recap-ho - Course Recap Today Evaluations A few nal(exam...

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Course Recap March 11, 2010
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Today Evaluations A few final (exam) words Course recap
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Final exam details Three levels of question difficulty Almost everyone should get Many people will get Only a few people will get Format: 15 Mult-choice; 2-3 free-response Review Session: Friday 3/12 (tomorrow), 2-4pm here Extra OH: Sunday 3/14, 4-6pm, NH 1006
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Econ 100a/b: Intermediate Microeconomic Theory What is this course sequence about? 100a: rational choice under scarcity Utility maximization, deriving demand from preferences Profit maximization, deriving supply from costs Applying framework to labor supply, choice over time, uncertainty 100b: Markets: behavior and welfare
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Regulation: Good or Bad? Should government regulate economic activity? Politicians love to talk about this: “I’m always for less regulation.” –John McCain ( WSJ , March 3, 2008) “. . . I do believe that there is a role for oversight.” –John McCain (same interview) “A lot of the problems that are going on in our country now appear to have been related to lax regulation.” –Texas State Senator Steve Ogden (March 21, 2009) Ogden is a Republican This is an economic question
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Course Objectives Understand basic theoretical framework we use to think about
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