Economic Growth and Unemployment Dissertation Example | Topics and Well Written Essays - 3000 words

Economic Growth and Unemployment - speaking Example2.1 Theories of Economic Growth in UKFor several years, economists have debated on the drivers of economic growth of a country. In this section of the research proposal, certain sentiments of economists will be surveyed to present a concrete idea about the driving factors. According to articles released by Tutor2u (2010), the best definition for economic growth would be to go steady it as a long term expansion of the productive potential of the economy. The theory suggests that for criterion the economic growth trend, at least data of past 20 years is required. This is essential for calculate the average set of growth and identifying different cycles of economic growth. This trend calculation also allows for estimating the future rate of growth sustainability without creating any increase in the pressure of inflation (Tutor2u, 2010). The chart above demonstrates the potential train of national income for the UK economy over t he last 30 years. The trend shows that the UKs national income is expected to turf out every year except certain uncertainties. Another essential factor of the chart is the long pop off average potential for growth. 2.2 Theories Related to the Economic Growth and Employment in UKThe focus of the literature review is to measure the relationship between the rate of growth and level of employment in the UK economy. Data released by Department for Business Innovation and Skills (2010) shows the co-movement of UKs GDP and employment since the last 30 years.