Economic Growth and Structural Change
In this module we study the transition from long-run economic stagnation to long-run sustainable growth that is often called the “take-off”. We move beyond conventional growth theory that explains economic growth with physical and human capital accumulation and technological progress and relate investments in physical capital, human capital and new technology to institutional change, demographic change and industrialization. This will enable students to understand (i) the structural changes that preceded, accompanied, and grew out of the “take-off”, as well as (ii) cross-country differences in the timing of the “take-off”, in growth paths, and, consequently, in income levels.
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Lecture and Tutorial