B09.2317, Spring 1998

P. Wachtel and N. Roubini


Growth, Productivity and Convergence
Professor Robert Solow

After Spring break, Robert Solow, Institute Professor at MIT, Nobel laureate in Economics and the father of growth-theory, will be visiting Professor Roubini’s and Wachtel’s Macro classes. On Monday March 23rd, Professor Solw will be lecturing on the above topics and on subsequent days he will be leading discussion groups with individual classes. You should be prepared to participate actively in the discussion with Professors Solow, Roubini and Wachtel.


In order to prepare for the Solow’s lecture and the discussions, some background readings are enclosed:

Lau, Lawrence J. "The Sources of Long-Term Economic Growth: Observations from the Experience of Developed and Developing Countries," in The Mosaic of Economic Growth. Editors: Ralph Landau, Timothy Taylor, and Gavin Wright. Stanford University Press, 1996.

Lysko, Wolodar. "Manufacturing Multifactor Productivity in Three Countries," Bureau of Labor Statistics.

Pritchett, Lant. "Divergence, Big Time." Journal of Economic Perspectives. Volume 11, Number 3, Summer 1997.

In addition, the following web resources will be helpful: "International Comparisons of Manufacturing Productivity and Unit Labor Cost Trends, 1996." Bureau of Labor Statistics. (A data source).   http://stats.bls.gov/news.release/prod4.toc.htm   Nouriel Roubini’s resource site on Productivity Growth and the Slowdown for an overview of productivity trends and the evidence on the slowdown.


Nouriel Roubini’s resource site on the Asian Economic Miracle: Input Growth or Productivity Growth for the debate on economic growth in the Asian tigers – was it due to the growth of resource availability or the growth of total factor productivity?





Monday, March 23rd

8:30 and 10:00 -- Solow lectures in MEC 1-70

Wenesday, March 25th

8:30 Wachtel’s class – discussion session with Solow

Roubini’s class – regular session

10:00 Wachtel’s class – regular session

Roubini’s class – discussion session with Solow

Monday, March 30th

8:30 Wachtel’s class – regular session

Roubini’s class – discussion session with Solow

10:00 Wachtel’s class – discusion session with Solow

Roubini’s class – regular session

Wednesday, April 1st

Core classes cancelled for MET

Monday, April

Return to normal schedule