Macroeconomic Theory I
MIT's graduate course on the theory of long-run economic growth, offered through MIT OpenCourseWare. The syllabus moves from the basic facts of economic growth and development through a brief overview of optimal control theory and dynamic programming, then builds the neoclassical growth model under different market structures. From there it covers human capital's role in growth, endogenous growth models, models of endogenous and directed technical change, competition and market structure, financial development, international trade, and the influence of institutions on long-run development. Materials include the course syllabus, readings, and problem sets as posted on OCW, reflecting a half-term graduate subject with a limited class size. There are no videotaped lectures, but the reading list and assignments give a full picture of what MIT's economics PhD students work through in this half of their growth theory sequence. No certificate is offered, consistent with standard MIT OpenCourseWare materials.