ECON 137: ECONOMIC GROWTH AND UNEMPLOYMENT
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DEPARTMENT OF ECONOMICS
ECON 137: ECONOMIC GROWTH AND UNEMPLOYMENT
Calalog Description: This course studies two central questions in macroeconomics: economic growth and unemployment. For each topic, the discussion begins with understanding the historical data and stylized facts. Theoretical models that analyze economic growth and unemployment are examined. The empirical relevance and policy implications ofthese models are then investigated.
Prerequisites: Econ 105A or consent ofthe instructor
Texts: (* indicates the most useful reference(s); Jones and Vollrath is an excellent textbook, although more mathematical/advanced)
Weill, David, Economic Growth, 3rd edition, 2016 Routledge*
Williamson, Stephen, Macroeconomics, 6th edition, 2018 Pearson
Jones and Vollrath, Economic Growth, 3rd edition, 2013 Norton*
Lectures: I will post the recording for each day’s lecture. Recordings will be available up until the end of course. These recordings, as well as any materials for the course, are subject to copyright. Therefore, these materials are for your use only and may not distributed in any way.
Grading:
Homework Assignments 20%
First Midterm Exam 20%
Second Midterm Exam 20%
Final Exam 40%
• There will be several homework assignments for this course. Each assignment will help you further understand the materials to be covered by each test.
• If you miss either midterm examfor any reason, then the final exam will count for 60% of you grade.
• If you miss both midterm examsfor any reason, then the final exam will count for 80% of you grade.
• There will be no alternate or make-up final exam.
Course Outline: (The textbooks chapters and references from journals are included below each course chapter; an asterisk * indicates to the most important reference(s) and recommended reading.)
• Chapter 1: The Facts ofEconomic Growth
-Weil, Chapter 1*
-Jones, Chapter 1*
-Paul Krugman, “The Myth ofAsia’s Miracle”, Foreign Affairs, 1994. (Available on ilearn.)*
• Chapter 2: The Solow Model
-Weil, Chapters 3-4*
-Jones, Chapter 2
-Williamson, Chapter 7
• Chapter 3: Growth Accounting and Applications ofthe Solow Growth Model -Weil, Chapter 7*
-Williamson, Chapter 7
-Paul Krugman, “The Myth ofAsia’s Miracle”, Foreign Affairs, 1994. (Available on ilearn.)*
• Chapter 4: Growth Theories ofEndogenous Growth: The AK model, Learning-by-doing, human capital and R&D
-Weil Chapters 6-8-9*
-Jones Chapters 3-4-5
-Williamson, Chapter 8
• Chapter 5: Classical labor economics: Challenges and shortcomings
• Chapter 6: Equilibrium unemployment theory: the DMP model
-Revisiting Unemployment in Intermediate Macroeconomics: A New Approachfor Teaching Diamond-Mortensen-Pissarides by A. Bhattacharya, P. Jackson, B. Jenkins. Journal of Economic Education, 2018*
• Chapter 7: Applications ofthe DMP model: Unemployment differences across countries and productivity, wage inequality and productivity
-Elsby, Michael WL, Bart Hobijn, and Ayşegül Şahin. "Unemployment dynamics in the OECD." Review of Economics and Statistics 95, no. 2 (2013): 530-548 -Ortego-Marti, Victor. "Loss of skill during unemployment and TFP differences across countries." European Economic Review 100 (2017): 215-235
2022-03-05