ECON 106 UCLA

Winter 2005 Prof. Cai Econ 106G: Midterm Exam 10:20-11:50 Friday, February 11, 2005 The midterm exam consists of THREE questions, with total points of 100. Q1 and Q2 account for 30 points each, and Q3 accounts for 40 points. You have one and half h

4 The Phillips Curve and the Time-Consistency Problem In 1958, the economist A. W. Phillips published a paper that documented an inverse relationship between money wage changes (i.e., wage ination) and unemployment in the British economy over the per

2 Money Demand This section is concerned with the determination of money demand. In the quantity theory, we assumed that velocity V is a xed number. In the data, this assumption is not generally satised; in particular, velocity appears to vary system

Econ106G Lecture Note 1 Hong Feng Jun 24, 2008 1 Class Games 1. Second-Price Auction There are six envelopes, with one check in each. The amounts of the checks are 1, 2, 4, 8, 16 and 32 dollars. You will bid on a chance to randomly choose one of th

Econ106G Lecture Note 8 Hong Feng July 22, 2008 1 Punishment Game We have seen that in the prisoner dilemma game, (Def ect; Def ect) is the s only (dominant strategy) Nash equilibrium, although (Cooperate; Cooperate) is a better outcome in terms o

Econ106G Lecture Note 9 Hong Feng July 24, 2008 1 Incomplete Information and Bayesian Nash Equilibrium A key assumption in most of the games we have discussed so far was that each player knows the whole structure of the game, i.e. they know their

Econ106G Lecture Note 3 Hong Feng Jul 1, 2008 1 Nash Equilibrium Example 1 Push or Pull (Coordination Game) 2 1 Push Pull Push 1; 1 1; 1 Pull 1; 1 1; 1 In this game there is no dominant or dominated strategies, so we can not apply IEDS. Player 1

2 Money Demand This section is concerned with the determination of money demand. In the quantity theory, we assumed that velocity V is a xed number. In the data, this assumption is not generally satised; in particular, velocity appears to vary system