Course Name : Economic Growth

Degree: Bachelor

Code

Year/Semester

Local Credits

ECTS Credits

Course Implementation, Hours/Week

Course

Tutorial

Laboratory

EF 408

4/1 (Fall)

3

5

3

-

-

Department

Economics and Finance

Instructors

Assoc. Prof. Dr. S. Meral Çakıcı

Contact Information

e-mail: smcakici@pirireis.edu.tr

Office Hours

Monday 10:00- 12:00

Web page

-

Course Type

 Elective

Course Language

English

Course Prerequisites

  EF 221

Course Description

This course aims to provide an introductory analysis of economic growth, concentrating both on theory and empirics. Basic theory and facts about prosperity and growth, the relationship between growth and capital accumulation, the role of technological progress in explaining growth, the Solow Model, endogenous growth models and cross-country growth regressions are among the topics to be covered in this course.

Course Objectives

1. To equip students with the fundamentals of the Solow Growth Model

2. To provide students with general information regarding the determinants of growth and the observed cross-sectional differences with respect to growth performances of countries

3. To inform students about the basics of endogenous growth theory

4. To enable students to follow current issues and developments related to economic growth

Course Learning Outcomes

Students that complete the Economic Growth-EF 408 course successfully are able to

1. Identify the Solow Growth Model and its contribution to the literature
2. Explain the main determinants of economic growth as well as other macroeconomic, financial and structural factors influencing growth
3. Describe the basic endogenous growth models and explain the novelty of those models
4. Follow and discuss current developments in the field of economic growth

Instructional Methods and Techniques

Presentation of Theory and Empirics, Discussion and Presentation of Selected Literature

Tutorial Place

-

Co-term Condition

-

Textbook

“Introducing Advanced Macroeconomics: Growth and Business Cycles” by Peter Birch Sorensen and Hans Jorgen Whitta-Jacobsen, McGraw-Hill, 2010.

Other References

-

Homework & Projects

Students are assigned benchmark papers from the related literature to get prepared for a presentation in class, which will constitute 20% of the evaluation for grade, and for a research proposal to be submitted at the end of the semester, which will constitute 10% of the evaluation for grade.

Laboratory Work

-

Computer Use

-

Assessment Criteria

Activities

Quantity

Effects on Grading, %

Attendance

Midterm

1

30

Quiz

Homework

Term Paper/Project

10

Laboratory Work

Practices

Tutorial

Seminar

Presentation

1

20

Field Study

Final Exam

1

40

TOTAL

100

Effects of Midterm on Grading, %

30

Effects of Final on Grading, %

40

TOTAL

70

Week

Topics

Course Outcomes

1

Introduction-Basic Theory and Empirics About Prosperity and Growth

I, II

2

Capital Accumulation and Growth: The Basic Solow Model

I, II

3

Steady State, Structural Policy and the Golden Rule

I, II

4

Wealth Accumulation and Capital Mobility in the Solow Model

I, II

5

Technological Progress and Growth: The General Solow Model

I, II

6

Steady State, Convergence and Economic Growth in the General Solow Model

I, II

7

Growth Accounting

II, IV

8

Midterm

9

Introduction to Endogenous Growth Theory

III

10

Productive Externalities and Endogenous Growth

III

11

R&D-based Endogenous Growth

III

12

Exogenous vs. Endogenous Growth

I, II, III

13

Growth Empirics: Cross-country Growth Regressions

II, IV

14

Current Developments and Growth Strategies in Selected Countries

II, IV

Program Outcomes

Level of Contribution

1

2

3

a

The ability to analyze theoretical knowledge regarding economics and finance, and to evaluate the empirical implications of such knowledge

X

b

The ability to gather unique information specific to social and behavioral sciences using documented and visual sources focused on academics, management and politics

X

c

The ability to derive new information through employing information related to economics and finance in technical and computerized instruments

X

d

The ability to present obtained information as research report or article in a technically equipped manner (i.e., using computer programs) as required by fields of economics and finance

X

e

The ability to use information regarding economics and finance in decision-making and implementing as well as in turning the decisions made into habits

X

f

The ability to analyze and discuss issues related to economics, finance, and their subfields as well as other  fields of social sciences in an interdisciplinary approach

X

g

The ability to absorb and correctly evaluate ethical and professional responsibilities

X

h

The ability to communicate fluently and effectively in Turkish and in English, both in written and in oral form

X

i

To have a visionary perspective required to be able to absorb the global implications of the economics and finance disciplines

X

j

To obtain the life-time ability for learning

X

k

To have extensive information regarding current issues

X

l

To be open and adaptive to innovation and changing circumstances

X

m

To have technical information, both theoretically and practically, required to be able to obtain information and draw inferences using data analysis

X

Prepared by

Assoc. Prof. Dr. S. Meral ÇAKICI

Date

14.01.2018

Signature