Solow Model with Technology Growth and Population Growth - Part 1 of 5

We will review the Solow model with population growth and technology growth added. We'll derive the new law of motion of capital (the equation that defines how capital is accumulated). We'll get as close as possible to deriving the steady state level of per-worker-capital and per-worker-output and aggregate output (Y), capital (K), consumption (C and c), investment/savings (I and i). We find the steady state levels of capital-per-effective-worker and output per-effective-worker. Ending with a discussion of 'steady state' vs. balanced growth paths.

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Lecture Outline - Solow with Technology and Population Growth

Steady State "Levels"

[goldengate]

10 years has passed and you still continue saving students' exams! Thank you very much! Only playlist of videos with the solow model which comprehend everything and not only K/L

[ming]

this is literally saving my life in finals! thank you so much for producing this and sharing this!!

[mtyjy]

wow I dont think I can find another person explaing solow growth model concept in depth like this in any other youtube videos. I truly appreciate your effort and time you had put in. it must have been such a hard work.

[acemultivitaminsaft]

These Solow Model videos are helping me a lot! Literally what I'm looking for, playing around with parameters and getting to know what every factor does. THANKS!

[dostoyevsky]

This video is too good for a thumbs up. I'm giving it a double thumps up. Thank you sir.

[davidspritzer]

These videos are half the length of my lectures but about 18 thousand times better and easier to understand.

[qwizzyquan]

As a student taking Intermediate macro in the spring 24, THANK YOU

[MrJoozzz]

Thank you - you are doing amazing job with the level of details you present and clear demonstration style you apply. Thumbs up thousand times. 

[AxelGosez]

Hi, I absolutely love your videos. They're very clear and help with getting a better understanding of the subject matter!
I do have a question though. In an exercise I have to make they state "The total remuneration for labour is equal to 80% of total production." and the production function is y = k^(alpha). Does this mean that the alpha is equal to 20% as we saw earlier that it's equal to the share of income dedicated to capital and 1 minus alpha is equal to the share of income dedicated to labor? Thanks!

[maccyd]

This is so incredibly helpful, thank you.

[economicurtis]

Awesome! I'm glad their helping someone!

[shikhajoshi]

Thankyou sir for explaining everything so patiently!

[fatimabezbiq]

Thank you a lot for sharing this
Could you please show me how to find the k, L and technology from the growth accounting, with an exemplar.
Thank you

[harrystephenson]

how does an increase in technology effect economic growth. Graphically the breakeven investment curve shifts up meaning the steady state moves left, resulting in lower capital per worker which would mean lower y*, but surely more tech progress would lead to higher y*

[wrjazziel]

OMG, thank soooo much, this info is great! it really helps

[yvonnemorales]

Hi @economicurtis, what should I review to understand the algebra in this video?

[economicurtis]

Awesome. I'm glad you made it to the last video of the series!

[oliverhill]

Where are parts 2 and 3 in the play list

[shahnawazamin]

Does Technological Growth leads to Level Effects as well as Growth Effects? Please answer

[TheDeathKiller]

Hi, do you have any videos on the Ramsey model?