Teacher(s)
Language
English
Main themes
The course is organized in seven main themes, with an application, a specific topic or tool for each theme.
1. Growth and development : a millenial perspective. Special topic : The demographic transition
2. Stylized facts of modern economic growth, and growth accounting. Special topic: The productivity slowdown puzzle.
3. The Solow-Swan neoclassical model. Application: Analyzing the consequences of AIDS crisis in Africa with the Solow-Swan model.
4. Optimal growth. Special tool: Phase diagrams for the analysis the dynamic consequences of economic policy.
5. Endogenous growth theory: the AK model. Special topic: The Jones-McGrattan controversy.
6. Endogenous growth: Human capital and public expenditures.
7. Endogenous growth: Technological progress. Special topic: IT resolution and the Solow paradox.
Learning outcomes
At the end of this learning unit, the student is able to : | |
| 1 | This course introduces to the essential historical, empirical and theoretical features of economic growth and development. Several applications will be provided along the way to illustrate the theories developed (see be-low). |
Content
General Presentation
The objective of the course is to give the students an overview of the literature and the intellectual debate related to economic growth and long-run macroeconomics.
After discussing some key stylized facts about economic growth and development, we will identify the most important questions addressed by growth economists over the last few decades. We will then review the main neoclassical theories of growth, as well as the most recent developments in the fields of comparative development and Unified Growth Theory. To do this, we will rely on both continuous- and discrete-time analysis. Finally, we will discuss some of the most debated growth-related issues, as well as the newest perspectives of the literature.
Plan
The course, which touches on questions related to disciplines as diverse as history, geography and demography, will be structured as follows.
1 Introduction to economic growth: basic facts and key questions.
2 “Neoclassical” theories of growth (from Solow to endogenous growth).
3 Unified Growth Theory and Comparative development: the role of history and geography.
4 The importance of demography: endogenous fertility, and the family.
5 Debates and advanced topics.
The objective of the course is to give the students an overview of the literature and the intellectual debate related to economic growth and long-run macroeconomics.
After discussing some key stylized facts about economic growth and development, we will identify the most important questions addressed by growth economists over the last few decades. We will then review the main neoclassical theories of growth, as well as the most recent developments in the fields of comparative development and Unified Growth Theory. To do this, we will rely on both continuous- and discrete-time analysis. Finally, we will discuss some of the most debated growth-related issues, as well as the newest perspectives of the literature.
Plan
The course, which touches on questions related to disciplines as diverse as history, geography and demography, will be structured as follows.
1 Introduction to economic growth: basic facts and key questions.
2 “Neoclassical” theories of growth (from Solow to endogenous growth).
3 Unified Growth Theory and Comparative development: the role of history and geography.
4 The importance of demography: endogenous fertility, and the family.
5 Debates and advanced topics.
Teaching methods
Lectures and presentation of selected research papers.
Evaluation methods
Written or oral exam.
Other information
There is no “official” prerequisite. However, students should have completed a Macro course
and feel comfortable using mathematical tools.
and feel comfortable using mathematical tools.
Online resources
On Moodle.
Bibliography
No book is strictly required. Some material will be taken from:
- Acemoglu, D. (2009): Introduction to Modern Economic Growth, Princeton University Press, Princeton, NJ.
- Barro, R.J. and X. Sala-i-Martin (2004): Economic Growth, MIT Press, Cambridge, Ma.
- Galor, O. (2023): The Journey of Humanity, Penguin, London, UK.
Further readings (research papers, etc.) will be provided during the course, and made available on Moodle.
- Acemoglu, D. (2009): Introduction to Modern Economic Growth, Princeton University Press, Princeton, NJ.
- Barro, R.J. and X. Sala-i-Martin (2004): Economic Growth, MIT Press, Cambridge, Ma.
- Galor, O. (2023): The Journey of Humanity, Penguin, London, UK.
Further readings (research papers, etc.) will be provided during the course, and made available on Moodle.
Faculty or entity
