This course provides a comprehensive understanding of the concept and process of economic growth.
It introduces students to the distinction between economic growth and development, determinants and measurement of growth, and the characteristics of developing economies. The course examines major classical and modern theories of economic growth, including the contributions of Adam Smith, David Ricardo, Karl Marx, Schumpeter, Harrod-Domar, Solow, Joan Robinson, Paul Romer, Fei-Ranis, and Unified Growth Theory. It also explores contemporary perspectives on growth such as balanced and unbalanced growth strategies, convergence theory, human capital formation, technological change, production functions, and structural transformation. Through theoretical analysis and application of growth models, students will develop the ability to evaluate different approaches to economic growth and gain a holistic understanding of the growth process and its relevance to economic development.