Economics 454

Economic Growth
Jeffrey Parker, Reed College
Fall Semester, 2011

Reading List

Because this is an extremely small class, we may tailor the topical coverage to the interests of the students enrolled. The following readings cover the basics of economic growth. We may add material to some sections (or remove some) depending on student interest.

I. Economic Growth: Defining the Issues

II. Neoclassical Growth Theory

  • Barro and Sala-i-Martin, Chapters 1 through 3.

III. Endogenous Growth Models with Consumer Maximization

  • Barro and Sala-i-Martin, Chapters 4 and 5.

IV. Modeling Technological Progress

  • Barro and Sala-i-Martin, Chapters 6 through 8.

V. Selected Recent Models

A. "Unified Growth Theory"

  • Parente, Stephen L., and Edward C. Prescott, "A Unified Theory of the Evolution of International Income Levels," Chapter 21 in Handbook of Economic Growth, Volume 1B, ed. by P. Aghion and S. Durlauf, Amsterdam: North-Holland, 2005.
  • Galor, Oded, "From Stagnation to Growth: A Unified Growth Theory," Chapter 4 in Handbook of Economic Growth, Volume 1A, ed. by P. Aghion and S. Durlauf, Amsterdam: North-Holland, 2005.

B. General-Purpose Technologies

  • Jovanovic, Boyan, and Peter L. Rousseau, "General Purpose Technologies," Chapter 18 in Handbook of Economic Growth, Volume 1B, ed. by P. Aghion and S. Durlauf, Amsterdam: North-Holland, 2005.
  • Helpman, Elhanan, and Manuel Trajtenberg, "A Time to Sow and a Time to Reap: Growth Based on General Purpose Technologies," in E. Helpman, ed., General Purpose Technologies and Economic Growth, (Cambridge, Mass.: MIT Press, 1998), Chapter 3.

C. Models Focusing on Institutions and Policies

  • Acemoglu, Daron, Simon Johnson, and James A. Robinson, "Institutions as a Fundamental Cause of Long-Run Growth," Chapter 6 in Handbook of Economic Growth, Volume 1A, ed. by P. Aghion and S. Durlauf, Amsterdam: North-Holland, 2005.
  • Easterly, William, "National Policies and Economic Growth: A Reappraisal," Chapter 15 in Handbook of Economic Growth, Volume 1A, ed. by P. Aghion and S. Durlauf, Amsterdam: North-Holland, 2005.
  • Rodrik, Dani, "Growth Strategies," Chapter 14 in Handbook of Economic Growth, Volume 1A, ed. by P. Aghion and S. Durlauf, Amsterdam: North-Holland, 2005.

D. Non-Economic Objectives

VI. Empirical Studies of Growth

A. Growth Accounting

  • Barro and Sala-i-Martin, Chapter 10.  
  • Maddison, Angus, Dynamic Forces in Capitalist Development: A Long-Run Comparative View, Chapter 3. 
  • Jorgenson, Dale W., "Accounting for Growth in the Information Age," Chapter 10 in P. Aghion and S. Durlauf, eds. Handbook of Economic Growth, Vol 1A, Amsterdam: North-Holland, 2005.

B. Convergence or Divergence

C. Cross Country Income/Growth Differences and Other Empirical Studies