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Sammanfattning: This paper examines the relationship between population growth and economic growth in the European Union during 1962-2017. By combining earlier research and economic growth theory a combined model is presented, which attempts to capture both positive and negative outcomes of population growth on economic growth. The aim of the study is to contribute to earlier research by focusing on the general effects of population growth, as well as the effects of its components: mortality, fertility and migration. The main hypothesis is that these components impact human capital, which in turn affects economic growth. Conclusions about population growth, fertility, mortality and migration and their separate effects on economic growth have been determined by a generalilzed least squared (GLS)- regression analysis. Empirical results demonstrate that the effect of fertility cannot be established due to non-significant results. However, the effect of population growth and migration has been negative, while the effect of mortality has been positive for the economic growth during the given period.