Economics: Economic Growth, Advanced Course

<p>What are the main factors driving economic growth? Why are some countries rich while others have lower income levels? How can we influence growth through economic and political policy measures? This course provides a deeper understanding of these issues.</p><p>You will gain a deeper understanding of the main theories of economic growth. A first step in growth theory is to describe how people’s choices affect the development of the economy over time. This can involve the choice between consumption and saving or investing. It can also involve the choice between work and education, where the latter generates higher incomes in the future, both for the individual and the country. You will learn how this type of choices affects long-term outcomes. The model you use will serve as a basis for more advanced growth models.</p><p>The next step is to deepen your understanding of why innovation, research and development are crucial drivers of growth. Here you will encounter and learn to use two central types of models that give slightly different perspectives on the subject. Together, they offer a solid understanding of the central link between innovation and growth. Both types of models provide a foundation and a framework that can be used to analyse and understand how a number of different factors, economic policy measures and social and institutional conditions may influence growth.</p><p>Once you have acquired a solid understanding of the theoretical framework, you will apply this knowledge to analyse the link between growth and areas such as the financial system, technology diffusion, convergence, institutions and the environment.</p>