Ecn61304 Macroeconomics|Technological Advancement Assessment Answer

Awareness of real world economic problems is becoming crucial in every day’s chaos. Thus, this coursework is designed to create awareness on the real world economic issues. This task will be done in a group which consists of not more than four (4) members. The focus of this group assignment is to enhance the learner’s theory application knowledge as well as expose students to real world economy issues. Each group is required to choose a country [except Malaysia]. In week 5 a Google Doc Form will be made available in TIMeS to indicate the group members and chosen country. The group members should be from the same tutorial section. The choice of country will be based on the first come first serve basis. No group is allowed to choose the same country. One of the limitations of the Solow model is that it failed to explain why economic growth has persisted almost everywhere in the world. The assignment focuses on the impact of technological advancement and population growth in a country’s economic growth. In order to carry out this task the group needs to analyse the followings: 1. Chose a country [except Malaysia] for each group. 2. Analyse the chosen country’s government funding for technological advancement, saving rate, population growth as well as the real GDP per capita growth for 30 years [1989-2018]. 3. Using Solow and Romer Growth models analyse the impact on a country’s GDP per capita due to Saving, technological advancement and population growth. 4. Support your answer with relevant literature reviews based on these two models from articles published between 2015 to 2019. Login into https://taylorslibrary.taylors.edu.my and download at least three (3) relevant economic articles for literature review. 5. Explain how the country’s government encouraged research and development to enhance technological advancement. Maximum word of 3000 will be the limit for this written assignment. 2. Format A. Assignment Coversheet (required) B. Copy of WRITTEN ASSIGNMENT FEEDBACK FORM C. Analysis i. Introduction - Background Analysis on country’ s government funding for technological advancement, saving rate, population growth as well as the real GDP per capita growth for 30 years [1987-2016] ii. Impact of saving, population growth as well as Technology Advancement on Economic Growth - Evaluate how saving, population growth and technology advancement impacts economic growth using Solow and Romer models. Discuss the difference between these two models. - Analyse the 20 years data on saving, government funding for technological advancement, population growth and the growth of real GDP. Is the relationship between these two variables consistent with the theoretical outcome? - Utilize the relevant theoretical diagrams. - Support your findings with relevant literature reviews. iii. Explain how the country’s government encouraged research and development to enhance technological advancement. - Outline the relevant policies. - Explain the relevant intensives. iv. Conclusion - Summarise your analysis. v. References (minimum 3 and do not reference any Wiki sites or lecturer notes)