| ECONOMICS | |||||
| Bachelor | TR-NQF-HE: Level 6 | QF-EHEA: First Cycle | EQF-LLL: Level 6 | ||
| Course Code | Course Name | Semester | Theoretical | Practical | Credit | ECTS |
| ECO4553 | Economic Development and Growth | Spring |
3 | 0 | 3 | 6 |
| The course opens with the approval of the Department at the beginning of each semester |
| Language of instruction: | En |
| Type of course: | Non-Departmental Elective |
| Course Level: | Bachelor |
| Mode of Delivery: | Hybrid |
| Course Coordinator : | Dr. Öğr. Üyesi DİLA ASFUROĞLU |
| Course Lecturer(s): |
Dr. Öğr. Üyesi BORA ERDAMAR |
| Course Objectives: | This course introduces theories of economic growth and development. It aims to explore the determinants of economic growth in the long run. It focuses both on analytical models of economic growth and their empirical applications, and tries to shed light on the mechanics of economic growth, technological change and sources of income and growth differences across countries. |
|
The students who have succeeded in this course; 1. Define and calculate economic growth and understand its fundamental determinants; and apply Kaldor Facts to countries; 2. Understand Malthus, Harrod-Domar, and Solow models; and differentiate between them; 3. Understand AK models, endogenous growth models and two-country models; and differentiate between them; 4. Utilize economic growth theories in analyzing income per capita differences; discuss the implications of economic growth theories; 5. Analyze international differences in development; understand the development theories and determinants of development; evaluate the relationship between growth related variables and development; 6. Discuss journal articles academically |
| • Introduction - Course Syllabus Review • Facts on Growth - Why study growth? • GDP - How to measure and calculate GDP Log, level, growth of GDP (scales) • Stylized Facts Analytical Framework - Kaldor Facts Analytical assumptions and concepts • Solow Growth Model - Assumptions and derivations of relations, Steady state • Solow Growth Model - Dynamics of the model , Predictions and facts, Golden Rule • Solow Growth Model vs Harrod-Domar Model and Malthus Model - Relations of Harrod-Domar model Comparison, Population growth • Human Capital - Solow with human capital Policies, Externalities • Productivity - Solow model with technological progress, Productivity growth vs factor accumulation, Dynamics, derivations, steady state, golden rule revisited • Technological Progress - Convergence, Technology creation policies, R&D, Two-country model • Endogenous Growth Models - AK model, Comparison Knowledge • Development Measuring well-being - Theories of Development Institutions, Alternative indices • Paper Discussions - Discussions over the assigned papers |
| Week | Subject | Related Preparation | |
| 1) | Introduction: Course Syllabus Review | ||
| 3) | How to measure and calculate GDP? | ||
| 4) | Stylized Facts Analytical Framework | ||
| 5) | Solow Growth Model | ||
| 6) | Solow Growth Model | ||
| 7) | Solow Growth Model vs Harrod- Domar Model and Malthus Model: Relations of Harrod-Domar model Comparison Population growth | ||
| 8) | Human Capital and Externalities | ||
| 9) | Productivity | ||
| 10) | Technological Progress | ||
| 11) | Endogenous Growth Models | ||
| 12) | Development and Measuring well-being | ||
| 13) | Paper Discussions | ||
| 14) | Paper Discussions | ||
| Course Notes: | Hendrik van den BERG, Economic Growth and Development, World Scientific 2012. David N. Weil, Economic Growth,2nd ed. Pearson, 2009. Charles I. Jones & Dietrich Vollrath, Introduction to Economic Growth, 3rd ed. W.W.Norton. Michael P. Todaro & Stephen C. Smith, Economic Development, 11th Edition, 2012, Prentice Hall. |
| References: | Articles will be announced by the lecturer. |
| Semester Requirements | Number of Activities | Level of Contribution |
| Attendance | 14 | % 15 |
| Laboratory | 0 | % 0 |
| Application | 0 | % 0 |
| Field Work | 0 | % 0 |
| Special Course Internship (Work Placement) | 0 | % 0 |
| Quizzes | % 0 | |
| Homework Assignments | % 0 | |
| Presentation | 0 | % 0 |
| Project | 0 | % 0 |
| Seminar | 0 | % 0 |
| Midterms | 1 | % 40 |
| Preliminary Jury | 0 | % 0 |
| Final | 1 | % 45 |
| Paper Submission | 0 | % 0 |
| Jury | 0 | % 0 |
| Bütünleme | % 0 | |
| Total | % 100 | |
| PERCENTAGE OF SEMESTER WORK | % 55 | |
| PERCENTAGE OF FINAL WORK | % 45 | |
| Total | % 100 | |
| Activities | Number of Activities | Duration (Hours) | Workload |
| Course Hours | 14 | 3 | 42 |
| Laboratory | 0 | 0 | 0 |
| Application | 0 | 0 | 0 |
| Special Course Internship (Work Placement) | 0 | 0 | 0 |
| Field Work | 0 | 0 | 0 |
| Study Hours Out of Class | 14 | 8 | 112 |
| Presentations / Seminar | 0 | 0 | 0 |
| Project | 0 | 0 | 0 |
| Homework Assignments | 0 | 0 | 0 |
| Quizzes | 0 | 0 | 0 |
| Preliminary Jury | 0 | 0 | 0 |
| Midterms | 1 | 2 | 2 |
| Paper Submission | 0 | 0 | 0 |
| Jury | 0 | 0 | 0 |
| Final | 1 | 2 | 2 |
| Total Workload | 158 | ||
| No Effect | 1 Lowest | 2 Low | 3 Average | 4 High | 5 Highest |
| Program Outcomes | Level of Contribution | |
| 1) | As a world citizen, she is aware of global economic, political, social and ecological developments and trends. | |
| 2) | He/she is equipped to closely follow the technological progress required by global and local dynamics and to continue learning. | |
| 3) | Absorbs basic economic principles and analysis methods and uses them to evaluate daily events. | |
| 4) | Uses quantitative and statistical tools to identify economic problems, analyze them, and share their findings with relevant stakeholders. | |
| 5) | Understands the decision-making stages of economic units under existing constraints and incentives, examines the interactions and possible future effects of these decisions. | |
| 6) | Comprehends new ways of doing business using digital technologies. and new market structures. | |
| 7) | Takes critical approach to economic and social problems and develops analytical solutions. | |
| 8) | Has the necessary mathematical equipment to produce analytical solutions and use quantitative research methods. | |
| 9) | In the works he/she contributes, observes individual and social welfare together and with an ethical perspective. | |
| 10) | Deals with economic problems with an interdisciplinary approach and seeks solutions by making use of different disciplines. | |
| 11) | Generates original and innovative ideas in the works she/he contributes as part of a team. |