| Institute of Food and Resource Economics | |||||||||||||||
| Earliest Possible Year | MSc. 1 year to MSc. 2 year | ||||||||||||||
| Duration | One block | ||||||||||||||
| Credits | 7.5 (ECTS) | ||||||||||||||
| Course Level | MSc | ||||||||||||||
| Examination | Final Examination written examination Written Exam in Lecturehall No aid allowed Description of Examination: The exam is a 4 hour written exam without any aid allowed. The students will be examined in topics from the course literature. These topics have typically been explained during the course, and the students have worked with theoretical exercises related to the topics during the course. Weight: 100% 7-point scale, internal examiner Dates of Exam: 16 April 2010 | ||||||||||||||
| Requirement For Attending Exam | Each student must complete at least one of the defined projects. The project must be approved. | ||||||||||||||
| Organisation of Teaching | Lectures, theoretical exercises and project work | ||||||||||||||
| Block Placement | Block 3 Week Structure: C | ||||||||||||||
| Teaching Language | English | ||||||||||||||
| Optional Prerequisites | 290055 Micro Economics 290030 Economics 290040 Economic Policy | ||||||||||||||
| Restrictions | none | ||||||||||||||
| Course Contents | |||||||||||||||
| Introductory, the data regarding the differences in level of income among countries and the differences in the rate of income growth among countries are presented. During the rest of the course we focus on explaining these differences. The course covers three topics: (i) the explanations put forward in the literature for the observed income and growth differences among countries; (ii) the correlation between openness and economic growth, and (iii) the fundamental characteristics that underlie differences in factor accumulation, productivity and openness among countries. First, we explore the degree to which the observed differences among countries in terms of income levels and growth rates can be explained by variations in factor accumulation(physical capital and human capital). We also analyse whether variations in productivity levels and productivity growth rates (technology and efficiency) can explain cross-country differences. The second topic involves an understanding of the link between openness to the world economy(e.g., international trade, capital mobility and technology transfer) and economic growth and development. Finally, we probe into the deeper determinants that underlie differences in factor accumulation, productivity and openness among countries. Included here are institutions, government policy, natural resources, culture and geography. | |||||||||||||||
| Teaching And Learning Methods | |||||||||||||||
| A combination of lectures, exercises and project work. The project work involves groups of students that read an analysis or an article, prepare a presentation of the material, and present it for each other. | |||||||||||||||
| Learning Outcome | |||||||||||||||
| Why are some countries rich and others poor? Why have Singapore, Taiwan and South Korea had annual growth rates well above 5 per cent per year during the last 50 years while many sub-Saharan African countries are not growing at all? What is the engine of economic growth? Since the mid-1980s economic growth has been one of the most active fields of research in economics, and new theories, new data and new insights have been generated to answer these questions. During the course some of the most important and interesting contributions are presented. The main objective of the course is to provide an introduction to economic growth, income inequality, growth mechanisms, and fundamental characteristics that influence the development of countries. To achieve this goal old and new theories of economic growth and relevant empirical evidence are presented with an emphasis on economics instead of math. After completing the course the student should be able to: Knowledge: - summarise the facts regarding differences among countries in their income level and growth rate of income - define the hypotheses of income convergence - describe the engines of growth put forward in the theoretical literature - sum up the empirical evidence regarding the degree to which income variation among countries can be explained by variations in factor accumulation - express the concepts of productivity, technology and efficiency - mention key empirical insight regarding the fundamental characteristics of countries influencing factor accumulation and productivity Skills: - analyse steady-state properties of the theoretical models that are presented during the course - explain the key differences between the old growth theory and the new one - reflect about the effect of openness on economic growth - reason about empirical growth analyses Competences: - discuss the variety of factors that drive economic growth - put into perspective empirical results regarding economic growth | |||||||||||||||
| Course Litterature | |||||||||||||||
| Charles I. Jones. "Introduction to economic growth", 2nd edition, 2002. W.W. Norton. David N. Weil. "Economic growth", 2005. Pearson Addison Wesley. | |||||||||||||||
| Course Coordinator | |||||||||||||||
| Lill Andersen, lth@foi.dk, Institute of Food and Resource Economics/International Economics and Policy Division, Phone: 35336865 | |||||||||||||||
| Study Board | |||||||||||||||
| Study Committee NSN | |||||||||||||||
| Course Scope | |||||||||||||||
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