Study Guide for Midterm 2016 - Study Guide for Midterm Spring 2016 Exam format Exam format will be similar to the mid-term posted on bCourses There will

Study Guide for Midterm 2016 - Study Guide for Midterm...

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Study Guide for Midterm Spring 2016 Exam format Exam format will be similar to the mid-term posted on bCourses. There will be some short answer conceptual questions, some more quantitative problems, and a longer question to test your intuitive understanding of concepts/models covered in class. What will be covered on the midterm exam? In some cases, your lecture notes cover topics in more detail than the readings. In other cases, the reverse is true. Please use your lecture notes as a guide for your exam preparation. Topics, applications, examples emphasized in lecture are much more likely to appear on the exam. In what follows, I list the key topics and readings that will be covered by the exam: 1. Introduction/review of the basics KO Chapters 1 & 2 (not required; good background) Reader: Kolstad chapter 4
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Unformatted text preview: lecture notes 2. Economics of production: Reader: Varian Chapter 21, 22 Lecture notes. 3. Factor markets, deriving demand for inputs to production Reader: Pindyck and Rubinfeld chapter 14 Lecture notes 4. When do markets fail? Market power, externalities, public goods. KO Chapter 5 Reader: Perloff chapter 4 Lecture notes and supplementary notes on bCourses 5. Models of imperfect competition and market power: Cournot and Bertrand oligopoly, dominant firm and competitive fringe models. Reader: Perloff chapter 6 Wolfram paper analyzing electricity restructuring in the UK (posted on bCourses) Lecture notes on bCourses 6. Intertemporal decision making: Discounting models and associated anomalies. Reader: BGVW Chapter 6. Lecture notes and supplementary notes on bCourses...
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