Class Economic Growth Models

Identify the main models and theories of economic growth and their determinants.

Not applicable

I.    Concepts of economic growth vs. economic development. Empirical facts on economic growth II.    Endogenous growth theory: AK model. Models with human capital accumulation. Models with horizontal and vertical R&D III.    Exogenous economic growth theory: Solow model with technical progress. Solow model with human capital. Absolute and conditional convergence IV.    Economic Growth Topics: Economic growth and inequality. Technical progress and wage dynamics. Endogenous growth and the international diffusion of knowledge. Economic growth and the development of the financial system V. Empirical work in Economic Growth: Data sources. Methods for estimating growth regressions

Students must attend classes regularly to learn how to formulate and apply the main endogenous and/or exogenous economic growth models.  Teaching is based on theoretical-practical classes, in which after theoretical content has been transmitted, students must formulate and propose potential extensions of economic growth models and then operationalise and validate the relationship and/or relationships proposed with econometric software.During the semester, scientific articles will be analysed, both in terms of 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.

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