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ECON 102 – MACROECONOMICS
ECON 102 – MACROECONOMICS

... appropriate economic concepts to real world events is the key to understand many political and social aspects of international relationships. This course has key link to understand global world economy and economic relations. Mathematics and analytical tools will be used sparingly in this course, bu ...
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Steady-state economy

A steady-state economy is an economy of relatively stable size. A zero growth economy features stable population and stable consumption that remain at or below carrying capacity. The term typically refers to a national economy, but it can also be applied to the economic system of a city, a region, or the entire planet. Note that Robert Solow and Trevor Swan applied the term steady state a bit differently in their economic growth model. Their steady state occurs when investment equals depreciation, and the economy reaches equilibrium, which may occur during a period of growth.
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