Economic Growth and Development
Welcome to Econ 6470. This page links you to the up to date and frequently updated course calendar with links to lecture notes and assignments. See the home page of this web page for my office hours, always confirm appointments by email firstname.lastname@example.org the day of and the day before, as a Chair’s schedule is very unpredictable. My office is in Dealy Hall 527E. Check E530 Dealy just before and after class. A special topic this year is the so-called elephant global growth incidence curve and showing the rise of a new world middle class (the back of the elephant) and the much slower rise in the incomes of the OECD middle class combined with a sharp increase in the incomes of the top 1% (the trunk). Even more dramatic is fall in global poverty to under 10% in 2015 ($1/1.25/1.38 and now $1.90/day poverty measure in 2011 PPP prices, of course). It is impossible to predict how the future will view our era but the recent “miracle” growth rates in developing countries is certainly among remarkable accomplishments of our generation. Since the late 1990s when first Asia then Latin America and Africa all grew at over 5% annually, with China growing at twice that rate. This created the “Elephant” growth incidence curve, which has its ups and downs, but is certainly a welcome sight for development economists. We have certainly made a few errors, but MDG era certainly validates growth and development’s “grand pursuit” boast… Here is last year’s midterm for review purposes…Short in Class final exam Long Final Review vs. 1 PWt 9.0 TFP Data WEO 2017 Midterm version 2 word template Barro & Sala-i-Martin Chapt 2 see p 64 Jones 2nd ed Chapter 5 Jones 2nd ed Chapter 8
ECON 6470 Course Calendar Course Syllabus: Elephant Diagram Intro Lecture PS #2 Inequality and Growth IMF WEO Blog Growth Miracles 2017 Sweatshops in Ethiopia?
PhD & Masters* recommended texts:
Agénor, Pierre-Richard (2004) Economics of Adjustment and Growth, 2nd ed (HUP) 0674015789
Barro, R. & J. Sala-i-Martin (2004) Economic Growth 2nd ed (MIT Press) 0262025531
Acemoglu, Daron (2009) Introduction to Modern Economic Growth, Princeton Univ Press 0691132925
(Chapter 1, 2, & 5 as well as an epilogue or this early pdf draft).
*Jones, Charles & Dietrich Vollrath (2013) Introduction to Economic Growth 3rd edition (W.W. Norton ISBN: 039391917X)
*Aghion, P and P. Howitt (2009) Economics of Growth (MIT Press, Boston) 0262012634
- Part I: Development and Growth: Globalization, Growth and Poverty
- Introduction: Growth and Inequality as captured by the Elephant Growth Incidence Curve
- Africa: From Poverty Trap to Growth Miracle?
- Three Growth Model stories
- Demand & supply side poverty traps
- Population and Sustainable growth
- Inequality and Growth
- Growth Strategies: Institutions, Geography vs. Integration
- Part II: Policies to promote Economic Growth and reduce inequality: the economics of Redistribution
- Growth Accounting and the mystery of TFP growth
- Openness, exchange rates and Growth: Trade, Migration and Growth
- Inclusive growth: finance and growth: financial inclusion and inclusive growth
- Capital Flows: FDI, Debt, Aid and Growth: HIPC
- Valuing Future Generations: Natural Resources, Climate change and long term growth
- Growth case studies: Senegal, Ethiopia, and Nigeria.
Assignments/handouts Growth Econometrics
Course related videos:
This is a Macro Development class, for a complementary micro economics of development