Ed10
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- The document discusses economic growth models including the Solow and Romer models. - The Solow model views output as a function of capital and is subject to diminishing returns, while the Romer model incorporates ideas and innovations which can experience increasing returns. - In the Solow model, steady state is reached when savings/investment equals depreciation, but growth can occur by raising the savings rate or productivity. The Romer model sees ideas as multiplying rather than just adding to growth.
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3) The model shows how an economy will reach a steady state equilibrium where savings (S) and investment (I) equal depreciation (D) unless productivity (A) increases.
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Amortization
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Time lines
Show the timing of cash flows.
Tick marks occur at the end of periods, so Time 0 is today; Time 1 is the end of the first period (year, month, etc.) or the beginning of the second period.
CF0
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CF3
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Future Value of Money
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Simple Interest
The original principal stays the same.
There is no interest on interest. The interest is only on the original principal.
Compound Interest
The principal changes through time.
There is “interest on interest”. The interest is on the new principal.
9-‹#›
9-‹#›
9-‹#›
Simple Interest
Interest($) = Principal($) ∙ Interest Rate(%) = V0 ∙ I
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V2 = V1 + Interest = V1 + V0 ∙ I = V0(1 + I) + V0 ∙ I
= V0(1 + I + I) = V0(1 + 2I)
V3 = V2 + Interest = V2 + V0 ∙ I = V0(1 + 2I) + V0 ∙ I
= V0(1 + 2I + I) = V0(1 + 3I)
.
.
Vn = V0(1 + nI)
FVn = PV(1 + nI)
9-‹#›
Compound Interest
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V1 = V0 + Interest = V0 + V0 ∙ I = V0(1 + I)
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9-‹#›
Example
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= 20(1+2I) = 20(1+0.2) = $24
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= 20(1+I)2 = 20(1+0.1)2 = $24.2
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Compound : FV = 20(1.1)100 = 275,612.25
9-‹#›
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9-‹#›
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Solve the general FV equation:
FVN = PV∙(1 + I)N = PV ∙ FVIF
FV15 = PV∙(1 + I)15 = $1,000∙(1.10)15 = $4,177.25
= $1,000∙4.177 = $4,177
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9-‹#›
Present Value of Money
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9-‹#›
PV = ?
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10%
9-‹#›
13
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Show the timing of cash flows.
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9-‹#›
9-‹#›
9-‹#›
Simple Interest
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.
.
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FVn = PV(1 + nI)
9-‹#›
Compound Interest
Interest ($) = Principal ($) ∙ Interest Rate (%) = V ∙ I
V1 = V0 + Interest = V0 + V0 ∙ I = V0(1 + I)
V2 = V1 + Interest = V1 + V1 ∙ I = V1(1 + I)
V3 = V2 + Interest = V2 + V2 ∙ I = V2(1 + I)
V2 = V1(1 + I) = V0(1 + I)(1 + I) = V0(1 + I)2
V3 = V2(1 + I) = V0(1 + I)2(1 + I) = V0(1 + I)3
Vn = V0 (1 + I)n
FVn = PV(1 + I)n = PV∙FVIF
V2 = V1 + Interest = V1 + (V0 + Interest) ∙ I
9-‹#›
Example
What is the future value of $20 invested for 2 years at 10%?
Simple: FV = PV(1+nI)
= 20(1+2I) = 20(1+0.2) = $24
Compound: FV = PV(1+I)n
= 20(1+I)2 = 20(1+0.1)2 = $24.2
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Simple: FV = 20(1+ ) =
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9-‹#›
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FV15 = PV∙(1 + I)15 = $1,000∙(1.10)15 = $4,177.25
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Capital investment appraisal
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Economic History of the United States - Lecture 9
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一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
永久可查学历认证【微信：A575476】【美国新罕布什尔大学(unh)毕业证成绩单Offer】【微信：A575476】（留信学历认证永久存档查询）采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
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→ 【关于价格问题（保证一手价格）
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
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留信网认证的作用:
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2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...
falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...Falcon Invoice Discounting
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.Seminar: Gender Board Diversity through Ownership Networks
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...Labour Market Information Council | Conseil de l’information sur le marché du travail
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.Does teamwork really matter? Looking beyond the job posting to understand lab...
Does teamwork really matter? Looking beyond the job posting to understand lab...Labour Market Information Council | Conseil de l’information sur le marché du travail
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.The Impact of GST Payments on Loan Approvals
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
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Independent Study - College of Wooster Research (2023-2024)
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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Ed10
- 3. Growth Models Factors Stuff Productivity How you use your stuff
- 5. 2.2% 10% 32 years 7 years
- 8. Cutting Edge new ideas new inventions new innovations
- 11. Simple Model Income Y Capital K Income = 10% of Capital Y = 0.1K $100 $200 $300 $10 $20 $30
- 12. Simple Model Income Y Capital K Income = √Capital Y = √K $100 $200 $300 $10 $20 $30
- 13. Simple Model Income Y Capital K$100 $200 $300 $10 $20 $30 Depreciation D = dK D = 0.05K Income = √Capital Y = √K
- 14. Simple Model Income Y Capital K$100 $200 $300 $10 $20 $30 Y = √K D = 0.05K K =$200 Y = D = C = $14.14 $10.00 $4.14
- 16. Solow Model Output is a function of ideas, capital, education and labor.
- 17. Y = Output A = Ideas K = Capital e = education L = Labor Y = F(A, K, eL) Solow Model
- 18. Y = F(A, K, eL) Simplify to analyze Assume A , e and L don’t change don’t change = hold constant Y = F(K) Solow Model
- 19. Y = F(K) Output is a function of Capital Assume that the function increases at a decreasing rate Diminishing Returns Solow Model
- 22. Y = F(K) function is not linear diminishing Y = √K Solow Model
- 23. Solow Growth Model Capital K Y Output Y = √K
- 24. How much output do you get out of the next addition of capital? Diminishing Marginal Product of Capital
- 25. Can poor catch up? Capital Per Worker Output Per Worker Big Gain Little Gain Maybe?
- 26. Solow Growth Model Capital K Y Output Y = √K S = I = s√K K Y =F(K) Saving = Investment S = I S = s√K Consumption Investment
- 27. Solow Growth Model Capital K Y Output Depreciation D Function of K d = rate D = dK Stuff wears out D = dk
- 28. Solow Growth Model Capital K Y Output Depreciation D Function of K d = rate D = dK 2% 5% Slope is the rate
- 29. Solow Growth Model Y = √K S = I = s√K D = dk Capital K Y Output Steady State D = S = I Consumption
- 30. K = 100 s = .30 or 30% d = .025 or 2.5% Y = ? S = ? D = ? Consumption = ? Quiz
- 31. Solow Growth Model Y = √K S = I = s√K D = dk Capital K Y Output 100 10 3 2.5
- 32. Solow Growth Model Y = √K S = I = s√K D = dk Capital K Y Output 144 12 3.60 Consumption 8.40
- 33. Increase Savings Increase Productivity Two Ways to Grow
- 34. Solow Growth Model Raise Savings Rate 30% 40% Capital K Y Output
- 35. Solow Growth Model income is a function of K add a productivity factor to K A = technology Y = √K Y = A√K
- 36. Solow Growth Model Y = A1√K Y = A2√K Capital K Y Output
- 41. Every generation has underestimated the potential for finding new ideas…Possibilities do not add up.They multiply A + B A x B AB
- 43. A candle loses nothing by lighting another candle - John Heller