Economic Growth

Code:

1EC301

Acronym:

CE

Keywords
Classification	Keyword
OFICIAL	Economics

Instance: 2021/2022 - 1S

Active?	Yes
Responsible unit:	Agrupamento Científico de Economia
Course/CS Responsible:	Bachelor in Economics

Cycles of Study/Courses

Acronym	No. of Students	Study Plan	Curricular Years	Credits UCN	Credits ECTS	Contact hours	Total Time
LECO	324	Bologna Syllabus since 2012	3	-	6	42	162

Teaching language

Portuguese and english

Objectives

The course encompasses the discussion of the concept and measurement of economic growth; the analysis of empirical data on growth and related topics; and an in-depth discussion of the main mathematical growth models, in particular neoclassical models.

Learning outcomes and competences

Working method

Presencial

Program

CHAPTER I – INTRODUCTION. 1. Economic growth and related concepts. 2. Measuring economic growth. 3. Outline of the history of growth theory.

CHAPTER II - FROM HARROD TO THE NEOCLASSICAL MODEL. 1. Harrod. 2. The neoclassical model. 3. Brief comments on Kaldor and Pasinetti.

CHAPTER III - STYLIZED FACTS OF ECONOMIC GROWTH AND EXTENSIONS OF THE NEOCLASSICAL MODEL. 1. Solow with technical change. 2. Stylized facts of economic growth. 3. Convergence.

CHAPTER IV - ENDOGENOUS GROWTH. 1. Introduction: on the mechanism of endogenous growth. 2. Romer I. 3. Lucas. 4. Romer II. 5. Assessment and prospects of endogenous growth theory.

Mandatory literature

Figueiredo, A.M., Pessoa, A. e Silva, M.R.; Crescimento Económico, Escolar Editora, 2005
Barro, R. e Sala-i-Martin, X.; Economic Growth (2ª ed.), MIT Press, 2004
Jones, C. e Vollrath, D.; Introduction to Economic Growth , W. W. Norton, 2013

Complementary Bibliography

Harrod, R.; An Essay in Dynamic Theory, Economic Journal, vol. 49, 1939
Jones, C., Romer, P. ; The New Kaldor Facts: Ideas, Institutions, Population, and Human Capital, American Economic Journal: Macroeconomics, 2(1), 224–45, 2010
Kravis, I.; The Three Faces of the International Comparison Project, The World Bank Research Observer, vol. 1, 1986
Lucas, R.E.; On the Mechanics of Economic Development, Journal of Monetary Economics, vol. 22, 1988
Romer, P.M.; Increasing Returns and Long-Run Growth, Journal of Political Economy, vol. 94, 1986
Romer, P.M.; Endogenous Technical Change, Journal of Political Economy, vol. 98, 1990
Romer, P.M.; The Origins of Endogenous Growth, Journal of Economic Perspectives, vol. 8, 1994
Solow, R. ; A Contribution to the Theory of Economic Growth, Quarterly Journal of Economics, vol. 70, 1956
Solow, R.; Perspectives on Growth Theory, Journal of Economic Perspectives, vol. 8, 1994
Human Development Report, Nações Unidas, vários anos
World Development Report, Banco Mundial, vários anos
World Bank; Purchasing Power Parities and Real Expenditures of World Economies: 2011 International Comparison Program, 2014

Teaching methods and learning activities

Lectures are an essential part of the course but considerable time is devoted to discussions, in class, of the relevance of the various theories, as well as of empirical data.

Evaluation Type

Distributed evaluation without final exam

Assessment Components

Designation	Weight (%)
Teste	100,00
Total:	100,00

Amount of time allocated to each course unit

Designation	Time (hours)
Estudo autónomo	123,00
Frequência das aulas	39,00
Total:	162,00

Eligibility for exams

There are two options of assessment:

Option 1: Distributed assessment with 2 tests. Students must enrol in a class to choose this option. Approval requires a minimum overall mark of 9.5 and a minimum mark of 6.5 in the second test.

Option 2: Final exam.

All students enrolled in the course are allowed to write the final exam.

Calculation formula of final grade

1. Distributed assessment: 2 tests, with a weight of 50% (1st test) and 50% (2nd test) in the final mark.

2. Final exam.

Classification improvement

Permitted by repeating the tests (in the subsequent year) or the final exam.