20971 - INNOVATION AND ECONOMIC GROWTH
Department of Economics
Course taught in English
Go to class group/s: 31
CLMG (6 credits - II sem. - OP | SECS-P/01) - M (6 credits - II sem. - OP | SECS-P/01) - IM (6 credits - II sem. - OP | SECS-P/01) - MM (6 credits - II sem. - OP | SECS-P/01) - AFC (6 credits - II sem. - OP | SECS-P/01) - CLELI (6 credits - II sem. - OP | SECS-P/01) - ACME (6 credits - II sem. - OP | SECS-P/01) - DES-ESS (6 credits - II sem. - OP | SECS-P/01) - EMIT (6 credits - II sem. - OP | SECS-P/01) - GIO (6 credits - II sem. - OP | SECS-P/01) - DSBA (6 credits - II sem. - OP | SECS-P/01) - PPA (6 credits - II sem. - OP | SECS-P/01) - FIN (6 credits - II sem. - OP | SECS-P/01) - AI (6 credits - II sem. - OP | SECS-P/01)
Course Director:
MARTA PRATO
MARTA PRATO
Suggested background knowledge
The course builds on knowledge of intermediate Macroeconomics at the undergraduate level. Knowledge of Advanced Macroeconomics is encouraged but not required.
Mission & Content Summary
MISSION
This course will explore the drivers of economic growth and will analyze the long-run macroeconomic trends in income levels and inequality. The course will focus on innovation as a driver of sustained long-run growth and analyze which policies can foster technological progress and economic growth. The course will explore questions such as: What drives improvements in income levels and living standards over time? Why are some countries richer than others?
The course will develop foundational concepts such as macroeconomic models of growth and the role of innovation. The course will discuss applications such as the impact of modern technologies on the environment and the labor markets, the role of automation and AI, and the demographic transition, offering a comprehensive understanding of how policy can foster inclusive economic growth and innovation.
CONTENT SUMMARY
The course will cover a combination of theoretical tools, empirical evidence, and policy analysis to provide a thorough analysis and understanding of economic growth. The content will include (i) macroeconomic models of growth, (ii) empirical evidence on long-run growth and innovation, (iii) policies to foster innovation and growth, and (iv) applications such as innovation in clean technologies, automation and AI, and the demographic transition.
Intended Learning Outcomes (ILO)
KNOWLEDGE AND UNDERSTANDING
At the end of the course student will be able to...
- Define the concept of long-run economic growth.
- Describe the drivers of sustained economic growth and inequality within and across countries.
- Explain the methodology used by modern growth models to analyze technological progress.
- Understand how policies can foster inclusive growth and innovation.
- Discuss the empirical strategies used to support the theories of long-run growth.
APPLYING KNOWLEDGE AND UNDERSTANDING
At the end of the course student will be able to...
- Solve the benchmark models of growth and innovation.
- Summarize key takeaways from the theoretical models and compare them to empirical evidence.
- Critically assess the causes and consequences of economic growth and inequality, and identify appropriate policy responses.
- Understand and analyze data about growth and innovation.
- Examine the implications of technological progress on inequality, climate change, and automation in the labor markets, and propose strategies to ensure inclusive and sustainable economic growth.
- Read and critically discuss frontier research in growth.
Teaching methods
- Lectures
- Practical Exercises
- Collaborative Works / Assignments
DETAILS
Students will work in groups to analyze and discuss articles, real-world case studies, and empirical exercises with real-world data, applying the concepts developed during lectures.
Assessment methods
| Continuous assessment | Partial exams | General exam | |
|---|---|---|---|
|
x | x | |
|
x | ||
|
x |
ATTENDING STUDENTS
Attending students: With the purpose of measuring the acquisition of the above-mentioned learning outcomes, the students' assessment is based on three main components: 1. In-class participation (10% of the final grade) aimed to test the students' ability to interact in a constructive way and to think critically. 2. Group activities (20% of the final grade), where, working in groups, students will be asked to analyze and discuss case studies, which are used to assess the ability to apply the knowledge students learned when studying the course material. 3. Written exam (70% of the final grade), consisting of exercises and multiple-choice questions aimed to assess students' ability to apply the analytical tools illustrated during the course. The exam will also include open-ended questions, aimed at assessing the students' ability to articulate economic reasoning and evaluate the potential effects of a given economic event or policy on innovation and economic growth.
NOT ATTENDING STUDENTS
Non-attending students, i.e. students not participating in group activities, will be assessed with a general written exam that counts for 100% of the final grade. The written exam will consist of exercises and multiple-choice questions aimed to assess students' ability to apply the analytical tools illustrated during the course. The exam will also include open-ended questions, aimed at assessing the students' ability to articulate economic reasoning and evaluate the potential effects of a given economic event or policy on innovation and economic growth.
Teaching materials
ATTENDING AND NOT ATTENDING STUDENTS
Lecture notes represent the core material and they will be made available on the Blackboard page of the course.
Last change 26/05/2024 18:28