The course is meant to provide a sound understanding of the mutual interactions between macroeconomic facts, notably growth, and political and economic institutions, with a specific focus on Emerging Economies. Learning outcomes. Knowledge You learn • Which are the facts that describe growth in an international perspective.
• What are the the economic drivers behind long-run growth? • What is the role of institutions? • What are the implications for the Emerging Economies?
Skills You should be able to
• explain how national economies have evolved historically since the onset of the Industrial Revolution.
• Understand the key challenges that Emerging Economies are typically confronted with. • Understand the nature of local bottlenecks that hamper prosperity in specific countries. • Identify and competently advocatee schemes for policy reform • Read and understand research papers on the topics of this course
Classroom lectures, with slides presentations and classroom discussion. Students' presentations.
Verifica Apprendimento
1) written exam, the student is asked to answer 4 equally-weighted open questions, which matter for 50% of the final mark. 2) students’ presentations on assigned topics (50% of the final mark). Students may choose to sit an intermediate (mid-term) exam. The date of the intermediate exam and its specific features will be announced at the beginning of the course.
Testi
Ashraf, Q. H., & Weil, D. N. (2024). Economic growth. Taylor & Francis. Slides and other materials downloadable from the course webpage (KIRO)
Contenuti
1. Introduction Empirical Evidence and Data Analysis (ch. 1 & 2)
2. Drivers / determinants of economic growth & prosperity a. Factor accumulation (Capital – ch. 3; labor – ch. 4&5; human capital – ch. 6) b. Technology (ch. 7 & 8)
3. Fundamentals a. Institutions (ch. 12) b. Culture, geography etc. (ch. 14 & 15)
4. Challenges of Emerging economies a. Efficiency (ch. 10) b. Economic complexity c. Volatility & Macro-Imbalances
5. Topics a. Inequality (ch. 13) b. Growth Diagnostics & policy implications c. Remoteness d. Globalisation and growth in open economies i. International trade flows. Facts and theories ii. International capital flows. Facts and theories iii. Growth in open economies (ch. 11) iv. Return to protectionism? Is globalisation over? e. Environmental sustainability (ch. 16) i. The trade-offs between growth and environmental conservation ii. Green technologies and sustainable practices iii. Policy measures to promote sustainable development f. Doing business in emerging economies