Syllabus

• First part: Elementary Theory of Production
  • Production with land and labour without capital (Lecture 1)
  • Production with capital and labour without land (Lecture 7)
  • Fixed capital and Natural resources (Lectures 9-11)
• Second part: Classical theory of growth and accumulation
  • Closed and open economies (Lectures 2-4)
  • The World economy (Lectures 5-6)
• Third part: Criticism of Neo-Classical theory
  • Capital theory and criticism of Neo-Classical theory of distribution (Lecture 8)

Lecture 1: Production with land and labour without capital: rise and fall of the production function.

Reference: Kurz, H.D. & Salvadori, N. (2015) ‘A Single Commodity Produced by Labour and Land’ in Baranzini, Rotondi, & Scazzieri (eds), Resources, Production, and Structural Dynamics, CUP.

Lecture 2: Ricardo´s theory of growth and accumulation: The One-sector Model.

Reference: Kaldor, N. (1956). Alternative Theories of Distribution, Review of Economic Studies, 23, pp. 83-100.

Reference: Kurz, H.D. & Salvadori, N. (2007) Interpreting Classical Economics: Studies in Long-period Analysis, London and New York: Routledge, 2007. Chapter 4: 'Endogeneous' Growth Models and the 'Classical' Tradition.

Lecture 3: Ricardo´s theory of growth and accumulation: The Two-sector Model.

Reference: Pasinetti, L.L. (1960). A Mathematical Formulation of the Ricardian System. The Review of Economic Studies, 27 (2): 78 − 98.

Reference: D’Alessandro S. & Salvadori, N. (2008) Pasinetti versus Rebelo: Two different models or just one?, Journal of Economic Behavior & Organization, 65(3), pp. 547-554, 2008.

Reference: Kurz, H.D. & Salvadori, N. (2007) Interpreting Classical Economics: Studies in Long-period Analysis, London and New York: Routledge, 2007. Chapter 4: 'Endogeneous' Growth Models and the 'Classical' Tradition.

Lecture 4: Ricardo´s theory of growth and accumulation: A small open economy.

Reference: Pasinetti, L.L. (1960). A Mathematical Formulation of the Ricardian System. The Review of Economic Studies, 27 (2): 78 − 98.

Reference: Salvadori, N. and R. Signorino (2016). From stationary state to endogenous growth: International trade in the mathematical formulation of the Ricardian system. Cambridge Journal of Economics, 40 (3): 895 − 912.

Reference: Salvadori, N. and R. Signorino (2017). The Ricardian System. A Graphical Exposition. In Masatomi Fujimoto, Shigeyoshi Senga and Taichi Tabuchi (eds) (2017). Ricardo and International Trade. London and New York: Routledge, pp. 60 – 81.

Lecture 5: Ricardo´s theory of growth and accumulation: The world economy.

Reference: Salvadori, N. and R. Signorino (2016). From Endogenous Growth to the Stationary State: The world economy in the mathematical formulation of the Ricardian system”. The European Journal of the History of Economic Thought, 24 (3): 507 − 527.

Reference: Salvadori, N. and R. Signorino (2017). The Ricardian System. A Graphical Exposition. In Masatomi Fujimoto, Shigeyoshi Senga and Taichi Tabuchi (eds) (2017). Ricardo and International Trade. London and New York: Routledge, pp. 60 – 81.

Lecture 6: Ricardo´s theory of growth and accumulation: On foreign trade once again.

Reference: Salvadori, N. and R. Signorino (2016). From Endogenous Growth to the Stationary State: The world economy in the mathematical formulation of the Ricardian system”. The European Journal of the History of Economic Thought, 24 (3): 507 − 527.

Reference: Freni, G., N. Salvadori, and R. Signorino (2017). Back to agriculture? Malthus (1817 and 1826), Torrens (1815) and Ricardo (1822) on International Trade and Structural Change, mimeo.

Lecture 7: Production with capital and labour without land.

Reference: Kurz, H.D. & Salvadori, N. (1995) Theory of Production. A Long-Period Analysis, Cambridge: Cambridge University Press, 1995. Chapters 2 and 3.

Reference: Kurz, H.D. & Salvadori, N. (2001) Production Theory: An Introduction”, Indian Economic Journal, 2001 . Reprinted in Kurz, H.D. & Salvadori, N. (2003). Classical Economics and Modern Theory: Studies in Long-period Analysis, London and New York: Routledge; pp. 238-255.

Lecture 8: Capital theory and criticism of Neo-Classical theory of distribution.

Reference: Kurz, H.D. & Salvadori, N. (1995) Theory of Production. A Long-Period Analysis, Cambridge: Cambridge University Press, 1995. Chapters Chapters 4.4.1 and 14.

Lecture 9: Fixed capital.

Reference: Kurz, H.D. & Salvadori, N. (2001) Production Theory: An Introduction”, Indian Economic Journal, 2001 . Reprinted in Kurz, H.D. & Salvadori, N. (2003). Classical Economics and Modern Theory: Studies in Long-period Analysis, London and New York: Routledge; pp. 238-255.

Lecture 10: Renewable resources.

Reference: Kurz, H.D. & Salvadori, N. (1995) Theory of Production. A Long-Period Analysis, Cambridge: Cambridge University Press, 1995. Chapters Chapter 12.3.

Lecture 11: Exhaustible resources.

Reference: Kurz, H.D. & Salvadori, N. (2009) Ricardo on exhaustible resources, and the Hotelling Rule, in Aiko Ikeo e Heinz D. Kurz (Eds), A History of Economic Theory. Essays in honour of Takashi Negishi, London (U.K.): Routledge. Reprinted in Kurz, H.D. & Salvadori, N. (2014) Revisiting Classical Economics: Studies in Long-period Analysis, London and New York: Routledge, Chapter 14.

Reference: Kurz, H.D. & Salvadori, N. (2011) Exhaustible resources: rents, profits, royalties and prices, in Volker Caspari (Ed.), The Evolution of Economic Theory. Essays in honour of Bertram Schefold, London (U.K.): Routledge. Reprinted in Kurz, H.D. & Salvadori, N. (2009) Revisiting Classical Economics: Studies in Long-period Analysis, London and New York: Routledge, Chapter 15.

An oral examination based on some questions on the following documents

• GraficalExposition.pdf
• LandAndLabour.pdf
• TheoryProductionIntroduction.pdf

and other two documents at choice of the students among the documents

• ComplementToSection2OfGraficalExposition.pdf
• FromEndoGrowthToStationState.pdf
• FromStationaryStateToEndogeneousGrowth.pdf
• ExhaustibleResources.pdf
• JEBO_SD'A&NS.pdf
• LandAndLabour_Complements.pdf (jointly with ToP_Ch2.pdf)
• RenewableResources.pdf
• ToP_14.pdf (jointly with ToP_4.4.1.pdf)