The objective of this course is the discussion of different factors conditioning economic growth in modern economies, as well that the interaction of the growth processes with other economic, social and natural phenomena. The course will start with empirical observations and stylized facts characterizing the world-wide growth process, and confront main growth theories in their ability to explain these facts. After having discussed the canonical Solow growth model and its main extensions, we will consider endogenous growth models that have been developed in the literature after the 80s. These models will allow us to discuss important economic and natural phenomena that are interconnected with economic growth: technological innovations; evolution of economic inequalities; role of institutional setups and democracy; environmental aspects of economic growth.
The course assumes that the students have a basic understanding of the macroeconomic and microeconomic theories, and of main economic concepts. Even if the course will not insist at all on the mathematical aspects of the growth theories, some understanding of the basic calculus concepts would help the students.
Synopsis of the course:
Chapter 1: Introduction
Chapter 2: Basic mechanisms of economic growth: The Solow model
Chapter 3: Technology and growth
Chapter 4: Education and growth
Chapter 5: Institutions and growth
Chapter 6: Conclusion and summary
- Enseignant: Marc Alexandre Senegas
- Enseignant: Murat Yildizoglu