Bachelor
2021/2022
Economic Growth and Development
Type:
Elective course (Economics)
Area of studies:
Economics
Delivered by:
Department of Applied Economics
Where:
Faculty of Economic Sciences
When:
4 year, 3 module
Mode of studies:
offline
Open to:
students of one campus
Instructors:
Galina Besstremyannaya
Language:
English
ECTS credits:
3
Contact hours:
36
Course Syllabus
Abstract
The course outlines major economic policies associated with fostering economic growth and incentivizing various structural changes of the economy. The course uniquely focuses both on the issues of the catch-up growth by middle/low income countries and on the current economic concerns of the high-income countries. The latter include the development of the technology economy, the decrease of inequality across individuals and companies, stimuli for R&D investment and protection of intellectual property rights, promotion of energy efficiency and the use of environmentally friendly technologies. The course focuses on the macro and micro-level analysis of economic growth and draws upon the experience of the US, EU, Japan and the BRICS countries. Prerequisites: Introductory macroeconomics (grade 7 and above desirable), Introductory econometrics (grade 7 and above desirable). The course may be viewed as a good companion to electives: Time series, Dynamic panel data, Economics of innovation, Institutional economics.
Learning Objectives
- The purpose of the course is to focus on the key issues related to fostering economic growth. The students will learn the recent approaches to modeling economic growth and technological change, the methods of applied economic analysis of the policy changes in various countries, the examples of policy interventions and the determinants of their success, the causes and consequences of poverty and inequality, the adverse effects of growth on consumer welfare owing to environmental pollution. A special attention will be given to the development of the research and analytical skills: a critical review of the existing literature, the understanding of theoretical and empirical techniques, work with empirical data in order to analyze econometric specifications coming from the theoretical models. Prerequisites: Introductory macroeconomics (grade 7 and above desirable), Introductory econometrics (grade 7 and above desirable). The course may be viewed as a good companion to electives: Time series, Dynamic panel data, Economics of innovation, Institutional economics.
Course Contents
- Wealth of nations and quality ladder
- Heteregeneity in economic growth
- Management and total factor productivity
- Why attend schools and universities
- Estimating time profiles of technological change and returns to education using the macro and micro data
- Revising the hypothesis about exogenous growth and convergence of countries to similar economic standards
- Washington consensus, growth and inflation
- Empirical evaluation of the country’s growth and its time profile
- Simon Kuznets and two curves
- Russian economy
- Russian economy, oil and natural resources
- Flying-geeze approach
- Silicon valleys in the US and across the world
Assessment Elements
- Final essay and its presentationLate work ( final essay) is discounted at 50%.
- Mid-term testMidterm is an open book 40 minute test
- Class/sections participation
- Final testan open book 1 hour 20 minute test
Interim Assessment
- 2021/2022 3rd module0.3 * Final test + 0.1 * Mid-term test + 0.2 * Class/sections participation + 0.4 * Final essay and its presentation
