ch6 - We will study changes in the economic environment...

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Chap 6 Outline Empirical facts of economic growth Malthusian .Growth. model The Solow .exogenous. growth model Growth Accounting: Identifying the sources of economic growth
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Main Question What affects the level (standard of living) and rate of growth (rate of change in the standard of living) of per capita consumption or output? We study both aggregate variables (e.g. Y) and per capita variables: Y/N We associate the term .standard of living. with per capita variables
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Unformatted text preview: We will study changes in the economic environment that lead to level effects, growth effects, or both. Economic Growth Facts Before the Industrial Revolution in 1800, standards of living differed little over time and across countries. Natural Log of Real per Capita Income in the United States, 1869 2002 Output per Worker vs. Investment Rate Output per Worker vs. the Population Growth Rate No Convergence Among All Countries...
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This note was uploaded on 02/17/2011 for the course ACCT 2050 taught by Professor None during the Spring '11 term at Algoma University.

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ch6 - We will study changes in the economic environment...

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