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The aim of this course is to introduce students to growth theory and the empirical evidence on these theories. This course will provide an introduction to the exogenous and endogenous growth models. Students will understand growth accounting.
Growth Models with Exogenous Saving Rates. Solow Growth Model. Extensions of Ramsey Growth Model. One-sector Models of Exogenous Growth. Two-sector Models of Exogenous Growth. Technological Change. Labor Supply and Population. Growth Accounting. Introduction to Endogenous Growth.
Upon succesful completion of this course, a student will be able to
1. Establish Ramsey growth model.
2. Compare and contrast exogenous and endogenous growth theories.
3. Solve exogenous and endogenous growth models.
4. Discuss the impact of technological change in growth.
5. Compare and contrast the role of labor supply and population in growth models.
6. Identify and discuss major economic issues of the day with respect to promoting or hindering growth.