The Single Country Model

  • James A. Hanson
Part of the Lecture Notes in Operations Research and Mathematical Systems book series (LNE, volume 59)


The purpose of this chapter is to develop the sufficient conditions for the existence and uniqueness of short-run equilibrium and the long-run balanced growth path in a model which permits some consumer choice. This model is useful because it provides a basis for the study of the growth equilibrium in a two country trading world, as well as an insight into the importance of the demand conditions in determining the short- and long-run equilibrium.


Price Elasticity Relative Price Income Elasticity Balance Growth Path Agricultural Good 
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  1. 1.
    J. Meade, A Neoclassical Theory of Economic Growth, New York, 1961, p. 6.Google Scholar
  2. 4.
    K. Inada, “On a Two-Sector Model of Economic Growth, Comments and a Generalization,” Review of Economic Studies, Vol. 30 (June, 1960 ), pp. 119–127.Google Scholar

Copyright information

© Springer-Verlag Berlin · Heidelberg 1971

Authors and Affiliations

  • James A. Hanson
    • 1
  1. 1.Department of EconomicsBrown UniversityProvidenceUSA

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