Intro to the Solow Model of Economic Growth

[@ABC2691]

Can we please take a moment to appreciate and thank not just the smart Professor in this video but also the video/sound editors/creators, animators etc who make this concept/theory so easy to understand. The visuals are f*****g amazing. Took me just 5 min to get Solow Model while my University charges me £12K a year to teach this yet fails to.

[@MarginalRevolutionUniversity]

Thank you! I've shared your nice comment with all the folks who worked on that video. -Roman

[@broteinshaketh7629]

fortnite

[@martineden7075]

@@MarginalRevolutionUniversity I am still watching and amazed by the quality of the content and animation! Incredible work

[@jonghvrs]

i pay my university for them to send me this video..

[@ruthanthony7542]

It was like a funny movie watching two times thank you so much more appreciated professor

[@sullyflynn8746]

When I am looking for a quick video to explain uni concepts, I go straight to videos like this. Never to videos with numbers and a whiteboard. Thankyou!!!!!

[@MarginalRevolutionUniversity]

Thanks, Sully! :D -Meg

[@jamesm9534]

I wanted formulas with numbers!

[@eco-muslim]

bro is looking for a shortcut i have a joke but its long to type

[@YannHutmacher]

Amazing Video, props to the Profs but also to the editors as this video is still amazing 8 years later.

[@randomrold]

came back here to upvote all the videos since it saved me on my econ final lmao thank u !!

[@MarginalRevolutionUniversity]

Yes! Enjoy your break! -Roman

[@skj0811]

These videos are incredibly enlightening and easy to follow. Great job.

[@happyhans6427]

I have an exam tomorrow and this helped cover the basics of the Solow Growth model well. Thanks :)

[@MarginalRevolutionUniversity]

Glad to hear it, Hans. Good luck on your exam! -Meg

[@PunmasterSTP]

Hey I know it's been a long long time, but I just came across your comment and I was curious. How did that exam go? 😀

[@tosinz]

These videos are the best guide lines…well explained and enlightening

[@mvfplanet]

THANKS - I am a student of Dr. Feilcke (Prof. Weizsäcker) who is a genius in pedagogics and your videos motivate me even more to understand the topics from different points of view.

[@mobime6682]

Wow, just awesome , can't wait to catch the rest of the series! Subscribed!!

[@rammusfi2344]

Just discovered this and am sooo happy ! Thank you so much !

[@alexsteven8589]

Video is super concise and easy to follow, well thought through. Well done!

[@johnsamy5017]

I am really thankful for your sincere efforts Gentlemen.

[@tommy-lee-johnes]

This whole series about macroeconomics is superb congratulations for the ]GREAT work

[@nadinemcgrath4448]

Great introduction and explanation of something I was having trouble with in a uni course. Thanks

[@HenryKao-h6t]

Thank you for explaining the model. This video helps so much.

[@vinitapundir447]

This video make the model easy to understand for me ...thanks ......now i will able to explain it in my class presentation..👍👌

[@MarginalRevolutionUniversity]

Thanks, Vinita! Best of luck with your presentation. -Meg

[@PunmasterSTP]

I know it's been a long long time, but I was just curious. How did the rest of your class go?

[@Friedrich291]

Great animations! and of course, content. Clear speaker.

[@fazsav]

I wish you were my Econ instructor , Thank you so much!

[@PunmasterSTP]

With videos of this high quality, I anticipate that eventually our ignorance will be...so low! But in all seriousness, thank you so much for making these!

[@angelasings24]

thank you so much for these videos!! i have to write a paper on the solow model and now im not completely in the dark LOL

[@LeoniDAS643]

Thank you so much for this video!

[@ΝικοςΑλεξοπουλος-ι9ο]

from the best explained videos ever seen!!

[@94Cadaver]

This is very useful!!! thank you so much I'm taking a macroeconomic course for my master's degree requirements and I have 0 background on economics. These videos are so helpful

[@skye486]

I'm from Viet Nam but your representations are easy for me to understand.I'm very grateful for your devotion.Hope you finish all of videos of macroeconomic soon.Thank you !

[@MarginalRevolutionUniversity]

Thanks, Vân! That's great to hear. Principles of Macroeconomics will be done in the spring of 2017. -Meg

[@humster_cupcake]

Really helpful video, also awesome practise tests, thanks.

[@цветок-ш7п]

I'm happy I watched this even though I'm not doing economics at school lol

[@ananyajain]

thank you so so much for this. truly lifesaving

[@RajeevSingh-dw7xj]

I enjoy watching your videos. I did economics in grad.

[@mielke13]

Most wars don't end with winners' generous and benevolent plans to rebuild the losers.

[@hamayun1363]

you guys are just amazing. wow!

[@GFMkidsComedy]

Outstanding video!

[@AliAliabe]

Helpful video . Thank You

[@madridmusic3948]

Excelente canal para entender la economía, saludos desde México!

[@Reinatsu22]

I like your explanation. Very nice for beginners like me! :)

[@reccur]

Thank you very much for the explanation. I am still wondering why this channel has < 200K viewers

[@alparslankorkmaz2964]

Nicely explained

[@laulaulau-z7f]

1) Thanks a lo for your help. However, I have a question. Does Solow represents better the situation of china? or Lewis?

[@ntcuong01ct1]

Dear Friends, Could you explain the meaning of Depreciation rate of this model?. Thank you.

[@jongzhenwei5244]

This is amazing!! Thanks

[@DianaRodriguez-yq9yh]

Thank you! you helped me to understand it better

[@Valentin-oc5nh]

wouldn't the ideas part usually be reffered to as technology?

[@yydd4954]

It refers to many intangible factors But yeah in most cases it is called "technological advancements"

[@abhijeetvasishtha4627]

Please! make a series on 'Independent India Economic History'. Highly Demanded!!

[@karannchew2534]

Why is it A not I for ideas?

[@tharuabeysekara9749]

Superb explanation. Thank you sir

[@muhammadanas8043]

Very excellent tutorial. Kudos. But I have a question. Why does Solow model use per capita (1/L) variable?

[@atulyasinha3765]

thank you so much

[@Bulsebub]

1:45 Did he just say that the other countries got more humans than china?

[@rakeshs3761]

Thank you for this, really helpful- Could be that background noice is less

[@jamesreeves2948]

I understand this is an introduction to the model but I have some questions. First how do you quantify "A"? Second I feel that in the United States we have a problem with over educated individuals working lower skill jobs, would there be a bell curve effect if an economy was too educated? Finally why did he say China had lower human capital than the United States? Is human capital different than population?

[@usdohs]

Aggregate utility is the sum of all individual utility functions. If I have a phd and work as a cashier, it's because I choose to. If I have decided that in light all of my preferences, cashier is the best job for me, that by definition maximizes my utility. Do that for everyone, and you maximize everyone's utility. It is not theoretically impossible that I could do something that would benefit a lot of other people more than the disutility (unhappiness, stress, etc) I might get from a different job and therefore arguably be more socially efficient, but 1) that's an unverifiable counterfactual, and 2) coerced labor is bad Human capital is productive. Uneducated, malnourished, repressed people are less productive. So China has less human capital (maybe not in total since they have so many more people, but on average) than the USA, since they don't develop it as much.

[@masihullahjan1244]

You guys are amazing. please upload Ramsey cass kopman model, Diamond models, DSG models

[@amaliaameel]

Thank you!!!!

[@sonder2075]

Thanks!!

[@bcubed72]

Pretty simple: a rich man has more trouble doubling his net worth than a pauper. Same for nations: if you have (virtually) nothing, it doesn't take much to double it. Plus, in the case of (West) Germany and Japan, the "west" invested in their growth for ulterior motives (i.e. the Cold War). This was an "externality" that artificially boosted their growth rate.

[@amayoka]

Just started on this topic a day ago. Could this also be about decreasing marginal output? These giant economies are already operating at near or past GDP potential. There is no way up but just a little bit up or down

[@ivanferraz8914]

According to solow model what drives growth is technology (that includes educated workers)

[@rahmantansia1715]

I have a question, is the Solow model associated to the Neo-classical growth model? I mean, is it the same theory? I’m so sorry but I am so confused right now because in some articles it does refer to the Neo-classical growth theory and in some it doesn’t.

[@yydd4954]

I don't see a reason why it shouldn't be

[@jed8211]

How is ideas (letter A variable) measured?

[@54Aakash]

good way of explaining

[@nematbekaxmedov6272]

Keep going on

[@jort801]

A war has no winners only losers.

[@nadiahazmi7679]

i like your vid. simple with exercise add on!

[@samaddeoo]

LIFESAVER

[@张鑫蓬]

better than my university lecturer

[@evabroekhuizen8264]

very good video

[@bibimaryamjakipbaeva9857]

How come was the US winner in the World War 2?

[@christineb1742]

This is great!

[@kamilaros3363]

please adding Indonesian subtitle

[@clup3136]

Very interesting

[@nishanfaith1013]

letter eL = N ?

[@abbieboswell2318]

No one going to say anything about the claim that china has less human capital the france or Germany? Good vid tho

[@darwin6960]

First, human capital is not equal to population. What he means is that human capital on those said countries is more educated and skilled times their population aka more productive citizen than China at that time. It's reasonable unless you believe otherwise.

[@007MrEmir]

Thanks.

[@longnewton1]

There are two missing pieces in this model, resources such as iron which are extracted ffrom the planet and waste or externalities such as pollution which are dumped at no cost in this model. To be fair this is a floor in all conventional economics not just these videos.

[@amandaz537]

It would have been nice if the title said the Robert Solow model because I just watched half of it and realized that it wasn't the Harrod-Domar Solow model. You seem very helpful but in this case you didn't help with the right thing....

[@MarginalRevolutionUniversity]

Hi Amanda! Apologies for the confusion. The Harrod-Domar model came first in the 1930s and the Solow model (or Solow-Swan model) superseded it after its development in the 1950s. I honestly can't say I've ever heard them referenced together as the Harrod-Domar Solow model. Even though we don't reference the Harrod-Domar model, there's only one Solow model, so this series should still be able to help you with your studies. Cheers, Meg

[@marif9213]

For fucks sake this is amazing love it

[@renkenner]

At first I thought this (A elk) was a reference to the woman in the Monty Python sketch who had a theory about dinosaurs.

[@Samtaztic99]

One of my homework questions is 'Give the function of output per effective worker.' Is this just 'f(K/AN)' ?

[@PrinceKumar-hh6yn]

Investment in education is the most powerful investment

[@mayulmanav3720]

the Prof.'s "China" is just a sophisticated version of that of trump

[@bradfordtownsend9698]

It is simple arithmetic. A poor country can grow very fast and can have much less actual growth. --10% of a million = 100,000 or 2% of a billion = 2,000,000 -- Is rebuilding a government building bombed in a war growth or just rebuilding a bombed building?

[@bcubed72]

+Bradford Townsend (forwardresearch) Yes, that's a known GDP liability: it makes disasters look good, because of the ensuing necessary rebuilding.

[@bradfordtownsend9698]

Statistics can be used by sophists to manipulate the public with only basic math knowledge.

[@GrimFaceHunter]

It's yet one more version of broken window fallacy.

[@bcubed72]

+GrimFaceHunter Explain why it's a fallacy? Just because you don't agree with something, doesn't make it a "fallacy."

[@GrimFaceHunter]

You already explained it in your first comment. It is an erroneous belief that destruction is good for economy.

[@burakeres]

Ich erkläre das Solow-Modell: kzbin.info/www/bejne/jWHZdHmeqs1pqsk Lasst mir ein Kommentar da :)

[@jaylenli6262]

A is productivity in short

[@MengerMania]

I, too, admire the production quality of this video, but the thinking represented here, not so much. One would expect a small economy to grow at a faster RATE than a large economy. It's simple math. Increasing from 1 to 2 in period amounts to a greater rate of growth than and increase from 6 to 7 in the same period.

[@meenakshi1657]

❤

[@robertbeurre1825]

is this just a justification to explain why western economies are falling behind

[@2rooms19]

wrong flag for Germany during WWII.

[@jay4612]

His accent tho

[@ronfine3284]

xoxo see below cv

[@davidblumenshine2410]

could really cut it with the propaganda lol

[@thomson4420]

the idea could from education. this model is useless