Economic Growth and Technology Change

Question 1:

1. The Solow-Swan model presents a few limitations, primarily because of its implication on convergence to a steady state. Explain what the issue is at the light of recent experiences of growth.
2. Use a diagram to explain how shifts in TFP can allow for continuous growth.

Question 2:

1. Present a Solow model where technology change impacts upon labour productivity (Labour Augmenting TC). What is the steady state condition?
2. Explain the notion of steady state and compare it to the steady state you would find in a model without labour augmentation;
3. Comments on the policy implications of this model.

Question 3:

Review the notion of Total Factor Productivity and what role TFP plays in the growth debate.

Question 4:

The growth rate of labour is 6 (percent) and the rate of growth of capital is 6 (percent). Suppose that the share of GDP that goes to capital is 0.4 and the share of GDP that goes to labour is 0.6. If constant returns to scale apply and markets are competitive, then what is the rate of growth of total factor productivity?

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more