Section 8: Economic Growth
In this section, we cover several models of growth. We start with a simple model of exponential growth and then move on to models from economics, with a focus on Solow's basic growth model. I simplify the model by leaving out the labor component. These models help us distinguish between two types of growth: growth that occurs from capital accumulation and growth that occurs from innovation.
Growth Models
Vocabulary learning：
concave 凹面
shrink back down to 缩小
natural limit
equilibrium level 平衡水平
over 除以
irony 讽刺，反语
balance out 平衡，抵消
capital intensive 资本密集型
innovational multiplier 革新的乘数
multiplicative 乘法的
endogenous growth theory 内生增长理论
indigenous growth model 自主生长模式
President Reagan
President Obama
promulgate 传播，公布 0179790
2013-11-04 (80min) Coursera open course: Model Thinking by Scott E. Page Start from 10.07.2013, will end on 12.16.2013 Link: https://class.coursera.org/modelthinking-005/lecture/index;
Section 8: Economic Growth In this section, we cover several models of growth. We start with a simple model of exponential growth and then move on to models from economics, with a focus on Solow's basic growth model. I simplify the model by leaving out the labor component. These models help us distinguish between two types of growth: growth that occurs from capital accumulation and growth that occurs from innovation.
Growth Models
Vocabulary learning： concave 凹面 shrink back down to 缩小 natural limit equilibrium level 平衡水平 over 除以 irony 讽刺，反语 balance out 平衡，抵消 capital intensive 资本密集型 innovational multiplier 革新的乘数 multiplicative 乘法的 endogenous growth theory 内生增长理论 indigenous growth model 自主生长模式 President Reagan President Obama promulgate 传播，公布 0179790