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363-1136-00L 3 Credits DR , MSC D-MTEC
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Dynamic Macroeconomics, Innovation and Growth

Lecturers & Examiners: Prof. Dr. Hans Gersbach, Dr. Sebastian Zelzner
Students who have successfully completed the course "Dynamic Macroeconomics" (364-0559-00L) or "Economics of Innovation and Growth" (363-0562-01L) can not register for this course.
VVZ CR n/a

Last Updated: 2026-02-05 16:31:20

Abstract

Introducing dynamic models and workhorses in macroeconomics, understanding the role of innovation and institutions for economic development and discussing policies to foster innovation and economic growth.

Objective

After the course, students will be familiar with dynamic general equilibrium theory and the basic workhorse models in macroeconomics. Participants will be able to apply the frameworks to interesting issues, such as innovation and growth. Moreover, students will understand how the world has developed over the last centuries and the proximate and fundamental causes of innovation and economic growth. Students will understand and apply the basic models of economic growth and will be able to identify policies to foster innovation and growth and to reduce the large wealth differences in the world. Finally, they will get an idea how digitization and artificial intelligence might drive economic growth.

Content

1. Introduction 2. The Solow Model 3. The Neoclassical Growth Model (with Mathematical Background) 4. Technological Progress and how the World has developed 5. Innovations and Growth (New Growth Theory) 6. Growth Policies and Fundamental Causes for Growth 7. Digitization and Artificial Intelligence

Resources

Literature

1. Acemoglu, D. (2009): Introduction to Modern Economic Growth. Princeton University Press, Cambridge MA. 2. Stokey, N. and Lucas, R. (1989): Recursive Methods in Economic Dynamics. Harvard University Press, Cambridge, Massachusetts, United States and London, England. 3. Ljungqvist, L. and Sargent, T. (2004): Recursive Macroeconomic Theory, MIT Press, Cambridge, Massachusetts, United States and London, England. 4. Barro, R.J. and X. Sala-i-Martin (2004): Economic Growth. MIT Press. 5. Aghion P. and P. Howitt (1998): Endogenous Growth Theory. MIT Press. 6. Aghion P. and S. Durlauf (eds. 2005): Handbook of Economic Growth. Elsevier, chapter 6. 7. Romer, D. (2001): Advanced Macroeconomics. McGraw-Hill. 8. Bretschger, L. (1999): Growth Theory and Sustainable Development. Edward Elgar. 9. Romer, P. (1990): Endogenous Technological Change, Journal of Political Economy, Vol. 98(5). 10. Aghion, P. and P. Howitt (1992):A Model of Endogenous Growth through Creative Destruction. Econometrica, Vol. 60(2). 11. Lucas, R. (1988): On the Mechanics of Economic Development, Journal of Monetary Economics, Vol. 22. 12. Rebelo, S. (1991): Long-Run Policy Analysis and Long-Run Growth. Journal of Political Economy, Vol. 99(3). 13. Piketty, T. (2014): Capital in the Tewnty-First Century. Harvard University Press, Cambridge, MA. 14. Current Literature on Digitization and Artificial Intelligence

General Information

Language
English
Levels
DR , MSC
Frequency
Yearly recurring

Examination

Type
session examination
Mode
written 90 minutes
Aids
None

Course Components

Type Title Time & Place Hours
lecture Dynamic Macroeconomics, Innovation and Growth
Please note: This lecture was merged from 364-0559-00L Dynamic Macroeconomics and 363-0562-01L Economics of Innovation and Growth. Contact person: Johann Fuchs,
  • Thu 14:15-16:00 (LEE D 105)
2 h weekly

Offered In