The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Swan, Trevor W. (1914–1989)

  • Paul A. Johnson
Reference work entry


The first professor of economics at the Australian National University, Trevor W. Swan was an Australian economist known for his foundational contributions to economic growth theory and the theory of economic policy in small open economies. Independently, he and Robert Solow simultaneously formulated what has become known as the Solow–Swan model of economic growth. He devised ‘the Swan diagram’ familiar to generations of students of international economics. A graduate of the University of Sydney, Swan became an Officer of the Order of Australia in 1988 ‘for service to education and to government particularly in the field of economics’.


Cobb–Douglas functions Factor substitution Golden rule Harrod–Domar growth model International reserves Klein, L. R. Neoclassical growth theory Open economy macroeconomics Returns to scale Solow–Swan model Swan, T. W. Tinbergen, J. 

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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Paul A. Johnson
    • 1
  1. 1.