BSc Economics

Year of entry: 2022

Course unit details:
Topics in Economic Growth

Course unit fact file
Unit code ECON32221
Credit rating 20
Unit level Level 3
Teaching period(s) Semester 1
Offered by School of Social Sciences
Available as a free choice unit? No

Pre/co-requisites

Unit title Unit code Requirement type Description
Advanced Mathematics ECON10071 Pre-Requisite Compulsory
Principles of Microeconomic Theory 1: Consumers, Welfare, Production and Costs ECON10171 Pre-Requisite Compulsory
Macroeconomic Analysis 1 ECON10181 Pre-Requisite Compulsory
Microeconomics 1 ECON10221 Pre-Requisite Compulsory
Macroeconomics 1 ECON10241 Pre-Requisite Compulsory
Macroeconomics 1 ECON10252 Pre-Requisite Compulsory
Microeconomics 1 ECON10331 Pre-Requisite Compulsory

ECON10071 Advanced Mathematics

AND

(ECON10171 Principles of Microeconomic Theory 1 OR ECON10221 Microeconomics OR ECON10331 Microeconomics 1)

AND

(ECON10181 Macroeconomic Analysis 1 OR ECON10241 Macroeconomics 1 OR ECON10252 Macroeconomics 1)
 

Aims

  • Provide an overview of the process of development in the long run
  • Discuss the role of society in an economy’s growth process
  •  Provide an overview of the most important theories of economic growth, their empirical evaluation, and their implications

Syllabus

  • Introduction: economic growth in the long run
  • Savings, capital, and convergence: the Solow model
  • Innovations and ideas: endogenous growth theory (Romer, Schumpeter)
  • The Malthusian hypothesis and the demographic transition
  • From stagnation to growth: unified growth theory (Galor)
  • The role of culture, institutions, and geography 

Teaching and learning methods

New content will be delivered to students asynchronously (readings) as well as synchronously through lectures. The virtual learning environment (VLE) will clearly guide students through the different sources of content.

Students’ learning will be supported by offering regular tutorials in smaller groups. In these tutorials students will be given the opportunity to work on problems and discuss applied cases with their peers and teaching staff as well as practice their presentation skills.

Tutorials are an important source of formative feedback for students as they will be able to assess their state of understanding of the material through engagement in tutorials. In addition, students will be able to use a discussion board in which they can test their understanding as well as ask questions to their peers and the teaching staff.

In addition to these formative feedback opportunities, the in-term assessments (see below) will provide summative and formative feedback to students.
 

Knowledge and understanding

  • Understand the theory and empirics of economic growth and development
  • Understand the determinants of economic growth and development

Intellectual skills

  • Critically evaluate applied work and policies in the field of economic growth and development.
  • Understand limitations of the economic growth and development literature

Practical skills

  • Independently identify and assess relevant literature

Transferable skills and personal qualities

  • Communicate questions, methods and results from the economic growth and development to an economic but also to a non-specialist audience
     

Assessment methods

Coursework 1 (25%)

Coursework 2 (25%)

Final Exam (50%)

Recommended reading

Primary readings for the course are the following: 

Charles I. Jones and Dietrich Vollrath. Introduction to Economic Growth. W. W. Norton & Company.
    Chapters 2, 3, 4
Oded Galor. The Journey of Humanity: The Origins of Wealth and Inequality. Bodley Head.

Additional readings on specialised topics and empirical case studies are made available each week via the online learning platform. 
 

Additional notes

Synchronous activities (such as Lectures or Review and Q&A sessions, and tutorials), and guided self-study.

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