Assignment

Answer all three questions below in a word processed document
1. What are the differences between the neoclassical and structural evolutionary
theories of economic growth? Articulate each theory clearly and point out the
differences. What are the implications of looking at the long-run economic growth
process using each of the theories? What roles do diminishing, constant and
increasing returns play in these theories? What are the policy implications of
looking at growth in these two ways? (Use diagrams, graphs and equations where
appropriate.)
2. Why did the Industrial Revolution occur when and where it did and not
elsewhere? What is your conclusion about the appropriate policy advice to give to
economies trying to develop today?
3. Define technological complementarity. What is the difference among the concepts
of technological complementarity, spillovers, externalities, combinatorics and
concatenation? Explain why technological complementarities and uncertainty
exist and what the implications of these are for the process of technological
change and economic growth. How are the above concepts related to each other in
the production of knowledge? What are the implications for thinking about
economic growth processes with these factors in play?