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. |
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 |
| Midterm Examinations (including preparation) | 1 | 24 | 24 |
| Final Examinations (including preparation) | 0 | 42 | 0 |
| Total Workload | 24 | ||
| Total Workload / 25 | 0,96 | ||
| Credits ECTS | 1 | ||