Chapter 25: Production and Growth

In this video, I discuss the determinants of economic growth in an economy.

Rule of 72 4:15
Growth rate of real GDP per capita 7:25
Calculating a percent change 9:16
Productivity 10:18
Physical capital per worker 15:28
Human capital per worker 17:42
Natural resources 18:40
Technical knowledge 20:19
The production function 21:18
Law of diminishing marginal product 25:10
Constant returns to scale 26:17
Limits to growth 28:32
Economic growth and public policy 33:10
Saving and investment 33:35
Diminishing returns and the catch-up effect 36:05
Investment from abroad 40:05
Education 43:53
Health and nutrition 46:12
Property rights and political stability 47:00
Free trade 48:51
Research and development 50:19
Population growth 52:04
Growth accounting 54:07

Dr. Azevedo
Department of Economics and Finance
University of Central Missouri