AØKA08089U Economic Growth (F)

Volume 2015/2016
Education

Elective at MSc in Economics
The course is part of the Financial line symbolized by "F".

Content

We study what factors determine productivity levels and productivity growth in the longer run. We regard productivity as an endogenous variable evolving over time in response to human and physical capital accumulation and research and development. The emphasis is on the industrialized world. We also address models and current issues related to technology transfer, catching-up, natural resources and the environment. There will be an emphasis on formal models (understanding them, being able to evaluate them from both a theoretical and empirical perspective, and to use them to analyse specific questions). Calculus intensity is high.

Themes:
1. How is the world income distribution evolving?
2. Do countries converge towards steady state paths and, if so, how fast?
3. Why do growth rates differ over long periods?
4. How rapidly do marginal returns to produced inputs diminish?
5. How can the emergence of new product qualities and new production methods be modelled?
6. Is continued economic growth compatible with sustainable economic development?
7. With a view to the climate change problem, what should the discount rate be in long-term social investment?

Learning Outcome

The aim of the course is to provide students with the skills needed to function as a trained economist working on the problems of economic growth in an international organization, business environment, governmental or non-governmental organization or pursuing a research degree.
By the end of the course the student should be able to:
1. Explain and apply major theoretical growth models and discuss their relevance to the understanding of the economic growth process.
2. Apply the concepts and analytical tools of growth theory to specific questions related to technical change and the evolution of productivity.
3. Account for key empirical regularities concerning technical change and evolution of productivity.
4. Apply knowledge of empirical methods to articles that conduct quantitative analysis in the context of economic growth.
5. Comment in an enlightened way upon key debates among economists concerning factors that matter for economic growth.


A perfect score of 12 at the final exam is given if the student is able to demonstrate -- in a clear, concise and convincing way - to have obtained thorough competence in dimensions 1 to 5.

The course does not follow any particular textbook, but uses lecture notes, a few journal articles and selected chapters from:

Acemoglu, D., Introduction to Modern Economic Growth, Princeton University Press, 2009.

Jones, C. I., and D. Vollrath, 2013, Introduction to Economic Growth, 3rd ed., Norton: New York.

(updated 15-12-15)

Knowledge of basic macro and growth models at a level corresponding to David Romer, Advanced Macroeconomics, and of mathematical techniques such as differential equations, phase diagrams, and some optimal control theory.

Useful reading before the course is taken includes the mentioned book by David Romer (chapters 1-3).
2 hours of lectures and 2 hours of classes per week for 14 weeks.

Time and room:
For time and classroom please press the link under "Se skema"(See schedule) at the right side of this page (15E means Autumn 2015, 16F means Spring 2016).
Normally the exercise classes begin in the second week of the semester.

You can find the similar side partly in English at
https:/​/​skema.ku.dk/​ku1516/​uk/​module.htm
-Select Department: “2200-Økonomisk Institut” (and wait for respond)
-Select Module:: “2200-F16;Economic Growth”
-Select Period: “Forår/Spring – Weeks 4-29”
-Press: “ View Timetable”
  • Category
  • Hours
  • Class Exercises
  • 28
  • Exam
  • 3
  • Lectures
  • 28
  • Preparation
  • 147
  • Total
  • 206
Credit
7,5 ECTS
Type of assessment
Written examination, 3 hours under invigilation
The exam is a 3 hours written test without any aids.
Exam registration requirements

One assignment in the middle of the semester must be completed and accepted for access to the final exam.

Aid
Without aids
Marking scale
7-point grading scale
Censorship form
External censorship
100 % censurship
Exam period

The written exam takes place May 31, 2016 at Peter Bangsvej 36, 2000 Frederiksberg http://pc-eksamen.ku.dk/pc_exam

The exact time of the exam will be informed in the Self-Service at KUnet mid-April.

For enrolled students more information about examination, exam/re-sit, rules etc. is available at the student intranet for Examination (English) and student intranet for Examination (KA-Danish).

Re-exam

The written exam takes place August 29, 2016 at Peter Bangsvej

The exact time of the exam will be informed in the Self-Service at KUnet mid-August.

If only a few students have registered for the re-exam, the exam might change to an oral exam including the date for the exam, which will be informed  by the Examination Office.

Criteria for exam assesment

The student must in a satisfactory way demonstrate that he/she has mastered the learning outcome of the course.