Economic Growth: Concepts and Measurement

UNIT ONE ECONOMIC GROWTH: CONCEPTS AND MEASUREMENT

Structure

One point zero OBJECTIVES

After going through this unit, you will be able to:

· define the concept of economic growth;

· distinguish between economic growth and economic development;

· write a note on the different types of growths used in empirical works;

· explain the importance of studying the process of economic growth;

· discuss the sources of economic growth; and