DISCUSS: Can we assume that the reader of our essays already understands the Solon model or do we need to explain it before discussing the main implications of it?
Attainment of Learning Outcomes
The question mentions that the audience is not aware of the technical terms?
If we analyze in a lot of depth for one country is that alright? Or do we need to do several countries?
DISCUSS: Can we assume that the reader of our essays already understands the Solon model or do we need to explain it before discussing the main implications of it?
Shall we split our essay into different subtitles, or is it expected to be one, flowing essay.
In the essay for topic 1 can we use one of the countries included in the question, for example China and then data for that country? or do we have to refer to all three countries to support our argument? Also do we have to refer to both investment changes and technological progress or can we focus on one?
Are we able to simply quote equations instead of deriving them from more intuitive ones?
For the Neo-classical growth model, are we supposed to use the version with or without technological progress?
Essay question says “… because the key determinants of their steady state incomes have risen dramatically“By “key determinants of steady state incomes”, is the question just referring to the two factors in brackets, or does it also include other determinants,such as population growth rates etc.
Essay question 1 is referring to an increase in investment and therefore an increase in growth rate.
If we are using harvard referencing, so need to in-text cite , will this in-text citation count towards the word count?
Can we use footnotes to give additional details? If so, does it get included in the word count? If we use graphs or pictures, do their captions count towards the word count?
Do equations apply to our word count ?
Q: We assume the reader has studied year 1 economics. Does this mean we should derive the
model in our answers, or is it enough to just describe it, starting from the fundamental equation,
then explain its implications?
Is it important that we give the reader an in-depth understanding of the model or is it enough to
just explain what parts are important, even if they may not understand how it works?
Q: The standard NCG (Neoclassical Growth) model assumes a closed economy. One of the
reasons countries mentioned grew was because they attracted FDI. FDI contributed to
growth via higher investment levels and facilitating the spread of advanced technology.
However- because the model assumes a closed economy – would it therefore be incorrect to say that the FDI caused increases in the key determinants of the steady state incomes?
Q: With regards to the NCG model, are the terms ‘technology levels’ and ‘Total Factor
Productivity’ used interchangeably (i.e. do they mean the same thing)? Or are technology levels
just one part of total factor productivity which also includes stuff like good institutions, strong rule
of law and property rights?
If so does this mean that that g in the steady state income equation also includes these ‘stuff’
and not just the level of technology?
Q: should we be writing the essay in per effective worker terms or just per worker, or does it not
matter?
Q: Would it be correct to assume investment is equal to ‘sy tilde’?
Q: Does an increase in total domestic R&D spending imply an increase in technology?
Q: Do the examples of each country need to be explained in combination with models, or do
they need to be explained in words?
Q: Does a lower capital per effective worker -> lower output per effective worker (y=ka) -> lower
living standards?
Q: we know technological progress increases per capita growth
Is it enough to explain this through just the production function of output per worker as an
increase in A or do I have to use the output and capital per effective worker or their growth
rates? But if A increases then capital per effective worker will decrease so how is it that it
encourages per capita growth ?
Q: Do the annotations of what the symbols represent in the equation count towards the word
count?