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2021　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.)
Mon1-2()  Thr1-2()  
Group
-
Course number
IEE.B432
Credits
2
Academic year
2021
Offered quarter
3Q
Syllabus updated
2021/3/19
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, 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 important facts on economic growth.
Class 3 Uzawa's Theorem (1) Explain the conditions for balanced growth.
Class 4 Uzawa's Theorem (2) Explain the conditions for balanced growth.
Class 5 Growth Accounting Explain growth accounting.
Class 6 Income Inequality Do a simply calibration exercise.
Class 7 Empirical Studies on Cross-Country Income Difference Learn empirical studies on cross-country income difference. Explain empirical studies on fundamental cause of cross-country income difference.
Class 8 Technological Progress (1) - Introduction Explain the basic structure of a technological progress model.
Class 9 Technological Progress (2) - Household and Firms Explain household and firm behavior.
Class 10 Technological Progress (4) - R&D sector Explain R&D sector.
Class 11 Technological Progress (5) - Equilibrium Dynamics Explain equilibrium dynamics.
Class 12 Technological Progress (6) - Optimal Allocation Derive the optimal allocation.
Class 13 Technological Progress (7) - Optimal Policy Derive the optimal policy.
Class 14 Summary Summary

Out-of-Class Study Time (Preparation and Review)

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.

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%
Final exam: 50%

Related courses

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