The Markets for the Factors of Production
Factors of Production


The inputs used to produce goods and services
Labour (wage rate/ earnings), Capital (equipment, structures), Land
Demand for a factor of production is a derived demand
o A firms demand fo
GETTING LOGICAL SYMBOLS IN MICROSOFT WORD
1. Click on the word Insert (main tool bar) to open the Insert Menu.
2. When the Insert Menu drops down, click on More Symbols.
3. Within the Symbol Dialog box, look at the choices of symbols that
are showing. If
SW388R7
Data Analysis
& Computers II
Slide 1
Multiple Regression Assumptions and
Outliers
Multiple Regression and Assumptions
Multiple Regression and Outliers
Strategy for Solving Problems
Practice Problems
Compu
ters II
Multiple Regression and Assumption
ECO220Y1Y
Quantitative Methods in Economics
Prof. Murdock
Syllabus: selected highlights
Sections L0101, L0201
TA Tutorials: start this Friday
Public (http:/homes.chass.utoronto.ca/~murdockj/eco220/) & portal
Piazza: discussion among students outsid
The Economist, September 6, 2014
1
Histograms, Central Tendency,
and Variability
Lecture 2
Required Readings: Sections 5.1 5.6
NOTE: The required readings always include chapter openers,
math boxes (not optional), worked examples, just checking,
and other
Percentiles, STATA, Box Plots,
and Standardizing
Lecture 3
Required Readings: Sections 5.7 5.14
NOTE: When you finish a chapter (like this week) the required
readings automatically include the chapter ending materials
and especially What Can Go Wrong? and
ECO220Y: Homework 1  SOLUTIONS
Problems:
(1) Many possible solutions. Crosssectional: percent of regular faculty that are women in a sample of 34 economics
departments in universities around the world in 2004 (number of observations = n = 34). Time seri
Homework 4: ECO220Y
Exercises: Chapter 6: 5, 9, 13, 15, 17, 19, 21, 23, 33, 35 37, 39, 43, 47, 50, 65
Problems:
20
(1) Answer and EXPLAIN your answer. How do the graphs to the right differ?
y15
(A) the graph on the top shows no relationship
(B) the graph
Econ 312: Derivatives in vector notation.
Let
y = f (x1 ; :; xk )
be a scalar valued function. Write
0
B
B
x=B
@
we then dene
x1
x2
.
.
.
xk
0
1
C
C
C
A
@y
@x1
1
B
C
B @y C
B
C
B @x2 C
@f
B
C
=B
C
@x B . C
. C
B .
B
C
@
A
@y
@xk
and
Let
0
B
B
B
B
2
B
@ f
Means and Variances
Bo E. Honor
e
Princeton University
Fall, 2015
Denition of Expected Values:
For a discrete random variable that takes values
x1 , x2 , x3 , . . . ,
we dene the expected value (or mean) as
E [X ] =
xj P ( X
= xj ) .
j
For a continuously
1 of 11 pages
ECONOMICS 100
SAMPLE TERM TEST #4
March, 2013
1. Duration of Test: 90 minutes
2. There are 6 questions of unequal value:
1. Yes or No / National Accounts 24
2. Constant Price Keynesian Model 22
3. AD and SRAS 8
4. Money and Banking 28
5. Imp
1 of 12 pages
ECONOMICS 100
TERM TEST #4
Monday March 17, 2014
1.
Duration of Test: 90 minutes
2.
There are 6 questions of unequal value:
1.
National Accounts
2.
Two Country Keynesian Model
3.
AD and AS
4.
Money and Banking
5
Keynes with Money
6.
Yes / No
1 of 11 pages  SOLUTIONS
ECONOMICS 100
SAMPLE TERM TEST #4
March, 2013
1. Duration of Test: 90 minutes
2. There are 6 questions of unequal value:
1. Yes or No / National Accounts 24
2. Constant Price Keynesian Model 22
3. AD and SRAS 8
4. Money and Banki
1 of 12 pages  SOLUTIONS
ECONOMICS 100
TERM TEST #4
Monday March 17, 2014
1.
Duration of Test: 90 minutes
2.
There are 6 questions of unequal value:
1.
National Accounts
2.
Two Country Keynesian Model
3.
AD and AS
4.
Money and Banking
5
Keynes with Money
ECONOMICS 100
TERM TEST #4
March 16, 2015
1.
Duration of Test: 60 minutes
2.
There are 30 Multiple Choice Questions to be answered via the Scantron sheet.
3.
Also, circle you final answer on this test paper for each question.
4.
Marks will be posted on th
ECONOMICS 100
TERM TEST #4
March 16, 2015
1.
Duration of Test: 60 minutes
2.
There are 30 Multiple Choice questions to be answered via the Scantron sheet.
3.
Also, circle you final answer on this test paper for each question.
4.
Marks will be posted on th
Mustread books for bankers
Investment Banking Books & Reference Materials
Below is a selection of books that are "mustreads" for investment
bankers and also people interested in investments. Most of those are
recommended by top business school and finan
Linear Regression
Bo E. Honor
e
Princeton University
2015
Bo Honor (Princeton University)
e
Regression
2015
1 / 85
Multivariate Regression
What if we want to have more than one explanatory variable:
yi = 1 + x2i 2 + . . . + xki k + ui
Again, it makes sens
Very Selective Review of Simple Statistics
Bo E. Honor
e
Princeton University
Fall, 2015
Estimation
Parameter, : Some feature of a distribution.
Estimator, : Some function of the data.
Unbiasedness: E = true no matter what true is.
p
Consistency: true whi
ECO220Y: Homework 2  SOLUTIONS
Problems:
(1) It would sum to the number of observations (i.e. the sample size, n). It would sum to one. It would sum to one.
(2) (a) 100*(5 + 1)/78 = 7.7%
(b) 100*(0.06 + 0.015) = 7.5% (approximate because we roughly estim
Homework 3: ECO220Y SOLUTIONS
Problems:
(1) (a) It is positively skewed and unimodal.
(b) Y = 10 + X. The shape remains positively skewed and unimodal. The mean increases by 10 and the s.d. is unchanged.
This gives everyone the same boost regardless of th
Cost Minimization and Isoquants Handout The production function is a function that gives the maximum output attainable from a given combination of inputs. The production function is defined as
f (x)
max [y: (x, y) is an element of the production set ] max
Linear Functions and their Slopes
Functions A function of a real variable x (with domain D) is a rule that assigns a unique real number to each number x in the domain D. We sometimes use the word mapping instead of function. Functions are often given lett
April 22, 2001
Monopoly
Handout 2
Comparing Monopoly to Perfect Competition
Main result  All else equal, a monopoly market will have higher prices and lower output than a purely competitive
market.
In a competitive market firms produce where price is equ
Perfect Competition Handout
Market structure refers to all characteristics of a market that influence the behavior of buyers and sellers when they come together to trade. The keys factors in defining a market structure are: a. short run and long run objec
Perfect Competition in the Short Run Handout
The firms shortrun supply curve Let price be $120. Let the cost function by given by cost ( y ) 200 100 y 14 y 2 y 3 . Let marginal cost be given by MC ( y ) 100 28 y 3 y 2 rather than being computed as a disc
April 22, 2001
Price Discrimination Handout 1
Price discrimination is the selling of two varieties of a product to two different buyers at different net prices, where the net price is the price paid by the buyer adjusted for any cost of product differenti
Profit Maximization Profit Revenue py Profit () p f (x1 , x2 , , xn) py Cost
i 1 n
wi xi , y P ( x ) w i xi
n
i 1
C(y , w1 , w2 , ,wn)
(p , w1 , w2 , ) Profit max problem
max p y
x, y
i 1
wi xi such that x P ( x ) w i xi
n
n
max p f (x1 , x2 , , xn)
x