1) Knowledge and applied knowledge. This course enables students to improve their knowledge of the causes and consequences of economic growth, and of their potential application to actual data.
2) Judgmental skills. This course will improve the judgment skills necessary to understand the effects of globalization and Government on growth necessary to put in practice the pieces of knowledge more amenable to empirical applications
3) Making judgements. The course will foster student's ability to integrate knowledge and handle complexity, and formulate judgements regarding the mechanism driving the dynamics of economic growth and
the change in standards of living.
4) Communications skill. Students will have the ability to communicate
their judgements with the help of proper definitions and by selecting suitable diagrams and charts for assessing economic growth.
5) Learning skills. Students will be stimulated to make use of critical-thinking abilities when they analyze economic growth scenarios.
Familiarity with some basic concepts of Macroeconomics and Microeconomics (Gdp, marginal productivity of a factor, returns to scale)
Course contents summary
This course employs the standard neoclassical growth model to study the determinants of economic growth. It does so by providing the tools and the occasion to coherently and practically think about such topics as: Why do growth rates differ across countries and over time? How do we measure the growth contribution of physical and human capital? Is globalization bad or good for growth? Does “big Government” hinder growth?
1. The facts of growth
2. The Solow model
3. Population growth
4. Human capital
5. Productivity growth
6. Globalization and growth
7. Government and growth
David Weil, Economic Growth, 2011
Standard classes. Also class discussions on topics of interest.
Assessment methods and criteria
Final written exam (up to 25 pts for knowledge; up to 10 pts for judgment skills)