final_review - ECO330T: Environmental Resources and...

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ECO330T: Environmental Resources and Economic Growth University of Texas at Austin, Fall 2008 Marble Review for the final (use with Midterm review) II. Economic Growth A. The modern theory of economic growth ‘Growth packet’: Blanchard, O., Macroeconomics, 3rd Edition , p. 204 + Jones, C.I., Introduction to Economic Growth, 2nd Edition 2002, p.45-47 Introduces economic growth and growth accounting measures. The first is measured as increases in GDP per capita over time; the second as contributions to growth in GDP/Capita from different factors of production. Griliches, Zvi, “The Discovery of the Residual”, Journal of Economic Literature, V34, Sept 1996, p. 1324-1330 Provides historical perspective on the idea that increases in GDP/capita over time do not appear to have been mainly driven by measurable increases in the stock of physical capital. Jones, Charles I., “The Basic Solow Model”, Introduction to Economic Growth , 2nd Edition, 2002, pages 22-31 Develops the standard neo-classical model of long-run economic growth based on increases in capital and in population. Demonstrates that this model is unable to explain the long-run growth that has actually been observed in GDP per capita in the larger, developed economies. Establishes the requirements for constant consumption per capita in the long run.
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This note was uploaded on 06/09/2011 for the course ECON 330 taught by Professor Marble during the Spring '11 term at University of Texas at Austin.

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final_review - ECO330T: Environmental Resources and...

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