Introduction to Economic Growth

ISBN-10: 0393977455
ISBN-13: 9780393977455
Edition: 2nd 2001
Authors: Charles I. Jones
List price: $51.10
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Description: One of the hottest fields in contemporary macroeconomics, economic growth is both fascinating to theorists and critically important to policy makers. In Introduction to Economic Growth?the only text in the field designed specifically for advanced  More...

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Book details

List price: $51.10
Edition: 2nd
Copyright year: 2001
Publisher: W. W. Norton & Company, Incorporated
Publication date: 12/17/2001
Binding: Hardcover
Pages: 256
Size: 7.00" wide x 9.50" long x 0.75" tall
Weight: 1.430
Language: English

One of the hottest fields in contemporary macroeconomics, economic growth is both fascinating to theorists and critically important to policy makers. In Introduction to Economic Growth?the only text in the field designed specifically for advanced undergraduates?Charles I. Jones explains in clear, direct language how economists have come to understand the long-run growth of economies. Beginning with empirical evidence?how rich are the rich countries, how poor are the poor, and how fast do the rich and poor countries grow? ?Professor Jones then presents the major theories of economic growth, from the Nobel Prize-winning work of Robert Solow to the new growth theory that has ignited the field in recent years.

Preface
Introduction: The Facts of Economic Growth
The Data of Growth and Development
Other "Stylized Facts"
The Remainder of This Book
The Solow Model
The Basic Solow Model
Solving the Basic Solow Model
The Solow Diagram
Comparative Statics
Properties of the Steady State
Economic Growth in the Simple Model
Technology and the Solow Model
The Solow Diagram with Technology
Solving for the Steady State
Evaluating the Solow Model
Growth Accounting, the Productivity Slowdown, and the New Economy
Closed-form Solution of the Solow Model
Exercises
Empirical Applications of Neoclassical Growth Models
The Solow Model with Human Capital
Convrgence and Explaining Differences in Growth Rates
The Evolution of the Income Distribution
Exercises
The Economics of Ideas
What is Technology?
The Economics of Ideas
Intellectual Property Rights and the Industrial Revolution
Data on Ideas
Summary
Exercises
The Engine of Growth
The Basic Elements of the Model
Growth in the Romer Model
Growth Effects versus Level Effects
Comparative Statics: A Permanent Increase in the RandD Share
The Economics of the Model
The Final-Goods Sector
The Intermediate-Goods Sector
The Research Sector
Solving the Model
Optimal RandD
Summary
Solving for the RandD Share
Exercises
A Simple Model of Growth and Development
The Basic Model
Steady-State Analysis
Technology Transfer
Understanding Differences in Growth Rates
Exercises
Social Infrastructure and Long-run Economic Performance
A Business Investment Problem
Determinants of F
Determinants of II
Which Investments to Make?
Empirical Evidence
The Choice of Social Infrastructure
Growth Miracles and Disasters
Summary
Exercises
Alternative Theories of Endogenous Growth
A Simple Endogenous Growth Model: The "AK" Model
Intuition and other Growth Models
Externalities and AK Models
Evaluating Endogenous Growth Models
What Is Endogenous Growth?
Exercises
Natural Resources and Economic Growth
Land in the Solow Model
Nonrenewable Resources
Setup
The Balanced Growth Path
Quantifying the Importance of Natural Resources
Prices As Indicators of Scarcity
Implications and Explanations of Declining Factor Shares
Summary
Exercises
Understanding Economic Growth
Why Are We So Rich and They So Poor?
What Is the Engine of Economic Growth?
How Do We Understand Growth Miracles?
Conclusion
Mathematical Review
Derivatives
What Does K Mean?
What Is a Growth Rate?
Growth Rates and Natural Logs
"Take Logs and Derivatives"
Ratios and Growth Rates
[Delta]log versus Percentage Change
Integration
An Important Rule of Integration
Simple Differential Equations
Compound Interest
Maximization of A Function
Exercises
Readings of Interest
Data on Economic Growth
Bibliography
Index

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