Chapter 1&2
1. What is economics?
Examines how people use their scarce resource to satisfy their unlimited wants
2. Explain 4 general categories of factor of production and payment for resources
- Lab
Why Provide Fuel Subsidy
Subsidy is an incentive paid by the government to specific corporate seeks to stabilize or lower
prices than market price of goods and services that can enjoyed by the people
How fuel prices are calculated in Malaysia
By Paul Tan / 15 February 2009
Domestic Trade and Consumer Affairs Ministry Domestic Trade Division Senior Director Ismail
Ahmad has revealed to all how the
AFTER so much hesitation in the past due mainly to fears about its political
impact, the government took the entire nation by complete surprise last
Friday by removing subsidies on the RON95 fuel and
1. Explain what relates to governments decision removing the petrol subsidies and
how such move impacts Malaysian?
2. Analyze petrol price subsidy by applying supply-and-demand analysis to story
about
What is subsidy?
Subsidy is money paid by the government to specific corporate seeks to stabilize or lower prices
than market price of goods and services that can enjoyed by the people who require.
Su
Acknowledgement
In the process of completing this assignment, we are grateful there are a lot of people assisting
us in this project. Hence, we would like to seize this opportunity to express our grat
Oligopoly
Oligopoly is a market where there are a few sellers and buyers. Firms in this market influence
one another.
8.3.1 Characteristics of Oligopoly
(a) There are not many firms in the market and
CIX1001: Principles of Microeconomics
Assignment 3
1. Suppose that Omars marginal utility for cups of coffee is constant at 1.5 utils per cup, no
matter how many cups he drinks. On the other hand, his
CIX1001: Principles of Microeconomics
Assignment 2
1. Why do long-run elasticities of demand differ from short-run elasticities? Consider two
goods: paper towels and televisions. Which is a durable go
CIX1001: Principles of Microeconomics
Assignment 1
1. Consider the market for eggs. For each of the events listed, identify which of the
determinants of demand or supply are affected. Also indicate wh
ESEE2012
Basic Econometrics
Lecture 7
Heteroscedasticity
1
Homoscedasticity
Classical linear regression model:
Yi 0 1 X i i , where Var i | X i E i2 | X i 2
This is called the homoscedasticity (cons
ESEE2102
Basic Econometrics
Lecture 6
Multicollinearity
Definition
Perfect Multicollinearity: A perfect linear
relationship between two or more independent
variables
Imperfect Multicollinearity: Two o
ESEE2102
Basic Econometrics
Lecture 4
Multiple regression
Multiple Regression Model
The relationship between one dependent variables with
two or more independent variables which is a linear
function.
ESEE2102
Basic Econometrics
Lecture 10
Dummy Variables
Dummy Variables
Dummy variables refers to the technique of using a
dichotomous variable (coded 0 or 1) to represent the
separate categories of a
ESEE2102
Basic Econometrics
Lecture 1
Introduction to Econometrics and
Modelling Process
1
Learning Outcomes
At the end of this lecture, students should be able to:
explain the aims of econometrics;
ESEE2102
Basic Econometrics
Lecture 3
Simple regression: bivariate
model.
I classic linear regression
model
Bivariate population regression
Relationship between X and expected value
of Y, when X take
ESEE2102
Basic Econometrics
Lecture 9:
Functional form of regression
model.
1
So far, we have discussed linear model which is in line
with one of the assumptions in CLRM that is the
model is linear i
Characteristics of Oligopoly
Some economists (and occasionally in this chapter) may consider any type of market structures
between perfect competition and monopoly, as oligopoly.
Therefore monopolis
Title Layout
Subtitle
Characteristics of Monopolistic Competition structure
Monopolistically competition is defined as a market (industry) in which there is many firms
selling differentiated product.
Title Layout
Subtitle
Characteristics of Monopoly Market
Monopoly markets
1) One Firm: It is assumed that there is one single firm
2)No close substitute: The monopoly firm produces good or service