Solow Model (Part 1 of Many)

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Introduce and set-up the Solow Model. We discuss the model's variables, parameters, and notation - and discuss the model's assumption. We also start working toward the steady state level of capital.

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Lecture Outline

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your video has literally saved my hide from failing spectacularly in economics. thanks!

mellonmel

Dude, thanks. Seriously, just thanks. I'm a Berkeley student, taking a summer macro course and your lecture is gold. Clean, efficient, and thorough. So honestly, thanks you.

luisisnifty

Thank you, that is very nice of you to say.

As a TA with many students, I wish people would start posting more comprehensive collections of lectures one specific topics (it seems like everyone and their mother makes a short 2 minutes review video on some massive topic... not too helpful for students like yourself!)

Best of luck with your summer session course.

economicurtis

You made it sound very easy. Thank you very much. Regards from Egypt!!!

IslamMohamedKamel

Very good video. Well explained and helped massively in clearing up a few issues I had been having in class, Thanks

emoffatt

Regrading the error you pointed out - I think you're right. The 5th line of that calculation has L^(-a) in the denominator when it should be raised to a positive a.

(I did my best, but no doubt there are a few more errors like that, I wish I could create an incentive system to point them all out to me!)

Regarding the videos, I'm glad you like them. It seems there are plenty of "intro to" and "a brief overview of" videos out there. Not enough of the nitty gritty you'd need to know on an exam.

economicurtis

Hi, this video is very helpful! Thank you for sharing. And at 17:44, can you explain why there is a "s" line 6? Thank you again~

wangnina

I'm pretty sure I cover that question throughout the video

Be sure to pay close attention to the capital accumulation equation (the LOM of Capital equation).

economicurtis

Thank you for taking the time to make these videos.
I must say you did a terrific job! You managed to explain the entire model in a very elegant, no-nonsense way (something that the uni professors don't always succeed to do). ;) thanks again. Any hope you'll do the Ramsey model as well? ;)

JanaSi

Thanks for making this video from the subway-station.

zerz

You're awesome! This video really helped. However at 18.20 can you please explain where the s came from in A(k/l(^a s. Please.

TheShak

Your videos on the solow model is great. I really enjoy your the way you explain the material, but is there any way i could get the notes for personal use?

alexandersvensson

"s" is savings -- the savings rate. The savings rate is the port of people's income (Y or y per capital) that people don't consume, and instead people convert into new capital.

It's exogenous (that is, it's taken as given)

the savings rate is pretty central to the solow model, so be sure to look it up. My video description has a link to more videos, many of which work with teh savings rate. good luck!

economicurtis

sorry mate, I deleted my previous comment by accident, but again thanks for these series of videos.

And yes I will start my first course in econometrics in a couple of weeks, I hate Stata and I'll try to do most of it in R.

Cheers

viccctv

Not sure I'll ever get to the overlapping generations model.... sorry. Thank you for the nice comment!

economicurtis

i'm a freshman, and our Macro course explained solow in 2 clases:(( thanks for this video it really helped! hugs from south america

tinazul

Very well explained! Do you have something on Calculus of Variations and Optimal Control?? Please keep adding videos for Masters level topics (David Romer)

vibhananda

7:56 and the following half minute covers all you need to know about economics ever

zerz

Dear Friends, Could you explain the meaning of Depreciation rate of this model?. Thank you.

ntcuongct

Your video's are brilliant :) thank you so much. will you be able to do some video's on Overlapping generations Model ?

joyeejck

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