Economic Growth

Code:

1EC301

Acronym:

CE

Keywords
Classification	Keyword
OFICIAL	Economics

Instance: 2015/2016 - 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

Objectives

The course mostly follows the neoclassical perspective on long-term dynamics and its main purpose is an in-depth presentation of some of the most important mathematical models of growth. Additionally, the course discusses the measurement of growth and analyzes empirical data on growth.

 

 

Learning outcomes and competences

The course is organized so as to ensure that students understand mathematical models and learn how to analyze data. Both the theoretical and the empirical dimension are essential to thoroughly understand the main questions related to economic growth. 

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. Barro on convergence.

CHAPTER IV - ENDOGENOUS GROWTH 1. Introduction. 2. Romer I. 3. Lucas. 4. Romer II and other models with endogenous technical change. 5. An assessment 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

Barro, R.; Economic Growth in a Cross Section of Countries, Quarterly Journal of Economics, vol. 106, 1991
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 focus both on the exposition of theory and on the discussion of empirical work. The SIGARRA system is used to provide students with course materials.

Evaluation Type

Distributed evaluation without final exam

Assessment Components

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

Eligibility for exams

 

Calculation formula of final grade

Distributed assessment: There are 2 tests, each of which with a weight of 50% in the final mark. Approval requires a minimum overall mark of 9,5 valores, and a mark of no less than 6 valores in the second test.