ULMS Electronic Module Catalogue
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title Economic Growth and Innovation
Code ECON363
Coordinator

 
Year CATS Level Semester CATS Value
Session 2024-25 Level 6 FHEQ Second Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):
ECON223 MACROECONOMICS I 2022-23; ECON224 MACROECONOMICS II 2022-23; ECON211 MATHEMATICAL ECONOMICS 2 2022-23; ECON221 MICROECONOMICS 1 2022-23 

Modules for which this module is a pre-requisite:
 

Programme(s) (including Year of Study) to which this module is available on a required basis:
 

Programme(s) (including Year of Study) to which this module is available on an optional basis:
 

Teaching Schedule
  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours   12

       24

12

 48
Timetable (if known)              
Private Study 102
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Assessment : Online assessment Assessment Type: Written Examination Duration: 24 hours Weighting: 100% Reassessment Opportunity: Yes Penalty for Late Submission: Standard Anonymous Assessm  24    100       
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
             

Aims

This module will cover selected topics in economic growth and innovation. It will build on the intermediate macroeconomics curriculum by developing some formal models of economic growth. The module will give students a firm appreciation of modern developments in the theory of economic growth and of the strengths and limitations of these and older models.   Students will gain an understanding of a range of more complex influences on growth.   Students will gain an insight into a range of policy approaches governments might take to improve growth.

Learning Outcomes

(LO1) Students will be able to identify and evaluate general equilibrium models.

(LO2) Students will be able to proficiently apply dynamic general equilibrium models.

(LO3) Students will be able to discuss theoretical models of economic growth and their policy implications.

(S1) Problem solving skills

(S2) Numeracy

(S3) Commercial awareness

(S4) Communication skills

(S5) IT skills

(S6) International awareness

(S7) Lifelong learning skills

(S8) Ethical awareness

Teaching and Learning Strategies

Teaching Delivery: Mixed, hybrid delivery with social distancing on campus

Teaching Method: Online Asynchronous Learning Materials
Description: Recordings will be designed to provide essential information and introduce students to theoretical models
Unscheduled Directed Student Hours: 24
Attendance Recorded: No

Teaching Method: Seminar
Description: Seminars will be based around the study of problem sets.
Scheduled Directed Student Hours: 12
Attendance Recorded: Yes

Teaching Method: Group Study
Description: Weekly 1 hour session to foster student community and engagement by working with others on their ‘active learning’ activities
Scheduled Student Hours: 12
Attendance Recorded: No

Self-Directed Learning Hours: 102

Costs Information:
No additional costs for students are associated with this module

Skills/Other Attributes Mapping

Skills / attributes: Ethical a wareness
How this is developed: Taught
Mode of assessment (if applicable): Unseen Examination

Skills / attributes: Lifelong learning skills
How this is developed: Ability to critically appraise the work of others
Mode of assessment (if applicable)

Skills / attributes: International awareness
How this is developed: Taught
Mode of assessment (if applicable): Unseen Examination

Skills / attributes: IT skills
How this is developed: Accessing course materials through VITAL
Mode of assessment (if applicable)

Skills / attributes: Communication skills
How this is developed: Ability to communicate ideas
Mode of assessment (if applicable): Unseen Examination

Skills / attributes: Commercial awareness
How this is developed: Taught
Mode of assessment (if applicable): Unseen Examination

Skills / attributes: Numeracy
How this is developed: Taught
Mode of assessment (if applicable): Unseen Examination

Ski lls / attributes: Problem solving skills
How this is developed: Taught
Mode of assessment (if applicable)

Syllabus
 

We will begin this module by reviewing basic growth models, such as Solow, Ramsey, AK and Romer, followed by an in-depth analysis of the Schumpeterian growth model. Using the Schumpeterian model, we will analyse a number of policy issues, such as scale effects, R&D underinvestment, intellectual property rights and competition policy. Finally, we will analyse how economic growth is influenced by credit constraints, technology transfer across countries, skill-biased technical change, appropriate institutions and non-convergence trap.

Recommended Texts
Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.