Question

Compare and contrast between the Ramsey model for the central planner and the solow model for economic growth(answer should include the assumptions, important equation,phase diagram and its interpretation)

Answer 1

search on Google it's full information.

Answer 2

Answer:

The Ramsey model also known as Ramsey Cass Koopmans model or Ramsey growth model is a model, which have the difference with the Solow model on the basis of consumption, which leads to increase in the accumulation of wealth, and enhances savings.

Explanation:

Both models are the models of an economic growth curve, and they are built as a solution of making utmost profit and savings,out of the business which is being conducted, by the follower of these models.