Economics 211
Test 1
Thursday 29th May 2014
Name:
Student Number:
Please turn o all electronic devices computers, cell phones, calculators.
1
Answer all questions. Each question is worth 10 marks.
1. Let, X, the set for the following questions, be n . Usi
Economics 211
Assignment 2
Must be handed in, in class, Thursday 22 May 2014
Answer all questions in the space provided.
Please write clearly and concisely.
Name:
Student Number:
1
1. Let u : 2 be the utility function for some consumer who always prefers
Economics 211
Assignment 1
Must be handed in, in class, Thursday 15 May 2014
Answer all questions in the space provided.
Please write clearly and concisely.
1. Assume a, b, p1 , p2 are positive real numbers and w is a nonnegative real number. Solve
the fo
Economics 211
Assignment 3
Must be handed in, in class, Tuesday June 17th 2014
Name:
Student Number:
1
Please print this assignment and then answer all questions in the space provided. Please write clearly and concisely.
1. Use the notes on chapter 6 to n
Opportunity cost:
Letting go of the best alternative to gain something else
Ex. Foregoing sleep in order to attend universities lectures
Rational choice:
Going to university to get a better career and to earn good money in the future, the costs is of 4 ye
Econ 211 Winter 2014 Final Exam
Instructions: NO electronic aids of any type are permitted. Answer seven (7)
of the following ten (10) questions. All questions are of equal weight. Indicate
clearly on the rst page of your booklet which questions you want
Economics 211
Test 2
Thursday 6th March 2014
Name:
Student Number:
Please turn o all electronic devices computers, cell phones, calculators.
1
Answer all questions. Each question is worth 10 marks.
1. Let f be a real-valued dierentiable function: [c, d] .
Economics 211
Test 2
Thursday 3rd July 2014
Name:
Student Number:
Please turn o all electronic devices computers, cell phones, calculators.
1
Answer all questions. Each question is worth 10 marks.
1. Let f be a real-valued dierentiable function: [c, d] .
Economics 211
A Note on Chapter 7: a 3 by 3 example to solve equations by the
row-echelon method
Suppose we want to solve the following system of 3 equations in 3 unknowns.
a11 x1 + a12 x2 + a13 x3 = z1
a21 x1 + a22 x2 + a23 x3 = z2
a31 x1 + a32 x2 + a33
Economics 211
Notes on chapter 6
Suppose we want to maximize f : [a, b] , a, b , a < b. Assume f possesses rst
and second derivatives and f is strictly concave, that is, f (x) < 0, for x [a, b]. Denote
the optimal value x [a, b]. Show: (i) x = c if f (c)
Economics 211
Some notes on chapters 3 and 4
The text denes a sequence as a function whose domain is the natural numbers cfw_1, 2, 3, . . .
(page 62). So if the range is n we could write the sequence as a countable subset of n .
cfw_a1 , a2 , a3 , . . . c
Economics 211
Notes on Quadratic Forms
.
Quadratic forms and their properties are used to state the second-order conditions for
functions of two or more variables. If A is an n by n matrix and x is an n by 1 column vector
then the quadratic form of A and
Chapter 2: The Economic Problem
-need to distinguish b/w scarcity and poverty
Ppf: limited resources you have and what you can make
Frontiers curve: anything within the ppf is attainable (but is not efficient)
- When you can change the production/quantity