114-0379/01 – Economic growth and development (ERR)
| Gurantor department | Department of Economics | Credits | 5 |
| Subject guarantor | doc. Ing. Jan Janků, Ph.D. | Subject version guarantor | doc. Ing. Jan Janků, Ph.D. |
| Study level | undergraduate or graduate | Requirement | Compulsory |
| Year | 1 | Semester | summer |
| | Study language | Czech |
| Year of introduction | 2020/2021 | Year of cancellation | |
| Intended for the faculties | EKF | Intended for study types | Follow-up Master |
Subject aims expressed by acquired skills and competences
- understanding of models of economic growth (Solow model, new theory of growth)
- understanding of the differences between proximite and fundamental factors of economic growth in the countries
- the ability to explain the causes of differences in the economic level of the countries, both in terms of historical development and current problems
- ability to describe and explain the impact of geographical, cultural and institutional factors of economic growth
Teaching methods
Lectures
Tutorials
Summary
The aim of the course is to acquaint students with the causes of the current distribution of economic forces of nations and states, their economic development and growth. Students learn not only about the direct factors of economic growth, such as capital, human capital, and technological progress, but also about fundamental factors such as geographical, cultural, institutional factors, and luck.
Compulsory literature:
Recommended literature:
Way of continuous check of knowledge in the course of semester
Seminars: seminal work
Examination: combination of written and oral exam
The same conditions apply to students with ISP.
E-learning
Other requirements
No other requirements.
Prerequisities
Subject has no prerequisities.
Co-requisities
Subject has no co-requisities.
Subject syllabus:
1. Explanation of terms economic growth and development, chronology of development of the theoretical trends concerning economic growth and their basic description; Solow's model.
2. New Growth Theories - Models with Extended Capital Definition: AK Models, Capital Externality (Romer 1986), Models with Human Capital Accumulation (Robert E. Lucas 1988) and Mankiw, Romer and Weil (1992).
3. New Growth Theories - Models of Technological Progress Endogenization: Paul M. Romer (1990), R & D Models, Schumpeter's Growth Models.
4. Proximity (human and physical capital, technological progress) versus fundamental factors of economic growth - path dependence, geographical factors, culture, institutions.
5. Path dependence, 3 epochs of economic development (Malthusian trap, Industrial Revolution, "Great Divergence").
6. Economic History of Europe, Africa, America and Asia to the 20th Century.
7. 20th Century – until now: Great Divergence - Century of rapid change in economic development and regional growth. Characteristics of the causes of these changes. Characteristics and Comparison of Economic Development and Long-Term Growth of Advanced, Emerging and Poor Economies
8. 20th Century – until now: Great Divergence - Century of rapid change in economic development and regional growth. Characteristics of the causes of these changes. Characteristics and Comparison of Economic Development and Long-Term Growth of Advanced, Emerging and Poor Economies - continuation.
9. Geographical factors of economic growth - Nature and natural conditions as a fundamental factor of economic growth and development, models
10. Models of the impact of culture on long-term economic growth and development
11. Political Economy of Growth. Institutions, political regimes and their impact on long-term economic growth.
12. Models of income inequality and poverty impact on economic growth and development.
13. Current problems and their impact on further economic development: globalization and economic development; Theory of the impact of globalization on the economic growth of developing countries.
14. Global solutions to the issues of economic development, the effectiveness of development aid - institutions, policies, objectives, tools.
Conditions for subject completion
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction