11F_Mid2_Info - – per(effective)worker production...

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Midterm 2 Information Friday Nov 4/11, in class Material: Whatever we have covered in class, previous sessions, assignment 2, quiz 2, and readings up to the end of Chapter 8. Regarding the material in the text, concentrate on the material that I have stressed in the lectures. Format: This is a closed-book exam and out of a total of 40. You have 50 minutes. There are two sections. Section 1 (20 marks) Answer 20 multiple-choice questions. (All questions are fair game.) Section 2 (20 marks) Answer BOTH of the 2 following questions in your exam paper. Solve the problems like in the assignment. (i) Small open economy analysis – national account identity, trade balance, net capital outflow and capital mobility; nominal / real exchange rate, purchasing power parity; loanable funds market analysis, and foreign exchange market analysis. (ii) Closed economy Solow model analysis
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Unformatted text preview: – per-(effective-)worker production function, SS condition, SS per-(effective-) -worker capital stock and output; Golden Rule capital stock condition and Golden Rule per-(effective-)worker capital stock, and Golden Rule saving rat; balanced growth path and conditional convergence. Show how you derive your answers for full marks. Calculator. Any calculator that does not contain memory for notes. Student ID will be required. You will not be given the test without a photo ID. Office hours: Tuesday & Wednesday 1:30-2:30pm Fan’s Office hours: Thursday 1:30-2:30pm (BEC318) Please drop by and introduce yourself and ask a question. You can pick up your marked assignments (for the early submissions) from Fan in her office hour. Also, please take up issues regarding marks on the assignment first with her....
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