1) The document discusses endogenous growth models, which aim to explain long-run economic growth by making technological progress and its rate of change endogenous rather than exogenous factors.
2) Key aspects of endogenous growth discussed include treating ideas as non-rival and partially excludable goods, and introducing research and development sectors to endogenize technological change.
3) The Romer growth model is outlined as a seminal endogenous growth model, combining neoclassical production with a theory of research and development to explain sustained economic growth.
Innovation Procurement: What is it and what does it mean for Grand Challenges...STIEAS
OECD expert workshop on the measurement of public procurement of innovation. "Innovation Procurement: What is it and what does it mean for Grand Challenges, Growth and Employment?", presentation by Charles Edquist
Types of Inventions; Difference between invention and innovation; Types of innovation; Innovation process vs Process innovation; Linear innovation models.. Technology push model, Market pull model; Flexible innovation process models
Presetation is debating the successor of Capitalism: Entrepreneurship.
Regarding the work of Schumpeter and Herbert Simon, resulting in effectuation and design thinking, the 4th wave of industrial evolution has started.
According to Giddens (1997), their main charac¬teristics, viz., sovereignty, citizenship and nationalism, are discussed as under:
Sovereignty:
All nation-states are sovereign states. The notion of ‘sovereignty’ refers to the authority of a government over a clearly defined territory with clear cut borders, within which it is the supreme power.
Citizenship:
In modern societies most people living within the borders of the political system are citizens, having common rights and duties and knowing themselves to be part of a nation. Almost everyone in the world today is a member of a definite political order.
Nationalism:
Each community acquires a distinctive character through its association with nationalism. Nationalism can be defined as ‘a set of symbols and beliefs providing the sense of being part of a single political community’. Thus, individuals feel a sense of pride and belonging in being Indian, British, American, Russian or French. It is the main expression of feelings of identity with a distinct sovereign community.
Nationalistic loyalties do not always fit with the physical boarders marking the territories of states in the world today. While the relation between the nation-state and nationalism is a complicated one, the two have come into being as part of the same process.
Nationalism has become an increasingly powerful force in the world, serving as a basis not only of collective social identity but also for political mobilization and action, especially through the use of warfare. The consequences of nationalism often breed extremism and feelings of ethnocentrism (a tendency to think and act blindly that our culture is superior to those of others) resulting into political conflicts. Extreme forms of nation¬alism have engulfed many nations into warfare.
Functions of the State:
As with all social institutions, the state is organized around a set of social functions. It is an important agency of social control which performs this function through laws.
The main functions are maintaining law, order and stability, resolving various kinds of disputes through the legal system, providing common defence, and looking out for the welfare of the population in ways that are beyond the means of the individual, such as implementing public health measures, providing mass education and underwriting expensive medical research. From a conflict perspective, the state operates in the interests of various dominant groups, such as economic classes and racial and ethnic groups.
Lean Mayher (1971) stated the following basic functions of the state:
1. Limiting internal power struggles to maintain internal peace.
2. Bringing power to bear on other societies in defence of national interest or in expanding and building empire
Innovation Procurement: What is it and what does it mean for Grand Challenges...STIEAS
OECD expert workshop on the measurement of public procurement of innovation. "Innovation Procurement: What is it and what does it mean for Grand Challenges, Growth and Employment?", presentation by Charles Edquist
Types of Inventions; Difference between invention and innovation; Types of innovation; Innovation process vs Process innovation; Linear innovation models.. Technology push model, Market pull model; Flexible innovation process models
Presetation is debating the successor of Capitalism: Entrepreneurship.
Regarding the work of Schumpeter and Herbert Simon, resulting in effectuation and design thinking, the 4th wave of industrial evolution has started.
According to Giddens (1997), their main charac¬teristics, viz., sovereignty, citizenship and nationalism, are discussed as under:
Sovereignty:
All nation-states are sovereign states. The notion of ‘sovereignty’ refers to the authority of a government over a clearly defined territory with clear cut borders, within which it is the supreme power.
Citizenship:
In modern societies most people living within the borders of the political system are citizens, having common rights and duties and knowing themselves to be part of a nation. Almost everyone in the world today is a member of a definite political order.
Nationalism:
Each community acquires a distinctive character through its association with nationalism. Nationalism can be defined as ‘a set of symbols and beliefs providing the sense of being part of a single political community’. Thus, individuals feel a sense of pride and belonging in being Indian, British, American, Russian or French. It is the main expression of feelings of identity with a distinct sovereign community.
Nationalistic loyalties do not always fit with the physical boarders marking the territories of states in the world today. While the relation between the nation-state and nationalism is a complicated one, the two have come into being as part of the same process.
Nationalism has become an increasingly powerful force in the world, serving as a basis not only of collective social identity but also for political mobilization and action, especially through the use of warfare. The consequences of nationalism often breed extremism and feelings of ethnocentrism (a tendency to think and act blindly that our culture is superior to those of others) resulting into political conflicts. Extreme forms of nation¬alism have engulfed many nations into warfare.
Functions of the State:
As with all social institutions, the state is organized around a set of social functions. It is an important agency of social control which performs this function through laws.
The main functions are maintaining law, order and stability, resolving various kinds of disputes through the legal system, providing common defence, and looking out for the welfare of the population in ways that are beyond the means of the individual, such as implementing public health measures, providing mass education and underwriting expensive medical research. From a conflict perspective, the state operates in the interests of various dominant groups, such as economic classes and racial and ethnic groups.
Lean Mayher (1971) stated the following basic functions of the state:
1. Limiting internal power struggles to maintain internal peace.
2. Bringing power to bear on other societies in defence of national interest or in expanding and building empire
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
Personal development courses are widely available today, with each one promising life-changing outcomes. Tim Han’s Life Mastery Achievers (LMA) Course has drawn a lot of interest. In addition to offering my frank assessment of Success Insider’s LMA Course, this piece examines the course’s effects via a variety of Tim Han LMA course reviews and Success Insider comments.
2. • Content
– Basic ideas of new growth
– Problem of declining marginal returns
– The economics of ideas
– Outline of Romer/Jones model
3. Introduction
• The neoclassical growth model highlights
technological progress as the engine of economic
growth, but they assume that growth occurs
because of automatic and unmodeled
(exogenous) improvements in technology.
– these theories are unable to explain why growth rates
(and, in particular, the rate of technological progress)
might change from one time period to another.
– Solow’s growth model implies more rapid
convergence of incomes than seems actually to have
occurred, particularly between developed and
developing countries.
4. The problem of DMP
• The main reason why lon grun economic growth is to
cease or stagnant in the Solow Growth model is
because of the diminishing MP of inputs (capital and
labor), and exogenous technological growth.
• Empirical results on the neoclassical model raised
several questions about the diminishing marginal
returns to capital, the exogeneity of technical change
and hence researchers have focused on these
elements.
– The assumption of an exogenous growth rate is a
simplification to work with a simple model, but it is not
very realistic.
5. • The principal engine behind endogenous
growth is the elimination of the assumption of
decreasing returns to “capital.”
– how?
1. Through endogenizing technological growth
• If the rate of growth of A is not exogenous, what is
behind A?
– This is the aim of endogenous growth models: to explain the
engines of growth.
2. by direct assumption:
6. – The Endogenous Growth Models examine the
endogeneity of n, s and the rate of technological
change which are assumed to be exogenous in the
neoclassical model.
– The pioneer of “endogenous growth theory” is
Paul Romer. His 1986 paper in the Journal of
Political Economy is a seminal work in the modern
revitalization of growth theory.
7. Basic ideas of New Growth Theories
• The main points of the endogenous growth theory are as follows:
1. The rate of technological progress should not be taken as a given in a
growth model – appropriate government policies can permanently
raise a country’s growth rate particularly if they lead to a higher level
of competition in markets and a higher rate of innovation
2. improvements in productivity can be linked to a faster pace of
innovation and extra investment in human capital.
3. positive externalities and spill-over effects from development of a
high valued-added knowledge economy
4. There are potential increasing returns from higher levels of capital
investment
5. Private investment in R&D is the central source of technical progress
6. Protection of property rights and patents can provide the incentive
to engage in R&D
7. Investment in human capital (education and training of the
workforce) is an essential ingredient of growth
8. The Economics of Ideas
• What is ideas/technology?
– …..is the way inputs to the production process are
transformed in to outputs.
• technologies are by no means limited to facts of
engineering, or an innovation of machine
– It is a thing that improves the efficiency of your job.
• It is any idea that improves the way inputs are used to
produce output.
– Thus, ideas are broadly defined to include:
• Designs for new products: the Pentium chip, the steam
engine,...
• New ways of organizing production: Walmart, the assembly
line.
9. Characteristics of Ideas
• Romer observed that ideas are very different
from most other economic goods.
– Most goods like CD player, lawyer services are
rivals.
– In contrast, ideas are non-rivalrous.
• An idea can be used by many at the same time.
– Once an idea has been created, any one with the knowledge
of the idea can take the advantage of it.
– Many people can use it without diminishing its value
» Ex:-just in time inventory method, BPR, Calculus, design
for some product
10. • In practice, it may not be possible to use the
same idea many times.
– Obstacles include: Patents, copy rights, Secrecy
• Thus, it may be possible to exclude others
from using an idea.
– Non-rivalry is a technological concept.
– Excludability is a social / legal arrangement.
11. • Note:
• Goods that are excludable allow their producers to capture
the benefit they produce
• Goods that are not excludable involves substatntial spillover
of benefits that are not captured by the producers.
• Goods with +ve spillover tend to be underproduced by mkt
• Goods with -ve spillover tend to be overproduced by mkt
• Goods that are rivalrous must be produced each time they
are sold; but non rivalrious goods need to be produced only
once.
12. • Production uses rival inputs (capital and labor)
and non-rival inputs (ideas).
– It seems safe to assume (at least) constant returns
to rival inputs
• Doubling K and L should (at least) double Y . - Why?
– That means: Doubling all inputs (including ideas)
more than doubling of output.
• Nonrivaly ⟹ Increasing returns to scale.
13. • We know from our intermediate microeconomics that
market economies tend towards “efficient” outcomes
only when markets are perfectly competitive.
– Under perfect competition prices reflect the marginal
"values" of goods.
– i.e., Perfect competition requires that goods are priced at
marginal cost.
• What happens if a firm tries that when production has
increasing returns to scale?
– With increasing returns: Marginal cost < average cost.
– Thus, the firms incurs a loss, if price = marginal cost.
14. • Note that non rivalrious goods have a fixed cost of production and
very low (and sometimes zero) marginal cost.
– Ex:
• It took Bill Gates millions of dollar, to develop microsoft but it is duplicated at
significantly lower cost.
• Many drugs should cost virtually nothing, but their prices must amortize
hundreds of millions of dollars in drug development costs. (It may costs $800m
to invent, but each dose costs $1 to produce.)
AC
MC
Q
Cost
15. • Thus, the economics of ideas is tied intimately
to the presence of Increasing RS and imperfect
competition.
• The innovator must be able to charge more
than marginal cost for some time.
– This is what the patent system achieves.
16. – While government incentives such as prizes or
public funding could substitute for these market
incentives in cetain cases, history suggests that it
is only when the market incentives were sufficient
that widespread innovation and growth took hold
– To promote market incentive, the government
often provides patent right to innovators.
• A patent is a legal document that describes an
invention and entitles the patent owner to a monopoly
over the invention for some period of time (like 17, 20,
50 years etc.)
17. Romer Growth model
• Basic element of the model:
– The model endogenizes technological progress by
introducing the search for new ideas by
researchers interested in profiting from their
inventions
• Note that in the advanced world technological progress
is driven by R&D
– Objective: to explain why and how the advanced
countries of the world exhibit sustained growth.
• How the world technological frontier is continually
pushed outward.
18. • Basic principle
– It combines neoclassical production with theory of
Research & Development
– Technological progress isn’t free—it is the result of costly
R&D efforts that must be rewarded in the market.
– Economy with three sectors:
1. Final Production Sector: Final goods Y are produced from
intermediate products and labor LY at a given level of technology
A. Interpret “A” as number of existing blueprints/ideas.
2. Research Production Sector: New blueprints/ideas are created
from labor inputs LA, building on the existing technology A. Labor
force L=LY + LA.
3. Intermediate Products Sector: included as device to model cost
recovery for R&D, and to handle increasing returns to scale in K,
L, and A.
19. The Research Sector
• Assumption:
– Research is labor-intensive. For simplicity, omit capital inputs to research.
– Research output at the individual level is proportional to the labor input:
– technology is endogenized
• Romer defined the rate of technological growth as follows:
• Where:
– A=stock of existing knowledge (or number of ideas that has been invented up
to time t)
– Ả =the number of new ideas produced at any given point of time
– 𝜹=the rate at which new ideas are discovered
– LA= number of people attempting to discover new ideas
• Note: L=LA+LYlabor is used either to produce new ideas or new goods
A
L
A .
20. – The above equation implies that how technology
grows depends on the rate at which technology is
discovered times the number of people engaged
in a creation of ideas (people engaged in research
and development).
– But what determines 𝜹?
• The rate at which new ideas are derived depends on
how the previous ideas help in promoting new ideas
A
.
21. • Thus, the property of ᵹ depends on the value of 𝜙:
– 𝜙=0:
• ᵹ grows at constant rate; (1/month, 1/year, ….etc).
• Productivity of research is independent of the stock of knowledge
– 𝜙<0: negative spillover from the existing research
• Fishing-out case
• The more technology is developed, the harder to get new technology
– 𝜙>0: positive knowledge spillover in reaserch
• A grows at an increasing returns
• Productivity of research increases with the stock of ideas that have
already been discovered.
22. • Hence,
• This implies that growth in A is proportional to LA. But
this is not always the case, for duplication of ideas.
– If more people do research competitively. Efforts
might be duplicated or wasted.
– Book page 382
A
L
A
A