Module: III- Development Economics
Name of course: Economic Growth
Course instructor: Barbara Annicchiarico, Lecturer in Economics, University of Rome “Tor Vergata”
E-mail:
Office Hours: By appointment
Course description
Summary of Course Content
Some facts and puzzles about growth.
The Neoclassical growth model.
Empirical applications of the Neoclassical growth model.
Introduction to endogenous growth models.
The role of technology, institutions, government policies and globalization.
Land, energy and growth.
Course Objectives
The course objectives are to introduce students to the basic and more recent ideas in growth theory, to show the usefulness of simple analytical models in understanding how the wealth of nations can be accumulated, to give students the ability to apply these analytical tools intelligently and to train students to understand and analyze past and current events about growth. Students are strongly encouraged to go through the assigned readings before each relevant lecture.
Learning Outcomes
At the end of this course and having completed the essential reading and activities students should:
-be familiar with some of the analytical tools that economists use to analyze economic growth;
-be able to understand the economic mechanisms behind growth;
-know key facts relating to growth of nations.
Duration:16hours
Exam:There will be a closed book written exam at the end of the term. Each student is also expected to write a paper on an assigned topic. Details on the assignment will be given in class.The exam will count for 60% of the final grade, the paper for 40%. I will use a 30-scale system, in accordance with the standardItalianUniversity's grading system. Please note that final grades will not be curved. It will not be possible to submit extra credit work in an attempt to raise your final grade.Please note that a grade of 30/30 represents achievement that is outstanding relative to the level necessary to meet course requirements
Recommended readings[1]
Articles
Barro, R.J. (1991), Economic growth in a cross-section of countries, Quarterly Journal of Economics, Vol. 106 No. 2, pp.407-443.
Cass, D. (1965), Optimum Growth in an Aggregative Model of Capital Accumulation, Review of Economic Studies, Vol. 32, pp. 233-240.
Lucas, R.E. (1988), On the Mechanics of Economic Development, Journal of Monetary Economics, Vol. 22, No. 1, pp. 3-42.
Mankiw, G. (1995), The growth of nations, Brookings Papers on Economic Activity, Vol. 26 (1995-1), 275-301.
Mankiw, G. D.Romer and D.N. Weil (1992), A contribution to the theory of economic growth, Quarterly Journal of Economics, Vol. 107 No. 2, pp.407-437 ,
Romer, P. (1986), Increasing Returns and Long Run Growth, Journal of Political Economy, Vol. 94, No. 5, pp. 1002-1037.
Romer, P. (1990), Endogenous Technological Change, Journal of Political Economy, Vol. 98, No. 5, pp. 71-102.
Solow, R.M. (1956), A Contribution to the Theory of Economic Growth, Quarterly Journal of Economics, Vol. 70, No. 1, pp. 65-94.
Swan, T.W. (1956), Economic Growth and Capital Accumulation, Economic Record, Vol. 32, pp. 334-361.
Books:
Aghion, P., and P. Howitt (2009), The Economics of Growth, MIT Press.
Aghion, P., and P. Howitt (1998), Endogenous Growth Theory, MIT Press.
Barro, R.J., and Sala-i-Martin, X. (2004), Economic Growth, MIT Press.
Jones, C.I. (1997),Introduction to Economic Growth, W. W. Norton & Company.
Weil, D. (2012), Economic Growth, Addison Wesley.
Links:
Historical Statistics by Angus Maddison
World Bank Macroeconomics and Growth Resources
World Development Indicators
The Penn World Table
Handbook of Economic Growth
1
[1]Compulsory readings will be indicated in class.