Economics CPD Courses Coming up this Term!- Book Your Places Now!
The economist Robert Solow (pictured) developed the neo-classical theory of economic growth. Solow won the Nobel Prize in Economics in 1987.
“Since 2000, nearly 30 developing countries have grown by 6 percent or more a year. Developing countries are now the engine driving the global economy, accounting for around two-thirds of global growth
There are many differences across countries but there are some common elements to countries that have grown continuously. They have stable governments that pursue prudent economic policies, provide essential infrastructure and services, and take a long-term perspective. They use the opportunities provided by global markets and they have a dynamic and competitive private sector”
Source: Jim Kim, President of World Bank, July 2012
Capital investment as a % of GDP
A ‘steady-state growth path’ is reached when output, capital and labour are all growing at the same rate, so output per worker and capital per worker are constant.
FOR MORE REVISION SUPPORT FROM THE TUTOR2U TEAM...
Use the following class codes to join our Zondle revision classes:
Economics: AS Micro 290-66327 AS Macro 290-66328 A2 Micro 290-66329 A2 Macro 290-66330
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Economics CPD Courses in June 2014 - Book Your Places Now!
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