Economic Growth
Keywords |
Classification |
Keyword |
OFICIAL |
Economics |
Instance: 2018/2019 - 1S
Cycles of Study/Courses
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
Upon completion of the course, students will be capable of:
a) defining economic growth;
b) analysing empirical data on growth and related topics;
c) describing and assessing the Harrod and Solow growth models, as well as endogenous growth theory.
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 |
120,00 |
Frequência das aulas |
42,00 |
Total: |
162,00 |
Eligibility for exams
All students enrolled in the course are allowed to write the final exam.
Calculation formula of final grade
Option 1: Students must enrol in a class to choose this option. There are 2 tests, each with a weight of 50% in the final mark. Approval requires a minimum overall mark of 9,5 valores and a minimum mark than 6,0 valores in the second test.
Option 2: Final exam.
Classification improvement
Permitted by repeating the tests (in the subsequent year) or the exam.