Essays on Macroeconomics

Introduction Macroeconomics is the study of the economy as a whole, and the variables that control the macro-economy (Chapter 10 Macroeconomic Variables, n.d.). Macroeconomics can be classified as a public good, as it has the unique characteristic of being non-divisible and nonexclusive, meaning it can be shared with all in order to be enjoyed (Chapter...

Introduction Proposed more than sixty years ago, the Solow Growth Model still constitutes a solid theoretical base for economic growth discussions. Solow’s capital accumulation-based model has been augmented together with other factors of productivity by several economists in the last fifty years. In line with that, Mankiw, Romer, and Weil (MRW) constructed their growth model...

Health Status vs. Economy Health has a special place in the economy of a country. The wealth of a nation is measured by the health status of its citizens. Thus, health performance and economic performance go hand in hand. Health issues directly affect education, labor productivity, savings and investments, and demography in a nation (Khullar...

Introduction Inflation measures the average price level of goods and services increasing over a period of time in the economy. These are usually expressed in a form of percentage, when inflation occurs it indicates a decrease the nation’s purchasing power. This causes a price increase which impact the general cost of living for the common...