Introduction to Economic Growth

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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 So low to the new growth theory that has ignited the field in recent years

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s Charles I. Jones is associate professor of economics at the at Berkeley and a leading scholar in the field of economic growth. He received his A.B. from and hisPh.D. from the Massachusetts Institute of Technology Table Of Contents Introduction Chapter 1: The Facts of Economic Growth The data of growth and development Other "Stylized facts" The remainder of the book Chapter 2: The So low Model The Basic So low Model Solving the Basic So low Model The So low Diagram Comparative Statics Properties of the Steady State Economic growth in the simple model Technology and the So low Model The So low Diagram with technology Solving for the steady state Evaluating the So low Model Growth Accounting, the productivity slowdown and the new economy Appendix: Closed-form solution of the So low Model Exercises Chapter 3: Empirical Applications of Neoclassical Growth Models The So low Model with human capital Convergence and explaining differences in growth rates The evolution of the income distribution Exercises Chapter 4: The Economics of Ideas What is technology The economics of ideas Intellectual property rights and the industrial revolution Data on ideas Summary Chapter 5: The Engine of Growth The basic elements of the model Growthin the RomerModel Growth effects versus level effects Comparative statistics: A permanent increase in the R & D share The economics of the model The final-goods sector The intermediate-goods sector The research sector Solving the model Optimal R & D Summary Appendix: Solving for the R & D Share Exercises Chapter 6: A Simple Model of Growth and Development The basic model Steady-state analyses Technology transfer Understanding differences in growth rates Exercises Chapter 7: 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 Chapter 8: 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 endogeneous growth? Exercises Chapter 9: Natural resources and economic growth Land in the So low 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 Appendix A: Mathematical review Appendix B: of interest Appendix C: Data on economic growth