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Economic growth and development

Type of study Follow-up Master
Language of instruction Czech
Code 114-0479/01
Abbreviation ERR
Course title Economic growth and development
Credits 5
Coordinating department Department of Economics
Course coordinator doc. Ing. Jan Janků, Ph.D.

Subject syllabus

1. Explanation of basic economic terms such as economic growth and development; theories focused on economic growth; the Solow´s growth model.
2. New theory of growth - Models with large definition of capital: AK models, capital externalities (Romer 1986), model with human capital accumulation (Robert E. Lucas 1988) and model of Mankiw, Romer and Weil (1992).
3. New theory of growth - Models with endogenization of technological progress: Paul M. Romer (1990), R&D models, models of Schumpeterian growth.
4. Proximite (human and physical capital, technological progress) and fundamental factors of economic growth - path dependence, geographical factors, culture, institutions.
5. Path dependence, 3 periods of economic development (Malthusian trap, industrial revolution, great divergence).
6. Brief economic history of Europe, Africa, America and Asia until the 20th century.
7. 20th century – till present: Great Divergence - century of rapid change in economic growth and development of regions. Characteristics of the causes of these changes. Characteristics and comparison of economic development and long-term growth of advanced economies, emerging economies and poor economies.
8. 20th century – till present: Great Divergence - continuation
9. Geographical factors of economic growth – Nature, climate and location as a fundamental factor of economic growth and development, models.
10. Models of cultural impact on the long-term economic growth and development.
11. Political economics of growth. Institutions, political regimes and their impact on economic growth.
12. Models of income inequality and poverty impact on economic growth and development.
13. Globalization and its impact on economic development, theories of impact of globalization on economic growth of developing countries.
14. Global solutions of economic development, efficiency of development aid – institutions, policies, targets and instruments.

Literature

ACEMOGLU, D. Introduction to modern Economic Growth. Princeton: Princeton University Press, 2009. 990 p. ISBN: 978-0-691-13292-1.
SCHWAB, Klaus and Peter VANHAM. Stakeholder Capitalism: A Global Economy that Works for Progress, People and Planet. Hoboken, New Jersey: Wiley, 2021. 304 p. ISBN 978-1119756132 .
WEIL, David N. Economic Growth. London: Routledge, 2019. 586 p. ISBN 978-0321795731 .

Advised literature

BERNARDELLI, Michal et al. Economic Growth and Convergence. Global Analysis through Econometric and Hidden Markov Models. London: Routledge, 2021. 196 p. ISBN 9780367774905 .
CAMERON, Rondo and Larry NEAL. A Concise Economic History of the World. 5th ed. Oxford: Oxford University Press, 2016. ISBN: 9780199989768 .
UNDP (United Nations Development Programme). 2022. Human Development Report 2021-22: Uncertain Times, Unsettled Lives: Shaping our Future in a Transforming World. New York.