Economic growth
Dr Xiaokai Yang
6 points * Two 1-hour lectures per week * First semester * Clayton * Prerequisite: ECO2020
Objectives On completion of this subject students will have been introduced to new endogenous growth models and be equipped with analytical techniques necessary for understanding economic growth. Students should be able to extract empirical and policy implications of models and have acquired skills in figuring out the intuition behind growth models.
Synopsis The Harrod-Domar model, the Ramsey model, the Solow model, the dual economy model, and other old growth models are critically examined and new growth models developed by Lucas, Romer, Grossman, Helpman, Yang and Borland are introduced in this course. Basic techniques to manage static and dynamic equilibrium models in the course of formalising interesting ideas will be taught. Reasons for economic growth and the relationship between economic growth, trade, and institutional changes are investigated.
Assessment Examinations (2.5 hours): 70% * Assignments: 30%