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MSc Economics

Year of entry: 2020

Course unit details:
Economic Growth

Unit code ECON60662
Credit rating 15
Unit level FHEQ level 7 – master's degree or fourth year of an integrated master's degree
Teaching period(s) Semester 2
Offered by Economics
Available as a free choice unit? Yes

Aims

The aim of this course is to provide an advanced treatment of the main issues, concepts and techniques in modern growth theory.

Learning outcomes

At the end of this course students should be able to

(i) understand and critically evaluate alternative theories of growth;

(ii) develop models of their own from which to derive original results.

Syllabus

Exogenous Growth Models

Barro and Sala-i-Martin: Chs. 1,2.

Cass, D., 1965. Optimum growth in an aggregative model of capital accumulation. Review of Economic Studies, 32, 235-240.

King, R.G. and S.T. Rebelo, 1993. Transitional dynamics and economic growth in the neo-classical growth model. American Economic Review, 83, 908-931.

Ramsey, F., 1928. A mathematical theory of savings. Economic Journal, 38, 543-559.

Solow, R.M., 1956. A contribution to the theory of economic growth. Quarterly Journal of Economics, 70, 65-94.

Swan, T.W., 1956. Economic growth and capital accumulation. Economic Record, 32, 334-361.

Endogenous Growth Models I: Physical Capital Accumulation

Barro and Sala-i-Martin: Ch. 4.

Barro, R.G., 1990. Government spending in a simple model of endogenous growth. Journal of Political Economy, 98, 103-125.

Barro, R.G. and X. Sala-i-Martin, 1992. Public finance in models of economic growth. Review of Economic Studies, 59, 645-661.

Jones, L.E. and R.E. Manuelli, 1990. A convex model of equilibrium growth: theory and policy implications. Journal of Political Economy, 98, 1008-1038.

Romer, P.M., 1986. Increasing returns and long-run growth. Journal of Political Economy, 94, 1002-1037.

Endogenous Growth Models II: Human Capital Accumulation

Barro and Sala-i-Martin: Chs. 6,7.

King, R.G. and S.T. Rebelo, 1990. Public policy and economic growth: developing neo-classical implications. Journal of Political Economy, 98, 126-150.

Lucas, R.E., 1988. On the mechanics of economic development. Journal of Monetary Economics, 22, 3-42.

Mulligan, C.B. and X. Sala-i-Martin, 1993. Transitional dynamics in two sector models of endogenous growth. Quarterly Journal of Economics, 108, 737-773.

Rebelo, S.T., 1991. Long-run policy analysis and long-run growth. Journal of Political Economy, 99, 500-521.

Uzawa, H., 1965. Optimal technical change in an aggregative model of economic growth. International Economic Review, 6, 18-31.

Endogenous Growth Models III: Research and Development

Barro and Sala-i-Martin: Chs. 8,9.

Grossman, G.M. and E. Helpman, 1989. Product development and international trade. Journal of Political Economy, 97, 1261-1283.

Grossman, G.M. and E. Helpman, 1991. Quality ladders in the theory of growth. Review of Economic Studies, 58, 557-586.

Rivera-Batiz, C.A. and P.M. Romer, 1991. Economic integration and endogenous technological change. Quarterly Journal of Economics, 106, 551-555.

Rivera-Batiz, C.A. and P.M. Romer, 1991. International trade with endogenous technological change. European Economic Review, 35, 971-1004.

Romer, P.M., 1987. Growth based on increasing returns due to specialisation. American Economic Review, 77, 56-62.

Growth and Income Distribution

Aghion, P. and P. Bolton, 1997. A theory of trickle-down growth and development. Review of Economic Studies, 64, 151-172.

Alesina, A. and D. Rodrik, 1994. Distributive policies and economic growth. Quarterly Journal of Economics, 109, 465 - 490.

Banerjee, A.V. and A.F. Newman, 1993. Occupational choice and the process of development. Journal of Political Economy, 101, 274-298.

Galor, O. and J. Zeira, 1993. Income distribution and macroeconomics. Review of Economic Studies, 60, 35 - 52.

Gloom, G. and B. Ranikumar, 1992. Public versus private investment in human capital: endogenous groth and income inequality. Journal of Political Economy, 100, 818 - 834.

Perotti, R., 1993. Political equilibrium, income distribution and growth. Review of Economic Studies, 60, 4, October, 75

Teaching and learning methods

Lectures and tutorials

Assessment methods

Method Weight
Other 25%
Written exam 75%

25% Mid term test

Recommended reading

Basic text:        Barro, R.J. and X. Sala-i-Martin, 1995. Economic Growth, McGraw-Hill.

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Study hours

Scheduled activity hours
Lectures 20
Tutorials 2
Independent study hours
Independent study 128

Teaching staff

Staff member Role
Mohammad Haque Unit coordinator

Additional notes

Information

Students must have taken Econ60111/ECON60411  Econ60081/ECON60811

Timetable

Lecture - Thursday 2-4pm,

Tutorial - Monday 2-3pm.

 

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