This course is intended as an introduction to the field of advanced macroeconomics with a special focus on economic growth. Lectures aim to deal with the theoretical foundations of exogenous and endogenous growth models. The importance of growth for nations and discussion of some (well-known) growth theories together with the role of innovation, human capital and environment will therefore be primary focuses of this course.

Learning objective:

Students shall be given the ability to understand, analyze and evaluate selected models of endogenous growth theory.

Course content:

• Intertemporal consumption decision
• Growth models with exogenous saving rates: Solow
• Growth models with endogenous saving rates: Ramsey
• Growth and environmental resources 
• Basic models of endogenous growth
• Human capital and economic growth
• Modelling of technological progress
• Diversity Models
• Schumpeterian growth
• Directional technological progress
• Diffusion of technologies

Recommendations:

Basic knowledge of micro- and macroeconomics is assumed, as taught in the courses Economics I [2600012], and Economics II [2600014]. In addition, an interest in quantitative-mathematical modeling is required.

Workload:

The total workload for this course is approximately 135.0 hours. For further information see German version.

Exam description:

The assessment consists of a written exam (60 min) according to Section 4(2), 1 of the examination regulation. The exam takes place in every semester. Re-examinations are offered at every ordinary examination date.

Students will be given the opportunity of writing and presenting a short paper during the lecture time to achieve a bonus on the exam grade. If the mandatory credit point exam is passed, the awarded bonus points will be added to the regular exam points. A deterioration is not possible by definition, and a grade does not necessarily improve, but is very likely to (not every additional point improves the total number of points, since a grade can not become better than 1). The voluntary elaboration of such a paper can not countervail a fail in the exam.

Auszug:

• Acemoglu, D. (2009): Introduction to modern economic growth. Princeton University Press, New Jersey.
• Aghion, P., Howitt, P. (2009): Economics of growth, MIT-Press, Cambridge/MA.
• Barro, R.J., Sala-I-Martin, X. (2003): Economic Growth. MIT-Press, Cambridge/MA.
• Sydsaeter, K., Hammond, P. (2008): Essential mathematics for economic analysis. Prentice Hall International, Harlow.
• Sydsæter, K., Hammond, P., Seierstad, A., Strom, A., (2008): Further Mathematics for Economic Analysis, Second Edition, Pearson Education Limited, Essex.