Review Sheet for Second Midterm – ECON300 – Spring 2008
As was the case for the first midterm, the upcoming exam will pose questions on:
•
terminology and notation
•
why economists use math
•
calculations typically applied by economists to solve economic problems
We recommend that you prepare for the exam by completing two different types of tasks, described
below as A and B.
A.
Work through the concepts listed below and make sure for each term you can recognize and apply:
•
the definition in words (in some cases what we have called “intuitive meaning”),
•
any corresponding mathematical expression, formula, or graph
•
the relevance to economic analysis
Some of the concepts listed are mathematical terms which can be applied to economics, and some are
economic terms that have a mathematical formulation; either way, you should understand the linkage
between math and economics demonstrated by each concept.
Some examples of these types of
questions are provided to help you anticipate the way a concept leads to a question.
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 Spring '08
 cramton
 Calculus, Derivative, economic problems, versus elastic versus, List of Key Concepts and Terminology, versus crossprice elasticity

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