ECON 102
Tutorial Week 2
David Rietzke
1. Mike is currently taxi driver in Manchester. Each hour that Mike operates his
taxi costs him 5 in petrol. The total revenue that Mike expects to bring in
from operating his cab for h hours is given in the

ECON330: Econometrics
David Kang
Fall 2016
Week 3 - Heteroskedasticity & Dependence
David Kang (Lancaster University)
Econometrics (ECON330)
1 / 35
1
Introduction
2
Consequences of heteroskedasticity
3
with heteroskedasticity
Var()
4
Detecting heterosked

ECON330: Econometrics
David Kang
Fall 2016
Week 0 Introduction
David Kang (Lancaster University)
Econometrics (ECON330)
1 / 33
Syllabus
This is an introductory econometrics course which
assumes no prior knowledge on econometrics;
focuses on both theoretic

ECON330: Econometrics
David Kang
Fall 2016
Week 1 Simple Regression
David Kang (Lancaster University)
Econometrics (ECON330)
1 / 73
Part I
Definition and interpretation of
regression
David Kang (Lancaster University)
Econometrics (ECON330)
2 / 73
1
Motiva

ECON330: Econometrics
David Kang
Fall 2016
Week 2 - Multiple Regression
David Kang (Lancaster University)
Econometrics (ECON330)
1 / 52
Section 1
Regression and Causality
David Kang (Lancaster University)
Econometrics (ECON330)
2 / 52
Regression and Causa

ECON330: Econometrics
David Kang
Fall 2016
Week 3 - Instrumental Variables (IV) Estimation and
Two Stage Least Squares (2SLS)
David Kang (Lancaster University)
Econometrics (ECON330)
1 / 78
1
Motivation
2
Instrumental Variables (IV)
3
Properties of IV est

Week13IntroductiontoMacroeconomics(Chapters16and17)
1.Intheyearsto2050theJapanesepopulationisexpectedtodecline,whilethefractionofthe
populationthatisretiredisexpectedtoincreasesharply.Whataretheimplicationsofthese
population changes for total output and a

Week 18 - Money Markets - (Chapter 23)
1.Suppose a household spends 1,680 evenly over the week. What is the households
demand for money as measured by its average money holding per day?
2. Draw a diagram to illustrate what might happen to the demand for m

Week 19 - IS-LM Model (Chapter 24)
1. Assume that c = 0.75,
A
= 2,000 and f = 500. Draw a graph plotting the IS curve going
through points at which i = 0.01 and i = 0.10.
2. Using the data in Problem 1 draw a graph showing how the IS curve would shift if

Week 20 Fiscal and Monetary Policy (Chapters 25 and 26)
Problems 1 to 4 use the following equation for the IS curve:
1
Y
[ A (a b)i ]
1
c
And assume that
A
= 1,040, a + b = 1,000 and c = 0.75, and the rate of interest is constant
at i = 0.04.
1. Find t

Week 15 Economic Growth (Chapter 20)
1. Data for Canada, Germany and Japan on the ratio of employment to population in 1979
and 2003 are as in the table below. Using data from Table 20.1, find average labour
productivity for each country in 1979 and in 20

Week 13 Introduction to Macroeconomics (Chapters 16 and 17)
1. In the years to 2050 the Japanese population is expected to decline, while the fraction of
the population that is retired is expected to increase sharply. What are the implications of
these po

Week 16 Capital Markets (Chapter 21)
1. a. Corey has a mountain bike worth 300, a credit card debt of 150, 200 in cash, a
Paul McCartney autograph worth 400, 1,200 in a bank account and an electricity bill
due for 250. Construct Coreys balance sheet and c

MOBLAB GAME TODAY
PLEASE LOG IN NOW
Econ 102 Class Code: sjurh74u
S
ECON 102: Week 1
INTRO DU C TIO N TO THE CO U RSE
TH I NK I NG L I K E AN ECO NO MI ST: C H APTER 1
MARK ETS, SU PPLY AND DEMAND: C HAPTER 3
Introduction to ECON 102
This course is divid

Econ 102: Week 2
MARK ETS, SU PPLY AND DEMAND: C HAPTER 3
ELASTIC ITY: C HAPTER 3
EF F IC IENC Y AND EXC HANGE: C HAPTERS 3, 6
Last Week
Thinking like an economist: some basic economic principles (Ch. 1)
Economics and scarcity
Cost-benefit principle
Oppor

Econ 102
Tutorial Week 5
David Rietzke
Required Questions
1. Marthas current marginal utility from consuming orange juice is 75 utils per
centilitre and her marginal utility from consuming coffee is 50 utils per
centilitre. If orange juice costs

Econ 102
Tutorial Week 3
David Rietzke
Required Questions
1. Dimethylpolysiloxane is a chemical used in the U.S. to produce various items
sold by fast food restaurants, like McDonalds. Graphically illustrate and
explain what would happen in

Econ 102
Tutorial Week 4
David Rietzke
1. For the consumption bundle (x1, x2), Tims marginal rate of substitution
between goods 1 and 2 is given by:
$,& =
2&
3$
Consider the three particular bundles: A = (3, 1); B = (6, 2); C = (4, 4)

Lecture 1 A refresher
In this lecture I wish to refresh your knowledge of three topics which are often
encountered in providing solutions or insight into the solutions of economic models.
The first of these is how to manipulate fractions.
We first conside

Some more examples and solutions for lecture 1 (Solutions next
pages)
1.Simplify (no calculators)
7 2
(a)
3 9
1 1 1
( b)
2 3 4
(c) -1+
8 2 1
9 3 5
2. Simplify
6 a
(i)
a 4
1 2
(ii)
a b
(iii)
a
b
a -1 b 1
(iv)
ax 2 bx
a -1 b 1
3. Solve the folowing si

ECON 102: WEEK 1
Introduction to Econ 102
Thinking Like an Economist: Chapter 1
Markets, Supply, and Demand: Chapter 3
Introduction to Econ 102
This course is divided into five parts:
Microeconomics 1: Weeks 1-6 (David Rietzke)
Microeconomics 2: Weeks

Econ 102: Week 3
(Chapter 4) Demand: The Benefit Side of the
Market
Outline
Where does market demand originate?
individual preferences, constraints, choice,
Describe choices of individuals
rational choice model (aka indifference curve analysis)
model pre

ECON 102: WEEK 4
Cost and Production: Chapter 5
Outline
This week we will zoom in on the supply side of the
market
Re-visit the law of supply and relate to opportunity cost
The production function, and marginal product
Cost curves
Profit maximization

Econ 102: Week 3
(CHAPTER 4) DEMAND: THE BENEFIT SIDE OF THE MARKET
Outline
Where does market demand originate?
individual preferences, constraints, choice,
Describe choices of individuals
rational choice model (aka indifference curve analysis)
model pre

ECON 102
Tutorial Week 2
David Rietzke
1. Mike is currently taxi driver in Manchester. Each hour Mike operates his taxi
costs him 5 in petrol. The total revenue that Mike expects to bring in from
operating his cab for h hours is given in the foll

Econ 102
Tutorial Week 4
David Rietzke
1. For the consumption bundle (x1, x2), Tims marginal rate of substitution
between goods 1 and 2 is given by:
$,& =
2&
3$
Consider the three particular bundles: A = (3, 1); B = (6, 2); C = (4, 4)

Week 14 Inflation and Unemployment (Chapters 18 and 19)
1. A government survey determines that typical family expenditures each month in the year
designated as the base year are as follows:
20 pizzas, 10 each
Rent, 600 per month
Petrol and car maintenance