CEE Economic Growth and Development (IEF)

Why are some countries poor and other countries rich? What are the factors of growth? What is the role of political and economic institutions in the development process? How can aid foster growth and development? These questions are of central interest not only for academics, but also for policy makers and international organizations shaping policies for sustained growth and development. Providing the answers is particularly relevant for any country undergoing a strong transition and development process, such as the former Soviet Union countries. It is however also important for the European Union, whose member countries vary significantly in their original economic environments. This course aims to address these questions in view of the theory and empirics of economic growth. This course is divided in two parts. The first part overviews the facts of growth and presents the main theories that try to account for them. Special attention is given to understanding the central role of institutions in this process. The second part of the course analyzes the role of foreign aid and also discusses the role of international organizations, such as the World Bank and the IMF. Throughout, the course puts emphasis on the growth experience across European and former Soviet Union countries.

Pre-requisites:

This course is mainly geared toward students with an economics background. We will base our analyses on simple mathematical models, so familiarity with algebra and calculus is strongly recommended. Students without any economics background are advised to consult the professor before enrolling. More precisely, prospective students need to have passed the following courses (or at least have the knowledge at the given level): Intro coursework in Calculus (AP Calculus is accepted)

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