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Instructors: Dr. Saeed Khodaverdian
Event type:
Interactive class
Displayed in timetable as:
Hours per week:
3
Credits:
6,0
Language of instruction:
English
Min. | Max. participants:
- | 45
Comments/contents:
This is an introductory course in theoretical modelling for growth and development. It consists of three blocks: 1) We review the real-world development of the countries in the recent past identifying the "key" elements for growth and development. 2) We use the elements in formal models deriving statements (hypothesis). 3) We modify the standard models in different ways exploring "more recent" aspects of growth and development.
This course is useful for students interested in theoretical modelling. It requires analytical skills.
Covid-19: Currently, I am planning to have a regular course where we meet in person at the UHH. However, depending on the covid-19 situation, the course can be changed to an online format. IN ANY CASE, registered students will be contacted by e-mail in due course.
Learning objectives:
This course has different learning objectives:
1) It teaches abstract thinking. Economic growth has numerous determinants and it is also affected by numerous factors. Yet, not all of them are equally important. This setting requires to distinguish between "major" and "minor" aspects of growth and development.
2) It gives deep insight into the economic situation of the countries today as well as for their development in the past. The income gap across the countries has never been so large as today. Understanding this issue is key for any course in growth and development.
3) It explains the tools for policy making. In empirical courses, the past is analyzed to make recommendations for the future. Yet, this approach might not be adequate when situations change, e.g. because technology has developed in a different way. Alternatively, "new" situations can emerge for which data is not available. Theoretical models help in these cases since they are based on assumptions.
Didactic concept:
In person meetings:
If the covid-19 situation allows, we will meet in person at the UHH. This setting enables the exchange of information and ideas directly. Students can find lecture notes on the STiNE web page ahead of time for preparation before they come to class. In our meetings, I will present the content and students are welcome to engage in a discussion. To this end, the course will be interactive.
Online meetings:
If the covid-19 situation does not allow in person meetings, the course will be online. Although this setting appears to complicate the personal exchange of ideas, it is worth clarifying that this is not the case. I will arrange for a virtual class room (ZOOM) where we meet online and yet being able to exchange information in a similar way as in the person meetings.
IN ANY CASE, registered students will be contacted by e-mail in due course.
Literature:
The following books are recommended for this course:
- The Economics of Growth, by Philippe Aghion and Peter W. Howitt, MIT press, 2008.
- Economic Growth, 2nd Edition, by Robert J. Barro and Xavier Sala-i-Martin, MIT press, 2004.
Yet, there are also numerous alternatives, e.g.:
- Economic Growth, 3rd Edition, by David N. Weil, Pearson Addison-Wesley, 2013.
- Economic Development, 12th Edition, by Michael P. Todaro and Stephen C. Smith, Harlow: Person Education 2015.
- Introduction to Modern Economic Growth, 2nd Edition, by Daron Acemoglu, Princeton University Press, 2008.
Additional examination information:
The course concludes with a written exam. Further information will be provided at a later stage.
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