ULMS Electronic Module Catalogue
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title Economic Growth and Innovation
Code ECON828
Coordinator Prof CA Chu
Economics
C.H.A.Chu@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2020-21 Level 7 FHEQ Second Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):
 

Modules for which this module is a pre-requisite:
 

Programme(s) (including Year of Study) to which this module is available on a required basis:
 

Programme(s) (including Year of Study) to which this module is available on an optional basis:
 

Teaching Schedule
  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours   12

       6

24

 42
Timetable (if known)              
Private Study 108
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Examination. There is a resit opportunity. Standard UoL penalty applies for late submission. This is an anonymous assessment. Assessment schedule: semester 2  24 hours    100       
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
             

Aims

This module will cover selected topics in economic growth and innovation, building on the intermediate macroeconomics curriculum by developing some formal models of economic growth. The module aims to provide students with a firm appreciation of modern developments in the theory of economic growth and of the strengths and limitations of these and older models. Furthermore, the module aims to support students' understanding of a range of more complex influences on growth and students will gain an insight into a range of policy approaches governments might take to improve growth.

Learning Outcomes

(LO1) Be able to identify and evaluate general equilibrium models of economic growth.

(LO2) Be able to proficiently apply dynamic general equilibrium models of economic growth.

(LO3) Be able to discuss theoretical models of economic growth and their policy implications.

(LO4) Be able to write a proposal for a research question in the field of economic growth.

(S1) Problem solving.
Developed through tutorial problem sets and research proposal.

(S2) Numeracy.
Developed through tutorial problem sets and research proposal.

(S3) Communication skills.
Developed through tutorial problem sets and research proposal.

(S4) International awareness.
Developed through tutorial problem sets and research proposal.

(S5) Lifelong learning.
Developed through tutorial problem sets and research proposal.

Teaching and Learning Strategies

Mixed, hybrid delivery, with social distancing on campus

Face-to-face seminars x 12 hours
Asynchronous learning x 24 hours
Group study x 6 hours
Self-directed learning x 108 hours

Students will use self-directed learning hours read the textbook, reviewing lecture notes and preparing for assessment.

Syllabus
 

Solow model (Reading: lecture notes)

Ramsey model (Reading: lecture notes)

Ramsey model under perfect competition (Reading: lecture notes)

Ramsey model under monopolistic competition (Reading: lecture notes)

Romer model (Reading: Romer, Journal of Political Economy 1990)

Scale effects and Jones model (Reading: Jones, Journal of Political Economy 1995)

R&D underinvestment and subsidies (Reading: lecture notes)

Schumpeterian model (Reading: Aghion and Howitt, chapter 4)

Credit constraints (Reading: Aghion and Howitt, chapter 6)

Technology transfer across countries (Reading: Aghion and Howitt, chapter 7)

Optional topics:

Skill-biased technical change (Reading: Aghion and Howitt, chapter 8)

Appropriate institutions and non-convergence trap (Reading: Aghion and Howitt, chapter 11)

Recommended Texts
Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.