156-0479/01 – Economic growth and development (ERR)
| Gurantor department | Department of Applied Economics | Credits | 5 |
| Subject guarantor | doc. Ing. Mariola Pytliková, Ph.D. | Subject version guarantor | doc. Ing. Mariola Pytliková, Ph.D. |
| Study level | undergraduate or graduate | Requirement | Choice-compulsory type B |
| Year | 1 | Semester | summer |
| | Study language | Czech |
| Year of introduction | 2019/2020 | Year of cancellation | 2020/2021 |
| 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
Compulsory literature:
Recommended literature:
Way of continuous check of knowledge in the course of semester
E-learning
Other requirements
no other requirements
Prerequisities
Subject has no prerequisities.
Co-requisities
Subject has no co-requisities.
Subject syllabus:
1. Explanation of basic economic terms such as economic growth and development; theories focused on economic growth; the Solow´s growth model.
2. New theory of growth - Models with large definition of capital: AK models, capital externalities (Romer 1986), model with human capital accumulation (Robert E. Lucas 1988) and model of Mankiw, Romer and Weil (1992).
3. New theory of growth - Models with endogenization of technological progress: Paul M. Romer (1990), R&D models, models of Schumpeterian growth.
4. Proximite (human and physical capital, technological progress) and fundamental factors of economic growth - path dependence, geographical factors, culture, institutions.
5. Path dependence, 3 periods of economic development (Malthusian trap, industrial revolution, great divergence).
6. Brief economic history of Europe, Africa, America and Asia until the 20th century.
7. 20th century – till present: Great Divergence - century of rapid change in economic growth and development of regions. Characteristics of the causes of these changes. Characteristics and comparison of economic development and long-term growth of advanced economies, emerging economies and poor economies.
8. 20th century – till present: Great Divergence - continuation
9. Geographical factors of economic growth – Nature, climate and location as a fundamental factor of economic growth and development, models.
10. Models of cultural impact on the long-term economic growth and development.
11. Political economics of growth. Institutions, political regimes and their impact on economic growth.
12. Models of income inequality and poverty impact on economic growth and development.
13. Globalization and its impact on economic development, theories of impact of globalization on economic growth of developing countries.
14. Global solutions of economic development, efficiency of development aid – institutions, policies, targets and instruments.
Conditions for subject completion
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction