Development Economics: Macroeconomic Approach

Instructors

UEDA Kenichi

Term / Language / Credits

S1 / English / 2

Objectives

Understand key policy issues in macro development from both theoretical and empirical perspectives. (Primarily targeted for master’s-level students of public policy.)

Keywords

Growth theory, catch-up process, risk sharing, inequality, occupational choice, family, social issues

Schedule

This course will be organized as in the following outline (subject to some changes). Each topic will be based on a few academic papers or chapters of books.
1. Neo-classical growth theory
a. Solow-Swan model
b. Ramsey-Cass-Koopmans model
2. New growth theory: linear technology
a. AK model / AKH model
b. Uzawa-Lucas model
3. New growth theory: externality
a. Romer model
b. Division of labor
c. Variety, quality, and R&D
4. Catch-up process in data
a. Factor accumulation
b. TFP difference
5. Barriers to development
a. Labor boycott
b. Productivity dispersion
6. Heterogeneous agents
a. Risk sharing, incomplete market, and moral hazard
b. Aggregation and inequality
7. Finance, institutions, and development
a. Finance and growth regressions
b. Institutions and finance regressions
c. Theory-based approach on finance, institutions, and development
8. Occupational choice and migration
a. Harris-Todaro model
b. Occupational choice and general equilibrium
c. Macroeconomics of micro finance
9. Family and life
a. Altruism
b. Fertility
c. Value of life
10. Social issues
a. Health
b. Gender / Household production
c. Culture

Teaching Methods

Lecture (discussions encouraged)

Grading

Class participation and exam (final only)

Required Textbook

No textbook

Reference Books

N/A

Notes on Taking the Course

Basic understanding of micro and macroeconomics as well as statistical methods / econometrics are necessary. A prerequisite is Macroeconomics for Public Policy (or its equivalent).

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