Capital and Growth Theory (EC0021)

? Credit Points : 20 ? SCQF Level : 10 ? Acronym : MSE-4-CGTh

How does the economy grow over time and what determines the rate of growth? What is the optimal rate of growth? Can and should the government intervene to influence the growth process? The aim of this course is to acquaint students with recent developments in economic growth theory and its answers to these important questions, building on the coverage of growth theory in Topics in Macroeconomics, which is a pre-requisite. Topics covered include: general equilibrium and growth theory; the neoclassical one-sector (Solow-Swan) and two-sector (Uzawa) models; functional distribution of income; optimal growth, the golden rule; Ramsey utility and dynamic optimisation; exogenous technical progress; endogenous growth theory, AK model; human capital and two sector endogenous growth models; endogenous technical progress; convergence; growth and cycles. The course progresses beyond the coverage in Topics in Economic Analysis 1, to provide a deeper and more comprehensive treatment of research on economic growth. This means that the course is primarily aimed at Senior Honours students. Other students (e.g. Visiting Undergraduates) interested in taking the course should consult the course organiser.

Entry Requirements

? Pre-requisites : Topics in Economic Analysis 1 Essentials of Econometrics

? Costs : None

Subject Areas

Home subject area

Economics, (Management School and Economics, Schedule H)

Delivery Information

? Normal year taken : 4th year

? Delivery Period : Semester 2 (Blocks 3-4)

? Contact Teaching Time : 2 hour(s) per week for 10 weeks

First Class Information

Date	Start	End	Room	Area	Additional Information
10/01/2008	11:10	13:00	Room G.01, William Robertson Building	Central

All of the following classes

Type	Day	Start	End	Area
Lecture	Thursday	11:10	13:00	Central

Summary of Intended Learning Outcomes

After successful completion of this course students should have developed their general skills of critical analyss and assessment; obtaining and processing information from a variety of sources; presentation and communication skills; interpersonal and groups skills; independent action and initiative; managing tasks and time.