Economic Growth (E453a and E453b)

Lecture

Eligible candidates Master  
Time and place Friday 08:30-10:00; from April 26 on, Room: OSA Keplerstr. 2, Hörsaal 001

The programm
(eligible topics) is soon available here.

Credits

Depending on the course version (6 in E453a; 9 in E453b)

 
Examination requirements written exam and assignments  
Comments

- tutorial will take place on Fridays, 12:15-13:45

- slides are provided through ILIAS

 
Complementary
courses
- E551 Master Seminar on Resources, Innovation and Growth (9 ECTS, with presentation and term paper)  
Registration Only for E453b (see below).  

Course Versions

This course can be taken in two different versions.

The version E453a consists only of the lecture. Students may visit the lecture and the tutorial (no compulsory attendance) and have to hand in the four obligatory assignments (in groups). The number of ECTS in this version amounts to 6. There is no application procedure for E453a.

The version E453b additionally includes a colloquium (obligatory attendance). Students may visit the lecture and the tutorial (no compulsory attendance); they have to hand in (in groups) the four obligatory assignments, to visit each session of the colloquium and hold a presentation on one (or many) paper(s) in the colloquium. The number of ECTS in this version amounts to 9. There is an online registration procedure for E453b (see below).

Colloquium and registration procedure in E450b

The colloquium sessions will take place on Fridays, from 10:15-11:45 in the same room as the lecture. Information about the topics will be given in the Economic Growth lecture.

There will be an online registration via ILIAS, starting on April 26, and ending on April 29, 12:00h.  Places and topics are allocated on a first-come first-serve basis. The dates of the colloquium sessions will be announced in the lecture.

Presentations are limited to 15 minutes so that some time is left for discussion. If you wish to, you may hold the presentation as a two-persons group. Criteria for grading are (i) self-dependence in preparing the presentation, (ii) clarity and persuasiveness of the presentation, and (iii) taking an active part in the lecture and colloquium.

Contents

1. Economic Growth: An Introduction

2. Preliminaries

2.1 Technologies and Production Functions

2.2 Preferences and Utility Functions

2.3 Dynamic Optimization

2.4 Differential Equations

3. Neoclassical Growth Theory

3.1 Capital Accumulation

3.2 Fertility and Population Dynamics

3.3 Exhaustible and Renewable Natural Resources

3.4 Technological Progress

4. Endogenous (“New“) Growth Theory

4.1 Unlimited Capital Accumulation

4.2 Public Infrastructure Services

4.3 Education and Human Capital

4.4 Environmental Pollution and Climate Change

5. Schumpeterian Growth Theory

5.1 Quality Ladders and R&D-based Growth

5.2 Capital, Technological Intermediates and Growth

5.3 Education, Innovation and Scale-invariant Growth

5.4 International Trade and R&D-based Growth

6. Epilogue: Does Growth Make Us Happy?

Basic text books for the lecture

Aghion, P., Howitt, P. (2009), The Economics of Growth Theory. Cambridge, MA.

Barro, R.J., Sala-i-Martin, X. (2003), Economic Growth, 2nd ed., New York.

Grossman, G.M., Helpman, E. (1991), Innovation and Growth in the Global Economy. Cambridge, MA.

Tietenberg, T., Lewis, L. (2009), Environment and Natural Resource Economics, 9th ed., Boston.

Perman, R., Ma, Y., Common, M., Maddison, D. McGilvray, J. (2011), Natural Resource and Environmental Economics, 4th ed., Harlow.

Weil, D.N. (2013), Economic Growth, 3rd ed., Boston.