Growth and Distribution I: Theory - Einzelansicht

Lecture: Thursday, 10.15-11.45 am, online via Zoom (link in the moodle course)

Tutorial: Tuesday, 12.15-13.45 pm, online via Zoom (link in the moodle course)

Moodle: regular uploads, password: Ramsey21

Description:
The course is open for M.A.and Ph.D. students. The objective of the course is to give an overview over
modern theories of economic growth. The formal presentation uses the continuous–time framework
in order to equip the students with the formal tools required to analyze continuous–time economic
dynamics. Besides looking at growth models, the lecture addresses also related topics like the
distribution of wealth and income, exhaustible resources and stochastic growth models. The lecture
is accompanied by a tutorial. (Credits: Lecture: 6 ECTS / Tutorial: 6 ECTS)

Contents:
– Formal Prerequisites: Differential Equations and Theory of Optimal Control
– The Neoclassical Growth Model
– The Ramsey Model
– First Generation Models of Endogenous Growth
– Second Generation Model of Endogenous Growth
– Stochastic Growth

The following two books cover most of the topics addressed in the lecture:

Acemuglu, D., (2009), Introduction to Modern Economic Growth (Princeton University Press).
Barro, R. & Sala-i Martin, X., (2004), Economic Growth (MIT–Press), 3rd edn.

Further references and recommendations for further reading will be given during the course.

Exam