LECTURE: AL MUIZZUDDIN F., SE., ME.

PERTUMBUHAN EKONOMI
Economic growth is a sustained expansion of
production possibilities measured as the increase in
real GDP over a given period.
Calculating Growth Rates

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Sustained growth of real GDP per person can transform
a poor society into a wealthy one. The reason is that
economic growth is like compound interest.
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Potential GDP is the level of real GDP when the
quantity of labor employed is the full-employment
quantity.
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Potential GDP
aggregate
production
function
aggregate
labor market
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At the equilibrium quantity of labor,
the economy is at full employment,
and the quantity of real GDP at full
employment is potential GDP.
Growth of the supply of labor
Growth of labor productivity
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Preconditions for Labor Productivity Growth
Physical Capital Growth
Human Capital Growth
Technological Advances
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Classical growth theory
is the view that the growth of real GDP per person is temporary and
that when it rises above the subsistence level, a population
explosion eventually brings it back to the subsistence level.
Neoclassical growth theory
is the proposition that real GDP per person grows because
technological change induces saving and investment that make
capital per hour of labor grow.
New growth theory
holds that real GDP per person grows because of the choices people
make in the pursuit of profit and that growth will persist indefinitely.
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Mencari jurnal dalam bahasa inggris terkait dengan
faktor yang menentukan pertumbuhan ekonomi.
Buat review jurnal tersebut, meliputi:
I. Latar Belakang,
2. Teori Apa yang digunakan,
3. Hasil Penelitian
Dikumpulkan minggu depan, hard copy (jurnal dan
review)


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