DXE_MAKR Macroeconomics

Faculty of Economics and Administration
Spring 2013
Extent and Intensity
24/0. 12 credit(s). Type of Completion: zk (examination).
Teacher(s)
doc. Ing. Libor Žídek, Ph.D. (lecturer)
Vahagn Jerbashian (assistant), Ing. Miroslav Hloušek, Ph.D. (deputy)
Guaranteed by
prof. Ing. Antonín Slaný, CSc.
Department of Economics – Faculty of Economics and Administration
Contact Person: Bc. Marta Ordeltová
Supplier department: Department of Economics – Faculty of Economics and Administration
Timetable
Mon 8. 4. 11:00–12:30 N, 13:30–15:00 N, Mon 15. 4. 11:00–12:30 N, 13:30–15:00 N, Fri 19. 4. 11:00–12:30 N, 13:30–15:00 N, Mon 22. 4. 11:00–12:30 N, 13:30–15:00 N, Mon 29. 4. 11:00–12:30 N, 13:30–15:00 N, Mon 6. 5. 11:00–12:30 N, 13:30–15:00 N
Prerequisites
The students are expected to be familiar with modern macroeconomic theory and continuous time dynamic optimization algorithms (Hamiltonian).
Course Enrolment Limitations
The course is only offered to the students of the study fields the course is directly associated with.
fields of study / plans the course is directly associated with
Course objectives
The course covers advanced topics from modern economic growth theory. It starts from empirical motivation and offers the first attempts of explaining the phenomena of growth, the neoclassical models such as Solow-Swan and Ramsey (Solow, 1956; Ramsey, 1928). The course, then, confronts the inference from these models with the data and identifies their weaknesses. It proceeds to models which have tried to alleviate those weaknesses. The first set of models which it covers focus on the efficiency growth of the human capital (human capital accumulation), Romer (1986) and Lucas (1988). Romer (1986) highlights the efficiency growth that stems from learning-by-doing (at the workplace) which is a pure externality in its framework. In turn, Lucas (1988) highlights the formal education process. The second set of models focus on R&D driven growth, Romer (1990), Grossman & Helpman (1991), Jones (1995), and Smulders & van de Klundert (1995). Romer (1990) and Jones (1995) have horizontal innovations (i.e., introduction of new goods), while Grossman & Helpman (1991) and Smulders & van de Klundert (1995) have vertical innovations (i.e., quality upgrade of an existing good, productivity upgrade in the production of an existing good).
Syllabus
  • Block 1. 05.03.2012 and 09.03.2012 Brief introduction to growth theory; Solow-Swan and Ramsey neoclassical models; Romer (1986) endogenous growth model •Chapters 1, 2, 3, and 4 from Barro & Sala-i-Martin (2004) Block 2. 12.03.2012 and 23.03.2012 Lucas (1988), Romer (1990), and Jones (1995) models •Chapters 5 and 6 from Barro & Sala-i-Martin (2004) for Lucas (1988) and Romer (1990) Block 3. 26.03.2012 and 02.04.2012 Grossman & Helpman (1991) and Smulders & van de Klundert (1995) models •Chapter 7 from Barro & Sala-i-Martin (2004) for Grossman & Helpman (1991
Literature
  • Main textbook: Barro, R., & Sala-i-Martin, X. (2004). Economic Growth, 2nd ed. MIT Press. or Barro, R., & Sala-i-Martin, X. (1995). Economic Growth, 1st ed. McGraw-Hill. Main articles: Grossman, G., M., & Helpman, E. (1991). Quality ladders in the theory
Teaching methods
lectures
Assessment methods
•There will be only end-term exam o The end-term exam is cumulative (date, time and place TBA). •There will be two home assignments o The fist one is currently scheduled on 13.03.2012 with a deadline 22.03.2012 o The second is currently scheduled on 02.04.2012 with a deadline 12.04.2012 Grading Total grade (100) is comprised of •class participation 3 •home assignments 20 •final exam 77
Language of instruction
English
Further Comments
Study Materials
The course can also be completed outside the examination period.
The course is taught annually.
Teacher's information
http://home.cerge-ei.cz/vahagn/teaching/ADGT.html
The course is also listed under the following terms Spring 2010, Spring 2011, Spring 2012, Spring 2014, Spring 2015, Spring 2016, Spring 2017.
  • Enrolment Statistics (Spring 2013, recent)
  • Permalink: https://is.muni.cz/course/econ/spring2013/DXE_MAKR