The book is explicitly designed to fulfill two distinct but related objectives.

1. A Graduate-Level Introduction to Modern Economic Growth: The primary purpose is to provide a thorough treatment of the theories explaining long-run economic growth and the vast differences in economic performance across countries.
2. A Graduate-Level Introduction to Modern Macroeconomics: The text posits that a core of modern macroeconomic theory, shared by most economists, is rooted in dynamic models of economic growth. As stated in the text: “While there is disagreement among macroeconomists about how to approach short-run macroeconomic phenomena… there is broad agreement about the workhorse models of dynamic macroeconomic analysis. These include the Solow growth model, the neoclassical growth model, the overlapping-generations model and models of technological change and technology adoption.”

By focusing exclusively on these long-run topics, the book aims to provide a rigorous introduction to what it views as “the core of macroeconomics.”

Pedagogical Approach

The text employs a comprehensive pedagogical structure:

• Discrete and Continuous Time: Unlike many texts that use either discrete or continuous time exclusively, this book includes both formulations for most core models, arguing that a serious researcher must be proficient in both.
• Mathematical Foundations: Conceptual and mathematical foundations, including dynamic optimization (Dynamic Programming and Optimal Control), are presented in dedicated chapters rather than being relegated to an appendix.
• Exercises: A large number of exercises are included, with more difficult ones marked, to ensure students gain a thorough understanding of the material by actively working through the models.