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Description of Individual Course Units
| Course Unit Code | Course Unit Title | Type of Course Unit | Year of Study | Semester | Number of ECTS Credits |
|---|---|---|---|---|---|
| 1301007742012 | ECONOMIC GROWTH | 4 | 7 | 5,00 |
Level of Course Unit
Lisans
Language of Instruction
English
Objectives of the Course
The objective of the course is to provide undergrad students with a sound understanding of economic growth phenomenon including mathematical foundations by studying quantitatively the contemporary economic growth theories.
Name of Lecturer(s)
Learning Outcomes
| 1 | Understanding long term economic growth phenomenon |
| 2 | The skills to use at basic level quantitative methods in the analysis of economic growth |
| 3 | The Analytical thinking and problem solving skills. |
Mode of Delivery
Face to Face
Prerequisities and Co-Requisities
Mathematical Economics (recommended)
Recommended Optional Programme Components
None
Content of the Course
Stylized Facts of Economic Growth, Neoclassical Growth Theory, Solow Growth Model, Economic Growth with Human Capital, Convergence and Divergence Issues, The Economics of Ideas, Natural Resources and Economic Growth, Understanding Economic Growth
Weekly Detailed Course Contents
| Week | Subjects (Theoretical) | Teaching Methods | Preparatory |
|---|---|---|---|
| 1 | Understanding Economic Growth Stylized Facts of Economic Growth Growth and Development Data, Other Stylized Facts. Why are we so poor, they so rich? What is the Engine of Growth? How do we Understand Growth Miracles? | ||
| 2 | A Review of Some Quantitative Methods in Growth Studies | ||
| 3 | Neoclassical Growth Theory: Basic Solow Growth Model (without Technological Change) Solving the Basic Solow Model, Solow Diagram, Comparative Statics Analysis, The Properties of Steady State, Economic Growth in the Basic Model | ||
| 4 | Solow Growth Model and Technological Change Solow Diagram with Technological Change, Solving the Model for Steady State, The Evaluation of Solow Model, Growth Accounting, Productivity Slowdown and New Economy | ||
| 5 | Economic Growth with Human Capital (Extended Solow Model) Mankiw-Romer-Weil Model, A Comparison with Solow Model | ||
| 6 | Convergence and Divergence Issues Explaining the Differences between Economic Growth Rates, The Evolution of Income Distribution | ||
| 7 | Midterm Exam | ||
| 8 | The Economics of Ideas What is technology? The Economics of Ideas, Intellectual Property Rights and Industrial Revolution, Data on Ideas | ||
| 9 | İçsel Büyüme Kuramları The Endogenous Growth Theories Growth in Romer Model, Growth Effects versus Level Effects, Comparative Static Analysis: A Permanent Increase in the R&D Share | ||
| 10 | The Economics of the Romer Model The Final Goods Sector, The Intermediate Sector, The Research Sector, Solving the Model | ||
| 11 | A Simple Endogenous Growth Model Basic Model, Steady State Analysis , Technology Transfer, Understanding the Differences in Growth Rates | ||
| 12 | Sosyal Altyapı ve Uzun Dönem İktisadi Büyüme Social Infrastructure and Long-Run Economic Growth A Business Environment Problem, The Determinants of F, The Determinants of Π, The Choice of Social Infrastructure, Growth Miracles and Disasters | ||
| 13 | Alternative Endogenous Growth Theories Rebello’s AK Model, Other Growth Models | ||
| 14 | Natural Resources and Economic Growth Land in Solow Model, Non-Renewable Resources, Prices as an Indicator of Scarcity | ||
| 15 | Final Exam |
Text Book / Material / Recommended Resources
Acemoglu, D. (2008) Introduction to Modern Economic Growth, Princeton University Press. Jones, C and Detirch, V. (2013) Introduction to Economic Growth, 3rd ed., WWNorton and Company, New York. Weil, D.N. (2008) Economic Growth, 2nd Edition, Addison Wesley.
Planned Learning Activities and Teaching Methods
Assessment Methods and Criteria
| Term (or Year) Learning Activities | Quantity | Weight |
|---|---|---|
| Midterm Examination | 1 | 100 |
| Total | 100 | |
| End Of Term (or Year) Learning Activities | Quantity | Weight |
| Final Examination | 1 | 100 |
| Total | 100 | |
| Term (or Year) Learning Activities | 40 | |
| End Of Term (or Year) Learning Activities | 60 | |
Work Pacement(s)
None
Workload Calculation
| Activities | Number | Time (hours) | Total Work Load (hours) |
|---|---|---|---|
| Midterm Examination | 1 | 2 | 2 |
| Final Examination | 1 | 2 | 2 |
| Total Work Load (hours) | 4 | ||
Contribution of Learning Outcomes to Programme Outcomes
| PO 1 | PO 2 | PO 3 | PO 4 | PO 5 | PO 6 | PO 7 | PO 8 | PO 9 | PO 10 | PO 11 | PO 12 | PO 13 | |
| LO 1 | 5 | 5 | 5 | 5 | 3 | 5 | 2 | 5 | 1 | 5 | |||
| LO 2 | 4 | 5 | 5 | 5 | 3 | 5 | 2 | 5 | 1 | 5 | |||
| LO 3 | 4 | 5 | 5 | 3 | 5 | 2 | 5 | 1 | 5 |
* Contribution Level: 1 Very low 2 Low 3 Medium 4 High 5 Very High