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ECOM-427 Globalization and Growth, 5 cr 
Code ECOM-427  Validity 01.01.2017 -
Name Globalization and Growth  Abbreviation Globalization 
Scope5 cr   
TypeAdvanced studies
  GradingGeneral scale 
    Can be taken more than onceno
Unit Master's Programme in Economics 

Saku Mitrunen 

Target group 

Master’s Programme in Economics. Open to other students as well.


Annually in the third period

Learning outcomes 

After the course, the student should

  • Know the mathematical methods that are used in solving models of economic growth 
  • Be familiar with typical models of global economic growth, their implications, and able to solve them independently
Completion methods 

The course consists of lectures (24 hours) and exercises either in separate sessions or integrated into the lectures. The lectures and exercise sessions are not mandatory. There is a written final exam and homework assignments. The homework assignments consist of analytical exercises. These familiarize the student with the theory and calculations typically required in the practical implementation of the models.


Macroeconomics 1 or Advanced Macroeconomics 1

The student is assumed to be familiar with the total differential of the functions, the properties of homogeneous functions and the elements of both probability calculation and linear differential and difference equations.

Recommended optional studies 

Courses on difference and differential equations and optimal control theory


The course considers growth models, how to solve them and what are their implications and empirical applications. The course helps to understand the mechanics of economic growth and income differences across countries.

Study materials and literature 

Lecture slides and journal articles assigned by the lecturer are mandatory. The course does not have a main textbook but Daron Acemoglu, Introduction to Modern Economic Growth, Princeton University Press, 2009 is strongly recommended reading.

Activities and teaching methods in support of learning 

All mandatory material related to the course is delivered through the Moodle area of the course, which also contains a discussion forum where students can discuss issues related to the course with each other and the teacher.

Assessment practices and criteria 

The grade on a scale from 0 (fail) to 5 is based on a written exam.


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