Quantitative Economics
U20429
Chapters 1-3
Lecturer: Gianpiero Torrisi
2013-2014
What Is (Are?) Statistics?
Statistics (the discipline) is a way of reasoning,
a collection of tools and methods, designed to
help us understand the world.
Statistics (plura
Maths Lecture 6 Introduction to Differentiation
By the end of this topic you should be able to:
f'
( x )dy
dx
Recognize the notation
for the derivative of a function.
Estimate the derivative of a function by measuring the slope of a
tangent.
Differentiate
Maths Lecture 8: Economic Functions of Several Variables
By the end of this topic you should be able to:
Determine the first-order and second-order partial derivatives of a
function z=f ( x , y ) .
Understand the small increments formula
Use the first-ord
Maths Lecture 9: Unconstrained Optimization of a Function of Two Variables
Some Economic Applications
By the end of this topic you should be able to:
Find the maximum profit of a firm that produces two goods.
Find the maximum profit of a firm that sells a
Topic 3 Introduction to Matrices
By the end of this topic you should be able to:
Understand the notation and terminology of matrix algebra.
Find the transpose of a matrix.
Add and subtract matrices.
Multiply matrices by a scalar.
Multiply matrices togethe
Topic 4 Further Matrix Algebra
By the end of this topic you should be able to:
Detect whether a matrix is singular or non-singular.
Calculate the determinant and inverse of a 2x2 matrix.
Calculate the determinant of a 3x3 matrix.
Use matrix inverses to so
Maths Lecture 7 - Optimization of a function of a single variable
By the end of this topic you should be able to:
Use the first-order derivative to find the stationary points of a
function.
Use the second-order derivative to classify the stationary points
Maths Lecture 10: Elasticity
By the end of this topic you should be able to:
Calculate point price elasticity of demand and supply.
Decide whether demand is inelastic, unit elastic or elastic.
Understand the relationship between price elasticity of demand
CHAPTER 5: THE MARKET FOR FOREIGN EXCHANGE
Money represents purchasing power.
Broadly defined, the foreign exchange market (FX) market encompasses the conversion of
purchasing power from one currency into another, bank deposits of foreign currency, the
ex
Microeconomics
Seminar 6: Week beginning 3rd November
1.
Both goods normal.
2.
3.a.
Joes optimal consumption choice is given by point e1 in the diagram below. This is the point
at which his budget line BL0 is at a tangent to his indifference curve Uo givi
Micro Seminar 4 Answers
1.
The price elasticity of demand measures how much the quantity demanded of a
good responds to a change in the price of that good.
PED =
2.
=
Elastic
The cross-price elasticity of demand measures how much the quantity demanded of
Microeconomics
Seminar 3:
Answers
1.
The equilibrium of a market is the point at which the quantity demanded is equal to
quantity supplied.
2.
Quantity supplied equals quantity demanded at a price of 6 and quantity of 81 pizzas. If
price were greater than
Microeconomics
Seminar 2: Week beginning 6th October
1. What is a competitive market? Briefly describe the types of markets other than perfectly
competitive markets. Give an example of each type of market.
A competitive market is a market in which there a
Microeconomics
Seminar 1 - Answers
1.
What is the difference between microeconomics and macroeconomics? Write
down three questions that the study of microeconomics might be concerned
with and three questions that might be involved in the study of
macroeco
Examine the course of fuel prices from the early
1990s? What do they say about the development
of the British economy?
Retail natural-gas and
electricity prices
remained relatively
stable in the UK until
2005-06, when these
costs skyrocketed. The
price of
Microeconomics
Seminar 5: Week beginning 27th October
1.
A consumer has an income of 3000 and wine costs 3 a glass and cheese costs 6 a kilo.
a.
Draw the consumers budget line (with quantity of wine measured on the vertical axis). What
is the slope of the
Review for Midterm Exam I Name
Identify the W's for the description of data.
1) In 2004, a soft drink company trying to find ways to boost sales over their competitors compiled these data
about consumers: age, weekly consumption, diet vs. regular preferen
AP Stats
Chap 5 Test Bank
Name _ Pd _
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
Find the mean of the data.
1. John liked to order the all- you-can- eat shrimp at his favorite restaurant. Here ar
Statistics Sheet 2 - Solutions U20429 Quantitative Economics
Academic Year: 2014-2015
Gianpiero Torrisi
Question 1 Solution
a) The distribution of the number of speeding tickets each student in the senior class of a
college has ever had is likely to be un
Statistics Sheet 2
Academic Year: 2014-2015
U20429 Quantitative Economics
Gianpiero Torrisi
Question 1
Would you expect distributions of these variables to be uniform, unimodal or bimodal?
Symmetric or skewed? Explain why.
a) The number of speeding ticket
BUSINESS ACCOUNTING
U23348/U20431/U21076
LECTURE 3
Balancing the basics, assets, liabilities and
capital, the accounting equation
At the end of this lecture, you should be able to:
Explain the purpose of a statement of financial position.
Recognise the as
AP Stats
Chap 1-6
PRACTICE TEST
Name _ Pd _
SECTION I
Number of Questions 40
Percent of Total Grade 100
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
Identify the W's for the description of data.
1.
AP Statistics Review Chapters 4-5 Practice Problems
Name_
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
Would you expect the distribution of this variable to be uniform, unimodal, or bimodal? Symmet
BUSINESS ACCOUNTING
U23348/U20431/U21076
LECTURE 1
Introduction to Business Accounting, cash
budgets
At the end of this lecture, you should be able to:
Explain the purpose of accounting
Discuss why non-accountants need to understand
accounting
Understand
AP Stats
Chap 3 Review
Name _ Pd _
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
Provide an appropriate response.
1. The Centers for Disease Control lists causes of death for individual states in 20
BUSINESS ACCOUNTING
U23348/U20431/U21076
LECTURE 2
The business cycle, capital and revenue
expenditure, calculating profits
At the end of this lecture, you should be able to:
Understand the features of a normal business cycle.
Distinguish between capital