UCL - Growth and Development

[ECGE1216]

[30h] 5 credits

This course is taught in the 1st semester.

Teacher(s): David De la Croix

Language: French

Level: First

Aims
Main themes
Content and teaching methods
Other information (prerequisite, evaluation (assessment methods), course materials recommended readings, ...)

Aims

Over the last twenty years, understanding of the mechanisms underlying the process of growth and development has developed considerably. This Growth and Development course aims to make students familiar with the principal mechanisms invoked in the literature, and related empirical data. By the end of the course, the student should be able to distinguish the contributions of the various models and discuss the factors underlying divergences in revenue between countries.

Main themes

Traits fundamental economic growth, covering a dual aspect: the transition to a world of growth (industrial revolution and demographic transition), and the income disparities between countries. In addition to the dimen-sion of per capita income, should be addressed demographic aspects, technological, distribution of income and gender egalities.

The various models: Malthus (non-growth), neoclassical growth, endogenous growth.

The factors of growth and development policy: the capital and development assistance, technology, human capital and education, birth control, and institutions (corruption, social fragmentation, democracy).

Content and teaching methods

The course addresses the question of economic development and growth from two angles: the temporal dimen-sion which analyzes the takeoff and the growth of developed countries during the last centuries; appearance snapshot which focuses on the existing differential development between rich and poor.
In a first step we will consider a series of data relating to the evolution of income and of the population on long period, as well as other aspects of the development process.
A second step is devoted to analysis of development mechanisms, including the model of stagnation - model Mathusien, the model of growth of classic Solow model and the endogenous growth with human capital.
In a third and final stage, we detail a series of factors considered important for growth: savings, technical pro-gress, education, institutions.

Other information (prerequisite, evaluation (assessment methods), course materials recommended readings, ...)

Course entry requirements: Students should have taken the Political Economics course
Course materials: for information only, suggested references:
C. Jones, Théorie de la croissance endogène, De Boeck Université, 2000
W. Easterly, The Elusive Quest for Growth, Economists' Adventures and Misadventures in the Tropics, MIT Press, 2002
A. Maddison, The World Economy, A millennial perspective, OECD, 2001