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Economic Development 2017/2018

  • 5 ECTS
  • Taught in Portuguese
  • Continuous Assessment

Objectives

After completing the course the student should be able to ...
- Understand and apply the concepts of economic growth and development;
- Capturing the theoretical framework of the phenomena of growth and economic development;
- Understand the implications of the New economy on economic activity and public policy.

Recommended Prerequisites

Microeconomics, Macroeconomics, Microeconomic Analysis of Markets and Public Economy.

Teaching Metodology

Theoretical and practical, according to the following methodology:
- Presentation of the main models and its evolution, with demonstrations and empirical applications;
- Development of practical exercises through the use of international databases (UNDP);
- Discussions about the central themes of the course, deepening its analysis through the use of the studied models and empirical data.

Body of Work

Part I: Introduction to economic development
1. Conceptual framework and analysis
2. Developing economies: general characterization
3. Instruments of analysis and representation
Part II: Economic growth and development: Theoretical representation and evaluation
1. Historical conceptions
2. Structuralistic conceptions
3. Theories of economic growth
4. Economic growth accounting and facts
Part III: The economics of innovation: theoretical and institutional framework
1. Invention, innovation and diffusion
2. The microeconomic effects of innovation
3. The interaction between producers and users of innovation
4. Innovations and market failures
5. Incentives for invention and innovation
6. The competition through innovation

Recommended Bibliography

Jones, Charles I., and Vollrath,D. (2013). Introduction to Economic Growth. Third edition. Norton.

Greenhalg, C, e Rogers, M. (2010). Innovation, Intellectual Propriety and Economic Growth. Princeton.

UNDP, Human Development Report 2016, available at www.undp.org

Handouts provided by the teacher

Complementary Bibliography

Todaro, Michael P. e Smith,S.(2015). Economic Development, 12th edition. Pearson.

Weekly Planning

Weeks 1 to 4:
Part I: Introduction to economic development
1. Conceptual framework and analysis
2. Developing economies: general characterization
3. Instruments of analysis and representation
Mini-test 1
Weeks 5 to 12:
Part II: Economic growth and development: theoretical representation and evaluation
1. Historical conceptions
2. Structuralist conceptions
Revisions and intermediate test
3. Theories of economic growth
4. Institutions and long-term economic performance
mini-test 2
Weeks 13-15:
Part III: The economics of innovation: theoretical and institutional framework
1. Invention, innovation and diffusion
2. The microeconomic effects of innovation
3. The interaction between producers and users of innovation
4. Innovations and market failures
5. Incentives for invention and innovation
6. The competition through innovation
Revisions
Mini-test 3

Demonstration of the syllabus coherence with the curricular unit's objectives

The study of Part I program will allow the student to achieve the goal ( 1) that constitutes the correct application of the concepts of economic growth and development , either in the conceptual plan or as regards the use of suitable indicators.
Part II of the program aims to give students the theoretical approach to growth and economic development - objective (2) - , having particular regard to the debates and current main research lines in these areas.
Finally , in Part III , and by studying the main ' drivers ' of growth , we intend to understand and deepen the main implications of the designated ' New Economy ' in terms of economic activity and the formalization of public policy.

Demonstration of the teaching methodologies coherence with the curricular unit's objectives

It is understood that the pursuit of defined objectives, taking into account the nature of the contents, admits the use of direct and indirect teaching methods, necessarily comprising the exposure of the standard models, but also integrating the exploitation of databases and the promotion of the debate among students about the core issues of the discipline. In this context, students are properly qualified to understand and interpret the scope of public policies and the development of economic activity in a long-term environment.

relevant generic skillimproved?assessed?
Achieving practical application of theoretical knowledgeYesYes
Analytical and synthetic skillsYesYes
Cultural awarenessYesYes
Ethical and responsible behaviourYes 
Foreign language proficiency  
IT and technology proficiency  
Problem Analysis and AssessmentYesYes
Problem-solvingYesYes
Research skillsYes 
Understanding multiculturalism and valuing diversity  
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