2025
Economic Growth
Name: Economic Growth
Code: ECN11989M
6 ECTS
Duration: 15 weeks/156 hours
Scientific Area:
Economy
Teaching languages: Portuguese
Languages of tutoring support: Portuguese
Sustainable Development Goals
Learning Goals
The general goal of the course is to improve and to deepen the students ability to understand the current approaches to economic growth and its policy implications.
We will revisit the classical economic growth models of the early 1950s but the focus will be the study of all the new developments since then: endogenous growth, human capital, education, innovation, ideas, scale effects and institutions. Furthermore, we will stimulate the reflection about the connections between sustainability and economic growth, with especial focus on climate change.
General skills:
Autonomy, adaption, initiative, Independent reasoning, decision, responsibility and innovation,
Professional skills:
team-working, oral and written communication skills, ability to communicate research results and ideas to specialists and non specialists.
Specific skills
Capacity of abstraction, model building, intuition, research ethics
We will revisit the classical economic growth models of the early 1950s but the focus will be the study of all the new developments since then: endogenous growth, human capital, education, innovation, ideas, scale effects and institutions. Furthermore, we will stimulate the reflection about the connections between sustainability and economic growth, with especial focus on climate change.
General skills:
Autonomy, adaption, initiative, Independent reasoning, decision, responsibility and innovation,
Professional skills:
team-working, oral and written communication skills, ability to communicate research results and ideas to specialists and non specialists.
Specific skills
Capacity of abstraction, model building, intuition, research ethics
Contents
Part 1: Introduction
1.1 Stylized facts
1.2 The Solow-Swan model
1.3 absolute and conditional convergence.
Part 2: The neoclassical growth model.
2.1 Economic Growth with infinite time horizon and optimizing agents: the model of Ramsey-Cass-Koopmans;
2.2 Human capital and economic growth
2.4 1st generation endogenous growth models
One-sector models of economic growth; the AK model, Leaning-by-doing, and knowledge spillovers;
Two-sector models of economic growth: The Lucas-Uzawa and the Nelson-Phelps models.
The scale effects (Jones and Mankiw)
Economic growth in the context of open economy
Part 3: Economic Growth, Natural Resources and Sustainability
3.1 Endogenous Growth and Sustainability:
3.2 The Environmental Kuznets Curve and the Green account
1.1 Stylized facts
1.2 The Solow-Swan model
1.3 absolute and conditional convergence.
Part 2: The neoclassical growth model.
2.1 Economic Growth with infinite time horizon and optimizing agents: the model of Ramsey-Cass-Koopmans;
2.2 Human capital and economic growth
2.4 1st generation endogenous growth models
One-sector models of economic growth; the AK model, Leaning-by-doing, and knowledge spillovers;
Two-sector models of economic growth: The Lucas-Uzawa and the Nelson-Phelps models.
The scale effects (Jones and Mankiw)
Economic growth in the context of open economy
Part 3: Economic Growth, Natural Resources and Sustainability
3.1 Endogenous Growth and Sustainability:
3.2 The Environmental Kuznets Curve and the Green account
Teaching Methods
Lectures are organized around specific topics inside each chapter and complemented by an active learning strategy. Students are asked to present short papers in class. The e-learning moodle platform is extensively used.
The typical lecture will make use of different learning methods. First, a paper or group of papers is presented in sequence and in detail. The central model is discussed with the students. Secondly, we will present other models and approaches to the same issue, highlighting how they are related and how other assumptions and modeling choices may lead to alternative results. Finally, we will provide an overview of the literature and the role of each of the models in the development of the literature and the definition of the research frontier.
The evaluation process is made up of : (1) Thematic short paper (15%); (2) Analysis and possible extension of an article (40%); (3) one final Exam (45%). Alternatively students may choose to do a single final exam (100%).
The typical lecture will make use of different learning methods. First, a paper or group of papers is presented in sequence and in detail. The central model is discussed with the students. Secondly, we will present other models and approaches to the same issue, highlighting how they are related and how other assumptions and modeling choices may lead to alternative results. Finally, we will provide an overview of the literature and the role of each of the models in the development of the literature and the definition of the research frontier.
The evaluation process is made up of : (1) Thematic short paper (15%); (2) Analysis and possible extension of an article (40%); (3) one final Exam (45%). Alternatively students may choose to do a single final exam (100%).
Teaching Staff (2024/2025 )
- Miguel Rocha de Sousa [responsible]
Certificações
