A. Investment in human capital B. Investment in physical capital C. Research and development, and technological progress D. Growth policyVI. Economic Growth and Productivity (5–10%)
Video Lessons
- Part 1 - Growth (7:57)
- Part 2 - Economies of Scale (4:13)
PowerPoints
Growth & Productivity (from David Mayer)
From the College Board
The course should introduce the framework and examine how long-run economic growth occurs. Students should understand the role of productivity in raising real output and the standard of living, and the role of investment in human capital formation and physical capital accumulation, research and development, and technical progress in raising productivity. Having learned the determinants of growth, students should examine how public policies influence the long-run economic growth of an economy.