Introductory description

The module surveys the causes and consequences of economic growth and development over the last centuries. Topics include the analysis of climate, geography, institutions, human capital and technology on long-run growth.
The module provides an introduction to theory and empirics of economic growth, blending textbook treatment with top-notch research papers. A special feature is the use of the GrowthChat podcasts which Marco Lecci and I recorded during the pandemic, where we interviewed leading academics about their research that is covered in the module.

Module aims

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

The module will typically include some of the following topics:

1 Stylized Facts and Framework for Analysis
2 Refresher Solow Model
3 Human Capital
4 Measuring Productivity
5 Technology & Open Economy
6 Government presentation
7 Income Inequality
8 Culture
9 Geography, Climate, Natural Resources
10 Resources and the Environment at Global Level

Learning outcomes

By the end of the module, students should be able to:

• 1. understand the causes and consequences of economic growth
• 2. critically examine the major explanations of the dynamics of growth over the last centuries
• 3. critically evaluate and effectively communicate current debates on the causes and consequences of economic growth
• 4. acquire an historical understanding of current economic circumstances

Indicative reading list

Ashraf/Weil "Economic Growth", 4th edition will be the textbook.

Selection of research papers covered:
Andrea Matranga about the Invention of Agriculture
GrowthChat episode: https://www.youtube.com/watch?v=_T5KogLrEpo
Link to paper: https://doi.org/10.1093/qje/qjae012

Stelios Michalopoulos (and co-author) about the Long-Run Effects of the Scramble for Africa
GrowthChat episode: https://www.youtube.com/watch?v=-9dF6ybAsTs
Link to paper: https://www.aeaweb.org/articles?id=10.1257/aer.20131311

Melissa Dell on the Persistent Effect of Peru’s Mining Mita
GrowthChat episode: https://www.youtube.com/watch?v=B2TRceOBT-0
Link to paper: https://doi.org/10.3982/ECTA8121

Research element

The essay will require students to read, understand, and summarize research, which itself is a research skill.

International

The scope of the module is international by definition, as students will learn why some countries are rich and others are poor.

Subject specific skills

Understanding the statistics related to growth
Concepts of Simultaneity and Endogeneity
Analytical reasoning
Critical thinking
Problem-solving
Policy evaluation

Transferable skills

Research skills
Numeracy and quantitative skills
Data-based skills
IT skills
Written communication skills
Oral communication skills
Team work skills
Mathematical, statistical and data-based research skills