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SCQF Level 10 (Year 4 Undergraduate)
How does the economy grow over time and what determines the rate of growth?What is the optimal rate of growth?Can and should the government intervene to influence the growth process?The aim of this course is to acquaint students with recent developments in economic growth theory and its answers to these important questions, building on the coverage of growth theory in Economics 2 and Topics in Economic Analysis 1, which is a pre-requisite. This means that the course is primarily aimed at Senior Honours students.Other students (e.g. Visiting Undergraduates) interested in taking the course should consult the course organiser.Topics covered include: general equilibrium and growth theory; the neoclassical one-sector (Solow-Swan) and two-sector (Uzawa) models; functional distribution of income; optimal growth, the golden rule; Ramsey utility and dynamic optimisation; exogenous technical progress; endogenous growth theory, AK model; human capital and two sector endogenous growth models; endogenous technical progress; convergence; growth and cycles.
College of Humanities and Social Science
School of Economics
This article was published on Feb 24, 2012