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.
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.
Economic Growth, Cross-Country Income Difference, Transformation of Industrial Structure, Technological Progress
|✔ Specialist skills||Intercultural skills||Communication skills||Critical thinking skills||Practical and/or problem-solving skills|
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|
|Class 1||Introduction, -Data on Economic Growth||Understand data on economic growth.|
|Class 2||Facts on Economic Growth||Explain important 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|
To enhance effective learning, students are encouraged to spend approximately 100 minutes preparing for class and another 100 minutes reviewing class content afterwards (including assignments) for each class.
They should do so by referring to textbooks and other course material.
Acemoglu, Introduction to Modern Economic Growth 2009
All materials used in class can be found on OCW-i.
Homework assignments on data: 50%
Homework assignments on research paper: 50%
The basic knowledge covered in "IEE.B402 ： Advanced Macroeconomics" will be required.