| Course Unit Code | 156-0579/01 |
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| Number of ECTS Credits Allocated | 5 ECTS credits |
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| Type of Course Unit * | Choice-compulsory |
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| Level of Course Unit * | Second Cycle |
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| Year of Study * | |
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| Semester when the Course Unit is delivered | Winter Semester |
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| Mode of Delivery | Face-to-face |
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| Language of Instruction | English |
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| Prerequisites and Co-Requisites | Course succeeds to compulsory courses of previous semester |
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| Name of Lecturer(s) | Personal ID | Name |
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| FIL03 | Ing. Lenka Johnson Filipová, Ph.D. |
| PYT005 | doc. Ing. Mariola Pytliková, Ph.D. |
| SUL0018 | Ing. Jan Šulák, Ph.D. |
| Summary |
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| The course is focused on the expanation of the theories of economic growth and development and their application on the real data of the countries. First, the neo-classical Solow model with its practical application is described, followed by models of a new theory of growth concentrating on human capital and endogenous technological progress. In addition to the traditional proximite factors of economic growth, the course deals with the fundamental factors of economic growth, including path dependence, institutions, culture and geographic factors. |
| Learning Outcomes of the Course Unit |
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- understanding of models of economic growth (Solow model, new theory of growth)
- understanding of the differences between proximite and fundamental factors of economic growth in the countries
- the ability to explain the causes of differences in the economic level of the countries, both in terms of historical development and current problems
- ability to describe and explain the impact of geographical, cultural and institutional factors of economic growth
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| Course Contents |
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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. |
| Recommended or Required Reading |
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| Required Reading: |
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ACEMOGLU, D. Introduction to Modern Economic Growth. Princeton: Princeton University Press, 2009. ISBN: 978-0-691-13292-1.
CAMERON, R. and Larry NEAL. A Concise Economic History of the World. 5th ed. Oxford: Oxford University Press, 2016. ISBN: 9780199989768.
VAN DEN BERG, H. Economic Growth and Development. London: World Scientific Publishing Co., 2017. 978-981-4733-33-5. |
ACEMOGLU, D. Introduction to Modern Economic Growth. Princeton: Princeton University Press, 2009. ISBN: 978-0-691-13292-1.
CAMERON, R. and Larry NEAL. A Concise Economic History of the World. 5th ed. Oxford: Oxford University Press, 2016. ISBN: 9780199989768.
VAN DEN BERG, H. Economic Growth and Development. London: World Scientific Publishing Co., 2017. 978-981-4733-33-5. |
| Recommended Reading: |
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BAUMOL, W. J., LITAN, R. E. and Carl J. SCHRAMM. Good Capitalism, Bad Capitalism and the Economics of Growth and Prosperity. New Haven: Yale University Press, 2007. ISBN: 978-0-300-10941-2.
RODRIK, D. One Economics, Many Recipes. Globalization, Institutions, and Economic Growth. Princeton: Princeton University Press, 2007. ISBN: 13 978-0-691-12951-8.
WEIL, D. N. Economic Growth. 3rd ed. Harlow: Pearson, 2013. ISBN: 9780273775348.
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BAUMOL, W. J., LITAN, R. E. and Carl J. SCHRAMM. Good Capitalism, Bad Capitalism and the Economics of Growth and Prosperity. New Haven: Yale University Press, 2007. ISBN: 978-0-300-10941-2.
RODRIK, D. One Economics, Many Recipes. Globalization, Institutions, and Economic Growth. Princeton: Princeton University Press, 2007. ISBN: 13 978-0-691-12951-8.
WEIL, D. N. Economic Growth. 3rd ed. Harlow: Pearson, 2013. ISBN: 9780273775348.
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| Planned learning activities and teaching methods |
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| Lectures, Tutorials |
| Assesment methods and criteria |
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| Tasks are not Defined |