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Instructors: Prof. Dr. Jarko Fidrmuc
Event type:
Seminar
Org-unit: Sociology, Politics & Economics
Displayed in timetable as:
Polit. Ec.
Hours per week:
3
Credits:
6,0
Note: In your exam regulations, differing credits may have been specified.
Location:
Campus der Zeppelin Universität
Language of instruction:
Englisch
Min. | Max. participants:
10 | 20
Priority scheme: Standard-Priorisierung
Course content:
A fundamental question in macroeconomic theory and policy is which factors determine the growth and welfare. The traditional economic growth theory shows the role of standard factors of production: While growth cannot be sustained only by capital accumulation, the technological progress is required to sustain growth.
However, capital accumulation and technological progress cannot explain why some countries failed to achieve growth in the past. The new political economy approach, by contrast, stresses the role of the institutions. Some countries are democracies with inclusive institution, while inappropriate institutions represent an overwhelming barrier to growth and prosperity in many developing countries. Different groups have opposing interests and these may translate into different structure of political institutions determining the economic outcome. The lecture will also discuss the importance of inequality, culture, religion and geography on the economic development. We will also address the most recent developments related to digitalization, automation, and the implications of the pandemic.
Educational objective:
The course should improve understanding of contemporary theoretical political economy models and their application to democratic and non-democratic societies including the implications on growth, inequality, distribution, and other macroeconomic developments. We will discuss the historical and recent examples of economic and political developments in the world from the perspective of presented theoretical models.
Further information about the exams:
Attendance at the lectures (80%) is obligatory!
Essay (100%)
Admitted Aids:
no
Mandatory literature:
Main Literature:
Acemoglu, D., Robinson, J. (2006, 2009): Economic Origins of Dictatorship and Democracy, Cambridge University Press.
Complementary Literature
Acemoglu, D. et al (2001) The Colonial Origins of Comparative Development: An Empirical Investigation, American Economic Review 91, 1369-1401.
Becker, S., Woessmann, L. (2009) Was Weber Wrong? A Human Capital Theory of Protestant Economic History, Quarterly Journal of Economics, 124, 531-596.
La Porta, R. et al. (1998) Law and Finance, Journal of Political Economy, 106 (6), 1113-1155.
Allen, F. et al (2005) Law, Finance, and Economic growth in China, Journal of Financial Economics 77, 57-116.
Selected Papers on recent issues.
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