Overview

Economic growth is of fundamental concern to policy makers. It represents the increase (or decrease) over time of an economies total production (and hence income). Growth theory studies the factors and policies that promote or hinder economic growth.

Models of Growth

• Malthus: was one of the first economists to formulate a growth model, which introduced some key ideas in economics.
• Solow: growth model is a standard model of growth.
• Endogenous Growth:
• Overlapping Generations