Intermediate Microeconomic Analysis Spring 2015 OKADA Rutgers University
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Econ 393
Assignment 1
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Expected Value, Variance and Standard deviation
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SP500 & XOM (Sep 16,2013 Sep 14,2014)
(30 pt)
1. Download the last year daily close prices for SP500 index from yahoo finance
a. http:/finance.yahoo.com/q?s=%5EGSPC
2. Download th
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0 hours, 44 minutes, and 49 seconds out of 1 hours and 0 minut
Question 1
Multiple Choice
2 of 2 points
According to the rule of 72, if the interest rate is 10 percent, about how long will it take for the value of a savi
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Question: Steve has 16 hours to divide between producing Good X or Good Y. He cannot produce both
goods at the same time. If he spent 8X hours producing Good X and y(=
(all, La
QUIZ #8 01:220:320:04 Spring 2015 ' l t)
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Question (20 pts.): A rm has chosen the oor area of its factory to be a (thousands of square feet). In
the short run the rm is stuck With this cho
QUIZ #9 01:220:320:04 Spring 2015
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Question (20 pts.): Amusement, Corp. operates Bemusement Park in Chuckletown and its the only
amusement park in the town. Through market research it concluded that
Math Tools for Intermediate Microeconomics
Functions of Several (Mainly Two) Variables
( x1 , x2 , , xn )
y = f ( x1 , x2 , , xn )
f
Value of a function f (evaluated) at
Variables (or argument) of a function f
=
Example: f ( x1 , x2 )
x1
x2
( x1 , x2 , ,
(Instructor: Dean Jens)
Name
Econ 322
Final Exam, Fall 2012
Questions may not be in order of diculty; in multiple part questions, later parts will not
always depend on earlier parts. It may, therefore, be useful to skip around.
1. On page 4 are two dieren
(Instructor: Dean Jens)
Name
Econ 322
Midterm 1, Fall 2013
Questions may not be in order of diculty; in multiple part questions, later parts will not
always depend on earlier parts. It may, therefore, be useful to skip around.
1. For all parts of this pro
(Instructor: Dean Jens)
Name
Econ 322
Midterm 1
1. What is the cumulative density function (CDF) of a random variable? What characteristics
should it posess?
The cumulative density function of a random variable X is the
function cdf(x) = P (X x). It alway
(Instructor: Dean Jens)
Econ 322
Name
Midterm 2, Fall 2013
1. On page 6 is yet another regression trying to describe log(wage) with education and experience. The sample mean of education is 13.5, the sample mean of experience is 11.6, and the
sample mean
2.2 In the equation y = 0 + 1 x + u, add and subtract 0 from the right hand side to get y = (0 + 0 ) +
1 x + (u 0 ). Call the new error e = u 0 , so that E(e) = 0. The new intercept is 0 + 0 , but
the slope is still 1 .
2.5
i The intercept implies that wh
(Instructor: Dean Jens)
Name
Econ 322
Quiz 1
Using the wage2 data from Wooldridge to t a simple linear regression of monthly earnings on
IQ, we obtain
earnings = 117.0 + 8.303 IQ
(84.8) (0.857)
1. What is the predicted wage for an individual with an IQ of
- 2 i (
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QUIZ #6 01:220:320:04 Spring 2015 Q?
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Question: Steve and Frank are brothers attending the same college and living in the same frat house. On the
first day of each month, each of them rec
Quiz 5 01:220:320:04 Spring 2015
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Question 1 (10 pts.) Toms utility level when he has a wealth of SW is u(W) = ln(1 + W). Tom has
$4.00. Consider a lottery where Tom will lose $3.00 with probabil
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Quiz 4 01:220:320:04 Spring 2015
Intermediate Microeconomic Analysis Spring 2015 OKADA Rutgers University
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ANSWER ONLY ONE OF THE TWO QUESTIONS
Q1. Toms indirect utility function is u(x, y) = X)!
Microeconomics with Calculus: Tutorial #1
Calculus and Economics
Daniel S. Christiansen
ALBION COLLEGE
christiansen@albion.edu
August 14, 2002
Instructions for Viewing
View Full Screen
Table of Contents
Begin tutorial
c Copyright 19992002 Daniel S. Christ
Intermediate Micro: Quiz 01
Solution
(a) Consumers choice (x,y) must be on the budget line:
P x X + Py Y = I
(1)
Additional utility per $1 spent on either good must be the same:
M Ux
Px
=
M Uy
Py
(2)
(b) M Ux = X 2 and M Uy = Y 2 Then, solve
P x X + Py Y
Intermediate Microeconomic Analysis Spring 2015 OKADA Rutgers University
Quiz 3 01:220:320:04 Spring 2015
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Toms indirect utility function is
1
4 3
, , =
.
3
2
(a) [10 pts.] Use Roys identity to find Toms uncompensated
Question. Toms utility level when he has a wealth of $W is () = 1 /2 .
Tom has $4.00. Consider a lottery where Tom will lose $3.00 with probability 0.55 or he will win $4.00
with probability 0.45.
(a) If Tom played this lottery what is the expected value
Quiz 6 Prep Problems
Question with Solution: Steve and Frank are brothers attending the same college and living in the same
frat house. On the first day of each month, each of them receives a package from their parents
containing home-made beef jerky and
Prep Questions for Quiz #7
01:220:320:04
Question 1 (with Solution) Steve has 16 hours to divide between producing Good X or Good Y. He cannot produce both
goods at the same time. If he spent hours on producing Good X and (= 16 ) hours on producing Good Y
Prep Question for Quiz #8
01:220:320:04
Q.1 A firms short run cost function is given by () = , + + . . Find the firms
short run supply function and draw it.
Answer: () = 4000 80 + 0.6 and () = 4000 40 + . 2 . To get the shutdown price,
solve is () = (). T
Prep Questions for Quiz #12
01:220:320:11/13
Q.1 (w/ Solutions) Amusement, Corp. operates Bemusement Park in Chuckletown and its the only amusement park in
the town. Through market research it concluded that there are two types of consumers, Type 1 with t
Intermediate Microeconomic Analysis Spring 2015 OKADA Rutgers University
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A consumers preference is represented by the utility function '
1 1
HOMO = ;-
(a) (5 pts) Write down two equat
Intermediate Microeconomic Analysis - Spring 2015 OKADA Rutgers University
Qulz 3 01:220:320:04 Spring 2015
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Last Name:JLbL_, First Name:
Toms indirect utility function is
l
3
V(px,py,l) =( 4 >
pm},
(a) [10 pts.] Use Roys identity to nd To
(Instructor: Dean Jens)
Name
Econ 322
Quiz 6
The following is the result of a linear regression of log(wage) against experience, the square of
experience, and the log of starting wage for engineers in Thailand:
Dependent Variable: LWAGE
Method: Least Squa
(Instructor: Dean Jens)
Name
Econ 322
Quiz 4
From elem94 95, the following regressions are performed with pass as the percentage of students in each school district that passed the fourth grade math test,1 exppp is the logarithm of
expenditure per student
EDUCATION ECON FEB 17
Often the first person to make a theory has it put a lot broader than modern writers make it out
to be.
Schultz: Broad idea (broader than later economists) of the quality of education.
Acquisition of ALL useful skills and knowledge
Education Economics 01:220:338:01
THERE IS NO TEXT TO PURCHASE FOR THIS CLASS
ALL READINGS WILL BE AVAILABLE ONLINE THROUGH SAKAI
GRADES WILL BE BASED ON TWO IN-CLASS EXAMS DURING THE TERM PLUS THE FINAL
Exam Dates Spring 2016
Exam 1, Class #13, Wednesday
Sources of Benefits to Higher Education
Benefits of a college education vs. a high school education
1. Difference in entry-level wages.
Expected
Earnings
$22,718
$60,730
2. Difference in the growth rates of wages over the
course of a career.
3. Difference
3/17/2016
Conditional Mean
We all know what a mean or average is.
Overview of Regression Analysis
We are also often interested in how this mean differs by other individual
characteristics.
Conditional Means
E.g. How do the mean earnings differ between bla