Economic Growth

The purpose of this two day course is to present an overview of the theory of economic growth, at a Masters / advanced undergraduate level. The main theories are introduced in as intuitive a way as possible, to pinpoint as rigorously as possible which ones withstand empirical scrutiny and why. This is not a theoretical course, but techniques are discussed that help think about the economic growth question in a unified manner, and that motivate the empirical questions in the field. Throughout the class, special attention is being paid to data, and to what empirical research has taught us about the effective determinants of economic growth. The proposed structure leaves plenty of room for group discussions, particularly as regards more recent developments on both empirical and theoretical fronts.

 

Course Outline
 

Day 1 – Theories

Morning - The Solow Model
Review of the NeoClassical model of growth. The Production Function: the importance of diminishing returns, the existence of a steady state, and how savings, investment and capital accumulation can translate into economic growth.

Afternoon – New Growth Theories
Endogenous growth and non diminishing returns: the importance of Research and Development and education. The possibility of Poverty traps. Models of innovation and creative destruction.

 

Day 2 – Empirics

Morning – Total Factor Productivity
A measure of our ignorance: its definition(s), how it is computed and its determinants. A role for regulations, for institutions and for incentives. How to think about the role of institutions in growth?

Afternoon – The Empirics of Economic Growth
What determines GDP growth rates – growth regressions, convergence and catching up.An application to Southeast Asia.What determines GDP levels – TFP, institutions, education. Recent developments in empirical growth.The rise of global inequalities.
Are institutions exogenous?

For further information, or to register your interest, please contact us.

Course Summary: 

  • Duration: 2 Days
  • Price: £670 + VAT
  • Dates: Please get in touch
  • Code: ECGR

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Delegate feedback

 

speach-markSpot on. Really good. Content and speed just right.   


 

speach-markThe tutor was Excellent! First class.  


 

speach-markThe course gave me a much better understanding of growth theory and empirics in relation to my role in environmental policy and natural capital.    


 

speach-markGreat course - empirical section particularly.  


 

speach-markEverything was excellent. Tutor was really engaged and clear.   


 

speach-markVery good course! Excellent tutor, knowledgeable and balanced!   


 

speach-markExcellent course, really strong structure and good use of evidence. Very good tutor.    


 

speach-markThis was a good course and covered my learning goals very well. There was a good range of theory and empirics.