Growth Theory and Policy
Core aspects of growth theories in economic thought.
This is an introduction to core aspects of growth theories in economic thought, both the heterodox and the mainstream: ranging from Adam Smith, Thomas Malthus and Karl Marx for the classical traditions and Robert Solow and Paul Romer for neoclassical traditions. You will then explore structural change through the work of Arthur Lewis and Simon Kuznets and move towards theories of demand-led growth of Harrod, Kaldor, Pasinetti, Thirlwall, Matthew Smith . Learn about growth accounting, convergence-divergence, and the capital theoretic critique of neoclassical growth models. We end this course with a critical engagement of the growth policies embedded in India’s Union Budget and Economic Survey documents.