Part 11, Ch. 10: Growth Facts 1. Growth facts, comparative changes in world economic development and growth. Convergence vs. divergence 2. Determinants of growth and income per capita differences across countries 3. Returns to scale and returns to factors of production, explanation and proofs. 4. Measurement(s) of economic development. 5. Objectives of economic development. 6. Problems with GDP/capita as a measure of welfare. What is HDI? What are the pros/cons of using GDP vs. HDI? 7. Common characteristics of developing vs. developed countries. (briefly answer it)

Olivier Blanchard, Macroeconomics, Prentice Hall, 8th, 2020

Stylized Facts on Growth, Ch. 10 & Handout *Hamilton, A. (1791). Report on manufactures. Annals of Congress. Saving, Capital Accumulation and Growth, Ch. 11