Sergio Cesaratto


In view of the resurgence of Covid, out of respect for the teacher who is in the at-risk age group, a mask is welcome in class and at the exam, and social distancing (leave the first row of seats free). Windows will be kept open (cover up if it is cold!). Thank you


26/10/2023 Results of the first intermediate test. You may complete with part B on 30 November or in the official session 24/1 or 20/2. I am pleased that almost all the students came with a good preparation, excellent in some cases, showing an effort to catch my main messages (I hope you have read the letter from the young German collegue below). Comments on your experience in this course would be very helpful. You may send them by email.

Marks on the single questions A/B/C/F (for failed). Total mark X/30.

137817 MIOJ B/C C/F C/F F F Insufficient (it is a waste of time for both to come to the exam without having seriously studied!). There is a version of the book in Spanish, just contact me.

128777 AK  B- B+ B/A A/B B B/A  28/29+

137664 NKR  B+ B/A A+- B/A+ C/B C  28+-

137592 AN  B B/A A A A A 30+-

137618  NS  a bit too “synthetic”! B B+ C+B B B/A  28 +-

137450  CK  B B/C B B+ B+ C/F  26/27 +-

137429  QLD  C+- B+- C- C- F C- 22/23 very confused

137590 SB  B B A A A A+-  29/30 +

136457  MM B B+ A+- A/B+- F F  23

137717  BG B B/A A+-  A+- A+- A+-  29+

132265  FS  All A  30+

A mail from a young German collegue:

Dear professor Cesaratto,

you handed me a copy of your introductory book “Heterodox Challenges in
Economics” at the Centro Sraffa Summer school in Rome. I just wanted to
thank you again for that and let you know, that it is of great use for
me. I will let the students in my seminar on “theory of science and the
critique of political economy” this term read some parts of your book.
Also I included Krishna Bharadwaj’s paper on classical political economy
and Lazzarini’s paper on the cambdridge capital controversy, that you
recommended in your book, into the syllabus.

I think, it is really very important to try and explain scientific
theories for a broader audience. Not only does that make economics
accessible for the public – it also facilitates the interdisciplinary
exchange between economics and sociology and helps to avoid further
misunderstandings on both sides.

I hope, that mail finds you well and wish you a pleasant fall term!

Best regards from Leipzig/Jena in Germany, K. P.

Sample of examination tests part A (as you can see the questions are more or less always the same) Esempi di test passati

 Please check also  prof.Pariboni’e web page for updates on his section of this course.

Growth and development – Programme 2023-24

Proff. S. Cesaratto and R. Pariboni

Part I (prof. Sergio Cesaratto) updated 26 September 2023

  1. The facts on growth, development, and population: past, present, future (mainly home work).

We shall start by examining some stylized facts on economic development beginning with the first economic revolution (Neolithic and urban revolututions) up to the post WWII period; we shall also examine the Malthusian Hypothesis on population growth, the demographic transition and some current trends in population growth.


PPP:  First lecture 29 IX 2023

Svizzero, S. & Tisdell, C., 2014. Theories about the Commencement of Agriculture in Prehistoric Societies: A Critical Evaluation, WP School of Economics, the University of Queensland, no. 68.

Sergio Cesaratto, Heterodox Challenges in Economics – Theoretical Issues and the Crisis of the Eurozone, Springer, 2020, particolarly pp. 13-18.

Maddison, Angus, The World Economy: A Millennial Perspective, Development Centre Studies: Paris: OECD Publishing; 12 June 2001; available from the library (use one search). Chapters 1, 2, 3 are all interesting, but for the exam you may focus upon pp. 17-32, 44-48, 125-135.  Maddison with higlights (in yellow) Please, download it asap that I have not much space for other materials.

On the Malthusian Hypothesis and the demographic transition PPP: The Malthusian Hypothesis

Per una critica del modello Malthusiano v. Tisdell, Clem & Svizzero, Serge, 2015. “The Malthusian Trap and Development in Pre-Industrial Societies: A View Differing from the Standard One,” Social Economics, Policy and Development Working Papers 197551, University of Queensland, School of Economics

On population trends, read at least the “key messages (pp. i-iii) of: World Population Prospects 2022

Further readings

On the origin of social stratification: Ames, K. M. (2010) On the Evolution of the Human Capacity for Inequality and/or Egalitarianism. In Pathways to Power: Fundamental Issues in Archaeology, edited by Price, T. D., Feinman, G. M. (eds.), New York: Springer

On the urban revolution: Childe, V.G. (1950) The Urban Revolution, The Town Planning Review, Vol. 21, No. 1, pp. 3-17 [you may also read: Smith, M. E.  (2009) V. Gordon Childe and the Urban Revolution: a historical perspective on a revolution in urban studies, Town Planning Review, 80 (1) 2009]

On “New institutional economics”: D.C. North, Institutions, J. of Economic Perspectives, vol. 5(1) Winter 1991.

  1. Background economic theories

In section 2 we shall revise the main economic theories which influence our views of economic growth and development. Alternative growth models examined by prof. Pariboni are based on these theories.

Chapters to be studied refer to: Sergio Cesaratto, Heterodox Challenges in Economics – Theoretical Issues and the Crisis of the Eurozone, Springer, 2020

2.1..Introduction Chapter 1 Please, read it

2.2. The classical surplus approach (Mercantilists, Smith, Ricardo, Marx and Sraffa) Chapter 2 Focus on sections 2.1/2/3/8/12/18 (but if interested read the rest). PPP: Surplus approach

We shall come back on economic the usefulnes of the surplus approach in economic history and in the analysis of institutions

PPP: PPP precapitalist formations & surplus approach

2.3. Marginalism(neoclassical theory) Chapter 2 Focus on sections 3.1/2/3/4/5/6/7/10/11 (but if interested read the rest).

2.4. The Keynesian revolution Chapter 4. Focus on sections from 4.1 to 4.9 and the appendix (but if interested read the rest)

2.5. Theories of money (exogenous and endogenous), the foreign constraint and the balance of payments. See Chapter 5 of Heterodox Challenges in Economics (all sections are relevant).

(Italian students can use the Italian edition: Sei lezioni di economia, Dairkos, 2019; Spanish speaking students can use the Spanish edition: Cesaratto, S. (2021) Seis lecciones de economía, El Viejo Topo,

  1. The euro-crisis

We shall discuss the European financial crisis of the last decade as an example of a balance of payment crisis in the context of the relations between core and peripheral countries. See Chapter 6 of Heterodox Challenges in Economics, particulatly sections from 6.7 to 6.12

PPP presentation Slides Europeancrisis

4. Last “bridge” lecture PPP presentation Last lecture bridge with growth models

Sections 3.1, 3.6, 4.1/2/3 of JonesEcGrowth

Part II (prof. Riccardo Pariboni)

Please check prof.Pariboni’e web page for updates on this section of the course.