Бакалавриат 2020/2021

Экономический рост и цикл

Статус: Курс по выбору (Мировая экономика)

Направление: 38.03.01. Экономика

Кто читает: Департамент мировой экономики

Где читается: Факультет мировой экономики и мировой политики

Когда читается: 3-й курс, 1, 2 модуль

Формат изучения: без онлайн-курса

Преподаватели: Макарова Екатерина Александровна

Язык: английский

Кредиты: 4

Контактные часы: 44

Course Syllabus

Abstract

Economic Growth and Cycle The course focuses on the sources of and obstacle to sustainable economic growth in different countries. Why some economies grow constantly and others don’t? Are crises necessary for economy? What are the most efficient policy responses to crisis? Are any limits to growth? How to overcome them? The course seeks to investigate alternative answer to these questions. Moreover, within the course case studies of major economies “growth pathway” and “anatomy” of some significant crises are analyzed. The course enables to understand: • basic growth theories • specific features of some national growth models • basic models of business cycle • measures of crisis management on different levels

Learning Objectives

• To understand: • basic growth theories • specific features of some national growth models • basic models of business cycle • measures of crisis management on different levels • growth pathways for different types of economies

Expected Learning Outcomes

• Understand the main steps in growth theory development, is able to calculate growth rates and input of different factors in overal growth

Course Contents

• Introduction. Economic growth: stylized facts
  1) Economic growth in historical perspective 2) Stylized facts: from Kaldor to Easterly 3) Patterns of economic growth 4) Convergence vs divergence 5) Growth accounting
• Models of economic growth
  1) Neoclassical growth model 2) Models of endogenous growth 3) AK Model 4) Growth model with human capital
• Growth and trade. Limits to growth
  1) International trade in growth models 2) Scarcity of resources: energy, water, food, financial and human capital 3) Sustainable development model (strong and weak sustainability) 4) Middle income trap
• Theory of business cycle and economic crisis
  1) Evolution of economic cycle theory 2) RBC model 3) DSGE model 4) Types of economic crisis 5) Crisis as a creative destructor
• Crisis management on different levels
  1) Institutions and economic growth and cycle 2) Firms’ and householders’ respond to crisis 3) Crisis-management at national level 4) Role of international institutions in crisis-management 5) Crisis transmission
• Economic growth and cycle case studies
  1) Fluctuations in EU 2) Japanese economy 3) Growth and crises in USA, BRICS and Latin America
• Financial crises types and implications
  1) Case study of Great Depression 2) Dot-coms crisis 3) Great Recession

Assessment Elements

• quizzes at seminars
• Essay
• Written exam

Interim Assessment

• Interim assessment (2 module)
  0.3 * quizzes at seminars + 0.3 * Essay + 0.4 * Written exam

Bibliography

Recommended Core Bibliography

• Economic growth, Barro, R. J., 2004

Recommended Additional Bibliography

• Acemoglu, D. (DE-588)124929575, (DE-576)173178197. (2009). Introduction to modern economic growth / Daron Acemoglu. Princeton, N.J. [u.a.]: Princeton Univ. Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edswao&AN=edswao.284986100
• CRISTESCU, A., & TÎLVĂR, G. (2019). The main factors of economic growth in the European Union. Theoretical & Applied Economics, 26(3), 5–20. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=bsu&AN=138993619
• Introduction to economic growth, Jones, C. I., 2002