The Engines of Growth: Innovation, Institutions and Human Capital
Universidad Carlos III de Madrid
Area of Study
Business, Business Administration, Economics, Government, International Business, International Economics
Taught In English
Course Level Recommendations
ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.
Recommended U.S. Semester Credits3
Recommended U.S. Quarter Units4
Hours & Credits
OverviewCOMPETENCES AND SKILLS THAT WILL BE ACQUIRED AND LEARNING RESULTS.Knowledge:- Introduction to concepts, models and theories which measure and explain the dynamic forces ofeconomic growth.- Have proficiency in the most relevant works and know the circles in which these topics arediscussed.- Understand the dynamics of business growth and its relationship with changes in markets,resources, technology and the institutional framework.- Apply comparative analysis which allows a better understanding of business today and beingable to identifying similarities and differences in time and spaceSkills:- Develop capacities to look for, process, evalutate and transmit information in a clear form, bothwritten and oral.- Elaborate a research project in an essay/report format- Acquire ability to raise questions related to firms and resolve them with economic theory andquantative methods.Attitudes:- An open attitude to different approached and dimensions of growth and their theoreticalfoundations.- A flexible attitude to constructive criticism with academic basis and the ability to acceptcriticism.- An open attitude to finding answers to today's business problems.- Promote curiosity and ability to tackle complex questions.DESCRIPTION OF CONTENTS: PROGRAMME1. Formal contrasts of the endogenous growth theory2. Education, social capital and economic growth3. Appropriate technology4. Growth and contracts: design, implementation, readjustment and supervision5. Growth, distribution and democracyLEARNING ACTIVITIES AND METHODOLOGYThis course is designed as an introduction to acedemic research.The skills and attitudes will be acquired by the students in- lectures- weekly essays using the recommended references related to the corresponding topic of the syllabus- group presentations made in class on specific topics of the syllabus- participartion in class debates organized in class seminars.The skills will be further developed individually between teaching staff and students in interviews to determine thetopic of the final essay, supervision of the essay-report and a formal oral defense of the essay with the professor.The course has established the following schedule: Students will receive a reading list with basic andPágina 1 de 3complementary readings for each topic. Students are required to had in weekly essays to evaluate their readingprogress, the comprehension of the lectures attended, and how well they have understood the presentations anddebates in class. The essays are to be handed in according to the time schedule established and handed out thefirst day of class.The six ECTS credits are broken down into two credits for the classes which are to be assisted, one credit forwritten essays handed in, two credits for the preparation and the oral defense of the final essay-report and onecredit for the debates and group presentations made in class.The aim of the lecture given by the professor is to provide an introduction to each topic, which will summarize themost important concepts and ideas, and present the most important theories and models which are applied to thetopic being treated. The theoretical problems presented by the professor, together with the obligatory readings andthe individual work by each student using complementary material recommended and adquired in addition to thiswill be the basis for the debates to be held in class.The presentations given in class are designed to develop the abilities of synthesis and public speech, helpingstudents to express themselves in a concise and clear manner. They are also conceived to promote theircapacities to answer questions raised about the topic they have prepared. The in-depth comprehension of theory isreinforced by the readings, group work, class debates and their application in the final essays.The weekly essays will not be exhaustive summaries, more so outlines limited to two pages. They are focused onthe main question under debate, and aimed at summarizing the main points and conclusions contained in theobligatory readings.The final essay should contribute information and new evidence to the debate and should not be limited tosummarizing the existing literature. Essay which compare events of the past with the present will be encouraged.Examples: A fundamented criticism of an existing study, a contrast of an existing theory of model with new data,the analysis of an experiment.ASSESSMENT SYSTEMThe student qualification will be performed throughout the semester, taking into account the design and goals ofthe course. Twenty-five per cent of the final grade will be determined by the weekly essays and participation inclass. Fifty per cent of the grade correspondes to qualification of the final essay and the remaining twenty-fivepercent to a final exam which covers the whole of the subject matter seen in the course. If the average gradebefore taking the final exam is higher than 6 over 10, the student will not be required to take the final exam. In thiscase the proportions of the weekly essays and participation, and the final exam will be 33 % and 66 % respectively.BASIC BIBLIOGRAPHY- Aghion, Philippe and Stephen Durlauf (eds.) Handbook of Economic Growth, North Holland, 2005- Aghion, Philippe and Peter Howitt The Economics of Growth, London: MIT Press, 2009- Banerjee, A., R. Benabou, and D. Mookherjee (eds.). Understanding Poverty, Oxford University Press, 2006- Goldin, Claudia and Larry Katz The Race between Education and Technology, Belknap, 2008- Helpman, Elhanan (Ed.) General Purpose Technologies and Economic Growth, MIT Press, 1998- Perkins, Dwight H., Steven Radelet and David L. Lindauer Economics of Development, Norton, 2006- Ray, Debraj Development Economics, Princeton University Press, 1998- Rodrik, Dani In Search of Prosperity: Analytical Narratives on Economic Growth, Princeton University, 2003- Weil, David Economic Growth, Pearson, 2005ADITIONAL BIBLIOGRAPHY- Hall, Robert and Charles I. Jones Why Do Some Countries Produce So Much More Output per Worker ThanOthers? , Quarterly Journal of Economics 114, 83-116, 1999Página 2 de 3- Hanushek, Eric and Ludger Woessmann The Role of Cognitive Skills in Economic Development , Journal ofEconomic Literature 46 (3), 607-668, 2008- Pritchett, Lant Does learning to add up add up? The returns to schooling in aggregate data, Handbook of theEconomics of Education, Elsevier, (chapter 11), 635-695., 2006- Psacharopoulos, George and Harrz Anthony Patrinos Returns to Investment in Education: a further update,Education Economics, 12 (2), pp. 111-134., 2004- Glewwe, Paul Schooling and Skills in Developing Countries: Education Policies and Socioeconomic Outcomes,Journal of Economic Literature 40 (2), 436-482, 2002- Bluhm, R. and A. Szirmai Institutions and long-run growth performance: An analytic literature review of theinstitutional determinants of economic growth, UNU-MERIT Working Paper 2012-033, 2012- Easterly, W. and R. Levine The European Origins of Economic Development, NBER Working Paper #18162.,2012- Engerman, Stanley and Kenneth Sokoloff Factor Endowments, Institutions and Differential Paths ofDevelopment Among New World Economies: A View from Economic Historians of the United States, NBERWorking Paper # hp66, 1994- Glaeser, E. L., R. LaPorta, F. Lopez de Silanes, A. Shleifer Do Institutions Cause Growth?, Journal of EconomicGrowth 9 (3), 271-303, 2004- Spolaore, E. and R. Wacziarg How deep are the roots of economic development?, CEPR Working Paper #8998., 2012- Easterly, William Institutions, Top Down or Bottom Up?, American Economic Review 98 (2), 95-99., 2008- Mauro, P. Corruption and Growth, Quarterly Journal of Economics, 110 (3), 681-712, 1995- Svensson, J. Eight Questions about Corruption, Journal of Economic Perspectives 19(3), 19-42, 2005- Milanovic, Branko A short history of global inequality: The past two centuries, Explorations in Economic History48 (4), 494-506, 2011- Forbes, Kristin A Reassessment of the Relationship Between Inequality and Growth, American EconomicReview 90 (4), 869-887, 2000- Basu, Kaushik Globalization, poverty, and inequality: What is the relationship? What can be done?, WorldDevelopment 34 (8), 1361-1373, 2006- Kierenkowski, R. and I. Koske Less Income Inequality and More Growth ¿ Are They Compatible? Part 8. TheDrivers of Labour Economic Inequality - A Literature Review, OECD Economics Department Working Papers No.931, 2012- Persson, Torsten and Guido Tabellini Is Inequality Harmful for Growth?, American Economic Review 84 (3),600-621, 1994- Banerjee, Abhijit and Ester Duflo The Economic Lives of the Poor, Journal of Economic Perspectives 21 (1),141-168, 2007- Hausmann, R., L. Pritchett and D. Rodrik Growth Accelerations, NBER Working Papers 10566, 2004- Mukand, S. W. and D. Rodrik In Search of the Holy Grail: Policy Convergence, Experimentation, and EconomicPerformance, American Economic Review, 95 (1), 374-383, 2005
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