Class Economic Growth Models

Models and Theories of Economic Growth and their determinants

Not applicable

Review of the Accounting Identity of Gross Domestic Product in an Open Economy and Empirical Evidence of Growth (Data). The importance of Economic Growth and the Solow-Swan neoclastic model The Importance of Growth and a Brief History of Modern Growth Theory Basic Structure of the Solow-Swan Model The Fundamental Equation of the Solow-Swan Model The Steady State Endogenous Growth Models Theoretical dissatisfaction with neoclassical theory The AK model Behavior of families Business behavior Equilibrium Model with physical and human capital Application of the Concepts of Economic Growth vs. Economic Development. Empirical facts of the economic growth Empirical work on Economic Growth: Data sources. Methods of estimating Growth regressions

Students should attend classes on a regular basis to learn how to formulate and apply the main models of endogenous and/or exogenous economic growth. Teaching is carried out based on theoretical-practical classes, in which after the transmission of theoretical contents, students must formulate and propose potential extensions of economic growth models and subsequently operationalize and validate the relationship and/or the proposed relationships with econometric software. During the semester, scientific articles will be analyzed, both in the theoretical formulation of economic growth models; as well as the empirical approaches associated with the theoretical models proposed by the authors of the articles. In summary, to encourage students to practice scientific and practical reading when working economic statistics with econometric practices in order to validate the expansions of the models proposed by the students.

Barro, R. and X. Sala-i-Martin (2003), Economic Growth, 2nd Edition, MIT Press. Jones, C.I and Vollrath, D. (2013), Introduction to Economic Growth, 3rd Edition, Norton & Company Blanchard, O. J. (2024). Macroeconomics (9ª ed.). Pearson Education.