns between and within countries

To understand the influence of public growth policies

Specific objectives

To identify growth factors and transmission mechanisms

To study steady state solutions and transitional dynamics 

To identify and to quantitatively assess the main policy predictions

To identify different methodologies of empirical analysis

To know international growth datasets and to implement quantitative growth descriptions

Generic competencies

To know how to read, communicate and argue about growth subjects

To know how to search for growth datasets and to build samples

Specific competencies

To be able to test growth stylized facts and long-run relationships with GRETL program

To be able to solve problems based on growth models

To know how to write, present, comment and discuss a synthesis report based on several scientific papers.

  

Work Placement(s)

No

Syllabus

1 – Introduction

1.1 The importance of economic growth

1.2 Growth factors

1.3 Empirical regularities

2 – Exogenous Growth

2.1 Solow growth model

2.2 Mankiw Romer e Weil growth model

2.3 Ramsey Cass e Koopmans growth model

3 – Endogenous Gowth

3.1 Ideas

3.2 The first-generation growth models

3.3 The second-generation growth models

4 – Growth with technological diffusion

4.1 Technological convergence mechanism

4.2 Growth model with technological diffusion

4.3 Channels of international diffusion and domestic absorptive capacity

5 – Empirical analysis of economic growth

5.1 Beta convergence regressions

5.2 Ad-hoc growth regressions

5.3 Growth accounting and growth accounting regression.  

Head Lecturer(s)

Maria Adelaide Pedrosa Silva Duarte

Assessment Methods

Assessment
Periodic or by final exam as given in the course information: 100.0%

Bibliography

BARRO, Robert J. ; SALA-I-MARTIN, Xavier - Economic growth. 2nd ed.. Cambridge, Mass : MIT Press, 2004.

CHIANG, Alpha C. - Elements of dynamic optimization. New York : McGraw-Hill, 1992.

CHIANG, Alpha C. ; WAINWRIGHT, Kevin - Fundamental methods of mathematical economics. 4th ed.. Boston : McGraw-Hill, 2005.

GALOR, Oded - Unified growth theory. Princeton : Princeton University Press, 2011.

PIKETTY, Thomas – Capital in the twenty-first century. Trad. GoldhammeR, Arthur.  1^st ed. Harvard: Harvard University Press, 2014.

OCDE - Economic policy reforms 2015: going for growth. Paris : OECD, 2015.

ROGERS, Mark - Knowledge, technological catch-up and economic growth. Cheltenham : Edward Elgar, 2004.

ECONOMIC growth in Europe : a comparative industry perspective. Marcel P. Timmer [et al.]. Cambridge : Cambridge University Press, 2010.

WEIL, David N. - Economic growth. 3rd ed.. Boston : Pearson/Addison Wesley, 2013.

AGHION, Philippe; HOWITT, Peter – The economics of growth. 1^st ed. Massuchusetts: MIT Press, 2009.