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Economic Growth

  • Teacher(s):   T.Rotesi   B.Bonadio  
  • Course given in: English
  • ECTS Credits: 6 credits
  • Schedule: Spring Semester 2021-2022, 4.0h. course (weekly average)
  •  sessions
  • site web du cours course website
  • Related programme: Master of Science (MSc) in Economics
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Objectives

The aim of this course is to understand the key features of the growth and development process at the world level, both theoretically and empirically. The first part of the course will introduce a number of theoretical models to develop an analytical framework of economic growth in historical perspective and across countries. In the second part we will study empirically the fundamental sources of the vast income and growth differences across countries.

a) Goals of the first part of the Course [“Theory”]

- Get to know the facts of economic growth across countries and time

- Provide a rigorous theoretical framework to think about economic growth and development, including the study of

i) economic growth over the the long-run, and the transition of economies from stagnation to per capita income growth

ii) neoclassical growth theories and the contribution of different factors to economic growth and development

iii) endogenous growth theories that explain where technological progress comes from

b) Goals of the second part of the Course [“Topics”]

- Cover important topics at the frontier of current research to identify the sources of growth and development.

- Introduction to current empirical methods in applied economics.

The principal instructors are Dr Barthélémy Bonadio [barthelemy.bonadio@unil.ch] and Dr Tiziano Rotesi [tiziano.rotesi@unil.ch].

The TA for the course is Andrea Berlanda [andrea.berlanda@unil.ch].

The presentation material is downloadable from the Moodle website of the course. The reading list for the second part of the course including the compulsory reading and the list of papers for the referee reports will be distributed after week 4. The exact format of the reports (i.e. topics) will also be explained after week 4.

Please find the link for the MOODLE page here:
https://moodle.unil.ch/course/view.php?id=23309

Meetings: We will meet on Thursday, 14.15 – 18.00.

Contents

I. Theory

Session 1, February 24 (Barthélémy)

- Introduction, Stylized Facts on Macro Development

- Stages of Growth: Malthusian Model

Session 2, March 3 (Barthélémy)

- Unified Growth Theory

- The main components of UGT

Session 3, March 10 (Barthélémy)

- Dynamic system and comparative development according to UGT

- Exercise Session for UGT

Session 4, March 17 (Barthélémy)

- Neoclassical Growth Theory

Session 5, March 24 (Barthélémy)

- Endogenous Growth: AK Model, Romer Model, Schumpeterian Growth

- Exercise Session and Q&A Mid-Term

Session 6, March 31: Mid-Term Exam (Barthélémy)

II. Topics

The reading list and the papers for the referee reports will be distributed after week 4.

Session 7, April 7: Human Capital and Innovation (Barthélémy)

Session 8, April 14: Institutions (Tiziano)

Session 9, April 28: Culture (Tiziano)

Session 10, May 5: Geography & Natural Resources (Tiziano)

Session 11, May 12: Trade and Migration (Tiziano)

Session 12, May 19: Inequality and Poverty (Tiziano)

Session 13, May 26: Conflict and War (Tiziano)

Session 14, June 2: Environment (Tiziano)

References

PART I : Theory

- Galor, 2011, Unified Growth Theory

- Aghion & Howitt, 2009, The Economics of Growth

- Jones & Vollrath, 2013, Introduction to Economic Growth (Third Edition)

- Romer, 2011, Advanced Macroeconomics

PART II : Topics

The list of papers for the referee reports will be distributed after week 4.

Evaluation

First attempt

Exam:
Written 2h00 hours
Documentation:
Not allowed
Calculator:
Allowed
Evaluation:

- Midterm exam: 30%. The midterm exam will cover the theoretical models studied in the first part of the course.

-Referee report: 30%. Indicative length is 3 to 4 pages, in which the student will summarize a paper of choice (chosen from a list that we will distribute in week 4, together with more detailed instructions), comment the analysis and suggest possible ways to expand the research. Deadline: June 1st.

-Final exam: 40%. The final exam will cover the second part of the course.

Retake

Exam:
Written 2h00 hours
Documentation:
Not allowed
Calculator:
Allowed
Evaluation:

The make-up exam (both theoretical and empirical parts) stands alone: the previous results (midterm / referee report / final exam) will not be taken into account. Documentation will not be allowed in all exams.



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