This course aims at providing: (i) the methodological bases for the understanding of the prerequisites for economic growth drawing from the contribution of the most relevant growth theories and the neo-institutional approach to development; (ii) the economic fundamentals for sustainable growth, and (iii) a critical approach to alternative economic policies using a comparative analysis of the large emerging market economies based on economic and institutional indicators currently employed in the working out of short term and long term economic projections.
Students who have attended lectures and passed the final exams will be able to: (i) discern the fundamentals for economic growth and assess the consistency of different economic policy instruments with the prerequisites for growth; (ii) single-out the crucial variables needed for the economic analysis of sectors/countries and (iii) adopt a critical approach to the probabilities of growth, recession and/or decline of emerging market economies using the relevant macro and microeconomics indicators.
First part (one third of the course)
The main theories of economic growth. Harrod Domar, exogenous growth, labour surplus, neoclassical theory of growth.
Technological innovation. How to measure Research and Development (R&D)
Second part (two thirds of the course)
The dynamics of economic growth and development in emerging market economics, with pointed reference to Russia, China, India and Brazil. Institutional change. Overview of the prerequisites for sustainable growth and economic development. Critical analysis of the major structural indicators and cross-country comparisons.
Ignazio Musu, Crescita Economica, Il Mulino, Collana Itinerari, ultima edizione, pp.176
Luciano Boggio e Gilberto Seravalli, Lo sviluppo economico. Fatti, teorie, politiche, Il Mulino, Collana Manuali, 2003: pp.366.
Cina e Russia. Due transizioni a confronto, a cura di Giuseppe Iannini, Milano: Franco Angeli, 2005
Il Politico, Rivista Italiana di Scienze Politiche, Settembre Dicembre 2006, numero dedicato alla Cina.
Douglass C. North, The New Institutional Economics and Development, scaricabile da: www.econ.iastate.edu/tesfatsi/NewInstE.North.pdf
To be noted: Under no circumstances the only knowledge of the subjects discussed in the textbooks will be sufficient to pass the final exams.
Additional literature in support of the second part of the course, which will likely include also publications made available during the term, will be provided either directly to attending students or indirectly referring to the websites from which they will be able to download. Most used reference websites are:
Frontal lectures. Active participation from students with direct or prepared interventions will be required.
Attendance to at least two third of the lectures and the oral or written presentation of a short paper agreed with the teacher in front of the class is the minimum threshold to be admitted to final exams. No exceptions. The paper can be prepared either individually or by a group of no more than three students.
The final exam consists in a written presentation to be discussed orally with power point of a subject chosen among several options proposed by the teacher at the conclusion of the course. Oral and written abilities will count 50-50 in the final grade.