- Stylized facts
- The Solow Model
- Growth accounting and quantitative implications of the Solow model
- Endogenous Growth Models
- What do the data say? Causes of differences in economic performance
The objective of the course is to develop the analytical tools to think about long-run macroeconomic policy issues. It will focus both on models of economic growth and their empirical applications, with particular emphasis on the role of public policies. The course will start with a brief overview of the stylized facts about economic growth. It will then introduce the Solow growth model and will use it to interpret the stylized facts of growth. Then, the course will move on to the quantitative implications of the Solow model and will discuss growth accounting. Finally, it will introduce endogenous growth models and discuss the proximate and fundamental causes of economic development.
The course will discuss both economic theory models and the related empirical evidence in an interconnected way. At the end of the course, students will be able to understand and discuss macroeconomic issues and related policy implications.