Theory and evidence relating to economic growth, including physical and human capital accumulation, population, technological change, institutions, and government.
Econ 432 students will be able to
- Adjust values in one currency to values in another currency controlling for purchasing power parity (PPP) deviations.
- Demonstrate an understanding of basic dynamic models of economic growth, including:
- The Solow model
- The Solow model with population growth
- The Harrod-Domar model
- AK models
- Models of product variety
- Schumpeterian models.
- Discuss growth and development accounting, and decompose observed differences across countries into efficiency and technology components.
- Discuss Lorenz curves and Gini coefficients.
- Discuss how growth interacts with:
- Population & demography
- Human capital
- Technical progress
- Geography, Climate & Resources.