Growth and Development
The course covers a range of topics in the field of economic growth. The focus is on macro facts and macro models of growth and development, including models of exogenous and endogenous growth, structural change, uncertainty, convergence, path dependence, and multiple equilibria.
i) understanding the main issues and open questions in the field, ii) development of technical skills that enable students to critically evaluate core papers in the field, iii) development of skills that enable students to build creatively on existing research.
Grading will be based on presenting and replicating a relevant paper published in a top journal (not discussed in class). The paper and the replication results should be presented in class. The presentation should also include critical comments and possible future research questions. In order to get the minimum pass grade (C+) for the course, at least 40% of the total mark must be obtained. Students who take the course for audit or pass/fail are required to present a paper, but do not have to replicate its results.
The course is aimed at advanced PhD and second year MA students who have a solid background in micro- and macroeconomics. 1st year MA students who already have such a solid background can also take the course. Students need to be familiar with the basics of dynamic optimization in discrete time. For MA students, instructor approval is needed.