EKONOMI MAKROLECTURE: AL MUIZZUDDIN F., SE., ME.PERTUMBUHAN EKONOMI1Economic growth is a sustained expansion of production possibilities measured as the increase in real GDP over a given period.Calculating Growth Rates
2The Basics of Economic Growth
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.3The Magic of Sustained Growth
Potential GDP is the level of real GDP when the quantity of labor employed is the full-employment quantity.4How Potential GDP Grows5
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 laborGrowth of labor productivity6What Makes Potential GDP Grow?7Growth of the Supply of Labor
8Growth of labor productivity
Preconditions for Labor Productivity GrowthPhysical Capital GrowthHuman Capital GrowthTechnological Advances9Why Labor Productivity Grows?10
Classical growth theoryis 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 theoryis 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 theoryholds that real GDP per person grows because of the choices people make in the pursuit of profit and that growth will persist indefinitely.11Growth Theories, Evidence, andPoliciesMencari 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 PenelitianDikumpulkan minggu depan, hard copy (jurnal dan review)
12Tugas Individu
