Overview
Recall that Chapter #07, Economic Growth, consists of 4 sections and 13 learning outcomes. Below are the sections and their associated learning outcomes.
- The Relatively Recent Arrival of Economic Growth
- Explain the conditions that have allowed for modern economic growth in the last two centuries
- Analyze the influence of public policies on an economy's long-run economic growth
- Labor Productivity and Economic Growth
- Identify the role of labor productivity in promoting economic growth
- Analyze the sources of economic growth using the aggregate production function
- Measure an economy’s rate of productivity growth
- Evaluate the power of sustained growth
- Components of Economic Growth
- Discuss the components of economic growth, including physical capital, human capital, and technology
- Explain capital deepening and its significance
- Analyze the methods employed in economic growth accounting studies
- Identify factors that contribute to a healthy climate for economic growth
- Economic Convergence
- Explain economic convergence
- Analyze various arguments for and against economic convergence
- Evaluate the speed of economic convergence between high-income countries and the rest of the world