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midterm_fall07

midterm_fall07 - ECO 120 Midterm November 2 2007 Professor...

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ECO 120 Midterm November 2, 2007 Professor Jon Robinson This exam is scheduled to last 70 minutes. There are 60 points on the exam. The points correspond to the number of minutes that each question is designed to take, so the exam is designed to give you 10 minutes to check your answers at the end. If you have trouble answering a question, move on to the next one and come back to the question later on. The exam has 19 pages. Please make sure that you have all the pages. Do not open the exam until you are instructed to do so. If you like, you may take up to an additional 5 minutes to °nish the exam. For each minute past 3:10, however, 3 points will be deducted from your score. Calculators are allowed. Name: ____________________________________________ Points (to be °lled in by grader): Minutes late (-3 per minute): __________ Problem 1 (out of 10 points): __________ Problem 2 (out of 30 points): __________ Problem 3 (out of 20 points): __________ 1
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1. Short answer questions: (a) (5 points) This question is about Esther Du±o²s paper on school construction in In- donesia (entitled "Schooling and Labor Market Consequences of School Construction in Indonesia: Evidence from an Unusual Policy Experiment"). The Indonesian gov- ernment built 61,807 schools in Indonesia in the 1970s. How did the government choose which districts would receive schools? Given this fact, did the average stu- dent in a district in which many schools were built (a "high-intensity" district) have more or less education than the average student in a district in which few schools were built (a "low-intensity" district), after the program? How did Du±o evaluate the impact of the program? 2
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(b) (5 points) Cite speci°c results from Chris Udry²s study of farmers in Northern Nigeria (the title of which is "Credit Markets in Northern Nigeria: Credit as Insurance in a Rural Economy") that show that credit and insurance are closely interlinked in developing countries. 3
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2. Consider a village of a large number of identical farmers. All farmers own and work their own land. They can choose how much e/ort to apply to their land. If they don²t work hard, the probability of success is P DW . If they work hard, the probability that their crop
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