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GROWTH AND DEVELOPMENT
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Growth and development
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Academic year 2023/2024
- Course ID
- ECO0227
- Teacher
- Pietro Garibaldi (Lecturer)
- Year
- 2nd year
- Teaching period
- Second semester
- Type
- Related or integrative
- Credits/Recognition
- 6
- Course disciplinary sector (SSD)
- SECS-P/01 - economics
- Delivery
- Formal authority
- Language
- English
- Attendance
- Optional
- Type of examination
- Oral
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Sommario del corso
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Course objectives
Apprendere le nozioni di base delle determinanti della crescita economica, con modelli di base e avanzati di qualche applicazione. I modelli saranno utilizzati per interpretare i fatti della crescita. Gli stuementi matematici per risolvere i modelli di crescita (equazioni differenziali e ottimizzazione dinamica) verrano spiegati nel corso. Il corso presenterà anche i modelli di crescita endogena e crescita semi-endogena.The course presents a contemporary macroeconomic view on growth and development. The course is based on general equilibrium models and dynamic optimization. The models will be used to interpret facts about growth. The mathematical tools of dynamic optimization and differential equations will be presented in class. The final part of the course will also present contemporary topics in economics of growth and creative destruction.
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Results of learning outcomes
Padronanza dei metodi quantitativi necessari a risolvere modelli di crescita economica con agenti ottimizzanti.Ability to solve quantitatively and mathematically growth models with optimizing agents.
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Program
- Fatti, Modello di Solow e Modello Crescita Neoclassica. (Weeks 1-4)
1.1 Fatti
- Acemoglu 2008, Chapter I
- Jones, Charles, (2016) The Facts of Economic Growth, Handbook of Macroeconomics, Vol. 2A, p. 3-69*
1.2 Modello di Crescita Solow come modello parzialmente contemporaneo
- Acemoglu * (2009), Chapter II
- Alogoskoufis (2019), Chapter I
1.3 Equazioni Differenziali e Teoria del COntrollo Ottimo
- Acemoglu* (appendix B and C and Chapter 6
- Class Notes
- Neoclassical Growth Model: Optimality and Decentralization
- Acemoglu: Chapter 8, 10, 11 (*)
- Alogoskoufis (2019), Chapter III
- 2. 3 Più Uno modelli di Crescita Endogeni
(Weeks 5-6-7)
2.1 AK Model
- The AK Model (Aghion Howitt, Capitolo 2)*
2.2 Product Variety
- Product Variety (Aghion Howitt, Capitolo 3)*
- “Paul Romer: Ideas, nonrivalry and Endogenous Growth” Charles, Jones, Scandinavian Journal of Economics, July 2019, 121(3), 859-883.
2.3 Schumpetierian Growth
- The Schumpeterian Model (Aghion Howitt, Capitolo 4)*
2.4 Semi Endogenous Growth
- The past and Future of Economic Growth: A Semi-Endogenous Perspective” Annual Review of Economics, Volume 14, August 2022, pp. 125-152
- Crescita e Analisi Empirica
(Week 8)
- Acemoglu* (2009), Chapter III
- Kremer, Willis and You* (2021) Converging to Convergence, NBER Working Paper 29484
- Acemoglu and Molina (2021), Converging to Converge? A Comment NBER Working Paper 28992
- Convergence, Divergence, and The Middle-Income Trap (Aghion et al. 2021, Chapter 7)
- Directed Technical Change
(Week 9)
- Market Size and Directed Technical Change (Aghion Howitt, Chapter 8)*
- Overlapping Generations Models
(Week 10, time permitting)
- Acemoglu (2009), Chapter 9. (i)The Canonical OLG Model, Dynamic Inefficiency, Social Security, OLG with Perpetual Youth
- Facts, Solow Model and Neoclassical Growth Model (discrete and continuous time) (Weeks 1-4)
1.1 Facts
- Acemoglu 2008, Chapter I
- Jones, Charles, (2016) The Facts of Economic Growth, Handbook of Macroeconomics, Vol. 2A, p. 3-69*
1.2 Solow Growth Model as a partial contemporary model
- Acemoglu * (2009), Chapter II
- Alogoskoufis (2019), Chapter I
1.3 Differential equations and Optimal Control
- Acemoglu* (appendix B and C and Chapter 6
- Class Notes
- Neoclassical Growth Model: Optimality and Decentralization
- Acemoglu: Chapter 8, 10, 11 (*)
- Alogoskoufis (2019), Chapter III
- 2. Three Plus One Models of Endogenous Growth
(Weeks 5-6-7)
2.1 AK Model
- The AK Model (Aghion Howitt, Capitolo 2)*
2.2 Product Variety
- Product Variety (Aghion Howitt, Capitolo 3)*
- “Paul Romer: Ideas, nonrivalry and Endogenous Growth” Charles, Jones, Scandinavian Journal of Economics, July 2019, 121(3), 859-883.
2.3 Schumpetierian Growth
- The Schumpeterian Model (Aghion Howitt, Capitolo 4)*
2.4 Semi Endogenous Growth
- The past and Future of Economic Growth: A Semi-Endogenous Perspective” Annual Review of Economics, Volume 14, August 2022, pp. 125-152
- Growth and Empirics
(Week 8)
- Acemoglu* (2009), Chapter III
- Kremer, Willis and You* (2021) Converging to Convergence, NBER Working Paper 29484
- Acemoglu and Molina (2021), Converging to Converge? A Comment NBER Working Paper 28992
- Convergence, Divergence, and The Middle-Income Trap (Aghion et al. 2021, Chapter 7)
- Directed Technical Change
(Week 9)
- Market Size and Directed Technical Change (Aghion Howitt, Chapter 8)*
- Overlapping Generations Models
(Week 10, time permitting)
- Acemoglu (2009), Chapter 9. (i)The Canonical OLG Model, Dynamic Inefficiency, Social Security, OLG with Perpetual Youth
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Course delivery
Lezioni e classi con approfondimento metodi quantitativiLectures and classes with detailed study of quantitative methods.- Oggetto:
Learning assessment methods
Esercizi e tesinaProblem Sets and Short essay- Oggetto:
Support activities
Metodi quantitativi svolti in classeQuantitative Methods solved in classSuggested readings and bibliography
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Alogoskoufis, (2019) George Dynamic Macreoconomics, MIT Press.
Aghion, Philippe and Peter Howitt (2011) Economics of Growth, MIT PRESS*
Acemoglu, Daron (2009) Introduction to Modern Economic Growth, Princeton University Press*
Aghion Philippe, Celine Antonin and Simon Bunel (2021). The Power of Creative Destruction, Harvard University Press
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Class schedule
- Enroll
- Open
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