Tshwane University of Technology ECON ALE30BT Chapter 3: Classical theories of Economic Development 1)What is the main thesis of the Lewis Model? What are the key assumptions of the Lewis model that give rise to its conclusions? How would the theory’s conclusions differ if these assumptions do not hold? What is the main thesis in the Harror-Domar model? Derive the H-D expression which summarizes the main thesis of the model

Economics Aug 03, 2021

Tshwane University of Technology

ECON ALE30BT

Chapter 3: Classical theories of Economic Development

1)What is the main thesis of the Lewis Model?

What are the key assumptions of the Lewis model that give rise to its conclusions? How would the theory’s conclusions differ if these assumptions do not hold?

What is the main thesis in the Harror-Domar model?
Derive the H-D expression which summarizes the main thesis of the model.

5.What are the main criticism of the H-D model?

6.“More savings and Investment is a necessary condition for accelerated rates of economics growth but not a sufficient condition for accelerated rates of economic growth.” True or False?

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