Philip Leatherwood, Lecturer

Kazakhstan Institute of Management, Economics, and Strategic Planning

20 February, 2001

1. Growth—Its measure and its importance
2. Derive formulations of macroeconomic growth
3. What is Steady State Growth?
4. Discussion of Lucas’ comments on p. 63 (Dornbusch and Fischer, 7^th ed.)

Use the last 20 minutes of class to write answers to each of the following:

1. What are the methods one might use to effect growth?
1. Try to make a comprehensive list, then describe each as a long-term or short-term policy.
2. What strategies would be best applied to Kazakhstan—

• Over the next year?
• Over the next five years?
• Over the next 30 years?

0. In what ways will the above methods differ from strategies to improve welfare?