Economic Growth (6th semester for the academic year 2024-25)

Course Description

Introduction: Economic Development and Economic Growth. Characteristics of developing countries. Development Indicators
General Approaches to Growth and Development: Dualism, unlimited supply ot labour, classical and neoclassical models. Growth, inequality, poverty and Kuznets hypothesis. Harrod-Domar model. Solow model. Convergence or divergence? Structuralism, Marxist and neomarxist models and the theory of dependent development.
The population problem: population explosion, internal migration, education policy, choice of technology and employment
Fiscal and monetary policies in the context of developing countries.
The role of external resources (foreign direct investment, international loans and aid) and the problem of external debt.
Industrialization and international trade: Terms of trade. Protectionism and industrialization through import substitution. Industrialization through export promotion.
The role of government and international organizations in the process of Economic Development

Indicative Course Prerequisites: Introduction to Economic Analysis ΙΙ