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Darryl Mcleod

Fordham Department of Economics

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Econ6470

Fall 2021 Course Calendar

ECON 6470 Econ Growth & Development 

  ECON 6470 Growth & Devel Course Syllabus

Welcome to Econ 6470. Here is the Fall 2020 Syllabus  This page links you to the up to date and frequently updated course calendar with links to lecture notes and assignments.   Growth and Development Books Fall 2020N

Confirm appointments: mcleod@fordham.edu the day of and the day before.  Office: Dealy E527   Webex Makeup Class 

Special Guest Speaker Nov 23rd Nora Lustig, Founder of CEQ

We are so fortunate our alumni including Marcelo La Fleur (UNDP DESA) and Senior Economists Elitza Mileva and Maria Davalos. Dr Mileva defended her  2017 6.4% Growth forecast for China (the actual rate was 6.6% see her WB report)  Maria presented the results of an extremely interesting and data intensive study of migration from Africa to Europe…

As you know two growth and development economists share the 2018 the Nobel Prize, Paul Romer and  William Nordhaus (see the DICE vs. the IAMs model below).  As it happens Mechry Etolba and I were in Paul Romer’s office more or less the day he was fired (whose mistake was that?).  To be fair, Romer admits he fouled up in questioning the Doing Business indicators (by far the World Bank-IFC’s most famous indicators).  Many well informed economists see corruption behind every claim and/or government decision.  Corruption and violence are certainly serious problems, but just look at the history of New York or Illinois (even recent history…).

Manufacturing in Africa?   

WSJ Cashews gif   This created the “Elephant” growth incidence curve, certainly a welcome sight for development economists, and see Baldwin’s the Great Convergence, value chains driven by costless flows of information and tight immigration.

Growth Models to Development Strategies 

Mexico’s Paradox (Demand side Poverty Traps?)

Who won NAFTA 2.0 negotiations? See the bottom of this page for the most watched development videos ever (the President of Ghana has stolen the crown from the FT’s Lewis turning point)  The Facts of Economic Growth

Here is Chapter 2 of Aghion and Howitt posted at Brown University. 

Did it’s new leader Change Ethiopia?        Social Europe: Living wages in global supply chains. 

“grand pursuit” …  PWt 9.0 TFP Data    WEO April 2018      Barro & Sala-i-Martin Chapter 2 see p 64     Jones 2nd ed Chapter 5      Do Insitutions Cause Growth   Jones 2nd ed Chapter 8


     World Bank Human Capital Index      Middle class now 1/2 of world population    Max Roser What do do when extreme poverty reaches 5%?
  Cashews in Vietnam    (text video left)     Ortega and Peri, 2014 
 Building an IAMS  vs.  The DICE Model     
  WB Gender and Economic Growth   

Lectures: See 2020 Syllabus

Assignments/handouts    labor share debate   mankiw on r>g 

Russia Demographics and Growth     Jones Population Growth slides

Other topical books and references

Longer video on China’s demographic shift (15 minutes) 

Ethiopia’s Great Run WB Facebook video 

Course related videos: China at a Lewis Turning Point? (3 minute summary…)   IMF F&D on the same Topic 

Ghanaian President Shocks French President With Brave Speech
3.440M views as of December 2017 President Macron of France & President Akufo-Addo of Ghana at a joint press conference #africanleadershipseries  #africanspeeches #speeches      We want to build a Ghana beyond Aid

Lewis Turning Point Video(thank you FT, but why not make it public?)

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Ethiopia’s Great Run
Is Africa the next China? Economist video April 7th 2020

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