Economic Growth and Productivity ECON5019

  • Academic Session: 2025-26
  • School: Adam Smith Business School
  • Credits: 20
  • Level: Level 5 (SCQF level 11)
  • Typically Offered: Semester 1
  • Available to Visiting Students: No
  • Collaborative Online International Learning: No
  • Curriculum For Life: No

Short Description

This course provides an overview of the determinants of long-run economic growth and the role of economic policy in achieving sustainable growth. Growth theory as well as time-series and cross-sectional data are employed to illustrate the various concepts covered. The course is comprised of 5-units: (i) Measuring the macroeconomy; (ii) Overview of long-run economic growth; (iii) Production model; (iv) Solow model; and (v) Romer model. Active applications of the theory and data are encouraged through a variety of asynchronous and synchronous activities.

Timetable

One 2-hour seminar per week for 10 weeks.

Requirements of Entry

Students must be registered on one of the associated programmes listed in this course specification.

Excluded Courses

None

Co-requisites

None

Assessment

ILO(s)

Course Aims

■ This course aims to introduce students to modern long-run macroeconomic theory and policy.

■ It thus provides theoretical and empirical insights into cross-country differences in per capita output and its growth rate. 

■ It also explores the role of total factor productivity, demographics, physical and human capital, institutions and new ideas in generating sustainable economic growth.

■ Finally, it discusses how economic growth guided by sound economic policies can help mitigate income and wealth inequality within and across countries.

Intended Learning Outcomes of Course

By the end of the course students will be able to:

1. Evaluate the importance of macroeconomic data in understanding how economic growth has dramatically changed global welfare and why the gains have not been evenly distributed within and across countries.

2. Assess the importance of physical and human capital accumulation as well as the role of new ideas in determining economic growth.

3. Apply the tools required to set up and solve simple models of long-run economic growth.

4. Evaluate the role of economic policy in helping or hindering sustained growth.

5. Critically assess the usefulness of growth models for understanding what determines the wealth of nations.

Minimum Requirement for Award of Credits

Students must submit at least 75% by weight of the components (including examinations) of the course's summative assessment.