290054 Economic Growth and Development

Detaljer
Fødevareøkonomisk Institut
English titleEconomic Growth and Development
Tidligst mulig placeringKandidat 1.år til Kandidat 2. år
VarighedEn blok
 
Pointværdi7.5 (ECTS)
KursustypeKandidatkursus
 
EksamenSluteksamen

skriftlig prøve


Skriftlig auditorieeksamen

uden hjælpemidler

Beskrivelse af eksamen: The exam is a 4 hour written exam without any aid allowed. The students will be examined in topics from the course literature. These topics have typically been explained during the course, and the students have worked with theoretical exercises related to the topics during the course.

Vægtning: 100%



7-trinsskala, intern censur

Eksamensdatoer:
03 April 2009
 
Forudsætninger for indstilling til eksamenHver studerende skal mindst gennemføre et af de definerede projekter, og det skal godkedes
 
Rammer for undervisningLectures, theoretical exercises and project work
 
BlokplaceringBlock 3
Ugestruktur: C
 
UndervisningssprogEngelsk
 
Anbefalede forudsætninger290055 Mikroøkonomi
290030 Samfundsøkonomi
290040 Økonomisk politik
 
Begrænset deltagerantalnone
 
Kursusindhold
Introductory, the data regarding the differences in level of income among countries and the differences in the rate of income growth among countries are presented. During the rest of the course we focus on explaining these differences.

The course covers three topics: (i) the explanations put forward in the literature for the observed income and growth differences among countries; (ii) the correlation between openness and economic growth, and (iii) the fundamental characteristics that underlie differences in factor accumulation, productivity and openness among countries.

First, we explore the degree to which the observed differences among countries in terms of income levels and growth rates can be explained by variations in factor accumulation(physical capital and human capital). We also analyse whether variations in productivity levels and productivity growth rates (technology and efficiency) can explain cross-country differences.

The second topic involves an understanding of the link between openness to the world economy(e.g., international trade, capital mobility and technology transfer) and economic growth and development.

Finally, we probe into the deeper determinants that underlie differences in factor accumulation, productivity and openness among countries. Included here are institutions, government policy, natural resources, culture and geography.
 
Undervisningsform
A combination of lectures, exercises and project work. The project work involves groups of students that read an analysis or an article, prepare a presentation of the material, and present it for each other.
 
Målbeskrivelse
Why are some countries rich and others poor? Why have Singapore, Taiwan and South Korea had annual growth rates well above 5 per cent per year during the last 50 years while many sub-Saharan African countries are not growing at all? What is the engine of economic growth? Since the mid-1980s economic growth has been one of the most active fields of research in economics, and new theories, new data and new insights have been generated to answer these questions. During the course some of the most important and interesting contributions are presented.

The main objective of the course is to provide an introduction to economic growth, income inequality, growth mechanisms, and fundamental characteristics that influence the development of countries. To achieve this goal old and new theories of economic growth and relevant empirical evidence are presented with an emphasis on economics instead of math.

After completing the course the student should be able to:
Knowledge:
- summarise the facts regarding differences among countries in their income level and growth rate of income
- define the hypotheses of income convergence
- describe the engines of growth put forward in the theoretical literature
- sum up the empirical evidence regarding the degree to which income variation among countries can be explained by variations in factor accumulation
- express the concepts of productivity, technology and efficiency
- mention key empirical insight regarding the fundamental characteristics of countries influencing factor accumulation and productivity
Skills:
- analyse steady-state properties of the theoretical models that are presented during the course
- explain the key differences between the old growth theory and the new one
- reflect about the effect of openness on economic growth
- reason about empirical growth analyses
Competences:
- discuss the variety of factors that drive economic growth
- put into perspective empirical results regarding economic growth
 
Litteraturhenvisninger
Charles I. Jones. "Introduction to economic growth", 2nd edition, 2002. W.W. Norton.

David N. Weil. "Economic growth", 2005. Pearson Addison Wesley.

 
Kursusansvarlig
Lill Andersen, lth@foi.dk, Fødevareøkonomisk Institut/Afdeling for International Økonomi og Politik, Tlf: 35336865
 
Studienævn
Studienævn NSN
 
Kursusbeskrivelsesomfang
forelæsninger40
teoretiske øvelser40
projektarbejde40
forberedelse82
eksamen4

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