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Economic Growth

Code 12423
Year 1
Semester S2
ECTS Credits 6
Workload OT(15H)/TP(30H)
Scientific area Economics
Entry requirements Basic knowledge of Macroeconomics and Calculus at the Bachelor level.
Mode of delivery Face to face
Work placements Has not
Learning outcomes The objectives of the curricular unit are the following:
- identify the main empirical facts related with economic growth and development across the world;
- identify the sources and the determinants of economic growth according to each of the studied models;
- solve the studied models and obtain their key results both in steady state and in the transitional dynamics;
- assess the empirical validity of the different growth models;
- identify the main econometric techniques used in the economic growth empirical literature;
- present some of the main current research topics in the field of economic growth.
Syllabus 1. Growth and Development. definitions and measures
2. The World in numbers: GDP per capita; population; income inequality; development
3. Inequality measures: Lorenz Curve and Gini Index
4. Exogenous Growth theory
4.1. The Solow model: Revisions
4.2. The Solow model with human capital
4.3. Lessons from the exogenous growth theory
4.4. Growth accounting: revisions
5. Endogenous Growth theory
5.1. A model with human capital accumulation
5.2. A model with externalities in physical capital
5.3. A model with human and physical capital
5.4. AK model: comparison with the exogenous growth theory
5.5. Technology
5.6 An endogenous growth model with R&D
6. Empirical Economic Growth: data sources and methods
7. Current research topics in the field of Economic Growth.
Main Bibliography Acemoglu, D. (2009), Introduction to Modern Economic Growth, Princeton University Press.
Afonso, O., Vasconcelos, P.B., Neves, P.C. and Sequeira, T.N. (2019), Crescimento Económico – Uma abordagem Moderna e Novas Tendências, Grupo Almedina.
Barro, R. and X. Sala-i-Martin (2003), Economic Growth, 2nd Edition, MIT Press.
Jones, C.I and Vollrath, D. (2013), Introduction to Economic Growth, 3rd Edition, Norton & Company
Weil, D. (2013), Economic Growth, 3rd Edition, Routledge
Teaching Methodologies and Assessment Criteria In the beginning of each chapter, the teacher presents the theory in expositive lectures. Practical classes include the resolution of exercises, analysis of statistical data, and discussion of reports and scientific articles on the related topics.
The continuous evaluation is composed by: i) a written test (70%); ii) three individual homeworks (30%).
In order to be accepted for the final exam, students must attend at least 70% of the total number of lessons.
Language Portuguese. Tutorial support is available in English.
Last updated on: 2020-07-02

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