Econ 300_Summer 2009_Slides 0 - Math-Review[1]

Econ 300_Summer - Outline 1 Graphs and Equations 2 Depicting and Solving Systems of Equations 3 Levels Changes and Percentage Change 4 Non-linear

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Unformatted text preview: Outline 1. Graphs and Equations 2. Depicting and Solving Systems of Equations 3. Levels, Changes and Percentage Change 4. Non-linear relationships and Elasticities Depicting 2-dimensional relationships 1. Depicting the association between pairs of variables using a Cartesian Plane. 2. Depicting Bivariate (2-variable) functions. 1 1 3 4 2 8 5 6 7 2 3 4 5 6 7 8 The Cartesian Plane y x 1 1 3 4 2 8 5 6 7 2 3 4 5 6 7 8 (1,1) (2,6) (5,5) (7,2) Points in a Cartesian Plane Equation for a straight-line function y = mx + b Dependent Variable Independent Variable Slope Intercept Examples: Slope Intercept y = x 1 y = 3 + 0.25 x 0.25 3 y = 6 – 2 x- 2 6 1 1 3 4 2 8 5 6 7 2 3 4 5 6 7 8 “run” ( = 2) “rise” ( = 1) Slope = rise / run (In this case = 1/2) 1 1 3 4 2 8 5 6 7 2 3 4 5 6 7 8 y x Plotting the Function y = x 1 1 3 4 2 8 5 6 7 2 3 4 5 6 7 8 Plotting the Function y = 2x 1 1 3 4 2 8 5 6 7 2 3 4 5 6 7 8 y x Plotting the Function y = 3+0.25x 1 1 3 4 2 8 5 6 7 2 3 4 5 6 7 8 Plotting the Function y = 6 - 2x 1 1 3 4 2 8 5 6 7 2 3 4 5 6 7 8 Shifting Lines: Changing the Intercept y = 8 – 2x y = 6 – 2x y = 4 – 2x Solving Systems of Equations...
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This note was uploaded on 11/14/2010 for the course ECON Econ 326 taught by Professor Hayes during the Spring '08 term at University of Maryland Baltimore.

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Econ 300_Summer - Outline 1 Graphs and Equations 2 Depicting and Solving Systems of Equations 3 Levels Changes and Percentage Change 4 Non-linear

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