From ba320a7045c058da2aafa7464ba794252b05ac00 Mon Sep 17 00:00:00 2001
From: JingkunZhao <zhaojingkun1@gmail.com>
Date: Mon, 8 Jul 2024 13:44:21 +1000
Subject: [PATCH 1/3] [solow] Update unfinished suggestions

---
 lectures/solow.md | 5 +++--
 1 file changed, 3 insertions(+), 2 deletions(-)

diff --git a/lectures/solow.md b/lectures/solow.md
index 484f7664d..9d76d62e4 100644
--- a/lectures/solow.md
+++ b/lectures/solow.md
@@ -55,9 +55,9 @@ $$
 Production functions with this property include
 
 * the **Cobb-Douglas** function $F(K, L) = A K^{\alpha}
-  L^{1-\alpha}$ with $0 \leq \alpha \leq 1$ and
+  L^{1-\alpha}$ with $0 \leq \alpha \leq 1$. Here, $\alpha$ is the output elasticity of capital.
 * the **CES** function $F(K, L) = \left\{ a K^\rho + b L^\rho \right\}^{1/\rho}$
-        with $a, b, \rho > 0$.
+        with $a, b, \rho > 0$. Here, $\rho$ is a parameter that determines the elasticity of substitution between capital and labor.
 
 We assume a closed economy, so aggregate domestic investment equals aggregate domestic
 saving.
@@ -81,6 +81,7 @@ Setting $k_t := K_t / L$ and using homogeneity of degree one now yields
 
 $$
     k_{t+1}
+    = s \frac{F(K_t, L)}{L} + (1 - \delta) \frac{K_t}{L}
     = s \frac{F(K_t, L)}{L} + (1 - \delta) k_t
     = s F(k_t, 1) + (1 - \delta) k_t
 $$

From 00d8b7be25ec16be631f9cd390c875546a90b9f8 Mon Sep 17 00:00:00 2001
From: Matt McKay <mmcky@users.noreply.github.com>
Date: Tue, 23 Jul 2024 16:59:21 +1000
Subject: [PATCH 2/3] Update lectures/solow.md

---
 lectures/solow.md | 4 +++-
 1 file changed, 3 insertions(+), 1 deletion(-)

diff --git a/lectures/solow.md b/lectures/solow.md
index 9d76d62e4..c967ac340 100644
--- a/lectures/solow.md
+++ b/lectures/solow.md
@@ -57,7 +57,9 @@ Production functions with this property include
 * the **Cobb-Douglas** function $F(K, L) = A K^{\alpha}
   L^{1-\alpha}$ with $0 \leq \alpha \leq 1$. Here, $\alpha$ is the output elasticity of capital.
 * the **CES** function $F(K, L) = \left\{ a K^\rho + b L^\rho \right\}^{1/\rho}$
-        with $a, b, \rho > 0$. Here, $\rho$ is a parameter that determines the elasticity of substitution between capital and labor.
+        with $a, b, \rho > 0$. 
+        
+Here, $\rho$ is a parameter that determines the elasticity of substitution between capital and labor.
 
 We assume a closed economy, so aggregate domestic investment equals aggregate domestic
 saving.

From d783d83f891234d313d9005b429f75f8b8ce4bec Mon Sep 17 00:00:00 2001
From: JingkunZhao <zhaojingkun1@gmail.com>
Date: Wed, 24 Jul 2024 17:02:56 +1000
Subject: [PATCH 3/3] Revise context

---
 lectures/solow.md | 4 ++--
 1 file changed, 2 insertions(+), 2 deletions(-)

diff --git a/lectures/solow.md b/lectures/solow.md
index c967ac340..0a5160b0c 100644
--- a/lectures/solow.md
+++ b/lectures/solow.md
@@ -55,11 +55,11 @@ $$
 Production functions with this property include
 
 * the **Cobb-Douglas** function $F(K, L) = A K^{\alpha}
-  L^{1-\alpha}$ with $0 \leq \alpha \leq 1$. Here, $\alpha$ is the output elasticity of capital.
+  L^{1-\alpha}$ with $0 \leq \alpha \leq 1$. 
 * the **CES** function $F(K, L) = \left\{ a K^\rho + b L^\rho \right\}^{1/\rho}$
         with $a, b, \rho > 0$. 
         
-Here, $\rho$ is a parameter that determines the elasticity of substitution between capital and labor.
+Here, $\alpha$ is the output elasticity of capital and $\rho$ is a parameter that determines the elasticity of substitution between capital and labor.
 
 We assume a closed economy, so aggregate domestic investment equals aggregate domestic
 saving.