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Growth Theory and Long-Run Behavior of Economy

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Growth Theory and Long-Run Behavior of Economy
MacroEconomics | Essay | Growth Theory and Long-Run Behavior of Economy | | Antara Islam | 6/11/2013 |

Institute of Business AdministrationJahangirnagar University |

Essay On
Growth Theory and Long-Run Behavior of Economy

Submitted To:
Dr. ShuddhasattwaRafiq
Course Instructor
Macroeconomics

Submitted By:
Antara Islam
Class ID: 2795
Batch 21

Date of Submission
11 June, 2013

Institute of Business Administration
Jahangirnagar University
Letter of Transmittal

June 11, 2013
Dr. ShuddhasattwaRafiq
Director
Institute of Business Administration
Jahangirnagar University

Subject: Submission of the essay on Growth Theory and the Long-Run Behavior of Economy.

Sir,
It is a pleasure of mine to submit the essay on Growth Theory and the Long-Run Behavior of Economy.
Theessay highlights how growth theory explains the long-run behavior of economy. This essay is developed to strengthen the fact that growth theory explains the long-run behavior of economy with provided data and models. The essay also discusses Neo-classical growth models and also explains what the term Long-Run refers to.
I want to thank you for giving me this wonderful opportunity to work on this essay. It has been an exciting experience and an amazing way to broaden my knowledge. If there is any query regarding the essay, I will be honored to answer them.

Sincerely Yours
Antara Islam (2795)

Acknowledgement

At first, I would like to thank the Almighty Allah for being able to submit my essay on time.
I have my healthiest gratitude towards the Director of our Institute and our course instructor of Macro Economics, Dr. ShuddhasattwaRafiq, Associate Professor, Institute of Business Administration, Jahangirnagar University for his guidance, support and the knowledge he shared with us.
I would also like to express my deepest gratitude to all those helped me to prepare this essay and shared their experience with me to make this more effective. It would



References: 2. Lucas, R. E. 1988. "On the mechanics of economic development," Journal of monetary economics, 22(1), 3-42. 3. Ayres, Robert (1989). Technological Transformations and Long Waves. p. 9 4 7. David. S. (1969). The Unbound Prometheus: Technological Change and Industrial Development in Western Europe from 1750 to the Present. Cambridge, New York: Press Syndicate of the University of Cambridge. ISBN 0-521-09418-6 8 9. Ayres, Robert U.; Warr, Benjamin (2004). Accounting for Growth: The Role of Physical Work 10.Grubler, Arnulf (1990) 11. Taylor, George Rogers. The Transportation Revolution, 1815-1860. ISBN 978-0873321013. 12. Wells, David A. (1890). Recent Economic Changes and Their Effect on Production and Distribution of Wealth and Well-Being of Society. New York: D. Appleton and Co.ISBN 0543724743. 13. Atack, Jeremy; Passell, Peter (1994). A New Economic View of American History. New York: W.W. Norton and Co. ISBN 0-393-96315-2 14.Beaudreau, Bernard C 17. Trevor W. Swan (1956). "Economic Growth and Capital Accumulation ', Economic Record, 32, pp. 334–61. 18. Kendrick, John W. (1961). Productivity Trends in the United States.Princeton University Press for NBER.p. 111. 19. Ayres, Robert U. (1998). Turning Point: an End to the Growth Paradigm. London: Earthscan Publications. pp. 193–4. 20.ElhanahHelpman, The Mystery of Economic Growth, Harvard University Press, 2004. 21. Harry D. Saunders, "The Khazzoom-Brookes postulate and neoclassical growth", The Energy Journal, October 1, 1992.

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