{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Lecture 3 Jan 26

# Lecture 3 Jan 26 - Announcements HW1 due tonight at...

This preview shows pages 1–12. Sign up to view the full content.

Announcements HW1 due tonight at 11:45pm—sign up for Aplia if you have not! In Aplia, only the assignments marked “graded” are graded. The readings are there just to let you know where we are in the book (also, some of the questions refer to the book – look at the online chapters if you need to). 1 of 36

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
Article Alert! Good examples of “unintended consequences” (remember “ignoring secondary effects”?) in NY Times article I put under “course documents” on Blackboard By the authors of “Freakonomics” – a book worth checking out.
Appendix A graph is a two-dimensional representation of a set of numbers, or data. 3 of 36 HOW TO READ AND UNDERSTAND GRAPHS

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
Appendix A time series graph shows how a single variable changes over time. 4 of 36 TIME SERIES GRAPH Disposable Personal Income in the United States: 1975–2005 (in billions of dollars)
Appendix The Cartesian coordinate system is the most common method of graphing two variables. This system is constructed by simply drawing two perpendicular lines: a horizontal line, or X-axis , and a vertical line, or Y- axis . The axes contain measurement scales that intersect at 0 (zero). This point is called the origin . 5 of 36 GRAPHING TWO VARIABLES ON A CARTESIAN COORDINATE SYSTEM A Cartesian Coordinate System

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
Appendix 6 of 36 The slope of the line indicates whether the relationship between the variables is positive or negative. The slope of the line is computed as follows: Y X Y Y X X = - - 2 1 2 1
Appendix 7 of 36 A downward- sloping line describes a negative relationship between X and Y. An upward- sloping line describes a positive relationship between X and Y. A Curve with (a) Positive Slope and (b) Negative Slope

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
Slope 8 of 36 (1,3) (3,2) Slope = (2-3)/(3-1)= -1/2 Y X
Appendix 9 of 36 Changing Slopes Along Curves

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
A Puzzle Ice cream stores like to have occasional “free ice-cream” days. They’ve noticed that more people show up for free ice-cream in poor neighborhoods than in rich neighborhoods. Does this mean that rich people like ice- cream less?
More on Opportunity Costs: Comparative and absolute advantage: Absolute advantage: To be “absolutely” better at something.

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### Page1 / 29

Lecture 3 Jan 26 - Announcements HW1 due tonight at...

This preview shows document pages 1 - 12. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online