I first introduce the early-stage and modern classical asset pricing and portfolio theories. These include: the capital asset pricing model (CAPM), the arbitrage pricing theory (APT), the consumption capital asset pricing model (CCAPM), the intertemporal capital asset pricing model (ICAPM), and...

The celebrated Uzawa(1961) theorem holds that，on the steady-growth path of neoclassical growth model，technological progress must be purely labor-augmenting rather than capital-augmenting，except the special case where the production function takes the form of Cobb-Douglas. With an augmented...