Course Overview

Models of the Post-Keynesian Growth Theory (Harrod/Domar Model and Two-Gaps Model) and the neoclassical growth model are discussed in detail. In particular, the determinants “savings” and “population growth” are critically assessed as well as the interdependency of growth and capital imports and foreign trade, respectively. Another focus is set on the analysis of “technological progress” as growth determinant. Subsequent to the theoretical models, problem oriented topics are covered, concentrating on development financing, trade, financial crisis, human capital accumulation, HIV/AIDS and technological progress in developing countries.

Learning Achievement

Qualification targets: The aim of the module is to familiarize students with diverse growth theories and to enable them to classify these approaches with regard to theoretical and empirical relevance for the explanation of success and failure of development Imparted soft skills: Analytical thinking, Independent studying and learning, Critical thinking

Competence

Course prerequisites

Good knowledge of macroeconomics.

Grading Philosophy

100 % Written exam (90 min)

Course schedule

Week1: Introduction Week2: followed by Week3 to the Final Week

Course type

Online Course Requirement

Instructor

Prof. Dr. Wilhelm Löwenstein

Other information

a) Lecture b) Exercise Session Learning material and relevant literature: Acemoglu, D. (2009): Introduction to Modern Economic Growth, Princeton University Press.; Bender, D.; Löwenstein, W. (2005): Two-Gap Models: PostKeynesian Death and Neoclassical Rebirth.; Feenstra, R./Taylor, A., International Economics, 2008.; Krugman, P./Obstfeld, M., International Economics, 7. Auflage, 2006.; Weil, David N. (2009): Economic Growth, 2. Auflage, Pearson Addison-Weasly, Boston. not offered every semester

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