Question:Distinguish between potential and actual economic growth and discuss the main factors determining each.
1500 words
Guidance:
The answer should be well structured with an introduction and conclusion and a substantial paragraph on each concept, including diagrams. The question will give you the opportunity to display your knowledge and understanding of actual and potential growth.
Define and explain actual and potential growth.
Explain the causes of each type of growth.
Explain the business cycle and aggregate demand.
Explain productivity and its importance in economic growth.
Explain the factors affecting each type of growth
A minimum of six sources should be used and Harvard referencing must be followed .Basic essay writing skills should be demonstrated, including an introduction, a conclusion, and effective paragraphing.
Resources:
Please find a list of resources for your use.
Gillespie, A (2014) Foundation of Economics
Bannock, G and Baxter R.E. Penguin Dictionary of Economics
Begg, D (2009) Foundations of Economics
Conway, E (2009) 50 Economics Ideas You Really Need to Know
Mankiw G & Taylor, M. (2011) Economics 2nd Edition
Mankiw G, Essentials of Economics
Mankiw G, Principles of Economics
Anderton, A (2006) Economics
Sloman, J Economics
Stanlake, S. J. Introductory Economics
www.Tutor2u.net, www.bized.co.uk, www.economicsonline.co.uk, www.economicshelp.org
Economics Review magazine
Economics Today magazine