Economic Growth

Code	15640
Year	1
Semester	S2
ECTS Credits	6
Workload	TP(45H)
Scientific area	Economics
Entry requirements	Does not have.
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. CONCEPTS AND FACTS 1.1 Why does economic growth matter? 1.2 Economic growth vs. development 1.3 The world in numbers: GDP per capita, population, poverty, inequality 1.4 Empirical facts of economic growth 2. EXOGENOUS GROWTH THEORY 2.1 The Solow model with technological progress: key features 2.2 The Solow model with human capital 2.3 Growth accounting 2.4 Absolute and conditional convergence 3. ENDOGENOUS GROWTH THEORY 3.1 The AK model 3.2 Models with human capital accumulation 3.3 Models with horizontal and vertical R&D 4. THE EMPIRICS OF ECONOMIC GROWTH 4.1 Data sources 4.2 Estimation methods of growth regressions 5. TOPICS OF ECONOMIC GROWTH 5.1 Economic growth and inequality 5.2 Technological progress and wage dynamics 5.3 Endogenous growth and international knowledge diffusion 5.4 Economic growth and the development of the financial system 5.5 Economic growth and institutions
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	Classes are theoretical-practical. 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 (75%); ii) set of homeworks (25%). In order to be accepted for the final exam, students must obtain at least a grade of 6 in the continuous evaluation.
Language	Portuguese. Tutorial support is available in English.