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Introduction To Modern Economic Growth, Hardcover by Acemoglu, Daron, Brand N...
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Item specifics
- Condition
- Book Title
- Introduction To Modern Economic Growth
- ISBN
- 9780691132921
- Subject Area
- Business & Economics
- Publication Name
- Introduction to Modern Economic Growth
- Item Length
- 10.3 in
- Publisher
- Princeton University Press
- Subject
- Economics / Macroeconomics, Development / Economic Development, Economics / Theory
- Publication Year
- 2009
- Type
- Textbook
- Format
- Hardcover
- Language
- English
- Item Height
- 1.5 in
- Item Width
- 8.2 in
- Item Weight
- 67.2 Oz
- Number of Pages
- 1008 Pages
About this product
Product Information
Introduction to Modern Economic Growth is a groundbreaking text from one of today's leading economists. Daron Acemoglu gives graduate students not only the tools to analyze growth and related macroeconomic problems, but also the broad perspective needed to apply those tools to the big-picture questions of growth and divergence. And he introduces the economic and mathematical foundations of modern growth theory and macroeconomics in a rigorous but easy to follow manner. After covering the necessary background on dynamic general equilibrium and dynamic optimization, the book presents the basic workhorse models of growth and takes students to the frontier areas of growth theory, including models of human capital, endogenous technological change, technology transfer, international trade, economic development, and political economy. The book integrates these theories with data and shows how theoretical approaches can lead to better perspectives on the fundamental causes of economic growth and the wealth of nations. Innovative and authoritative, this book is likely to shape how economic growth is taught and learned for years to come. Introduces all the foundations for understanding economic growth and dynamic macroeconomic analysis Focuses on the big-picture questions of economic growth Provides mathematical foundations Presents dynamic general equilibrium Covers models such as basic Solow, neoclassical growth, and overlapping generations, as well as models of endogenous technology and international linkages Addresses frontier research areas such as international linkages, international trade, political economy, and economic development and structural change An accompanying Student Solutions Manual containing the answers to selected exercises is available (978-0-691-14163-3/$24.95). See: https: //press.princeton.edu/titles/8970.html. For Professors only: To access a complete solutions manual online, email us at: acemoglusolutions@press.princeton.edu
Product Identifiers
Publisher
Princeton University Press
ISBN-10
0691132925
ISBN-13
9780691132921
eBay Product ID (ePID)
66981536
Product Key Features
Publication Name
Introduction to Modern Economic Growth
Format
Hardcover
Language
English
Subject
Economics / Macroeconomics, Development / Economic Development, Economics / Theory
Publication Year
2009
Type
Textbook
Subject Area
Business & Economics
Number of Pages
1008 Pages
Dimensions
Item Length
10.3 in
Item Height
1.5 in
Item Width
8.2 in
Item Weight
67.2 Oz
Additional Product Features
LCCN
2008-038853
Lc Classification Number
Hd75.A24 2009
Reviews
Beyond coursework, this is a book that should be compulsory reading for any PhD student in macroeconomics, even for those whose thesis does not specifically focus on growth. [S]elected materials from this book, and Part I in particular, could also be included in the reading list of an undergraduate course in advanced macroeconomics. . . . This book will be an inseparable and precious companion . . . for many years to come. ---Fabrizio Carmignani, Economic Record, "This is a pathbreaking, fundamentally important work." 'e"Charles Jones, University of California, Berkeley, "An extraordinary achievement by an extraordinary intellect, this book provides a remarkably comprehensive overview of modern growth economics as well as a window into Daron Acemoglu's fundamentally important perspectives and insights. For years to come, it will be a cornerstone for advanced teaching and an invaluable resource for researchers. It represents economics at its most profound." 'e"Steven N. Durlauf, University of Wisconsin-Madison, "It's hard not to be impressed by Acemoglu's mastery of the subject and for a handful of top graduate programs this is clearly the book for the next generation."-- Tyler Cowen, Marginal Revolution, "Beyond coursework, this is a book that should be compulsory reading for any PhD student in macroeconomics, even for those whose thesis does not specifically focus on growth. [S]elected materials from this book, and Part I in particular, could also be included in the reading list of an undergraduate course in advanced macroeconomics. . . . This book will be an inseparable and precious companion . . . for many years to come."-- Fabrizio Carmignani, Economic Record, "An extraordinary achievement by an extraordinary intellect, this book provides a remarkably comprehensive overview of modern growth economics as well as a window into Daron Acemoglu's fundamentally important perspectives and insights. For years to come, it will be a cornerstone for advanced teaching and an invaluable resource for researchers. It represents economics at its most profound." --Steven N. Durlauf, University of Wisconsin-Madison, "Beyond coursework, this is a book that should be compulsory reading for any PhD student in macroeconomics, even for those whose thesis does not specifically focus on growth. [S]elected materials from this book, and Part I in particular, could also be included in the reading list of an undergraduate course in advanced macroeconomics. . . . This book will be an inseparable and precious companion . . . for many years to come." --Fabrizio Carmignani, Economic Record, "This is a pathbreaking, fundamentally important work." --Charles Jones, University of California, Berkeley, "Reading Daron Acemoglu's massive and masterly survey makes me feel like one of the Wright brothers coming face to face with a Boeing 747 for the first time. The range is enormous, from the simplest model to the political economy of growth, and everything is traced back to fundamentals with great skill and care. Being stranded on a desert island with this book and a large pad of paper would be a pleasure." 'e"Robert M. Solow, Nobel Laureate in Economics, "Daron Acemoglu's Introduction to Modern Economic Growth takes the reader on a fascinating journey to discover the foundations of major growth theories, from the neoclassical paradigm to the most recent endogenous growth models. This book is required reading for anyone who wants to master the fields of growth and development economics." --Philippe Aghion, Harvard University, "This book will be a landmark in growth economics. Its scope and depth are remarkable, and the benefits of this new synthesis are clear. Many of the chapters are likely to prompt ideas for further research, and the book will be a major event for researchers and graduate students alike." --Jonathan Temple, University of Bristol, It's hard not to be impressed by Acemoglu's mastery of the subject and for a handful of top graduate programs this is clearly the book for the next generation. -- Tyler Cowen, Marginal Revolution, "This book will be a landmark in growth economics. Its scope and depth are remarkable, and the benefits of this new synthesis are clear. Many of the chapters are likely to prompt ideas for further research, and the book will be a major event for researchers and graduate students alike." 'e"Jonathan Temple, University of Bristol, "It's hard not to be impressed by Acemoglu's mastery of the subject and for a handful of top graduate programs this is clearly the book for the next generation." --Tyler Cowen, Marginal Revolution, It's hard not to be impressed by Acemoglu's mastery of the subject and for a handful of top graduate programs this is clearly the book for the next generation. ---Tyler Cowen, Marginal Revolution, "This is much more than a textbook on growth theory; it is a milestone in macroeconomics. It provides a unified approach to the study of economic dynamics, including a rigorous yet teachable background in recursive methods and dynamic optimization, and an impressive range of macroeconomic topics. What is most fascinating is the tour of the state-of-the-art literature on long-run development to which the author has been a leading contributor." --Fabrizio Zilibotti, University of Zurich, "This is much more than a textbook on growth theory; it is a milestone in macroeconomics. It provides a unified approach to the study of economic dynamics, including a rigorous yet teachable background in recursive methods and dynamic optimization, and an impressive range of macroeconomic topics. What is most fascinating is the tour of the state-of-the-art literature on long-run development to which the author has been a leading contributor." 'e"Fabrizio Zilibotti, University of Zurich, "This book is impressive in both its breadth and its depth. It offers an ideal access point to the current frontier in growth theory; readers will find a remarkably thorough treatment of all the key models and technical tools of dynamic macroeconomics. At the same time, real-world economic and policy issues always remain in sharp focus, thanks to a constant back-and-forth between theory, the most recent empirical studies, and the lessons of economic history. It will quickly become a much-thumbed book on the shelf of all those interested in growth, development, and macroeconomics." 'e"Roland J. M. Benabou, Princeton University, "Daron Acemoglu's Introduction to Modern Economic Growth takes the reader on a fascinating journey to discover the foundations of major growth theories, from the neoclassical paradigm to the most recent endogenous growth models. This book is required reading for anyone who wants to master the fields of growth and development economics." 'e"Philippe Aghion, Harvard University, "This book is impressive in both its breadth and its depth. It offers an ideal access point to the current frontier in growth theory; readers will find a remarkably thorough treatment of all the key models and technical tools of dynamic macroeconomics. At the same time, real-world economic and policy issues always remain in sharp focus, thanks to a constant back-and-forth between theory, the most recent empirical studies, and the lessons of economic history. It will quickly become a much-thumbed book on the shelf of all those interested in growth, development, and macroeconomics." --Roland J. M. Benabou, Princeton University, "Reading Daron Acemoglu's massive and masterly survey makes me feel like one of the Wright brothers coming face to face with a Boeing 747 for the first time. The range is enormous, from the simplest model to the political economy of growth, and everything is traced back to fundamentals with great skill and care. Being stranded on a desert island with this book and a large pad of paper would be a pleasure." --Robert M. Solow, Nobel Laureate in Economics, It's hard not to be impressed by Acemoglu's mastery of the subject and for a handful of top graduate programs this is clearly the book for the next generation.
Table of Content
Preface xvPart I: IntroductionChapter 1: Economic Growth and Economic Development: The Questions 3 1.1 Cross-Country Income Differences 3 1.2 Income and Welfare 7 1.3 Economic Growth and Income Differences 9 1.4 Origins of Today's Income Differences and World Economic Growth 11 1.5 Conditional Convergence 15 1.6 Correlates of Economic Growth 18 1.7 From Correlates to Fundamental Causes 19 1.8 The Agenda 21 1.9 References and Literature 23Chapter 2: The Solow Growth Model 26 2.1 The Economic Environment of the Basic Solow Model 27 2.2 The Solow Model in Discrete Time 34 2.3 Transitional Dynamics in the Discrete-Time Solow Model 43 2.4 The Solow Model in Continuous Time 47 2.5 Transitional Dynamics in the Continuous-Time Solow Model 51 2.6 A First Look at Sustained Growth 55 2.7 Solow Model with Technological Progress 56 2.8 Comparative Dynamics 67 2.9 Taking Stock 68 2.10 References and Literature 69 2.11 Exercises 71Chapter 3: The SolowModel and the Data 77 3.1 Growth Accounting 77 3.2 The Solow Model and Regression Analyses 80 3.3 The Solow Model with Human Capital 85 3.4 Solow Model and Cross-Country Income Differences: Regression Analyses 90 3.5 Calibrating Productivity Differences 96 3.6 Estimating Productivity Differences 100 3.7 Taking Stock 105 3.8 References and Literature 106 3.9 Exercises 107Chapter 4: Fundamental Determinants of Differences in Economic Performance 109 4.1 Proximate versus Fundamental Causes 109 4.2 Economies of Scale, Population, Technology, and World Growth 112 4.3 The Four Fundamental Causes 114 4.4 The Effect of Institutions on Economic Growth 123 4.5 What Types of Institutions? 136 4.6 Disease and Development 137 4.7 Political Economy of Institutions: First Thoughts 140 4.8 Taking Stock 140 4.9 References and Literature 141 4.10 Exercises 143Part II: Toward Neoclassical GrowthChapter 5: Foundations of Neoclassical Growth 147 5.1 Preliminaries 147 5.2 The Representative Household 149 5.3 Infinite Planning Horizon 156 5.4 The Representative Firm 158 5.5 Problem Formulation 160 5.6 Welfare Theorems 161 5.7 Proof of the Second Welfare Theorem (Theorem 5.7) * 168 5.8 Sequential Trading 171 5.9 Optimal Growth 174 5.10 Taking Stock 176 5.11 References and Literature 176 5.12 Exercises 178Chapter 6: Infinite-Horizon Optimization and Dynamic Programming 182 6.1 Discrete-Time Infinite-Horizon Optimization 182 6.2 Stationary Dynamic Programming 185 6.3 Stationary Dynamic Programming Theorems 187 6.4 The Contraction Mapping Theorem and Applications * 190 6.5 Proofs of the Main Dynamic Programming Theorems * 194 6.6 Applications of Stationary Dynamic Programming 201 6.7 Nonstationary Infinite-Horizon Optimization 211 6.8 Optimal Growth in Discrete Time 215 6.9 Competitive Equilibrium Growth 219 6.10 Computation 221 6.11 Taking Stock 221 6.12 References and Literature 222 6.13 Exercises 223Chapter 7: An Introduction to the Theory of Optimal Control 227 7.1 Variational Arguments 228 7.2 The Maximum Principle: A First Look 235 7.3 Infinite-Horizon Optimal Control 240 7.4 More on Transversality Conditions 250 7.5 Discounted Infinite-Horizon Optimal Control 253 7.6 Existence of Solutions, Concavity, and Differentiability * 259 7.7 A First Look at Optimal Growth in Continuous Time 268 7.8 The q-Theory of Investment and Saddle-Path Stability 269 7.9 Taking Stock 274 7.10 References and Literature 275 7.11 Exercises 278Part III: Neoclassical GrowthChapter 8: The Neoclassical Growth Model 287 8.1 Preferences, Technology, and Demographics 287 8.2 Characterization of Equilibrium 293 8.3 Optimal Growth 298 8.4 Steady-State Equilibrium 300 8.5 Transitional Dynamics and Uniqueness
Copyright Date
2009
Target Audience
College Audience
Dewey Decimal
338.9
Dewey Edition
22
Illustrated
Yes
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