Category Archives: Economics

Homeworkhelp- Problem Set #1 Economics 105 – Fall Quarter 2017


Problem Set #1

Economics 105 – Fall Quarter 2017

Answers due in class on 9/18/17

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Instructions: Answer all questions. You are welcome (encouraged, actually) to work in groups

of 2 or 3. If you do so, please hand in one copy of the problem set with all names on it.

  1. Water is a scarce resource, especially in some places in the United States like Los

Angeles. Give an example of how water scarcity leads to a trade-off. Describe how an

economist might evaluate that tradeoff.

  1. Use the principle of marginal benefit and marginal cost to answer the following

questions. Be sure to explicitly state the marginal cost and marginal benefit associated

with the question of interest before answering the question.

  1. Katie is planning to sell her house, and she is considering making two upgrades to

the house before listing it for sale. Replacing the carpeting will cost her $2,500

and replacing the roof will cost her $9,000. Katie expects the new carpeting to

increase the value of her house by $3,000 and the new roof to increase the value

of her house by $7,000. Should she undertake either of the projects? Why?

  1. Peter buys and sells real estate. Two weeks ago, he paid $300,000 for a house on

Pine Street, intending to spend $50,000 on repairs and then sell the house for

$400,000. Last week, the city government announced a plan to build a new

landfill on Pine Street just down the street from the house Peter purchased. As a

result of the city’s announced plan, Peter is weighing two alternatives: He can go

ahead with the $50,000 in repairs and then sell the house for $290,000, or he can

forgo the repairs and sell the house as it is for $250,000. What should he do?

  1. Jessica makes photo frames. She spends $10 on the materials for each photo frame.

She can create one photo frame in an hour. She earns $10 per hour at a part-time job at

the local coffee shop. She can sell a photo frame for $25 each.

  1. What would an accountant calculate Jessica’s per frame costs to be?
  2. What would an economist calculate Jessica’s per frame costs to be?
  3. Why is (a) different than (b)?
  4. If Jessica can get as many hours as she wants at the coffee shop, what is the profit

associated with each frame she makes and sells? Profit is total revenue minus

total cost.

  1. i) How would an economist answer this question?
  2. ii) How would an accountant answer this question?
  3. Suppose that the supply and demand curves can be described by the following two

equations:

Q=3P-6

Q=120-3P

  1. Which equation is the supply curve and which equation is the demand curve?

How do you know?

  1. Solve for the equilibrium in this market (i.e. the price and quantity one would

expect to result from these supply and demand curves)

  1. Suppose the market for oranges is in equilibrium.
  2. Draw a generic picture of this equilibrium. Be sure to label both axes and the

equilibrium price and quantity.

  1. Suppose that doctors discover that consumption of oranges decreases one’s risk of

getting cancer.

  1. i) What thing that was previously held fixed (from the supply FUNCTION

or demand FUNCTION) is likely to change?

  1. ii) What curve shifts and how?

iii) Draw the new equilibrium. Show (and describe) what happens to

equilibrium price and quantity compared to the original equilibrium?

  1. Separately, suppose that orange growers develop a new fertilizer that makes

orange trees more productive.

  1. i) What thing that was previously held fixed is likely to change?
  2. ii) What curve shifts and how?

iii) Draw the new equilibrium associated with (c). Show (and

describe) what happens to equilibrium price and quantity compared to

the original equilibrium in (a)?

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Assignment help-ECON 361 – Intermediate Microeconomics


Assignment help-ECON 361 – Intermediate Microeconomics

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Chapters 3 & 4 Homework #2 Due: September 14th, 2017
ECON 361 – Intermediate Microeconomics Page 1 of 1
1. Jan has the following utility function for broccoli:
U(B) = 54B 􀀀 0:5B3
a) What is Jan’s marginal utility function?
b) Plot the utility and the marginal utility functions on two
separate graphs. Be sure to label the axes and the curves
carefully.
c) Suppose that Jan is allowed to consume as much broccoli
as she likes and that broccoli costs her nothing. Show,
both algebraically and graphically, the value of B at which
she would stop consuming broccoli.
2. Consider the utility function U (x; y) = 12×3=2y1=2.
a) What are MUx and MUy?
b) Does the consumer believe that more is better for each
good? Explain using your answer from a).
c) Do the consumer’s preferences exhibit a diminishing
marginal utility of x? Is the marginal utility of y dimin-
ishing?
3. Draw indierence curves to represent the following types of
consumer preferences. Make sure to include arrows to indicate
direction of preference. (Hint: Start with a bundle (say 10
units of each), and think about other bundles that give the
consumer the same utility.)
a) I like Soda, but neither like nor dislike Coee.
b) I dislike Soda, but neither like nor dislike Coee.
c) I like Soda, but dislike Coee.
d) I like both Soda and Coee, and always get the same ad-
ditional satisfaction from 1 ounce of Soda as I do from 2
ounces of Coee.
e) I like Soda and Coee, but I only want 2 ounces of Soda
for every 1 ounce of Coee.
4. The utility that Mary receives by purchasing E units of enter-
tainment and purchasing F units of food is given by,
U (E; F) = E1=2F
a) What are the marginal utility functions?
b) On a graph with E on the horizontal axis and F on the
vertical axis, draw indierence curves for U = 12, U = 18,
and U = 24.
c) Do the shapes of these indierence curves suggest that
Mary has a diminishing marginal rate of substitution of
entertainment for food? Explain.
d) Using the marginal utilities, determine the MRSE;F .
e) Calculate the slope of the indierence curve U = 12 at
the points (E; F) = (4; 6); (1; 12). Do these slopes suggest
diminishing marginal rate of substitution?
Now, assume that entertainment costs $4 per unit and the
food cost $2 per unit. Mary has $24 to spend on entertainment
and food.
f) Using algebra (the tangency condition and budget line),
nd the optimal choice of entertainment and food.
g) Using a new graph with entertainment on the horizontal
axis and food on the vertical axis, draw the budget line,
the utility maximizing basket, and the indierence curve
that contains the utility maximizing basket.
h) Now, assume that Mary has $I and the prices are PE and
PF , solve for the optimal basket as a function of I; PE;
and PF .
5. Alex is currently spending all of his income and consumes 10
hamburgers and 3 salads each week. At his current consump-
tion basket, his marginal utility for hamburgers is 5 and his
marginal utility for salads is 2. If the price of one hamburger
is $3 and the price of one salad is $1.50, is Alex currently
maximizing his utility? If not how should he reallocate his
spending in order to increase his utility?
6. Tom is trying to decide whether or not to buy Arizona season
tickets for basketball. There are a total of 20 home games dur-
ing the 2017-2018 basketball season. If Tom buys individual
game tickets they cost $25 each. A season ticket which allows
Tom to go to all the games costs $325. If for some reason Tom
can’t go to a game, then he can sell the tickets to his friend
for $10 per game.
a) On a graph with games attended on the horizontal axis
and \other goods” on the vertical axis draw Tom’s budget
line.
b) On the graph from part (a) draw a set of indierence curves
that illustrates why Tom may be better o without season
tickets.
c) On a new graph draw the same budget line you found in
part (a). Now draw a set of indierence curves that illus-
trates why Tom might not be better o with season tickets.
7. A consumer buys two goods, food and housing, and likes both
goods. When she has budget line BL1, her optimal choice is
basket A. Given budget line BL2, she chooses basket B, and
with BL3, she chooses basket C. Examine the following graph
in order to answer the following questions: (Hint: use revealed
preference, transitivity and more is better)
BL1 BL2 BL3
A
C

B

a) What can you infer about how the consumer ranks baskets
A, B, and C? If you can infer a ranking, explain how. If
you cannot infer a ranking, explain why not.
b) On the graph, shade in (and clearly label) the areas that
are revealed to be less preferred to basket B, and explain
why you indicated these areas.
c) On the graph, shade in (and clearly label) the areas that
are revealed to be (more) preferred to basket B, and ex-
plain why you indicated these areas.

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PEEG 460 Petroleum Economics & Risk Analysis

Spring 2017

PROJECT  SCENARIO

Your team has been selected by ADNOC to study an interesting prospect – a sour gas reservoir in a foreign country. The host government is proposing two alternative methods to develop the field, with gas used in local power generation, but at present only limited data is available, primarily from one well test (currently waiting for the service company to provide the data) and other reservoirs in the same country. You need to supplement existing data by consulting the literature and/or making engineering estimates as required.

Working in your teams, you will do the following:

  1. Complete your individual CV as instructed previously. These will be included in an Appendix in your final report. [Deadline Mon. 10th Apr. by e-mail]
  1. Each team member must carry out the following personal assignment:
    1. Divide the following subjects among team members:
  1. Likely future product prices for gas and other products
  2. Decommissioning techniques and costs for facilities after abandonment
  • Political and economic issues in your “host” country (to be revealed shortly)
  1. What new technology could be applied to improve recovery and/or economics
    1. Each team member will write a report on their subject which will form an appendix in the final project report. The report should summarise the issues in the subject area associated with the project description. Then it should make recommendations about what to do or what data to use which relate to the project above. The rest of the project should be aligned with the recommendations as far as possible.
    2. There must be at least one reference to the course textbook and at least three to other published work. You can use web page references but at least one reference must be to a refereed publication or book. Use SPE guidelines for the citation.
    3. The report should use a minimum of 1000 works but not exceed 3000 words.
    4. Don’t forget your Student Pledge of Academic Integrity!
    5. Please submit your agreed assignments for your team by Mon. 10th Apr. by e-mail. The deadline for this individual report is Sunday 16th April but you should try to complete the work earlier, as other project work is likely to depend on it.
    6. This assignment will be worth 20% of the overall project grade.
  1. Make a simple plan stating which team members will be responsible for the remaining tasks on the project as described below (max. 2 per task) and giving target dates for tasks. The work should be shared out evenly. [Deadline Weds. 12th Apr. Send assignments by e-mail]
  1. Based on the agreed assignments carry out the following tasks:
    1. Estimate the reserves and recoverable hydrocarbons for the reservoir.
    2. Make a development plan for the reservoir (number of wells, timing, production etc.).
    3. Develop a cash flow model using Excel spreadsheets.
    4. Plan for the entire field to be decommissioned by plugging and abandoning wells and removing and scrapping all facilities or other more-economic option.
    5. Compare the two development options proposed by the host government:
  1. A special service contract where the operating or service company handles all costs and is paid a fixed price per unit of gas produced (with ownership of any oil or condensate produced being transferred to the host government).
  2. A concession contract in which all costs are handled by the operator, products are sold at market rates, and the government charges royalties and corporate tax.
    1. Estimate financial parameters which management could use to compare your project with others.
    2. Perform a risk analysis, including sensitivity studies using the cash flow model you have built, and use of other techniques to be presented in classes.
    3. Write a report (minimum 2000 words) describing all the work done above, and making recommendations as to which if any development option is worthy of more detailed evaluation. You must take into account the findings of individual projects assignments.
    4. The report must contain the individual reports as appendices (they do not contribute to the 2000 word limit above).
    5. Proof read the report checking consistency, spelling, units, rounding etc.
    6. Submit Word report by e-mail [Deadline Sun. 30th April – start of the final week of the semester]. Note: If for any reason the PI indicates that there will be no deadlines on this day, the deadline will be moved earlier to whichever day is permitted to be a deadline.

Notes:

  1. You are at liberty to enhance the scenario according to your own ideas, providing these build on the basic scenario.
  2. Teamwork means different members work on different tasks, but communicate with others to ensure work is towards the same goals. If disagreements occur, the team should meet to find a solution.
  3. If a team is unable to agree on the distribution of tasks, let me know and I will attribute them to you by “drawing lots out of a hat”.

More data on your particular project will be send shortly

John M. Williams                    27th March 2017

Khalifa University of Science and Technology

(Note: We have been told to use this new name in all PI communications)

EC912 Quantitative Methods-Project 2: Time Series.


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EC912 Quantitative Methods.
Mini-Project 2: Time Series.
Your answer must be submitted by 23:59 on Monday 13th of March 2017.
1 Submission Details.
Projects which violate any of the following constraints will be penalized by 15 points (out of 100).
The report should be a maximum of 2 sides of one A4. In addition to this, you can separately add up to
2 sides of one A4 containing tables and graphs.
Tables should include ONLY those results which are relevant for your discussion.
The preferred way of reporting parameter estimates from regression functions is an in-line equation, with
standard errors in parenthesis, as in,
bY
t = 0:439673
(0:13968)
+ 1:16446
(0:015067)
Xt: (1.1)
If you end up with a model with a very large number of terms on the right hand side, then report only
the important estimates.
The project must be word processed, using 12 point Arial font and margins of at least an inch at top,
bottom, left and right.
Do not add a cover page or a title to the report.
The project must be submitted using MyPlace.
Late submission (except in exceptional medical circumstances and with prior agreement) will be penalized
according to departmental policy which is:
1 day late 5% of the mark allocated deducted.
2 days late 10% of the mark allocated deducted
3 days late 20% of the mark allocated deducted
4 days late 40% of the mark allocated deducted
5 days late 100% of the mark allocated deducted
2 Project.
The le santanderBBVA.gtl contains the weekly prices of two shares listed in the Madrid Stock Exchange.
The shares correspond to multinational Spanish banking groups Santander Group and Banco Bilbao Vizcaya
Argentaria (BBVA). The period under consideration is 1st of March 2000 to 27th of February 2017. Using
Gretl, complete the following tasks.
1. For the BBVA series:
Evaluate whether or not the series is I(1).
1
Transform the series into returns. Evaluate if the transformed series is I(1).
Using a histogram study the distribution of returns, and comment on whether the distribution exhibits
thicker tails than the normal distribution.
Study whether or not the square of the series in returns exhibits persistence.
Given your previous answers, would you say that the series of BBVA in returns exhibits conditional
heteroskedasticity?
Fit a GARCH(1,1) and a GARCH(2,1) to the BBVA time series in returns. Your model should
include a lag of the dependent variable in the conditional mean. Use an information criteria to select
one of the two models. For the selected model plot a graph of Residuals vs BBVA in Returns. Provide
a brief description of the pattern of volatility in the series.
2. Produce a time series plot of the Santander and BBVA series in levels. On the basis of this plot alone,
would you say that the two series are cointegrated?
3. Formally test if the Santander and BBVA series are cointegrated and, in so, report the value of the
cointegration parameter. Discuss your results.

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Homework help-Econ 4400, Elementary Econometrics


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HOMEWORK4

Econ 4400, Elementary Econometrics

Directions: Please follow the instructions closely. Questions 1-10 are worth 9 points each. Question 11 is worth 10 points.

Due: All problem sets have to be turned in at the beginning of the class. Due Dates: March 2

Table 1 includes regression results using the NLSY 97 data set. The omitted racial group is ”non-black/ non-Hispanic”. The omitted census region is ”West”. The omitted favorite ice cream flavor is Chocolate.

Using the regression results in Table 1 perform each of the following tests. Use 0.05 significance level for every problem unless otherwise noted. You should write both the null and alternative hypotheses, calculate the necessary statistics, find correct critical values, and make the correct conclusion

  1. Use a t-test to test if education has a statistically significant(2-sided) effect on income in column 1.
  2. Use a t-test to test the null hypothesis that black workers make more than nonblack/non-Hispanic, all else equal.
  3. Find confidence intervals for the coefficient on education in column 1 and column

 

  1. Use the SSR version of the F-test to test the joint significance of the regional variables. (You can ignore the e + 12)
  2. Use the R2 version of the F-test to test the joint significance of the regional variables.
  3. Why does the coefficient on education change in each regression? Why would it be so much different in columns 1 and 3?
  4. Column 4 includes favorite ice cream flavor. Use an F-test to show that they should not be included.
  5. Typically there are stars to denote p-values on regression results. If 1,2, or 3 stars were added for p-values< 0.10, < 0.05, and < 0.01 respectively. How many stars would go on the coefficient for Northeast in column 2?
  6. Interpret β2 in column 1.
  7. What additional information is needed to test if black workers and Hispanic workers earn different incomes in column 1? What regression could you run to simplify the test?
  8. This must be typed. Use the project data set to estimate the equation with all of the variables from columns 1,2,3. of the regression results table and one other regression that you may find of interest for your project. (Your data set is a subsample of this set.) ”grade” is the education variable, the census variable has the regional categories.

To create dummy variables for race type ”tab race, gen(rdum)”. This will create rdum1. rdum2, rdum3, rdum4, and rdum5, each will have the associated race in the variable label. Use the same technique for census group.

(a) Create a table similar to Table 1 with regression results. The table does not need to be identical, but all of the following must be met to receive credit:[1]

  • Include all of the listed variables.
  • Use variable labels that make sense to someone that has never used the data (ie Years of Education instead of ihigrdc).
  • Put standard errors in parentheses.
  • Denote coefficients that are statistically significant at 0.01 ***, 0.05 **, and 0.10 * significance levels.

Table 1: Regression Results For Homework 4

  (1) (2) (3) (4)
  Adult Income Adult Income Adult Income Adult Income
Education 3914.8 3934.4 2626.2 3885.8
  (226.7) (227.0) (275.9) (227.1)
Black -6886.0 -7583.6 -790.1 -7192.8
  (1597.8) (1668.6) (1716.4) (1635.8)
Hispanic -2270.6 -2144.4 2318.2 -2424.3
  (1727.4) (1809.5) (1764.7) (1731.5)
Mixed race (non-Hispanic) -1836.1 -1683.2 -2405.2 -1979.6
  (6978.8) (6982.2) (6842.2) (6979.6)
Female -15382.8 -15434.5 -14758.5 -15478.4
  (1291.0) (1291.2) (1266.8) (1294.4)
Age 1445.7 1472.3 1378.0 1478.4
  (461.1) (461.0) (452.4) (461.2)
Northeast   3267.4

(2184.2)

   
North central   -195.0

(1955.8)

   
South   2500.6

(1864.7)

   
Armed Services Aptitude Battery     0.149

(0.0291)

 
HH Income as Adolescent     0.112

(0.0164)

 
Vanilla       2217.6

(1692.8)

Strawberry       -791.6

(1742.8)

Butter pecan       1304.7

(2439.6)

None of these       3718.6

(2397.3)

Constant -57155.2 -59457.3 -52242.0 -58456.2
  (14572.0) (14636.8) (14289.6) (14606.5)
Observations 1995 1995 1995 1995
ESS 3.79899e+11 3.83837e+11 4.46293e+11 3.84050e+11
RSS 1.62137e+12 1.61743e+12 1.55497e+12 1.61721e+12
R2 0.190 0.192 0.223 0.192

Standard errors in parentheses

Table 2: Project Sample

  (1) (2)
  Earnings per hour Log(Earnings Per Hour)
Highest grade completed 113.5∗∗∗ 0.0574∗∗∗
  (1.044) (0.000538)
Age 80.32∗∗∗ 0.0545∗∗∗
  (1.044) (0.000538)
Age2 -0.765∗∗∗ -0.000529∗∗∗
  (0.0122) (0.00000628)
Female -276.2 -0.168∗∗∗
  (5.429) (0.00280)
[1em] Black -180.4 -0.0963∗∗∗
  (8.843) (0.00455)
American Indian -106.1∗∗∗ -0.0495∗∗∗
  (25.20) (0.0130)
Asian -11.76 -0.0206∗∗∗
  (13.22) (0.00681)
Other Race -34.41 -0.0182
  (18.27) (0.00941)
Adjusted R2 0.211 0.255

Standard errors in parentheses

p < 0.10, ∗∗ p < 0.05, ∗∗∗ p < 0.01

 

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[1] All of these can be done with the esttab command. See the sample estout.do file and previous homework’s on carmen for help.

Assignment help-TECO101 Microeconomics Principles


Assignment help-TECO101 Microeconomics Principles

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Major Assignment
Unit: TECO101 Microeconomics Principles
Due Date: By 10:30 am Wednesday, 25th January,
Total Marks: 100 marks (20%)
Number of Questions: Four (4) Questions
Instructions: All questions should be attempted.
The marks of each question would be awarded based on your
understanding of the questions, concepts and procedures; hence
you should demonstrate your answers step by step.
PLEASE READ THIS DOCUMENT CAREFULLY BEFORE YOU
BEGIN, SO YOU DO NOT LOSE MARKS.
INSTRUCTIONS TO FOLLOW:
The assignment should be a professional document. Only use A4-size white paper with TYPED
answers on SINGLE-SIDED pages.
Marks:
The assignment is worth 20% of the total mark for the unit. The marks awarded will depend on the
quality of the reasoning exhibited and the ability to express the argument in a concise manner.
Due date:
The assignment must be submitted on or before 10:30am Wednesday, 25th January, 2017.
Late submission – it is TOP policy that assignments cannot be submitted late without prior
approval of the unit coordinator and only in extenuating circumstances supported by
evidence. Assignments submitted late without prior approval will not be graded.
Cover sheet:
Use the cover sheet provided on Moodle System. All relevant details requested on this sheet must be
supplied (in particular, your subject code TECO101 and your tutor’s name). Each student must sign
the statement on the cover sheet to acknowledge that the work submitted is the student’s own work.
YOU WILL NOT RECEIVE YOUR MARK IF
1. your assignment is missing this cover sheet,
2. important information is missing, and
3. you did not sign the acknowledgement on the cover sheet.
HOW TO SUBMIT YOUR ASSIGNMENT
A hardcopy of the WHOLE completed assignment of each question with coversheet must be
submitted to your Lecturer or Tutors.
At the same day by 11:55pm, you MUST submit an electronic copy through TURNITIN on
Moodle for checking plagiarism. Failure to submit it may result in a zero mark for the entire
assessment.
You MUST ensure that all pages are securely and properly fastened with staples (not paper clips!)
and submitted WITHOUT a folder. Do NOT include this document in your assignment when
submitting. You MUST keep a copy of the assignment you submit.
Question 1 (25 marks)
For the pizza seller whose marginal, average variable and average total cost curves are shown
in the diagram,
$/slice MC
ATC
AVC
1.18
0.77
0.68
0.50
260 435
slices/day
What is the profit-maximising level of output and how much profit will this producer earn if
the price of pizza is $1.18 per slice?
Question 2 (25 marks)
Think about the demand for the three popular game consoles: XBox, PS3, and Wii. Using
supply and demand diagrams to illustrate your answers, what is the effect on the demand for
XBox games or the quantity demanded of XBox games (other things remaining the same) as
a result of the following:
a) The price of an XBox falls?
b) The prices of a PS3 and a Wii fall?
c) Programmers who write code for XBox games become more costly to hire?
Question 3 (25 marks)
Kim can produce 40 pies or 400 cakes an hour. Liam can produce 100 pies or 200 cakes an
hour.
a) If Kim and Liam spend 30 minutes of each hour producing pies and 30 minutes producing
cakes, how many pies and cakes does each of them produce?
b) Who has a comparative advantage in producing pies, and in producing cakes?
c) If Kim and Liam specialise and trade, what is the highest price of a pie at which Kim
and Liam would agree to trade pies and cakes? What are the gains from trade?
Question 4 (25 marks)
Suppose that United Airlines and American Airlines are the only air carriers that serve
between New York and Boston. Each currently earns a profit of $6,000 per flight on this
route. If United increases its advertising spending in this market by $1,000 per flight, and
American spends no more on advertising than it does now, United’s profit will rise to $8,000
per flight and American’s will fall to $2,000. If both spend $1,000 more on advertising, each
will earn an economic profit of $5,500 per flight. These payoffs are symmetric, so that if
United spends the same amount on advertising while American increases its spending by
$1,000, United’s economic profit will fall to $2,000 per flight and American’s will rise to
$8,000.
American’s Choices
Raising Spending Leave spending as same
Raising $5500 for United $8000 for United
United Spending $5500 for American $2000 for American
Choice
Leave spending $2000 for United $6000 for United
as same $8000 for American $6000 for American
a) Does each player have a dominant strategy?
b) What are the potential equilibriums?
c) Is this game a prisoner’s dilemma? Explain

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Need Help-Macroeconomics Problems


 Need Help-Macroeconomics Problems

1
Intro Macro                              N. Sheflin
Extra Credit    Do any ONE of the following that appeals to you. Write your report as though addressing a clever friend who knew little economics, and use graphical or algebraic analysis as appropriate.  Your work should be submitted via the ASSIGNMENT tool in Sakai as a WORD ATTACHMENT. It is due by December 16  9pm– no late submissions will be accepted.
DO NOT CHEAT.  Your submission will automatically be checked by TURNITIN for plagiarism and checked against previous semester’s submissions. Be very careful to cite any sources used, use only your own words, not use the work of others without citation.  The extra credit can add as much as 2% to your total points, but unless it is perfect, will likely add less. It will be given a 0-100% grade which sakai will convert into a 0-2% addition to your total points.  There is no penalty for not doing the extra credit. Note that the final exam is a much more important determinant of your grade in the course so do not allow the extra credit to reduce your study time for the final.
TO GET ANY CREDIT, YOU MUST:  INCLUDE and answer THE QUESTIONS I provide (copy and paste any of the following questions right into your report). If you do not include my questions with your answers after each one, you will receive no credit.    NOT QUOTE from the book/article or anywhere else – Answer questions in YOUR OWN WORDS   ANALYZE the material – you will be graded on your analysis, not your ability to summarize the source.   RELATE the reading to what we are studying in this course.  NOT write a book reports – ANSWER THE QUESTIONS  NOT USE OTHERS WORK OR WORDS WITHOUT CITING THEM – don’t plagiarize (don’t copy and paste from Wikipedia, google searches, etc).  Submit a 6-8 ‘typed’, double-spaced document in 11 point font.as a word attachment via Sakai’s ASSIGNMENT tool (not as a pdf)
1. Read Naked Money: A Revealing Look at What it is and Why it Matters, by Charles Wheelan, 2016, W.W. Norton and Company) and select at least one interesting point in each chapter and briefly summarize  and relate it to what we have covered this semester. You must number and highlight each point, and then discuss/explain it.  Ex: chapter 1 Why Gold is not a good money. As discussed in class, ….
2. Read at least sections I, II, III and V of Alan Blinder’s After the Music Stopped (2013) and explain his answers to the three questions he posed in chapter 1:    1. How Did We Ever Get Into Such A Mess,  2. What was Done and Why, and  3. Did We ‘Waste’ The Crisis?
3. Read “John Maynard Keynes Is the Economist the World Needs Now”      http://www.businessweek.com/articles/2014-10-30/why-john-maynard-keyness-theories-can-fix- the-world-economy  and   a. explain WHY we needed  Keynes then/ (financial crisis and great recession) by listing 10 important  points  made in the article and below each explain in terms of the theories and concepts developed in the course. Be sure to include points made about the recent U.S. and European recession as well as the great depression.    i. Ex: 1. Austerity  the article refers to austerity which is … Keynes explains this through the paradox of thrift in which …
b. Do we need Keynes NOW, given the state of the economy in 2016?
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c. Read the Keynes Biographical sketch  http://www.pbs.org/wgbh/commandingheights/shared/minitext/prof_johnmaynardkeynes.html and list and list and  i)  explain 10 interesting economic and biographical items in discusses.  (again, list a point and then discuss it below it).   ii) Was Keynes a socialist?
3.  Read MAESTRO: Greenspan’s Fed and the American Boom by Bob Woodward, 2000, Touchstone Books. This fast-reading book covers Greenspan’s term at the Fed, up to 2001 and explains the economic events and the workings of the Fed in a non-technical way. Of course it is quite dated now, but good intro to how the Fed works and a quick read. Answer each of the following.  a. Select three crises that occurred under Greenspan’s term, summarize the causes, consequences, and role of the Fed in each. b. Why was Greenspan (as Fed Chairman) concerned with such non-Fed issues as: i. the Federal Government Budget Deficit ii. the Bond market iii. the Social Security and Medicaid problems iv. That is, what did these have to do with the Fed? c. In hindsight, what errors did Greenspan make in his term as Chair of the Fed? d. Find 3 interesting personal facts about Greenspan and explain. Also, what is his, somewhat indirect, connection to Rutgers? e. Compare Bernanke’s term with Greenspan’s in terms of challenges and responses (this is not in the book-do some research here) i. What were the major issues of each Chair? ii. What was the basic public persona of each? iii. What was the educational and professional background of each? f. And what about Yellen’s term in comparison so far?
(There is a newer and more comprehensive biography of Greenspan by Mallaby The Man Who Knew but I’m still reading it)
4. Read http://larrysummers.com/2016/02/17/the-age-of-secular-stagnation/ and http://www.economist.com/blogs/graphicdetail/2014/11/secular-stagnation-graphics and  https://www.weforum.org/agenda/2016/01/the-fourth-industrial-revolution-what-it-means-and-how- to-respond/  and  http://time.com/4269733/secular-stagnation-larry-summers/  and answer the following: a. In what ways has the recovery from the recession been surprising? b. What is secular stagnation according to Summers, and what is the ‘core problem’? c. What evidence is there that we face secular stagnation? d. What are some of the alternative explanations of the issues, (liquidity trap, savings glut, etc).? e. What role do interest rates play in secular stagnation f. How does the ‘fourth industrial revolution / new economy” enter into secular stagnation? g. What does Summers’ see as the ‘cure’ h. What are some of the international policy implications of secular stagnation according to Summers? i. What are some political implications?
5. Read Burton Malkiel’s A Random Walk Down Wall Street (2016, W W Norton & Co;). Do the following, based on reading at least chapters 1-10 and 15 with the stress on part II. a. Why is the book titled “A Random Walk …”? b. Why are (some) markets efficient and why do stocks follow a random walk?
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c. Explain why you can’t beat the market, according to Malkiel? d. What are the arguments/ evidence against efficient market theory? In favor? e. What are the implications for your personal investing of efficient markets hypothesis? f. What did the speculative episodes described in chapter 2 have in common? g. Define and defend Fundamental Analysis and explain why it doesn’t work. h. Explain and critique Technical Analysis and explain why it is widely used in light of your critique i. What are the main investment lessons of behavioral economics/finance – list and very briefly explain? j. Find 4 examples from recent news articles dealing with issues raised by Malkiel, cite and comment upon them. (copy and paste the headlines and briefly comment) k. What does Malkiel feel about the bubbles of the 2000s? l. How does Malkiel suggest you invest once you start working?

Need help-Microeconomics Assignment


Need help-Microeconomics Assignment

Question #1

Suppose you spend your daily income ($100) into two goods: foods and other goods (composite goods), and suppose your preference over these two goods are represented by the following utility function: , where α is a constant number.

Let’s denote foods as x1 (horizontal axis) and other composite goods as x2 (vertical axis).

If foods price is $5 per unit,

  1. Find the optimum consumption bundle (for both goods as a function of α) (3 points)
  2. Find the range for α that could result in interior optimum solution for this problem. (2 points)
  3. Give an example number for α that could result in corner optimum solutions and write down the utility function. (1 point)

 

Question #2

In this question you are asked to create a utility function and to find the optimum consumption bundle.

  1. Find an example of two perfect complement goods (please do not use the examples we used in the lectures, quizzes, and exams). Try to find your own unique example. (2 points)
  2. Assign a number to the ratio of the two complement goods (for example, when ratio is 1 for tea and sugar, one pack of sugar is used together with one cup of tea), and also assign numbers to the prices of the two goods. (1 point)
  3. Suppose the total budget to be spent for these two goods is $I. Find the optimum consumption basket. (3 points)
  4. Change price of any of the two goods by 10 percent. To consume the same amount of the two goods as before how the other price must change (assuming no change in the income)? (3 points)

 

 

 

 

 

Question #3

Use the utility function from the following Cobb-Douglas utility functions:

 

  1. Assign numbers for Px and Py and total income. (For example, Px=$5, Py=$1, I=100, etc.) (1 point)
  2. Change (increase or decrease) Px by any amount, and find the substitution and income effects of the price change on the consumption of good X. (4 points)

 

 

Purchase Answers-Principles of Macroeconomics.


Purchase Answers-Principles of Macroeconomics.

Principles of Macroeconomics. DATA EXERCISE #2 INSTRUCTION

 

DUE DATE;

DATA EXERCISE #2

Format of the Project:

The Data Exercise Attachments are limited to a maximum two files in doc, docx., xls. xlsx., or rtf. formats. OTHER FORMATS ARE NOT ACCEPTABLE.

Please note that hand-written and scanned works, pdf. files, jpg. files, as well as files posted in google drive, will not be accepted .

The paper should be written in APA style Research Paper format.

Please note that Use of APA Citation Methodology is required for all parts of the assignment

 

Data exercise #2 Consists of three parts

 

Part 1: The Unemployment Rate (weight 30% of the assignment grade)

Complete the following exercise

Visit the Bureau of Labor Statistics Web Site,

www.bls.gov/news.release/empsit.toc.htm . Select Employment Situation Summary.

Write a report (1-2 pages double – spaced) to answer the questions:

  1. What month (and year) is summarized? What was the unemployment rate for that month? How does that rate compare with the rate in the previous month?
  2. What were the unemployment rates for adult women, teenagers, blacks, Hispanics, and whites? How did these rates compare with those a month earlier?
  3. What factors make it difficult to determine the unemployment rate?
  4. Why is unemployment an economic problem?
  5. What are the non-economic effects of unemployment?
  6. Who loses from unemployment?

 

Part 2: The Inflation Rate (weight 30% of the assignment grade)

Complete the following exercise:

Visit the Bureau of Labor Statistics Web Site,

www.bls.gov/news.release/cpi.toc.htm . Select Consumer Price Index Summary.

Write a report (1-2 pages double – spaced) to answer the questions:

  1. What month (and year) is summarized? What was CPI-U for that month?
  2. What was the rate of inflation (percentage change in the CPI-U) for the month? How does that rate of inflation compare with the rate in the previous month?
  3. Which two categories of goods or services had the greatest price increase for the month?
  4. Which two categories of goods or services had the lowest price increase (or greatest price decrease) for the month?
  5. Who loses from inflation?
  6. Who benefits from inflation?

 

Part 3: Unemployment Data by Labor Force Groups and Duration (40% of the project grade)

Go to https://www.whitehouse.gov/administration/eop/cea/economic-report-of-the-President/2016

– the home page of the Economic Report of the President.

Scroll down and Click on the link download as pdf.

This link is located below Appendix B: Statistical Tables Relating to Income, Employment, and Production.

  1. Find unemployment data (Table B–12.—Civilian unemployment rate) for the following four years 1995, 2000, 2005, and the last available year. Use four labor force groups: males, and females, in each case 16 to 19 years of age, versus 20 years of age or over. Present the result in your project as a table.
  2. Use the Economic Report of the President (Table B–13.—Unemployment by duration and reason) to find data on the duration of unemployment in 1995, 2000, 2005, and the last available year. Present the result in your project as a table.

Write a report (1-2 pages double-spaced) about the results you received.

 In this paper consider, but do not be limited to the following:

  • Compare the distribution of unemployment by duration over these years. What relationship, if any, do you find?
  • Starting in the early 1990s many U.S. firms downsized their operations. In your opinion, how did this affect the duration of unemployment?
  • Demographic studies show that the proportion of teenagers and minorities in the U.S. population is likely to increase in the near future. In your opinion, what implications, if any, will this trend have on the unemployment rate?

 

 

WRITING GUIDELINE for the Data Exercise #2

 

DATA EXERCISE #2                                                   

Part 1: The Unemployment Rate.

Must be thorough in development and articulation in presenting and analyzing the data in the unemployment rate.

Part 2: The Inflation Rate.

Must be thorough in development and articulation in presenting and analyzing the data in for the inflation rate.

Part 3: Unemployment Data by Labor Force Groups and Duration. Must be very thorough in development and articulation in presenting and analyzing the data Unemployment Data by Labor Force Groups and Duration

 

Purchase Answers-Principles of Macroeconomics.

Help-Economics Questions


Help-Economics Questions

Suppose we have an economy with three individuals, each with the following utility functions and budget constraints:

Person 1: u(X1, X2) = X10.25 * X20.75 subject to 4X1 + 2X2 = 50

Person 2: u(X1, X2) = X10.5 * X20.5 subject to 4X1 + 2X2 = 75

Person 3: u(X1, X2) = X10.75 * X20.25 subject to 4X1 + 2X2 = 100

  1. For each individual, graphically depict the utility maximizing allocation of X1 and X2.
  2. What is the total social welfare in this economy using a Utilitarian social welfare function?

Who is the worst-off person in this society?

  1. Suppose the government wants to increase social welfare and taxes the most well-off person $25 and redistributes that income to the worst-off person.
  2. Depict how the utility maximizing decision changes for each person in the economy under this scenario.
  3. Discuss the relative magnitudes of the income and/or substitution effects due to the policy.

iii. How has social welfare changed as a result of the policy?

Help-Economics Questions

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