The Solow Growth Model is described in detail at a level suitable for undergraduates in Charles I. Jones, Economic Growth, Second Edition, W.W. Norton and Company, 2002.
Production is given by the production function Y = Ka(AL)1-a, where Y is output, K is capital, L is labor, and A is a labor-augmenting technology factor. The capital stock increases in a given period by the amount sY - dK, where s is the savings rate and d is the depreciation rate. The labor force grows at rate n, and the technology factor A grows at rate g.
The Model Link below is an Excel spreadsheet that you can download (right click and select "save target as"). The spreadsheet implements a difference equation version of the differential equation form of the Solow Growth Model.
The Solow Growth Model
Spreadsheet (Right mouse click and
"Save Target As" will make a copy.)
Exercises (printable pdf)
Classic
Economic Models
Macroeconomics
Introduction
Overview of Macro Models
Models in Chronological Order
The Classical Model
The Simple Keynesian Model
The Keynesian IS/LM Model
The Mundell-Fleming Model
Real Business Cycles
The IS/MP Model
The Solow Growth Model
Financial Markets
Utility-Based Valuation of Risk
Mean-Variance Analysis:
Risk vs. Expected Return
Fixed Income Securities:
Mortgage/Bond Calculator
Growth Investments:
Present Value Calculator
Microeconomics
Introduction
Overview of Micro Models
Supply and Demand
Basic Supply and Demand
Who Pays a Sales Tax?
The Cobweb Model and
Inventory-Based Pricing
Theory of the Firm
Perfect Competition
Monopoly and
Monopolistic Competition
Price Discrimination
The Demand for Labor
Theory of the Consumer
Two Goods - Two Prices
Intertemporal Substitution
Labor Supply, Income Taxes,
and Transfer Payments
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