Explain some of the main implications of the standard neoclassical growth model and then explain whether you agree or disagree with the proposition that countries like China, Ireland and South Korea have grown rapidly in the last few decades because the key determinants of their steady-state incomes (investment rates and technology levels) have risen dramatically.

Initial Guidelines:
● The answer should not exceed 1000 words. There should also be included an accurate
word count on the front cover of the assignment.
● A reference list/bibliography is required. This list does not contribute to the word count.
● Please use Arial or Calibri font at 12-point.
● It is advised to generate your own diagrams and may include photographs or scans of
your own hand-drawn, labelled diagrams or calculations. However, it is best that
equations should be embedded in the document using an appropriate equation editor.
Figures and tables should normally be included inline in the text.
● The answer will be assessed using the Marking Criteria (below). In particular, there will
be focus on the following three elements: (1) Analysis and Approach; (2) Knowledge and
Understanding and (3) Style, Presentation, Organisation and Use of Sources.
Question on Topic 1 – Economic Growth:
Explain some of the main implications of the standard neoclassical growth model and then
explain whether you agree or disagree with the proposition that countries like China, Ireland and
South Korea have grown rapidly in the last few decades because the key determinants of their
steady-state incomes (investment rates and technology levels) have risen dramatically.
MORE ADVICE
● Focus on the most important issues. You have to accept that you must be selective.
● Address the question asked, not an imaginary one. Not focussing on the question is the
most common mistake students make.
● On the use of maths: the essay should be mostly in English, even though a lot of it will
inevitably use technical (macroeconomic) vocabulary. Mathematical expressions should
be used, but sparingly. Yes, they can be very useful to support or make a verbal
argument more precise, but they are not a substitute for verbal explanations. If your
essay contains a lot of maths you should rewrite it. And do not assume the reader knows
the notation being used.
● Support your points with theory and, when relevant, with evidence. Unsubstantiated
claims are never great reading. Make sure you report the source of any data used.
Referencing
If you reference papers in your answers, you should reference them using a consistent
referencing system, such as the Harvard referencing system; you should normally cite sources
in the text. As a general rule, you should avoid using footnotes to reference.
● If you include a quote, it should be in quotation marks, and a page number included in
the intext reference.
● Whilst you should normally avoid larger quotes, if you include them, you should also
indent the text.
If you cite a paper in your essay, you should also include a full reference to the paper in the
reference list at the end of the paper.
● Do not list papers in your reference list that you have not referenced in the paper