The course “Central and Eastern Europe in the Context of Global Economic Growth” is designed to deal with different growth patterns of EU, USA and China and the position of Central and Eastern Europe (CEE) countries in that context, in the view of macroeconomic theory and global and regional empirics of economic growth. As some world leading countries in the world and some EU and CEE countries experience solid economic growth, others have economic problems. These phenomena open a series of questions: Why are some countries lagging behind, and why some others grow? What are the main drivers and factors behind its economic growth? What is their place in the global economy? These issues are of central importance for this course.

The course consists of two parts. The first part reviews the facts of growth and presents the main theories that try to account for them. In the second part, the attention is paid to understanding the role of different factors, especially technology, innovation and institutions in this process of growth in EU, USA, China and CEE countries. Also, the course focuses on these issues through experience of EU, USA, China and CEE countries in a global context.

After completing this course students will be able to:

• Organize thinking about economic growth and conduct empirical investigations into the determinants of growth.
• Analyze the theories, concepts, and the role of economic growth framework
• Evaluate the relationship between several macroeconomic variables in the context of economic growth of EU, USA, China and CEE countries
• Identify policy options and assess the likelihood of improving economic growth and efficiency in EU, USA, China and CEE countries

In  seven  units  of  three  hours  each,  we  will  present  and  discuss  issues  concerning  several macroeconomic variables in the context of economic growth of EU, USA, China and CEE countries. The course starts  out  (unit  1)  with  an  introduction of  basic facts on economic growth of EU, USA, China and CEE countries. In unit 2 a framework for analysis is made. Students learn here about macroeconomic growth models from Harrod Domar to modern models, with an emphasis on exogenous and endogenous growth models. Unit 3 is dealing with factor accumulation, physical capital and finance, as well as population, human capital and education in EU, USA, China and CEE countries in comparison with global levels and averages. In Unit 4 we will disscus productivity, technology, innovation and imitation in EU, USA, China and CEE countries. After that we will focus our atention to governance, institutions and inequality (Unit 5), geography, history, culture and religion in EU, USA, China and CEE countries (Unit 6). Final unit (Unit 7) will cover globalisation, foreign investments and trade, as well as sustainable development and future prospects of EU, USA, China and CEE.

With the help of a mix of materials (lecture slides, research papers, films) and a mix of teaching methods (lecturing, class discussions, group work,)  this  course  aims  to  provide students with  a  sustainable  knowledge  base on economies and economic growth of EU, USA, China and CEE countries.

Overall participation in in-class debates: 20% (0-20 points assessed on the basis of active taking part in discussions and problem solving)
Three-person group presentation on a selected topic: 30% (0-10 points for the overall (powerpoint or equivalent) presentation, 0-10 points for the quality and accuracy of information, 0-10 points for individual assessment)
Final written examination: 50%
Pass threshold: 60%

Ass.Prof. Stevo Pucar, Ph.D.: stevo.pucar@ef.unibl.org

For any organisational questions please contact Anna Rösch at coursesinenglish@wu.ac.at