|LEVEL||04 - Years 4, 5 in Modular UG or PG Cert Course|
|DESCRIPTION||The study-unit focuses on the main underpinnings that determine the rate of growth in an economy. In particular the unit seeks to outline the importance of economic growth and how minor changes in the underlying growth rate can have a substantial impact over an economy’s long term trajectory. A number of economic models are covered, with each model explaining particular aspects of the economic growth dimension. The study-unit covers both exogeneous and endogeneous growth models and also seeks to give a background of the growth dynamics registered in the local economy over the last decade.
The aim of this study-unit is to focus on the main underpinnings that determine the rate of growth in an economy.
1. Knowledge & Understanding:
- Introduction to economic growth
- Stylized facts and the economic growth story in Malta over the last decade
- Solow Swan model
- Empirical testing of the Solow Swan model
- Growth accounting
- Ramsey-Cass-Koopmans model
- The Overlapping-Generations model
- New growth theory
- Potential economic growth
By the end of the study-unit the student will have sufficient knowledge in order to appreciate theoretical or empirical contributions in the literature that focus on economic growth. Moreover, the unit instills in students the necessary conceptual paradigm in students to enable them to deal with policy making challenges either if the student opts to pursue an academic career or a professional career.
Main Text/s and any supplementary readings:
- Romer, D. (2006) Advanced Macroeconomics, 3rd edition, McGraw Hill.
- Barro R and X Sala-I-Martin, Economic Growth, McGraw Hill.
- Van den Berg H, Economic Growth and Development¸ Mc Graw Hill.
- De Long & Summers (1991), Equipment investment and Economic growth, The Quarterly Journal of Economics, Vol 106, No. 2, 445-502.
- Glaeser, La Porta, De-Silanes & Shleifer (2004), Do Institutions cause growth?, Journal of Economic Growth, 9, 271-303.
- Kreuger & Lindahl, (2001), Education for growth: Why and for whom?, Journal of Economic Literature, Vol XXXIX, 1101-1136.
- Mankiw, Romer & Weil, (1992), A contribution to the empirics of Economic Growth, The Quarterly Jounral of Economics, Vol 107, 407-437.
- Musso & Westermann (2005), Assessing potential output growth in the Euro Area - a growth accounting perspective, ECB Occasional paper series no. 22
|STUDY-UNIT TYPE||Lecture and Tutorial|
|METHOD OF ASSESSMENT||
Ian P. Cassar (Co-ord.)
The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints.
Units not attracting a sufficient number of registrations may be withdrawn without notice.
It should be noted that all the information in the description above applies to study-units available during the academic year 2020/1. It may be subject to change in subsequent years.