Università Roma Tre

An introduction to the study of modern economic growth.
Part I, exogenous growth:
Definition, measurement, empirical regularities and stiligzed facts.
Solow's theory and its empirical predictions.
Foundations to the neoclassical growth theory - Ramsey-Cass-Koopmans (RCK) optimal growth model.
The centralized economy and Pareto efficiency. Solution existence and stability.
Market economy, competitive equilibrium and welfare theorems.
Empirical implications.
Part II, endogenous growth
Endogeous growth and capital accumulation.
Physical and "human" capital.
Growth, innovation and technological progress.
Optimal growth and investment decisions.

Economies with overlapping generations of individuals (OLG):
Competitive economies and the equilibrium.
Welfare theorems and optimal growth.
Some benchmark results on fiscal policy and social security.

Consumption and saving:
Permanent income hypothesis (Friedman). Life-cycle hypothesis (Modigliani).
Further issues on individual saving decisions.

The course material consits of a set of lecture notes that will be distributed on-line, in the course web-page (http://host.uniroma3.it/docenti/tirelli/RM3/RM3mag_Macro_2.htm) during classes.
Additional, suggested material and readings are:
Daron Acemoglu, "Introduction to Modern Economic Growth", Princeton University Press, 2009
David Romer, "Advanced Macroeconomics", McGraw Hill, edizione III, 2006 (o precedenti).
David Weil, "Economic Growth", Routledge, 2005 (or later eds).