Aims and Fit of Module

This module aims to provide students with broad understanding of the interplay between sustainable development and technical change at the economy-wide level as described by the modern growth theory. The module consists of the overview of main economic growth models from recent decades with special emphasis on the green growth and directed technical change concepts. Main goal is to deliver an overview of main concepts, not some particular formal models. The module contains some mathematical derivations, but is accessible to any student with general macroeconomic background. Such popular concepts as green growth, sustainable development, directed technical change are explained. By completion of the module students will be able to distinguish different types of growth theories with respect to their key components, role of environment and technology and make transition from theoretical model to empirical setup.

Learning outcomes

A Classify main growth theories, their advantages and shortcomings

B Understand the role of technical change in exogenous and endogenous growth theory

C Discuss the interplay between sustainable growth, green growth and directed technical change.

D Apply empirical validation techniques to a particular growth framework

Method of teaching and learning

Module is delivered as a combination of lectures and seminars. Lectures delivered every week provide essential theoretical information concerning different models. Seminars delivered every week are intended for discussion and empirical applications of theories being studied in lectures.