PETER Theory of the economic growth

Faculty of Economics and Administration
Spring 2009
Extent and Intensity
2/2/0. 5 credit(s). Type of Completion: graded credit.
Teacher(s)
Ing. Miroslav Hloušek, Ph.D. (lecturer)
Guaranteed by
prof. Ing. Antonín Slaný, CSc.
Faculty of Economics and Administration
Contact Person: Lydie Pravdová
Timetable
Mon 8:30–10:05 S308
  • Timetable of Seminar Groups:
PETER/1: Mon 10:15–11:50 S308, M. Hloušek
Course Enrolment Limitations
The course is only offered to the students of the study fields the course is directly associated with.
fields of study / plans the course is directly associated with
Course objectives
Main objective of the course is to provide overview of important theories of economic growth.
Seminars will be focused on practical applications (growth accountign, growth regression), programming of growth models and study of supplementary articles.
At the end of this course, students should be able to:
- measure economic growth, give overview of growth empirics
- analyze behaviour of Solow model
- evaluate relevance of Solow model how it fits the data
- understand extension of Solow model by human capital
- distinguish absolute and relative convergence (calculate speed of convergence)
- analyze behaviour of Ramsey model
- evaluate government policy in Ramsey model
- interpret behaviour of neoclassical model in open economy
- give overview of models of endogenous growth
- distinguish causes of "endogenity" - learning by doing, government investment, human capital accumulation
- analyze Romers model (increasing variety)
- understand to Aghion - Howitt model (Schumpeterian perspective)
- evaluate models of endogenous growth on data
Syllabus
  • 1. Introduction - measuring growth
  • 2. Solow model
  • 3. Solow model and growth econometrics
  • 4. Cross-country studies and human capital
  • 5. Convergence and growth regression
  • 6. Endogenous savings, the Ramsey model
  • 7. Policy in the neoclassical model
  • 8. Investment and savings in an open economy
  • 9. Models of endogenous growth: overview
  • 10. Learning by doing
  • 11. Government investments
  • 12. Human capital accumulation reconsidered
  • 13. Growth through increasing variety
  • 14. Growth through expanding quality
  • 15. Endogeneous growth and the data
Literature
  • BARRO, Robert J. and Xavier SALA I MARTÍN. Economic growth. 2nd ed. Cambridge, Mass.: MIT Press, 2004, xvi, 654. ISBN 0262025531. info
  • ROMER, David. Advanced macroeconomics. 2nd ed. Boston: McGraw-Hill, 2001, xx, 651. ISBN 0072318554. info
Assessment methods
term paper: analysis of model - answers to questions; report based on article
examination: written
Language of instruction
Czech
Further Comments
Study Materials
The course is taught annually.
Teacher's information
http://www.econ.muni.cz/~hlousek/teaching/ter.html
  • Enrolment Statistics (recent)
  • Permalink: https://is.muni.cz/course/econ/spring2009/PETER