I've been looking at the economics undergraduate curriculum and have been thinking and wondering as to what specific skillset we want to equip undergraduate students with in the working world.
One can think about this by thinking about the ideal career outcomes of economics undergraduates. Most undergraduates with economics degrees should ideally end up in two occupations* (ideally meaning that their education will correspond to a desired occupation):
- Data Analyst (using exclusively data to identify actionable information)
- Business Analyst (using data and qualitative information regarding the economic environment relevant to a given business to identify actionable information).
With these two ideal career outcomes in mind its very clear as to why intermediate microeconomics, econometrics and market macro makes a difference. However as to why the Solow Growth model is taught on the undergraduate level is a bit confusing for me and Im left with any satisfactory answer.This is a relevant question because its a part of the core undergraduate macroeconomics education so its relevant for even those not intending to go to graduate school.
In terms of specific career outcomes (it could be that this list is lacking) why is studying the Solow model relevant for the undergraduate student who does not intend to go to graduate school?
EDIT: Im not coming to say the solow model is useless, im asking why this is a part of the core economics curriculum. I myself am interested in economic growth in terms of understanding the economy and its fluctuations. Additionally I'm an economics educator not a student so these questions do come up in classes where im responsible to respond to them.