Undergraduate Course: Capital and Growth Theory (ECNM10006)
Course Outline
| School | School of Economics |
College | College of Humanities and Social Science |
| Credit level (Normal year taken) | SCQF Level 10 (Year 4 Undergraduate) |
Availability | Available to all students |
| SCQF Credits | 20 |
ECTS Credits | 10 |
| Summary | How does the economy grow over time? What determines the rate of growth and the functional distribution of income (the division of GNP between wages and profits)? What is the optimal rate of growth? Can and should the government intervene to influence the growth process? The aim of this course is to acquaint students with recent developments in economic growth theory and its answers to these important questions, building on the coverage of economic analysis in years 1 and 2. |
| Course description |
Topics covered include: general equilibrium and growth theory; the neoclassical one-sector (Solow-Swan) and two-sector (Uzawa) models; functional distribution of income; optimal growth, the golden rule; Ramsey utility and dynamic optimisation; exogenous technical progress; endogenous growth theory, AK model; human capital and two sector endogenous growth models; endogenous technical progress; Schumpeterian growth theory; economic growth and the environment. .
The course is taught through a programme of lectures. Learning-by-doing, through groupwork and presentations, is an important ingredient of the course.
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
Students MUST have passed:
Economics 2 (ECNM08006)
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Co-requisites | |
| Prohibited Combinations | |
Other requirements | Economics Honours entry or permission of the course organiser. |
| Additional Costs | None |
Information for Visiting Students
| Pre-requisites | None |
| High Demand Course? |
Yes |
Course Delivery Information
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| Academic year 2015/16, Available to all students (SV1)
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Quota: None |
| Course Start |
Semester 2 |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
200
(
Lecture Hours 16,
Summative Assessment Hours 5,
Programme Level Learning and Teaching Hours 4,
Directed Learning and Independent Learning Hours
175 )
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| Assessment (Further Info) |
Written Exam
90 %,
Coursework
10 %,
Practical Exam
0 %
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| Additional Information (Assessment) |
Teamwork 10%
Multiple choice examination 20%
Degree examination in April/May 70% |
| Feedback |
Not entered |
| Exam Information |
| Exam Diet |
Paper Name |
Hours & Minutes |
|
| Main Exam Diet S2 (April/May) | | 2:00 | |
Learning Outcomes
On completion of this course, the student will be able to:
- A knowledge and understanding of key issues in the analysis of economic growth, including principles, models and associated mathematical techniques, along with applications and policy implications of those models and a deeper understanding of recent research activity in some more specialised areas.
- Research and investigative skills such as problem framing and solving and the ability to assemble and evaluate complex evidence and arguments.
- Communication skills in order to critique, create and communicate understanding and to collaborate with and relate to others.
- Personal effectiveness through task-management, time-management, teamwork and group interaction, dealing with uncertainty and adapting to new situations, personal and intellectual autonomy through independent learning.
- Practical/technical skills such as, modelling skills (abstraction, logic, succinctness), qualitative and quantitative analysis and general IT literacy.
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Reading List
There is no single textbook for the course, but extensive use will be made of:
Barro, R J and X Sala-i-Martin (2004) Economic Growth (2nd ed.), MIT Press
Aghion, P and P. Howitt, (2009) The Economics of Growth, MIT Press
George, D A R, L T Oxley and K I Carlaw (eds) (2004) Surveys in Economic Growth: Theory and Empirics, Blackwell.
Further readings will be provided for each topic. |
Additional Information
| Graduate Attributes and Skills |
See Learning Outcomes |
| Keywords | CGT |
Contacts
| Course organiser | Mr Donald George
Tel: (0131 6)50 3849
Email: |
Course secretary | Ms Dawn Hutcheon
Tel: (0131 6)51 5958
Email: |
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