TAILIEUCHUNG - Lecture Macroeconomics: Lecture 8 - Prof. Dr.Qaisar Abbas

Lecture 8 - Economic growth – II. After studying this lecture you will be able to understand: Key results from Solow model with tech progress, ways to increase the saving rate, productivity slowdown & “new economy”, empirical studies, endogenous growth theory. | Lecture 8 Economic Growth – II Instructor: Prof. Abbas Lecture Contents Technological progress in the Solow model Policies to promote growth Growth empirics: Confronting the theory with facts 1 Introduction In the Solow model, the production technology is held constant income per capita is constant in the steady state. Neither point is true in the real world: 1929-2001: . real GDP per person grew by a factor of , or per year. examples of technological progress abound 2 Examples of technological progress 1970: 50,000 computers in the world 2000: 51% of . households have 1 or more computers The real price of computer power has fallen an average of 30% per year over the past three decades. The average car built in 1996 contained more computer processing power than the first lunar landing craft in 1969. Modems are 22 times faster today than two decades ago. Since 1980, semiconductor usage per unit of GDP has increased by a factor of 3500. 1981: 213 computers .

• Kinh tế học
• Lecture Macroeconomics
• Principles of microeconomics
• Economic models
• Science of macroeconomics
• Tools of microeconomics
• Microeconomic transactions
• Bài giảng Kinh tế vĩ mô
• Kinh tế vĩ mô
• Data of macroeconomics
• Unemployment rate
• Inflation rate
• Natural rate of unemployment
• Consumer price index
• National income
• Agriculture sector
• Agricultural policies
• Economic fluctuations
• Macroeconomic policy
• Business cycle theory