GrowthTheories.pptVIP

Growth Theories “Frame of Reference” General Neo-Classcial Model Harrod-Domar Model Solow Model Endogenous Growth Model Human Capital Others Lewis Model Rostow Model Neo-Classical Economics Microeconomics that you have learned Aggregate Demand does not matter for long-run growth of income Macroeconomic Policies of Government (controlling Money Supply, Government Expenditures )do not matter for Y in the long-run – “You cannot pull yourself up by your own bootstrap” 1. Neo-classical Mode = Supply Side Economics Economic growth = Growth of Income = Growth of aggregat