Intermediate Microeconomics: Market
Failure
February 21, 2013
Introduction
So far we have taken for granted that private benets and costs
are aligned with societies benets and costs.
This is not the c
Problem Set 1 Intermediate Microeconomics 73-230
Due: 20th of February.
1
In this question you are to compare two regimes for educational choice. A household can
purchase a composite good or higher le
73-240 Fall 2014
73-240 Problem set 2 Answer Key
Problem 1 (30 points): The US household
In this problem you will study the representative household. Suppose that the utility function
is given by
1
U
Quiz 2
Intermediate Microeconomics 73-150
Problem 1
If the consumers budget constraint is given by 10F + 5S = 100 where F is food and S is shelter,
how much food can she buy if she purchases 2 units o
Intermediate Macroeconomics - 73240
September 26, 2014
Sample Midterm
Name:
User Name:
1
73-240 Fall 2014
Short Questions
Before you begin, check that you have all the pages and write your name! Good
Recitation 1
Practice Problems
Quick Recap
GDP is the market value of all final goods and services produced
in the economy in a given period.
GDP product approach,
Y =
X
V Ax
xX
GDP expenditure approa
MACROECONOMICS
73-240
Lecture 4
Shu Lin Wee
This version: September 12, 2016
A puzzle in the data
Average wage growth has been sluggish, about 0.12% in Aug 2016
compared to Jul 2016
Average hourly ear
MACROECONOMICS
73-240
Lecture 5
Shu Lin Wee
This version: September 14, 2016
Plan for This Lecture
1) Finish up talking about the Household
2) The Firm
The representative firm
The production function
MACROECONOMICS
73-240
Lecture 2
Shu Lin Wee
This version: August 31, 2016
Reminder
Friday Sep 2: Make-up Lecture instead of Recitation
Wed Sep 7: No class
Friday Sep 9: Recitation, HW 1 due.
Recent Ec
MACROECONOMICS
73-240
Lecture 3
Shu Lin Wee
This version: September 2, 2016
Whither inflation?
PCE price index (implicit price deflator for consumption
expenditures): no change in July from Junes read
MACROECONOMICS
73-240
Lecture 1
Shu Lin Wee
This version: August 29, 2016
Intermediate Macroeconomics
Preliminaries
What is expected
What to expect
The syllabus
Make sure to get and read the syllabus
73-240, Fall 2014: Notes for recitation 4
TA: Ben Tengelsen
Problem 1 (20000 points) Measuring GDP
Use your knowledge of GDP accounting to calculate the GDP of the simple economy below via the product
MACROECONOMICS
73-240
Lecture 8
Shu Lin Wee
This version: September 21, 2014
Plan for this Lecture
Unemployment
U.S. Labor Markets
Adding Unemployment to Our Model
The Concept of a Steady State
Unempl
73-240 Fall 2016
73-240 Problem set 1
Due Friday Sep. 9th
From the Syllabus:
1. Homework must be turned in on the day it is due (usually on a Friday) in the undergraduate program office in Tepper 139
73-240 Fall 2016
73-240 Problem set 2
Due Friday Sep. 16th
From the Syllabus:
1. Homework must be turned in on the day it is due (usually on a Friday) in the undergraduate program office in Tepper 139
73-240 Fall 2016
73-240 Problem set 1, Answer Key
Due Friday Sep. 9th
Problem 1: Getting Started, Using Logarithms
When calculating GDP growth rates, economists like to use the dierence in the natural
73-240 Fall 2016
73-240 Problem set 3
Due Friday Sep. 23rd
From the Syllabus:
1. Homework must be turned in on the day it is due (usually on a Friday) in the undergraduate program office in Tepper 139
MACROECONOMICS
73-240
Lecture 8
Shu Lin Wee
This version: September 26, 2016
Slide 1 of 48
Plan for This Lecture
1) How good are competitive equilibrium outcomes?
Pareto optimum
Welfare Theorems
Sli
73-240 Fall 2015
73-240 Problem set 8
Due Friday Dec 4th at 430pm
Problem 1: The Diamond Dybvig Model
Consider the Diamond-Dybvig model discussed in class. There are three periods: 0, 1, and
2. The ec
73-240 Fall 2015
73-240 Problem set 5
Due Friday Oct. 23rd
Problem 1: Growth Projections (4 pts)
For this question, we want to project where the US economy will be in the future and how
it will compar
Intermediate Macroeconomics - 73240
October 2, 2015
Practice MIDTERM
Name:
User Name:
1. This exams contains 7 pages.
2. The final answer must be written in the space provided.
3. The exam lasts 50 mi
73-240 Fall 2015
73-240 Problem set 1, Answer Key
Due Friday Sep. 11th
Problem 1: Getting Started, Using Logarithms (5 pts)
When calculating GDP growth rates, economists like to use the dierence in th
Intermediate Macroeconomics - 73240
October 5, 2016
MIDTERM I
Name:
User Name:
1. This exams contains 14 pages.
2. The final answer must be written in the space provided.
3. The exam lasts 80 minutes.
73-240 Fall 2016
73-240 Problem set 4
Due Friday Oct. 14th
From the Syllabus:
1. Homework must be turned in on the day it is due (usually on a Friday) in the undergraduate program office in Tepper 139
MACROECONOMICS
73-240
Lecture 11
Shu Lin Wee
This version: October 12, 2016
Plan for this Lecture
1
Finish up Search Model of Unemployment
2
Growth: Facts from the Long-Run
Recap
Assumptions
1 period
MACROECONOMICS
73-240
Lecture 9
Shu Lin Wee
This version: September 28, 2016
Plan for this Lecture
Externalities
Unemployment
U.S. Labor Markets
Adding Unemployment to Our Model
The Concept of a Stead
MACROECONOMICS
73-240
Lecture 12
Shu Lin Wee
This version: October 17, 2016
Plan for this Lecture
1
Growth: Overview of the Theory
Growth: Overview of the Theory
Growth over time
Goal: can we account
MACROECONOMICS
73-240
Lecture 10
Shu Lin Wee
This version: October 10, 2016
Plan for this Lecture
Unemployment Contd
adding the firm
The Concept of a Steady State
Unemployment (recap)
Recap
Looked at
73-240, Fall 2014: Notes for recitation 2
TA: Ben Tengelsen
1
Consumer Maximization Problem
1.1
Prices and Marginal Utilities
We are interested in solving the following kinds of problems
max U (c, ) s
73-240 Fall 2014
Handout
1
Households Problem
In class, we make a few assumptions about the household. Firstly, we assume that the
households objective is to maximize his utility. Secondly, we assume