EC243-15 Economic Growth: Causes and Consequences
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
The module aims to enhance students' understanding of why some countries are rich whilst others are poor. It aims to provide theoretical and empirical underpinnings of the causes and consequences of economic growth.
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. examine the major explanations of the dynamics of growth over the last centuries
- 3. 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
Study time
| Type | Required |
|---|---|
| Lectures | 10 sessions of 2 hours (13%) |
| Seminars | 8 sessions of 1 hour (5%) |
| Private study | 122 hours (81%) |
| Total | 150 hours |
Private study description
Private study will be required in order to prepare for interactive lecture, to do the required readings, to prepare for forthcoming assessments, and to undertake wider reading around the subject.
Costs
No further costs have been identified for this module.
You do not need to pass all assessment components to pass the module.
Assessment group D1
| Weighting | Study time | Eligible for self-certification | |
|---|---|---|---|
| Online Quizzes | 30% | No | |
|
60 minute Moodle quiz within a set 24 hour window. 4 quizzes in total - 7.5% each. |
|||
| Group Presentation | 25% | No | |
| Individual spoken assessment (in-person oral exam) | 45% | No | |
Assessment group R1
| Weighting | Study time | Eligible for self-certification | |
|---|---|---|---|
| Individual spoken assessment (in-person oral exam) | 100% | No |
Feedback on assessment
The Department of Economics is committed to providing high quality and timely feedback to students on their assessed work, to enable them to review and continuously improve their work. We are dedicated to ensuring feedback is returned to students within 20 University working days of their assessment deadline. Feedback for assignments is returned either on a standardised assessment feedback cover sheet which gives information both by tick boxes and by free comments or via free text comments on tabula, together with the annotated assignment. For tests and problem sets, students receive solutions as an important form of feedback and their marked assignment, with a breakdown of marks and comments by question and sub-question. Students are informed how to access their feedback, either by collecting from the Undergraduate Office or via tabula. Module leaders often provide generic feedback for the cohort outlining what was done well, less well, and what was expected on the assignment and any other common themes. This feedback also includes a cumulative distribution function with summary statistics so students can review their performance in relation to the cohort. This feedback is in addition to the individual-specific feedback on assessment performance.
Pre-requisites
EC106-30 and EC107-30 OR
EC108-30 and EC109-30
To take this module, you must have passed:
Courses
This module is Optional for:
- Year 2 of UIPA-L1L8 Undergraduate Economic Studies and Global Sustainable Development
- Year 2 of UECA-3 Undergraduate Economics 3 Year Variants
- Year 2 of UECA-LM1D Undergraduate Economics, Politics and International Studies
-
UPHA-L1CA Undergraduate Economics, Psychology and Philosophy
- Year 3 of L1CA Economics, Psychology and Philosophy
- Year 3 of L1CC Economics, Psychology and Philosophy (Behavioural Economics Pathway)
- Year 3 of L1CD Economics, Psychology and Philosophy (Economics with Philosophy Pathway)
- Year 3 of L1CE Economics, Psychology and Philosophy (Philosophy and Psychology Pathway)
- Year 3 of L1CF Economics, Psychology and Philosophy (Tripartite Pathway)
-
UPHA-L1CB Undergraduate Economics, Psychology and Philosophy (with Intercalated Year)
- Year 2 of L1CG Economics, Psychology and Philosophy (Behavioural Economics Pathway) (with Intercalated Year)
- Year 2 of L1CH Economics, Psychology and Philosophy (Economics with Philosophy Pathway) (with Intercalated Year)
- Year 2 of L1CJ Economics, Psychology and Philosophy (Philosophy and Psychology Pathway) (with Intercalated Year)
- Year 2 of L1CK Economics, Psychology and Philosophy (Tripartite Pathway) (with Intercalated Year)
- Year 2 of L1CB Economics, Psychology and Philosophy (with Intercalated Year)
- Year 2 of L1CB Economics, Psychology and Philosophy (with Intercalated Year)
- Year 2 of ULNA-R1L5 Undergraduate French and Economics (3 year)
- Year 2 of ULNA-R2L4 Undergraduate German and Economics (4-year)
- Year 2 of ULNA-R9LA Undergraduate Modern Languages and Economics (3-year)
- Year 2 of UPHA-V7ML Undergraduate Philosophy, Politics and Economics