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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. Nonlinear relationships and Elasticities Depicting 2dimensional relationships 1. Depicting the association between pairs of variables using a Cartesian Plane. 2. Depicting Bivariate (2variable) 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 straightline 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.
 Spring '08
 Hayes

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