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2019　Advanced Topics in Macroeconomics

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Academic unit or major
Graduate major in Industrial Engineering and Economics
Instructor(s)
Hori Takeo 
Class Format
Lecture     
Media-enhanced courses
Day/Period(Room No.)
Mon5-6(W9-626)  Thr5-6(W9-626)  
Group
-
Course number
IEE.B432
Credits
2
Academic year
2019
Offered quarter
3Q
Syllabus updated
2019/3/18
Lecture notes updated
-
Language used
Japanese
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Course description and aims

This course teaches the foundation of economic growth as an advanced topic of macroeconomics. The basic knowledge covered in "IEE.B402 ： Advanced Macroeconomics" will be required. This course uses various data on macroeconomics to explain important facts on economic growth such as cross-country income difference and industrial structural transformation. Several theories of economic growth are dealt with to improve understandings of empirical facts.

This course has two aims. The first is to teach knowledge about data and important facts on economic growth. The second is to teach the theories of economic growth that explain facts on economic growth.

Student learning outcomes

By the end of this course, students will
1) Aquire knowledge about data on economic growth.
2) Aquire knowledge about theories of economic growth.
3) Understand relationship between data and theories of economic growth.

Keywords

Economic Growth, Cross-Country Income Difference, Transformation of Industrial Structure, Technological Progress

Competencies that will be developed

✔ Specialist skills Intercultural skills Communication skills Critical thinking skills Practical and/or problem-solving skills

Class flow

This course uses slides to explain the basic knowledge. Complicated calculations and proofs of theorems are expained in detail using blackboard.

Course schedule/Required learning

  Course schedule Required learning
Class 1 Introduction, -Data on Economic Growth Understand data on economic growth.
Class 2 Facts on Economic Growth Explain importnat facts on economic growth.
Class 3 Implications of the Solow Model - balanced growth (1) Explain the conditions for balanced growth.
Class 4 Implications of the Solow Model - balanced growth (2) Explain the proof of the conditions for balanced growth.
Class 5 Implications of the Solow Model - Cross-Country Income Difference Explain implications of the Solow model for cross-country income difference.
Class 6 Fundamental Determinantes of Cross-Country Income Difference (1) - Theory Explain theories of fundamental cause of cross-country income difference.
Class 7 Fundamental Determinantes of Cross-Country Income Difference (2) - Empirical Studies Explain emplical studies on fundamental cause of cross-country income difference.
Class 8 Facts on Transformation of Industrial Structure Explain facts on transformation of inducstrial structure, includeing employment shares.
Class 9 A Two-Sector Growth Model Explain a two-sector growht model as a background for the theory of industirual structural transformation.
Class 10 A Theory of Demand-Induced Industrial Structural Transformation Explain the Engel curve and a demand-side theory of industrial structural transformation.
Class 11 A Theory of Supply-Side Industrial Structural Transformation Explain differences in productivity growh and a supply-side theory of industrial structural transformation.
Class 12 A Unified Model of Industrial Structural Transformation Explain a model of industrial structural transformation that unifies demand-side and supply-side theories.
Class 13 Limitations of the Existing Models of Industrial Structural Transformation Study shortcomings of the existing models of industrial structural transformation.
Class 14 Consumption Externalities and Industrial Structural Transformation Explain a model of industrial structural transformation that overcomes shortcomings of the existing models
Class 15 Optimality of Industrial Structural Transformation Explain an optimal allocation and industrial structural transformation.

Textbook(s)

Acemoglu, Introduction to Modern Economic Growth 2009

Reference books, course materials, etc.

All materials used in class can be found on OCW-i.

Assessment criteria and methods

Homework assignments on data: 50%
Homework assignments on research paper: 50%

Related courses

  • IEE.B402 ： Advanced Macroeconomics
  • IEE.B332 ： Applied Macroeconomics

Prerequisites (i.e., required knowledge, skills, courses, etc.)

The basic knowledge covered in "IEE.B402 ： Advanced Macroeconomics" will be required.

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