This is a course in modern growth theory. We will examine the quantitative and qualitative evidence used by economists and historians and develop a series of mathematical models. Throughout this course I will emphasize the interactions among data, theory, and history in explaining economic growth.
Readings (in order of classes where we used them)
Kuznets, “Modern Economic Growth: Findings and Reflections.”
Easterlin, “The Worldwide Standard of Living since 1800.”
Smith, “Escaping the National Middle-Income Trap.”
Jones and Klenow, “Beyond GDP? Welfare Across Countries and Time.”
FRED Blog, “Negative Investment?”
Kendrick, Productivity Trends in the United States
McKinsey Global Institute, Solving the Productivity Puzzle
Vollrath, Macroeconomic Theory notes
Arrow and Debreu, “Existence of an Equilibrium for a Competitive Economy.”
Jones and Romer, “The New Kaldor Facts: Ideas, Institutions, Population, and Human Capital.”
Jones, et al, “Are Ideas Getting Harder to Find?”
Audio and Video
Exam 1: model answers score distribution
Exam 2: model answers score distribution
ECONOMICS DEPARTMENT STUDENT LEARNING GOALS AND OBJECTIVES
Goal 1: Students of economics will be able to apply economic theory to understand economic issues and policies by:
1.1: Analyzing interactions between human values and economic life;
1.2: Demonstrating a knowledge of and ability to apply appropriate analytical tools; and
1.3: Recognizing the diversity of methodologies practiced in conducting economic analysis.
Goal 2: Students of economics will be able to evaluate evidence bearing on those economic issues and policies by:
2.1: Identifying, locating, and assessing the necessary quantitative and non-quantitative information, facts and arguments; and
2.2: Employing both quantitative reasoning and computing skills where appropriate.
Goal 3: Students of economics will be able to communicate effectively the results of their economic analysis through:
3.1: Clear writing, appropriately supported and documented;
3.2: Effective participation in discussion; and
3.3: For majors, polished oral presentations.