MAE203 Global Economy - Individual Assignment Help

MAE203 Global Economy - Individual Assignment

Question 2. (Total = 6 Marks)
[Half a mark each for Questions 2.1, 2.2, 2.3, 2.4. One mark for 2.5 and 1.5 marks for 2.6 and 2.7]

2.5 In 2018 Paul Romer received the Nobel Prize in Economics for providing a better explanation of the sources of productivity improvements. What is a key determinant of economic growth according to Romer’s New Growth Theory and what are some of the key characteristics of this key determinant? (1 mark)