Limits to growth 2.基本概念和知识点 endogenousgrowth increasing retums to scale absolute convergence conditional convergence stable equilibrium unstable equilibrium golden-rule capital stock 3.问题与应用（能力要求） 1)Students should be able to distinguish between exogenous and endogenous growth. 2)Students should be familiar with the concept of an aggregate production function that displays constant,increasing,or decreasing retums to scale. 3)Students should know that endogenous growth theory can imply that technological progress can be fostered by govemment policies. 4)Students should be aware that technological progress is an important factor in achieving growth in output per capita and that the major components leading to technological progress are advances in knowledge and efficiency that come from increased research,education,and training. 5)Students should be able to distinguish between private and social returns to capital. Students should be aware that,contrary to the prediction of the endogenous growth model,the notion of conditional convergence seems to hold,that is, countries with higher savings rates most often are not able to achieve highe long-term growth rates. 6)Students should be able to evaluate the options available to developing nations for increasing their economic growth rate.This includes the lessons learned from the Asian Tigers as well as strategies to help poor countries escape the poverty trap (三)思考与实践 1.Consider the following neoclassical production function:Y=K a)Write this production function in per capita form b)Find the golden rule level of the (steady-state)capital-labor ratio,when the rat of depreciation is 0.05.and the (exogenous)rate of population growth is 0.20 8 Limits to growth 2. 基本概念和知识点 endogenous growth increasing returns to scale absolute convergence conditional convergence stable equilibrium unstable equilibrium golden-rule capital stock 3. 问题与应用(能力要求） 1）Students should be able to distinguish between exogenous and endogenous growth. 2）Students should be familiar with the concept of an aggregate production function that displays constant, increasing, or decreasing returns to scale. 3）Students should know that endogenous growth theory can imply that technological progress can be fostered by government policies. 4）Students should be aware that technological progress is an important factor in achieving growth in output per capita and that the major components leading to technological progress are advances in knowledge and efficiency that come from increased research, education, and training. 5）Students should be able to distinguish between private and social returns to capital. Students should be aware that, contrary to the prediction of the endogenous growth model, the notion of conditional convergence seems to hold, that is, countries with higher savings rates most often are not able to achieve higher long-term growth rates. 6) Students should be able to evaluate the options available to developing nations for increasing their economic growth rate. This includes the lessons learned from the Asian Tigers as well as strategies to help poor countries escape the poverty trap. （三） 思考与实践 1. Consider the following neoclassical production function: Y = K1/2N1/2 a) Write this production function in per capita form b) Find the golden rule level of the (steady-state) capital-labor ratio, when the rate of depreciation is 0.05, and the (exogenous) rate of population growth is 0.20