Economics 3551
Fall 2017
[email protected]
Prof. Christainsen
VBT 428, 885-3301
TTh 2:00-3:00 pm
MANAGERIAL ECONOMICS
This course has two main objectives: (1) to help students better understand the role of the
business sector in the over
Recent Achievements Student and Alumni Twenty percent of alums attend graduate school, law
school, or MBA programs. Marie-Claude Arnott, 03, is a freelance journalist in Vancouver,
Canada. Jessica Burt is enrolled in the Hastings College of Law. Nathan Fa
Faculty Norman Bowen, published France, Europe and the Mediterranean in a Sarkozy
Presidency, Mediterranean Quarterly, (Fall 2007). He lived in France for 20 years, where he
taught at the University of Paris III and the American University of Paris. He te
Career Opportunities The INTS major enriches the global understanding of students seeking any
career path. Many INTS graduates seek employment in rapidly expanding international careers.
They gain the extra edge that foreign language competency and intern
Course Objectives
1.
Develop understanding of concepts globalization, global system and global governance including leading theories
and historical perspectives.
2.
Familiarity with participants in global system including nation-states and international o
Evaluation
Course evaluation will be based on participation, exams and written
assignments. Participation (20%) includes attendance, presentations,
discussions, debate. Quality participation will be a key to the success of this
class and will enhance the
Statement on Plagiarism
It is the policy of the International Studies Program and of California State
University to treat plagiarism as a very serious offense. The University Catalog
states that students who cheat or plagiarize may be expelled, suspended,
INTS 3100 Analytic Paper Guidelines
Analytic Paper Topic: Your paper should investigate a global system that is
covered in the class readings. Write a 2500-word essay using concepts
developed in this course. Your paper should include sources from at least
Overview International Studies (INTS) prepares students for international, bilingual, and crosscultural careers in business, international organizations and the non-profit sector. INTS is a
unique interdisciplinary program that draws on the rich offering
David J. St. Clair
Principles of Macroeconomics
Chapter 3
Comparing Economic Systems
Types of Economic Systems
Every economy is a group effort. In the past, some economic textbooks wrote about a
Robinson Crusoe economy (i.e., a one-person economy). This i
1
Econ 6370
HW 5. Public Good and Pivotal Mechanism
1. There are three individuals and each has an endowment of 40 units of the private good. Let
U1 = 1 x + y1 , U2 = 2 x + y2 , U3 = 3 ln (x + 1) + y3 . The production of 1 unit of X
requires units of Y as
1
Econ 6370
HW 9. Regulation - part 3
1. Assume a natural monopoly with total cost 500 + 20Q facing a demand of Q = 100 P.
(a) Find the price that enables the monopolist to break even. Call this price P .
(b) Loeb and Magat show that if the monopolist is
1
Econ 6370
HW 9. Regulation - part 1
1. Assume a natural monopoly with total costs C = 500 + 20Q. Market demand is Q = 100 P .
(a) If a price is set at marginal cost, what is the monopolists output and profit? Compute
consumer surplus.
(b) Suppose the mo
1
Econ 6370
HW 9. Regulation - part 2
1. Assume that a water distribution monopoly serves two consumer types, industrial and residential. The demands by the two classes are as follows. Industrial: QI = 30 PI and Residential:
QR = 24 PR . The company has n
Homework 7. School Choice
1. There are six students, A, B, C, D, E, and F, and three colleges, X, Y, and Z, each with room for
two students. The student preferences are given in Table 1 and the college preferences are
given in Table 2.
Table 1
A
X
Y
Z
B
X
HW 6: Marriage Model
1. Assume that there are three Ws and three Ms. Specify the preferences of each agent so that the
DAA generates the same match when the Ms propose as when the Ws propose.
2. W=cfw_A, B, C and M=cfw_X, Y, Z with the preferences as spec
Questions on Voting
1. Does the following family of preferences over the three alternatives X, Y, Z have the single-peak
property? Explain. There are four preference orderings, each represented by a column, and a
higher alternative is preferred to a lower
1
Econ 6370
Public Good - Part 1
1. The private marginal benefit associated with a products consumption is P M B = 360 4Q
and the private marginal cost associated with its production is P M C = 5Q. Furthermore, the
marginal external damage associated with
1
Practice Questions: Budget Constraint - Part 2
For every question, assume a commodity is divisible, that is, any fraction (for example, 0.3 units)
can be purchased. So, you will have smooth lines for a budget constraint.
1. Linda likes shoes and books.
4. Elizabeth eats only tacos and hamburgers. Her utility from consuming x
p
hamburgers and y tacos is u(x; y) = 3x + y.
a) How would she rank the following bundles: A=(1,9), B=(2,9), C=(3,0),
D=(2,4), E=(2,1), F=(3,4)?
b) For what x she will be indierent
1
Homework: Chapter 3.3 Cost
1. Suppose the firms technology is the two-input Cobb-Douglas form, f (x1 , x2 ) = Ax
1 x2 for
A > 0, > 0, > 0. The price of x1 is w1 and the price of x2 is w2 .
(a) Write the cost minimization problem to produce at least y-le
1
Homework: Demand - continued
1. Charlie is consuming apples and bananas. His utility function is U (xA , xB ) = xA xB . We want
to find his demand function for apples, xA (pA , pB , m), and his demand function for bananas,
xB (pA , pB , m).
(a) The pric
1
HW on Price Discrimination - Part 2
1. Gomorrah, a small town, has only one local newspaper. The demand for newspaper q
depends on the price p and the amount of column inches of scandal reported per paper s.
1
The demand function is q = 15s 2 p3 . There
1
Practice Problems on Derivative
1. Find a derivative of function f with respect to x:
(a) f (x) = 235x + 18
(b) f (x) = 98x9 + 2x7 + 20
(c) f (x) = 5(ln x + 3)7 + 4 ln x2
(d) f (x) = 7x3 (ln cfw_2x + 3 + 5x)
(e) f (x) =
4x+2
3x2 3x
(f) f (x) = 6x + ln 2
1
Homework: Chapter 3.3, 3.5 Cost Minimization and Profit Maximization
1. A firm uses a single input to produce a single output according to a production function
f (x) = 4 x. The input costs $50 per unit, the output sells at $100 per unit.
(a) Write down
1
Homework: Chapter 2-4. Budget Constraint, Preference, Utility
When drawing pictures, put good X on the horizontal and good Y on the vertical axes.
1. Your income is I =$60 and prices of goods X and Y are px = $6 and py = $10. Write down
the budget const