Economics

Growth Theories(ECON303)

Course Code Course Name Semester Theory Practice Lab Credit ECTS
ECON303 Growth Theories 5 3 0 0 3 5
Prerequisites
Admission Requirements
Language of Instruction
Course Type Compulsory
Course Level Bachelor Degree
Course Instructor(s) Sahir KARAKAYA skarakaya@gsu.edu.tr (Email)
Assistant
Objective This course aims to lecture principal growth models, and is an introduction to the methods for studying simple deterministic dynamical systems.
Content Introduction to keynesian and neoclassical growth theories.
Course Learning Outcomes 1- To learn necessary tools to study simple dynamical systems.
2- To make an analytical study.
3- To study principal growth models in a critical way in theoretical level.
4- To check the practical validity of these models by testing them by the stylised facts of Kaldor.
Teaching and Learning Methods
References Barro et Sala-i Martin, Economic Growth.
Lecaillon, Macro-dynamique : la croissance.
Chiang, Fundamental methods of mathematical economics.
Sydsaeter, Hammond, Essential mathematics for economic analysis.
Sydsaeter, Hammond, Mathematics for economic analysis.
Simon, Blume, Mathematical economics.
Print the course contents
Theory Topics
Week Weekly Contents
1 Discrete and continuous growth rate. Fundamental knowledge on simple difference equations and differential equations. Interst rate and optimal timing problems.
2 Harrod model for good market in discrete and continuous time. Existence, unicity and stability of equilibrium.
3 Harrod model for factor market, and existence, unicity and stability of equilibrium.
4 Neoclassical production function. Concavity and homogeneity. Inada conditions.
5 Neoclassical model. Simultaneous determination of quantities and prices. Existence of equilibrium growth rate.
6 Neoclassical model. Existence, unicity and stability of equilibrium.
7 Comparative dynamics. Golden rule path.
8 Midterm.
9 Exogenous technical progress and its classifications.
10 Neoclassical model with technical progress. Existence of equilibrium growth rate. Existence, unicity and stability of equilibrium.
11 Comparative dynamics with technical progress. Stylised facts of Kaldor.
12 Absolute and relative convergence. Neoclassical model reconsidered.
13 The work of Mankiw, Romer, Weil. The critic of Paul Romer and the necessity of endogenous technical progress.
14 Endogenous growth of ancient generation: learning by doing I-II.
Practice Topics
Week Weekly Contents
Contribution to Overall Grade
  Number Contribution
Contribution of in-term studies to overall grade 0 0
Contribution of final exam to overall grade 0 0
Toplam 0 0
In-Term Studies
  Number Contribution
Assignments 0 0
Presentation 0 0
Midterm Examinations (including preparation) 21 0
Project 0 0
Laboratory 0 0
Other Applications 0 0
Quiz 0 0
Term Paper/ Project 0 0
Portfolio Study 0 0
Reports 0 0
Learning Diary 0 0
Thesis/ Project 0 0
Seminar 0 0
Other 0 0
Toplam 21 0
No Program Learning Outcomes Contribution
1 2 3 4 5
1 Demonstrate a basic knowledge of different economic theories and main discussions driving current theoretical approaches X
2 Demonstrate ability to use basic qualitative and quantitative methods to asses different economic questions of applied fields X
3 Show a sound understanding of current economic discussions and problems X
4 Have an effective and clear communication in written and oral formats in different public and professional contexts.
5 Demonstrate basic knowledge of the world economic history and a sound knowledge of the Turkish economic history
7 Demonstrate knowledge of standard quantitative techniques and empirical models used in economics
8 Show ability to apply basic economic theory to an applied topic
9 Show a basic understanding of analytical methods, both theory- and model-based X
10 Show ability to use economic concepts to discuss current economic issues X
11 Reason logically and work analytically X
12 Show awareness on social aspects of the economics in different applied and theoretical fields
13 Identify appropriate economic models to analyse problems X
16 Show understanding of basic statistical and econometric concepts and ability to apply basic concepts to own empirical work
17 Demonstrate a sound knowledge of the current economic issues in Turkey and a general knowledge of the issues in the world economy
Activities Number Period Total Workload
Class Hours 0 42 0
Working Hours out of Class 0 42 0
Assignments 0 30 0
Presentation 0 0 0
Midterm Examinations (including preparation) 1 24 24
Project 0 0 0
Laboratory 0 0 0
Other Applications 0 0 0
Final Examinations (including preparation) 0 42 0
Quiz 0 0 0
Term Paper/ Project 0 0 0
Portfolio Study 0 0 0
Reports 0 0 0
Learning Diary 0 0 0
Thesis/ Project 0 0 0
Seminar 0 0 0
Other 0 0 0
Total Workload 24
Total Workload / 25 0,96
Credits ECTS 1
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