Sustained economic growth

Description

In your answer you will thus need to do the following: • define sustained economic growth • reflect briefly on how sustainable development can be defined • when discussing productivity improvements, define, and distinguish between, technical and allocative efficiency • critically assess the role of competitive markets in improving productivity • reflect critically on possible incidences of market failure and on the role of the state in improving productivity and managing sustainable development • make relevant references in your answer to one or more sectors (eg food and agriculture, transport, health, education, infrastructure, energy, manufactured goods, finance), ensuring that they illustrate clearly the points you are making in relation to your discussion • seek to pose your conclusions in the form of policy recommendations (albeit cast broadly and generically), and in doing so seek to recognise and take account of challenges for sustained economic growth, social equity and environmental protection. Please be aware that the bullets above are not a list of separate questions, but rather a set of tasks that should be used to guide and focus your answer. How and in what order you address these is up to you. A key aim of this question is to encourage you to think across units and to apply your own critical judgement and analysis. This EA is designed to test your knowledge, creativity and analytical skill. You won’t find the answer in a specific part of the course materials, but everything you need to know to create an answer of your own can be found within the first five units of this module