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Economy in the Very Long Run: Growth, Output and Productivity

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A Teaching Topic in Fiscal, Monetary and Tax Policy

Economy in the Very Long Run: Growth, Output and Productivity

This topic introduces and explores fundamental macroeconomic concepts surrounding economic growth, economic output and productivity.

Topic Learning Outcome: Students will be able to understand and critically evaluate different arguments about the appropriate approach for governments to take to debt management. Students will be able to explain why it is sometimes beneficial for governments to run deficits and carry debts, and will also understand arguments surrounding potential negative effects of large debt loads.

Core Concepts associated with this Topic:

Recommended Reading 

 

 Sample Assessment Questions:

1.) What is meant by the term "fiscal consolidation?" Explain this concept making use of one example of a government that has successfully pursued a policy of fiscal consolidation.

2.) Economists often measure a jurisdiction's fiscal health by examining its net debt as a share of GDP. Why is this considered a useful indicator of the sustainability of a jurisdiction's debt load?

Page created by Sean Goertzen and Ben Eisen on 17 April 2015.

 


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School of Public Policy and Governance