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School: FSU
Course: State And Local
ECO4554 FINAL EXAM REVIEW CORE PRINCIPLES TOPIC 1 Topic 1 (Economic Efficiency) If there are no externalities, no increasing returns to scale, and no public goods, the allocation of resources in a competitive market is economically efficient in the sense
School: FSU
Course: PRIN OF MACROECON
Macro Chapter 2 study guide questions Multiple Choice Identify the choice that best completes the statement or answers the question. _ 1. The opportunity cost to the United States of placing a man on the moon was a. the loss of government revenues that we
School: FSU
Course: Principles Of Macroeconomics
ECO 2013 Principles of Macroeconomics Chapter 10 - Dynamic Change, Economic Fluctuations, and the AD-AS Model 5 Learning Goals: #1 - Examine the factors that shift aggregate demand. Chapter heading: Factors that Shift Aggregate Demand List the factors tha
School: FSU
Course: Intro To Econometrics
Acceptance region: The set of values of a test statistic for which the null hypothesis is accepted (is not rejected). Asymptotic distribution: The approximate sampling distribution of a random variable computed using a large sample. For example, the asymp
School: FSU
Course: Principles Of Macroeconomics
ECO 2013 Principles of Macroeconomics Chapter 12 Fiscal Policy: Incentives, and Secondary Effects 4 Learning Goals: #1 Explain the crowding-out effect. Chapter heading: Fiscal Policy, Borrowing, and the Crowding-Out Effect Key terms: Crowding-out effect-
School: FSU
Course: Macroeconomics
ECO2013 Principles of Macroeconomics Final Exam Study Guide Fall 2010 Semester This study guide is meant to assist with your time management in preparation for the final exam. The section titles from the assigned chapters in Gwartney, et al, Macroeconomic
School: FSU
Course: Principles Of Macroeconomics
1. Which of the following explains consumer surplus for good A? Many consumers would be willing to pay more than the market price for good A. 2. Quantity demanded has decreased means the price of the product has risen and consequently consumers are demand
School: FSU
Course: Intermediate Macroeconomics
Chapter11and9:AD/ASmodel OutlineforReview FromtheISLMmodeltotheADcurve o WhyADcurveslopesdownward Whenpriceschange M/Pchange LMshift changerandY ADplotanegativerelationshipbetweenPandY AchangeincomeintheISLMmodelresultingfromachangein thepricelevelrepres
School: FSU
Ch 1 1. The expression, "There's no such thing as a free lunch," implies that -opportunity costs are incurred when resources are used to produce goods and services. 2. Economists use the term ceteris paribus to indicate that -other things are assumed to b
School: FSU
Course: Macro
REAL OPTIONS Options to Abandon, Expand, Contract, and Choose Inputs Expansion Rate 75.0% 75 Contraction Rate 55.0% 55 Expansion Cost $130.0 130 Contraction Savings $75.0 75 Static Project Value Now $146.0 146 Standard Dev (Annual) 63.0% 63 Riskfree Rate
School: FSU
Course: Macro
DEBT AND EQUITY VALUATION Inputs Value of Firm (V) Firm Asset Std Dev (s) Risk-free Rate (kRF ) Two Methods Analogous Inputs for a Black-Scholes Call Option on a Stock $340.00 Stock Price 50.0% Stock Std Dev Face Value of Debt (B) Time to Maturity (t) 5.0
School: FSU
Course: Macro
CORPORATE FINANCIAL PLANNING Cutting Edge B2B Inc. Financial Plan Key Assumptions 2010 Actual Sales Growth Rate Tax Rate Int Rate on Short-Term Debt Int Rate on Long-Term Debt Dividend Payout Rate Price / Earnings 2011 Actual 42.1% 6.5% 7.7% 33.9% 28.8 An
School: FSU
Course: Intro To Macroeconomics
SLS 1501 Wintz Due Date: _ Advisor Meeting Reaction Paper & Educational Plan (30 points) Directions: The following will help you in preparing an Educational Plan and preparing for a meeting with an advisor. Please complete the following Education Plan pri
School: FSU
Course: Intro To Macroeconomics
John Panaro Jamie Wintz/SLS1501 April 15, 2008 Reflection Paper: Remember the Titans Remember The Titans is a movie based on a true story about an African American football coach hired at a Virginia school in the segregated times of the early 1970's. Coac
School: FSU
Course: Intro To Econometrics
Acceptance region: The set of values of a test statistic for which the null hypothesis is accepted (is not rejected). Asymptotic distribution: The approximate sampling distribution of a random variable computed using a large sample. For example, the asymp
School: FSU
Course: Macroeconomics
ECO2013 Principles of Macroeconomics Final Exam Study Guide Fall 2010 Semester This study guide is meant to assist with your time management in preparation for the final exam. The section titles from the assigned chapters in Gwartney, et al, Macroeconomic
School: FSU
Course: Microeconomics
Chapter 4 The Labor market: It works the same as the market for goods and services, with just a different name for price and quantity. o Labor demand is downward sloping because as wage decreases, firms will want to employ more people. o Labor supply is u
School: FSU
Old Test Questions ECO 3303 History of Economic Ideas Randall Holcombe Spring 2008 1. (10 points) Mandeville argued that morality and economics are different areas of inquiry, but how did he link together morality and prosperity? 2. (10 points) Sent
School: FSU
Course: Principles Of Macroeconomics
ECO2023 Principles of Microeconomics Final Exam Study Guide Spring 2012 This study guide is meant to assist with your time management in preparation for the final exam. The section titles from the assigned chapters in Gwartney, et al, Microeconomics Priva
School: FSU
Course: Macroeconomics
CHAPTER 7 New residential housing is counted in GDP as a(n) investm ent good. In 2008 in the U.S., the four components of GDP matched up with their relative importance as follows: C: 70 percent of GDP; Which of the following statements about gross domesti
School: FSU
Course: State And Local
Practice Problem Set 1 - Public Goods: Private/Public Provision Economics 4554, Spring 2013 These are practice problems. They do not need to be turned in. Some additional resources: For Grubers take on The Mathematics of Public Goods Provision, see the a
School: FSU
Course: State And Local
Problem Set 4 - Asymmetric Information Economics 4554, Spring 2014 Due on Thursday, April 3rd, at the beginning of class. You may (and should) work with classmates, but you must hand in your own answers and write the names of those you work with on your h
School: FSU
Course: State And Local
Problem Set 3 - Voting and Sorting Economics 4554, Spring 2013 Due on Thursday, March 20th, at the beginning of class. You may (and should) work with classmates, but you must hand in your own answers and write the names of those you work with on your home
School: FSU
Course: State And Local
Problem Set 2 - Voting and Sorting Economics 4554, Spring 2013 Due on Thursday, February 13th, at the beginning of class. You may (and should) work with classmates, but you must hand in your own answers and write the names of those you work with on your h
School: FSU
Course: State And Local
Problem Set 1 - Review of Microeconomics/Public Goods Economics 4554, Spring 2013 Due on Thursday, January 23rd, at the beginning of class. You may (and should) work with classmates, but you must hand in your own answers and write the names of those you w
School: FSU
Course: Introduction To Economics
Economics 101 Fall 2011 Homework #6 Due: 12/13/2010 in lecture Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly). Make sure you write your name as it
School: FSU
Course: Principles Of Macroeconomics
ECO 2013 Principles of Macroeconomics Chapter 10 - Dynamic Change, Economic Fluctuations, and the AD-AS Model 5 Learning Goals: #1 - Examine the factors that shift aggregate demand. Chapter heading: Factors that Shift Aggregate Demand List the factors tha
School: FSU
Course: Principles Of Macroeconomics
ECO 2013 Principles of Macroeconomics Chapter 12 Fiscal Policy: Incentives, and Secondary Effects 4 Learning Goals: #1 Explain the crowding-out effect. Chapter heading: Fiscal Policy, Borrowing, and the Crowding-Out Effect Key terms: Crowding-out effect-
School: FSU
CH1 THE ECONOMIC APPROACH *SEE ATTACHED PAGE #1summarych1 A. Scarcity and poverty NOT THE SAME THING, absence of poverty implies that some basic level of need has been met. an absence of scarcity implies that our desire for goods are fully satisfied. We m
School: FSU
Course: Principles Of Macroeconomics
ECO 2013 Principles of Macroeconomics Chapter 11 Fiscal Policy: The Keynesian View and Historical Perspective Important Note: Only read up to page 245 and stop before the section titled The Keynesian Aggregate Expenditure Model 6 Learning Goals: #1 List t
School: FSU
Course: Principles Of Macroeconomics
Chapter 8: Economic Fluctuations, Unemployment, and Inflation 5 Learning Goals: #1 - Characterize fluctuations in economic growth. Chapter heading: Swings in the Economic Pendulum Key terms: Business cycle- Fluctuations in the general level of economic ac
School: FSU
Course: Principles Of Macroeconomics
Chapter 7: Taking the Nation's Economic Pulse 4 Learning Goals: #1 - Define gross domestic product and describe the key phrases of the definition. Chapter heading: GDP- A Measure of Output Key term: Gross domestic product- The market value of all final go
School: FSU
Course: Principles Of Macroeconomics
P R I N C I P L E S E FALL SEMESTER 2011 O F M A C R O E C O N O M I C S 2 0 1 3 - 0 4 C O N O M I C S DR. JOE CALHOUN FLORIDA STATE UNIVERSITY COLLEGE OF SOCIAL SCIENCES AND PUBLIC POLICY DEPARTMENT OF ECONOMICS HCB 101 Monday, Wednesday & Friday; 1:25 -
School: FSU
Course: State And Local
ECONOMICS 4554, Section 01 Economics of State and Local Governments Syllabus, Spring 2014 Professor Christopher Clapp Email: cclapp@fsu.edu Office: 281 Bellamy, 645-0756 Class meetings: T R 9:30am-10:45am Class location: Bellamy 033 Office hours: T 2:30-4
School: FSU
Course: Principles Of Macroeconomics
PRINCIPLES E OF MICROECONOMICS CONOMICS 2023-02 SPRING SEMESTER 2012 DR. JOE CALHOUN FLORIDA STATE UNIVERSITY COLLEGE OF SOCIAL SCIENCES AND PUBLIC POLICY DEPARTMENT OF ECONOMICS HCB 101 Tuesday & Thursday; 11:00 - 12:15 pm COURSE DESCRIPTION & LEARNING G
School: FSU
Course: Games And Decisions
Prof. John Lightle Email: jlightle@fsu.edu Bellamy Building 255 Office Hours: W,Th 3:30-5:00 Economics 4400: Games and Decisions Fall 2010 Overview: This course is designed to familiarize the student with the tools, techniques, and concepts of game theory
School: FSU
Course: Intermediate Macroeconomics
Florida State University Department of Economics ECO4203: I ntermediate M acroeconomic Theory Spring 2011 Class Times & Locations: Section 01 Section 02 T R 9:30 10:45 a.m. at 203 BEL T R 3:35 4:50 p.m. at 033 BEL I nstructor: Dr. Onnie Norrbin Course Web
School: FSU
Course: Behavioral Economics
Economics 3933: Behavioral Economics Spring 2011 Professor: John Hamman Office: 262 Bellamy, 645-9290 Email: jhamman@fsu.edu Overview: This course explores the connections between economics and other social sciences, primarily psychology. Recent developme
School: FSU
Course: State And Local
ECO4554 FINAL EXAM REVIEW CORE PRINCIPLES TOPIC 1 Topic 1 (Economic Efficiency) If there are no externalities, no increasing returns to scale, and no public goods, the allocation of resources in a competitive market is economically efficient in the sense
School: FSU
Course: PRIN OF MACROECON
Macro Chapter 2 study guide questions Multiple Choice Identify the choice that best completes the statement or answers the question. _ 1. The opportunity cost to the United States of placing a man on the moon was a. the loss of government revenues that we
School: FSU
Course: Principles Of Macroeconomics
ECO 2013 Principles of Macroeconomics Chapter 10 - Dynamic Change, Economic Fluctuations, and the AD-AS Model 5 Learning Goals: #1 - Examine the factors that shift aggregate demand. Chapter heading: Factors that Shift Aggregate Demand List the factors tha
School: FSU
Course: Intro To Econometrics
Acceptance region: The set of values of a test statistic for which the null hypothesis is accepted (is not rejected). Asymptotic distribution: The approximate sampling distribution of a random variable computed using a large sample. For example, the asymp
School: FSU
Course: Principles Of Macroeconomics
ECO 2013 Principles of Macroeconomics Chapter 12 Fiscal Policy: Incentives, and Secondary Effects 4 Learning Goals: #1 Explain the crowding-out effect. Chapter heading: Fiscal Policy, Borrowing, and the Crowding-Out Effect Key terms: Crowding-out effect-
School: FSU
Course: Macroeconomics
ECO2013 Principles of Macroeconomics Final Exam Study Guide Fall 2010 Semester This study guide is meant to assist with your time management in preparation for the final exam. The section titles from the assigned chapters in Gwartney, et al, Macroeconomic
School: FSU
Course: Microeconomics
Chapter 4 The Labor market: It works the same as the market for goods and services, with just a different name for price and quantity. o Labor demand is downward sloping because as wage decreases, firms will want to employ more people. o Labor supply is u
School: FSU
Course: PRIN OF MACROECON
Macro Chapter 8 study guide questions Multiple Choice Identify the choice that best completes the statement or answers the question. _ 1. Frictional unemployment results from a. not enough jobs in the economy. b. not enough employers. c. not enough employ
School: FSU
Old Test Questions ECO 3303 History of Economic Ideas Randall Holcombe Spring 2008 1. (10 points) Mandeville argued that morality and economics are different areas of inquiry, but how did he link together morality and prosperity? 2. (10 points) Sent
School: FSU
Course: Principles Of Macroeconomics
1. Which of the following explains consumer surplus for good A? Many consumers would be willing to pay more than the market price for good A. 2. Quantity demanded has decreased means the price of the product has risen and consequently consumers are demand
School: FSU
Course: PRIN OF MACROECON
Macro Chapter 16 study guide questions Multiple Choice Identify the choice that best completes the statement or answers the question. _ _ _ _ _ _ _ 1. When a country's real GDP is increasing at a faster rate than its population, a. per capita GDP will be
School: FSU
Course: PRIN OF MACROECON
Macro Chapter 12 study guide questions Multiple Choice Identify the choice that best completes the statement or answers the question. _ 1. Expansionary fiscal policy financed by government borrowing can lead to a. higher interest rates and lower private i
School: FSU
Course: Principles Of Macroeconomics
ECO2023 Principles of Microeconomics Final Exam Study Guide Spring 2012 This study guide is meant to assist with your time management in preparation for the final exam. The section titles from the assigned chapters in Gwartney, et al, Microeconomics Priva
School: FSU
Course: PRIN OF MACROECON
Macro Chapter 7 study guide questions Multiple Choice Identify the choice that best completes the statement or answers the question. _ 1. Real GDP refers to nominal GDP a. minus gifts to other countries. b. minus total unemployment compensation. c. adjust
School: FSU
Course: PRIN OF MACROECON
Macro Chapter 10 study guide questions Multiple Choice Identify the choice that best completes the statement or answers the question. _ 1. Which of the following will reduce aggregate demand? a. an increase in real wealth b. lower real incomes of the coun
School: FSU
Course: Intermediate Macroeconomics
Chapter 10: K eynesian Cross and the I S-LM M odel Outline for review T he Good M arket The Keynesian Cross: (study equations and graphs) o What is planned expenditure? o What is the equilibrium condition in the Keynesian cross? o Fiscal policy and the Mu
School: FSU
Course: Intermediate Macroeconomics
Chapter 2: The Data of Macroeconomics Key Concepts Measuring the value of economic activity: GDP The circular flow Stocks and Flows Rules of computing GDP o Adding apples and oranges o Used goods o The treatment of inventories o Intermediate goods and val
School: FSU
Course: Principles Of Macroeconomics
P R I N C I P L E S E FALL SEMESTER 2011 O F M A C R O E C O N O M I C S 2 0 1 3 - 0 4 C O N O M I C S DR. JOE CALHOUN FLORIDA STATE UNIVERSITY COLLEGE OF SOCIAL SCIENCES AND PUBLIC POLICY DEPARTMENT OF ECONOMICS HCB 101 Monday, Wednesday & Friday; 1:25 -
School: FSU
Course: Intermediate Macroeconomics
Chapter11and9:AD/ASmodel OutlineforReview FromtheISLMmodeltotheADcurve o WhyADcurveslopesdownward Whenpriceschange M/Pchange LMshift changerandY ADplotanegativerelationshipbetweenPandY AchangeincomeintheISLMmodelresultingfromachangein thepricelevelrepres
School: FSU
Course: Macroeconomics
CHAPTER 7 New residential housing is counted in GDP as a(n) investm ent good. In 2008 in the U.S., the four components of GDP matched up with their relative importance as follows: C: 70 percent of GDP; Which of the following statements about gross domesti
School: FSU
Ch 1 1. The expression, "There's no such thing as a free lunch," implies that -opportunity costs are incurred when resources are used to produce goods and services. 2. Economists use the term ceteris paribus to indicate that -other things are assumed to b
School: FSU
Course: Macro
REAL OPTIONS Options to Abandon, Expand, Contract, and Choose Inputs Expansion Rate 75.0% 75 Contraction Rate 55.0% 55 Expansion Cost $130.0 130 Contraction Savings $75.0 75 Static Project Value Now $146.0 146 Standard Dev (Annual) 63.0% 63 Riskfree Rate
School: FSU
Course: Macro
DEBT AND EQUITY VALUATION Inputs Value of Firm (V) Firm Asset Std Dev (s) Risk-free Rate (kRF ) Two Methods Analogous Inputs for a Black-Scholes Call Option on a Stock $340.00 Stock Price 50.0% Stock Std Dev Face Value of Debt (B) Time to Maturity (t) 5.0
School: FSU
Course: Macro
CORPORATE FINANCIAL PLANNING Cutting Edge B2B Inc. Financial Plan Key Assumptions 2010 Actual Sales Growth Rate Tax Rate Int Rate on Short-Term Debt Int Rate on Long-Term Debt Dividend Payout Rate Price / Earnings 2011 Actual 42.1% 6.5% 7.7% 33.9% 28.8 An
School: FSU
Course: Macro
LIFE-CYCLE FINANCIAL PLANNING Inputs Salary Savings rate Current Tax Rate Retirement Years Tax Rate Current Age Retirement Age Expected Age of Death Rate of Return on Retirement Investments Taxable vs. Traditional vs. Roth Savings $80,000 15.0% 20.0% 25.0
School: FSU
Course: Macro
INTERNATIONAL PARITY System of Four Parity Conditions Inputs $1.3640 13 US Riskfree Rate (Annual) 4.47% 4 US Inflation Rate 2.69% 2 Outputs 4 Eurozone Riskfree Rate (Annual) 4.27% Spot Exchange Rate (1 =) (4) International Fisher Effect (1) Interest Rate
School: FSU
Course: Macro
BREAK-EVEN ANALYSIS Based On NPV (in thousands of $) Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Key Assumptions Sales Growth Rate Change in Sales Growth Rate Inflation Rate Real Cost of Capital Tax Rate 55.0% 2.0% 11.0% 35.0% 2.5% 11.2% 35.0%
School: FSU
Course: Macro
PROJECT NPV Basics (in thousands of $) Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Key Assumptions Unit Sales Inflation Rate Real Cost of Capital Tax Rate 2000 2.0% 11.0% 35.0% 4000 2.5% 11.2% 35.0% 5600 3.0% 11.4% 35.0% 6800 3.5% 11.6% 35.0%
School: FSU
Course: Macro
DU PONT SYSTEM OF RATIO ANALYSIS Basics Inputs Net Profit $82 120.0% Components of ROE 100.0% Pretax Profit $153 EBIT $583 60.0% Sales $3,740 40.0% Assets $5,460 Equity Outputs ROE = Net Profit / Equity Components of ROE: Net Profit / Pretax Profit Pretax
School: FSU
Course: Macro
COST-REDUCING PROJECT Basics (in thousands of $) Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Key Assumptions Inflation Rate Real Cost of Capital Real Growth Rate Tax Rate 3.0% 9.5% 38.0% 2.8% 9.3% 16.0% 38.0% 2.5% 9.1% 13.0% 38.0% 2.2% 9.0% 9.0% 38.0% 2.0%
School: FSU
Course: Macro
r o j e c t FIRM AND PROJECT VALUATION Inputs Five Equivalent Methods ValuationObject Valuation Object Date 0 Proj Investment or Firm Cap Tax Rate Unlevered Cost of Equity Capital Riskfree Rate=Cost of Riskfree Debt Infinte Horizon Growth Rate $800.00 40.
School: FSU
Course: Macro
CAPITAL STRUCTURE $1,300 $1,800 11.00% 7.00% 0.2 Cost of Capital With No Taxes 0.18 0.16 Cost of Capit al Inputs Debt Value Equity Value Unlevered Cost of Equity Capital Cost of Debt Modigliani-Miller With No Taxes Cost of Equity WACC Cost of Debt 0.14 0.
School: FSU
Course: Macro
A 1 2 3 4 5 6 7 8 9 B C D E F G H I J BOND VALUATION Annual Payments Inputs Number of Periods to Maturity (T) Face Value (PAR) 8 8 $1,000 20 2.35% 4 $20.00 4 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 Discount Rate /
School: FSU
Course: Macro
US YIELD CURVE DYNAMICS Inputs Dynamic Chart Month = Nov-87 Static Features: Shape = Upward Row 2 Dynamic Chart of US Yield Curve Dynamics 16% 14% Yield To Maturity 12% 10% 8% 6% 4% 2% 0% 0 5 10 15 20 25 click right arrow = ahead 1 month click left arrow
School: FSU
Course: Macro
THE YIELD CURVE Yield Curve Inputs Today's Date One Month Treasury Bill Three Month Treasury Bill Six Month Treasury Bill One Year Treasury Strip Two Year Treasury Strip Three Year Treasury Strip Four Year Treasury Strip Five Year Treasury Strip Ten Year
School: FSU
Course: Macro
STOCK VALUATION Dividend Discount Model Inputs Levered Cost of Equity Capital Dividend Discount Model Year Dividend Growth Rate Dividend Continuation Value Dividend + Continuation Value PV of Dividend + Contin. Value Stock Value 12.0% 0 $6.64 24 1 12.0% F
School: FSU
Course: Macro
ANNUITY Present Value Inputs Payment Discount Rate / Period Number of Periods $80.00 6.0% 6 5 Annuity 8 5 140 120 100 80 Cash Flows 60 Present Value of Each Cash Flow 40 20 0 0 1 2 3 4 5 Period Annuity Present Value using a Time Line Period Cash Flows Pre
School: FSU
Course: Macro
LEASE VS. BUY Inputs Discount Rate Lease Lease Payment Present Value of Each Cash Flow Present Value of Lease Cost Buy Purchase Price and Residual Value Present Value of Each Cash Flow Present Value of Buy Cost Car 8.0% 0 $4,100 1 2 3 0 $32,000 1 2 3 4 ($
School: FSU
Course: Macro
SINGLE CASH FLOW Present Value Inputs Single Cash Flow Discount Rate / Period Single Cash Flow - Present Value $1,000.00 6.0% 1400 20 1200 1000 6 800 5 600 5 Cash Flows 400 Number of Periods Present Value 200 0 0 1 2 3 4 5 Period Present Value using a Tim
School: FSU
Course: Macro
LOAN AMORTIZATION Basics and Sensitivity Analysis Inputs Loan Amortization $ 50,000 Present value 30 $ 45,000 $ 40,000 $217,832 Interest rate / year 9.27% 8 Payment Interest Component Principal Component $ 35,000 $ 30,000 Number of years 30 30 $ 25,000 $
School: FSU
Course: Macro
NPV USING CONSTANT DISCOUNTING Nominal and Real Rates (in thousands of $) NPV Using Constant Discounti 60 Inputs 40 Inflation Rate 3.0% 20 3 0 Real Discount Rate 4.854% 4 -20 -40 Cash Flow Outputs -60 Nominal Discount Rate -80 Present Va Each Cash -100 -1
School: FSU
Course: Macro
NPV USING GENERAL DISCOUNTING Nominal and Real Rates (in thousands of $) NPV Using General Discounting 60 0 40 20 0 -20 -40 Cash Flows -60 Present Value of Each Cash Flow -80 -100 -120 0 Inputs Period 0 Cash Flows Cumulative Discount Factor Present Value
School: FSU
Course: Microeconomics
Professor: M. Rush ECO 2023 FALL 2013 MIDTERM 2 Read all instructions on this page This test is governed by UFs academic honesty code. It is intended to have 30 multiple choice questions. Please check to be sure your copy has all 30. MAKE CERTAIN THAT YOU
School: FSU
Course: Microeconomics
Professor: M. Rush ECO 2023 FALL 2013 MIDTERM 1 Read all instructions on this page This test is governed by UFs academic honesty code. It is intended to have 30 multiple choice questions. Please check to be sure your copy has all 30. MAKE CERTAIN THAT YOU
School: FSU
Course: Microeconomics
Professor: M. Rush ECO 2023 FALL 2013 MAKE UP TEST Read all instructions on this page This test is governed by UFs academic honesty code. This test has 34 questions. IF you are using this test to make up for missing either Midterm 1 or 2, answer the first
School: FSU
Course: Microeconomics
Professor: M. Rush ECO 2023 FALL 2013 FINAL EXAM This test is governed by UFs academic honesty code. It is intended to have 34 multiple choice questions. Please check to be sure your copy has all 34. Chose the best answer for each question. The next is i
School: FSU
Course: Microeconomics
SYLLABUS, ECO 2023 FALL 2013 PROFESSOR: M. RUSH OFFICE: 320 MAT OFFICE HOURS: Thursday, 9:45 to 11:45 Office Hours My office is in 320 MAT. I have scheduled office hours on Thursday from 9:45am to 11:45am. I might change these hours for some weeks, so pay
School: FSU
Course: Microeconomics
I assume that you have read the last essay and know that in an efficient market only new information can change demand and supply and thereby the price. Now, what are the implications of this result? First off, new information will be positive half of the
School: FSU
Course: Microeconomics
What determines the prices of stocks? This answer to this question is complicated. But a simplified answer looks at demand and supply. Demand and supply should be a familiar concept. We know that they determine the prices of goods and services and so, per
School: FSU
Course: Microeconomics
I presume you have read the first two essays I have written about the stock market. In this note I want to cover at a basic level couple of somewhat advanced institutional points, namely short selling and options. I am confident that we all know how an in
School: FSU
Course: Microeconomics
I presume you have read the basic material about the stock market I posted. In this essay I want to develop three additional points. First, I am sure that many of you have heard of the "Dow Jones Industrial Average" (sometimes abbreviated as DJIA) or the
School: FSU
Course: Microeconomics
Every student in my class will need to know about the stock market. I make this blanket statement because UF students will be successful and therefore eventually will need to determine how they will save part of their income. Indeed, many of my students w
School: FSU
Course: Microeconomics
Professor: M. Rush ECO 2023 FALL 2012 FINAL EXAM This test is governed by UFs academic honesty code. It is intended to have 33 multiple choice questions. Please check to be sure your copy has all 33. Chose the best answer for each question. The next is i
School: FSU
Course: Microeconomics
Professor: M. Rush ECO 2023 FALL 2012 MAKE UP EXAM This test is governed by UFs academic honesty code. It is intended to have 35 multiple choice questions. Please check to be sure your copy has all 35. Chose the best answer for each question. The next is
School: FSU
Course: Microeconomics
Professor: M. Rush ECO 2023 FALL 2012 MIDTERM 2 On Campus Exam Read all instructions on this page This test is governed by UFs academic honesty code. It is intended to have 33 multiple choice questions. Please check to be sure your copy has all 33. Chose
School: FSU
Course: Microeconomics
KEY FOR ECO 2023 MIDTERM 1, FALL 2012 On-campus and in-state exam A B C 1 2 3 4 5 A D A A E 1 2 3 4 5 B B A E D 1 2 3 4 5 A E D C C 6 7 8 9 10 A C B C D 6 7 8 9 10 C B C A B 6 7 8 9 10 D B C B A 11 12 13 14 15 A B B B D 11 12 13 14 15 C E D D C 11 12 13 1
School: FSU
Course: Microeconomics
Professor: M. Rush ECO 2023 Fall 2012 MIDTERM 1 On-campus and in-state exam Read all instructions on this page This test is governed by UFs academic honesty code. It is intended to have 33 multiple choice questions. Please check to be sure your copy has a
School: FSU
CH1 THE ECONOMIC APPROACH *SEE ATTACHED PAGE #1summarych1 A. Scarcity and poverty NOT THE SAME THING, absence of poverty implies that some basic level of need has been met. an absence of scarcity implies that our desire for goods are fully satisfied. We m
School: FSU
Course: Principles Of Macroeconomics
1. Which of the following explains consumer surplus for good A? Many consumers would be willing to pay more than the market price for good A. 2. Quantity demanded has decreased means the price of the product has risen and consequently consumers are demand
School: FSU
Course: Intermediate Macroeconomics
Chapter11and9:AD/ASmodel OutlineforReview FromtheISLMmodeltotheADcurve o WhyADcurveslopesdownward Whenpriceschange M/Pchange LMshift changerandY ADplotanegativerelationshipbetweenPandY AchangeincomeintheISLMmodelresultingfromachangein thepricelevelrepres
School: FSU
Ch 1 1. The expression, "There's no such thing as a free lunch," implies that -opportunity costs are incurred when resources are used to produce goods and services. 2. Economists use the term ceteris paribus to indicate that -other things are assumed to b
School: FSU
Course: Macro
REAL OPTIONS Options to Abandon, Expand, Contract, and Choose Inputs Expansion Rate 75.0% 75 Contraction Rate 55.0% 55 Expansion Cost $130.0 130 Contraction Savings $75.0 75 Static Project Value Now $146.0 146 Standard Dev (Annual) 63.0% 63 Riskfree Rate
School: FSU
Course: Macro
DEBT AND EQUITY VALUATION Inputs Value of Firm (V) Firm Asset Std Dev (s) Risk-free Rate (kRF ) Two Methods Analogous Inputs for a Black-Scholes Call Option on a Stock $340.00 Stock Price 50.0% Stock Std Dev Face Value of Debt (B) Time to Maturity (t) 5.0
School: FSU
Course: Macro
CORPORATE FINANCIAL PLANNING Cutting Edge B2B Inc. Financial Plan Key Assumptions 2010 Actual Sales Growth Rate Tax Rate Int Rate on Short-Term Debt Int Rate on Long-Term Debt Dividend Payout Rate Price / Earnings 2011 Actual 42.1% 6.5% 7.7% 33.9% 28.8 An
School: FSU
Course: Macro
LIFE-CYCLE FINANCIAL PLANNING Inputs Salary Savings rate Current Tax Rate Retirement Years Tax Rate Current Age Retirement Age Expected Age of Death Rate of Return on Retirement Investments Taxable vs. Traditional vs. Roth Savings $80,000 15.0% 20.0% 25.0
School: FSU
Course: Macro
INTERNATIONAL PARITY System of Four Parity Conditions Inputs $1.3640 13 US Riskfree Rate (Annual) 4.47% 4 US Inflation Rate 2.69% 2 Outputs 4 Eurozone Riskfree Rate (Annual) 4.27% Spot Exchange Rate (1 =) (4) International Fisher Effect (1) Interest Rate
School: FSU
Course: Macro
BREAK-EVEN ANALYSIS Based On NPV (in thousands of $) Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Key Assumptions Sales Growth Rate Change in Sales Growth Rate Inflation Rate Real Cost of Capital Tax Rate 55.0% 2.0% 11.0% 35.0% 2.5% 11.2% 35.0%
School: FSU
Course: Macro
PROJECT NPV Basics (in thousands of $) Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Key Assumptions Unit Sales Inflation Rate Real Cost of Capital Tax Rate 2000 2.0% 11.0% 35.0% 4000 2.5% 11.2% 35.0% 5600 3.0% 11.4% 35.0% 6800 3.5% 11.6% 35.0%
School: FSU
Course: Macro
DU PONT SYSTEM OF RATIO ANALYSIS Basics Inputs Net Profit $82 120.0% Components of ROE 100.0% Pretax Profit $153 EBIT $583 60.0% Sales $3,740 40.0% Assets $5,460 Equity Outputs ROE = Net Profit / Equity Components of ROE: Net Profit / Pretax Profit Pretax
School: FSU
Course: Macro
COST-REDUCING PROJECT Basics (in thousands of $) Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Key Assumptions Inflation Rate Real Cost of Capital Real Growth Rate Tax Rate 3.0% 9.5% 38.0% 2.8% 9.3% 16.0% 38.0% 2.5% 9.1% 13.0% 38.0% 2.2% 9.0% 9.0% 38.0% 2.0%
School: FSU
Course: Macro
r o j e c t FIRM AND PROJECT VALUATION Inputs Five Equivalent Methods ValuationObject Valuation Object Date 0 Proj Investment or Firm Cap Tax Rate Unlevered Cost of Equity Capital Riskfree Rate=Cost of Riskfree Debt Infinte Horizon Growth Rate $800.00 40.
School: FSU
Course: Macro
CAPITAL STRUCTURE $1,300 $1,800 11.00% 7.00% 0.2 Cost of Capital With No Taxes 0.18 0.16 Cost of Capit al Inputs Debt Value Equity Value Unlevered Cost of Equity Capital Cost of Debt Modigliani-Miller With No Taxes Cost of Equity WACC Cost of Debt 0.14 0.
School: FSU
Course: Macro
A 1 2 3 4 5 6 7 8 9 B C D E F G H I J BOND VALUATION Annual Payments Inputs Number of Periods to Maturity (T) Face Value (PAR) 8 8 $1,000 20 2.35% 4 $20.00 4 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 Discount Rate /
School: FSU
Course: Macro
US YIELD CURVE DYNAMICS Inputs Dynamic Chart Month = Nov-87 Static Features: Shape = Upward Row 2 Dynamic Chart of US Yield Curve Dynamics 16% 14% Yield To Maturity 12% 10% 8% 6% 4% 2% 0% 0 5 10 15 20 25 click right arrow = ahead 1 month click left arrow
School: FSU
Course: Macro
THE YIELD CURVE Yield Curve Inputs Today's Date One Month Treasury Bill Three Month Treasury Bill Six Month Treasury Bill One Year Treasury Strip Two Year Treasury Strip Three Year Treasury Strip Four Year Treasury Strip Five Year Treasury Strip Ten Year
School: FSU
Course: Macro
STOCK VALUATION Dividend Discount Model Inputs Levered Cost of Equity Capital Dividend Discount Model Year Dividend Growth Rate Dividend Continuation Value Dividend + Continuation Value PV of Dividend + Contin. Value Stock Value 12.0% 0 $6.64 24 1 12.0% F
School: FSU
Course: Macro
ANNUITY Present Value Inputs Payment Discount Rate / Period Number of Periods $80.00 6.0% 6 5 Annuity 8 5 140 120 100 80 Cash Flows 60 Present Value of Each Cash Flow 40 20 0 0 1 2 3 4 5 Period Annuity Present Value using a Time Line Period Cash Flows Pre
School: FSU
Course: Macro
LEASE VS. BUY Inputs Discount Rate Lease Lease Payment Present Value of Each Cash Flow Present Value of Lease Cost Buy Purchase Price and Residual Value Present Value of Each Cash Flow Present Value of Buy Cost Car 8.0% 0 $4,100 1 2 3 0 $32,000 1 2 3 4 ($
School: FSU
Course: Macro
SINGLE CASH FLOW Present Value Inputs Single Cash Flow Discount Rate / Period Single Cash Flow - Present Value $1,000.00 6.0% 1400 20 1200 1000 6 800 5 600 5 Cash Flows 400 Number of Periods Present Value 200 0 0 1 2 3 4 5 Period Present Value using a Tim
School: FSU
Course: Macro
LOAN AMORTIZATION Basics and Sensitivity Analysis Inputs Loan Amortization $ 50,000 Present value 30 $ 45,000 $ 40,000 $217,832 Interest rate / year 9.27% 8 Payment Interest Component Principal Component $ 35,000 $ 30,000 Number of years 30 30 $ 25,000 $
School: FSU
Course: Macro
NPV USING CONSTANT DISCOUNTING Nominal and Real Rates (in thousands of $) NPV Using Constant Discounti 60 Inputs 40 Inflation Rate 3.0% 20 3 0 Real Discount Rate 4.854% 4 -20 -40 Cash Flow Outputs -60 Nominal Discount Rate -80 Present Va Each Cash -100 -1
School: FSU
Course: Macro
NPV USING GENERAL DISCOUNTING Nominal and Real Rates (in thousands of $) NPV Using General Discounting 60 0 40 20 0 -20 -40 Cash Flows -60 Present Value of Each Cash Flow -80 -100 -120 0 Inputs Period 0 Cash Flows Cumulative Discount Factor Present Value
School: FSU
Course: Microeconomics
Professor: M. Rush ECO 2023 FALL 2013 MIDTERM 2 Read all instructions on this page This test is governed by UFs academic honesty code. It is intended to have 30 multiple choice questions. Please check to be sure your copy has all 30. MAKE CERTAIN THAT YOU
School: FSU
Course: Microeconomics
Professor: M. Rush ECO 2023 FALL 2013 MIDTERM 1 Read all instructions on this page This test is governed by UFs academic honesty code. It is intended to have 30 multiple choice questions. Please check to be sure your copy has all 30. MAKE CERTAIN THAT YOU
School: FSU
Course: Microeconomics
SYLLABUS, ECO 2023 FALL 2013 PROFESSOR: M. RUSH OFFICE: 320 MAT OFFICE HOURS: Thursday, 9:45 to 11:45 Office Hours My office is in 320 MAT. I have scheduled office hours on Thursday from 9:45am to 11:45am. I might change these hours for some weeks, so pay
School: FSU
Course: Microeconomics
I assume that you have read the last essay and know that in an efficient market only new information can change demand and supply and thereby the price. Now, what are the implications of this result? First off, new information will be positive half of the
School: FSU
Course: Microeconomics
What determines the prices of stocks? This answer to this question is complicated. But a simplified answer looks at demand and supply. Demand and supply should be a familiar concept. We know that they determine the prices of goods and services and so, per
School: FSU
Course: Microeconomics
I presume you have read the first two essays I have written about the stock market. In this note I want to cover at a basic level couple of somewhat advanced institutional points, namely short selling and options. I am confident that we all know how an in
School: FSU
Course: Microeconomics
I presume you have read the basic material about the stock market I posted. In this essay I want to develop three additional points. First, I am sure that many of you have heard of the "Dow Jones Industrial Average" (sometimes abbreviated as DJIA) or the
School: FSU
Course: Microeconomics
Every student in my class will need to know about the stock market. I make this blanket statement because UF students will be successful and therefore eventually will need to determine how they will save part of their income. Indeed, many of my students w
School: FSU
Course: Microeconomics
Professor: M. Rush ECO 2023 FALL 2012 FINAL EXAM This test is governed by UFs academic honesty code. It is intended to have 33 multiple choice questions. Please check to be sure your copy has all 33. Chose the best answer for each question. The next is i
School: FSU
Course: Microeconomics
Professor: M. Rush ECO 2023 FALL 2012 MAKE UP EXAM This test is governed by UFs academic honesty code. It is intended to have 35 multiple choice questions. Please check to be sure your copy has all 35. Chose the best answer for each question. The next is
School: FSU
Course: Microeconomics
Professor: M. Rush ECO 2023 FALL 2012 MIDTERM 2 On Campus Exam Read all instructions on this page This test is governed by UFs academic honesty code. It is intended to have 33 multiple choice questions. Please check to be sure your copy has all 33. Chose
School: FSU
Course: Microeconomics
KEY FOR ECO 2023 MIDTERM 1, FALL 2012 On-campus and in-state exam A B C 1 2 3 4 5 A D A A E 1 2 3 4 5 B B A E D 1 2 3 4 5 A E D C C 6 7 8 9 10 A C B C D 6 7 8 9 10 C B C A B 6 7 8 9 10 D B C B A 11 12 13 14 15 A B B B D 11 12 13 14 15 C E D D C 11 12 13 1
School: FSU
Course: Microeconomics
Professor: M. Rush ECO 2023 Fall 2012 MIDTERM 1 On-campus and in-state exam Read all instructions on this page This test is governed by UFs academic honesty code. It is intended to have 33 multiple choice questions. Please check to be sure your copy has a
School: FSU
Course: International Finance
14 - Exchange Rates: Monetary Approach in the Long Run Wednesday, February 09, 2011 3:20 AM 14.2 - Money, Prices, and Exchange Rates in the Long Run: Money Market Equilibrium in a Simple Model What determines P levels? Monetary Theory Prices are determine
School: FSU
Course: Intro To Macroeconomics
SLS 1501 Wintz Due Date: _ Advisor Meeting Reaction Paper & Educational Plan (30 points) Directions: The following will help you in preparing an Educational Plan and preparing for a meeting with an advisor. Please complete the following Education Plan pri
School: FSU
Course: Intro To Macroeconomics
John Panaro Jamie Wintz/SLS1501 April 15, 2008 Reflection Paper: Remember the Titans Remember The Titans is a movie based on a true story about an African American football coach hired at a Virginia school in the segregated times of the early 1970's. Coac
School: FSU
Course: Intro To Econometrics
Acceptance region: The set of values of a test statistic for which the null hypothesis is accepted (is not rejected). Asymptotic distribution: The approximate sampling distribution of a random variable computed using a large sample. For example, the asymp
School: FSU
Course: Macroeconomics
ECO2013 Principles of Macroeconomics Final Exam Study Guide Fall 2010 Semester This study guide is meant to assist with your time management in preparation for the final exam. The section titles from the assigned chapters in Gwartney, et al, Macroeconomic
School: FSU
Course: Microeconomics
Chapter 4 The Labor market: It works the same as the market for goods and services, with just a different name for price and quantity. o Labor demand is downward sloping because as wage decreases, firms will want to employ more people. o Labor supply is u
School: FSU
Old Test Questions ECO 3303 History of Economic Ideas Randall Holcombe Spring 2008 1. (10 points) Mandeville argued that morality and economics are different areas of inquiry, but how did he link together morality and prosperity? 2. (10 points) Sent
School: FSU
Course: Principles Of Macroeconomics
ECO2023 Principles of Microeconomics Final Exam Study Guide Spring 2012 This study guide is meant to assist with your time management in preparation for the final exam. The section titles from the assigned chapters in Gwartney, et al, Microeconomics Priva
School: FSU
Course: Macroeconomics
CHAPTER 7 New residential housing is counted in GDP as a(n) investm ent good. In 2008 in the U.S., the four components of GDP matched up with their relative importance as follows: C: 70 percent of GDP; Which of the following statements about gross domesti
School: FSU
Course: Microeconomics
Professor: M. Rush ECO 2023 FALL 2013 MAKE UP TEST Read all instructions on this page This test is governed by UFs academic honesty code. This test has 34 questions. IF you are using this test to make up for missing either Midterm 1 or 2, answer the first
School: FSU
Course: Microeconomics
Professor: M. Rush ECO 2023 FALL 2013 FINAL EXAM This test is governed by UFs academic honesty code. It is intended to have 34 multiple choice questions. Please check to be sure your copy has all 34. Chose the best answer for each question. The next is i
School: FSU
Economics 4401 Quiz #9 Fall 2011 David J. Cooper Consider the following mechanism for matching men and women together in a 1 1 marriage market. For simplicity assume that the men and women have well behaved preferences (as described in class), assume that
School: FSU
Economics 4401 Quiz #8 Cooper Fall 2011 David J. Consider the matching market with four men, four women, and the following preferences. M1 W3 W2 W1 M1 W4 M2 W1 W4 W2 W3 M2 M3 W4 M3 W1 W3 W2 M4 W4 W3 W2 M4 W1 W1 M1 M2 M4 W1 M3 W2 M3 W2 M4 M2 M1 W3 M2 M1 M3
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Economics 4401 Quiz #7 Fall 2011 David J. Cooper Becca, Jack, and Sarah are trying to wheedle candy out of Meme (their grandmother) after Thanksgiving dinner. Working alone, Becca can get 2 pieces of candy by herself, Jack can get 2 pieces of candy by him
School: FSU
Economics 4401 Quiz #6 Fall 2011 David J. Cooper In class we began our discussion of the First Welfare Theorem. This theorem states that perfectly competitive markets will lead to efficient outcomes. In terms of a model of partial equilibrium, this implie
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Economics 4401 Quiz #5 Fall 2011 David J. Cooper Padma's Pies bakes . cookies (you were expecting something else?). The two inputs that she uses to make cookies are flour (F) and sugar (S). The price of flour is $4/lb and the price of sugar is $4/lb. The
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Economics 4401 Quiz #4 Fall 2011 David J. Cooper Economists have long been interested in the willingness of individuals to donate to public goods. As common examples, think of donations to build local parks or museums. I may get some benefit from my donat
School: FSU
Economics 4401 Quiz #3 Cooper Fall 2011 David J. Albert has 10 hours per week that he can spend playing games. He can either play chess (C) or backgammon (B). It takes him an hour to play a game of chess and 30 minutes to play a game of backgammon. His we
School: FSU
Economics 4401 Quiz #2 Fall 2011 David J. Cooper Sarah spends her allowance buying shoes (S) and dolls (D). Her utility function from consuming these items is the following. U(S,D) = 100(S1/8D1/24) a) b) (4 points) What is MRSSD as a function of S and D?
School: FSU
Economics 4401 Quiz #1 Fall 2011 David J. Cooper Mitt Permann is running for the GOP nomination. He has a budget of $80 million to spend on his campaign. This can be spent on political ads (A) or building an organization (O). The probability of winning (W
School: FSU
Course: Macroeconomics
Macroeconomics Final Exam Study Guide Unit1(Chapters13)[units24below] 1. 2. 3. 4. 5. 6. 7. 8. The study of how individuals make choices that are subject to scarcity o Scarcity is having unlimited wants but limited resources; forces us to ration our resour
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ECO2013 Showman Final Exam Study Guide This guide is intended to help you study, but is not a replacement for reviewing homework assignments and class notes, attending class, or reading the text. The Final Exam will contain 60 multiple choice questions wo
School: FSU
Solutions to Practice Problems for Test 3 1) This problem has a typo. The third return should be -10% instead of 10%. Then calculate the arithmetic average = 9% and the standard deviation = 13.23%. Now figure out how many standard deviations away from the
School: FSU
CHAPTER 5 When a nuclear-powered electrical plant is permitted to dump radioactive waste at no cost into a recreation al waterway lowering the value boaters receive from the waterway, the Answer a. firm's cost of producing electricity will be higher than
School: FSU
Macroeconomics Chapter 16: Creating an Environment for Growth and Prosperity No Economic Growth Growth has exploded during the last 200 years o Per capita income has gone up & life expectancy has gone up Britain & Europe had low incomes & poverty in the
School: FSU
Course: Principal Of Macroeconomics
Chapter 7 Pre- Quiz 1. Which of the following is true of inflation? a. It is measured by changes in the cost of a typical market basket of goods between time periods. 2. Real GDP equals nominal GDP a. corrected for changes in the price level. 3. The consu
School: FSU
Course: Principal Of Macroeconomics
1 Question 600 out of 600 points The short-run aggregate supply curve shows the relationship between Selected Answer: Correct Answer: 2 the general level of prices and the quantity of goods and services that domestic firms will supply. the general level o
School: FSU
Course: Principal Of Macroeconomics
Question 1 600 out of 600 points An abnormally large grain crop due to highly favorable weather conditions in the Midwest is an example of a(n) Selected Answer: Correct Answer: 2 supply shock that will increase short-run aggregate supply. supply shock tha
School: FSU
Course: Principal Of Macroeconomics
Question 1 750 out of 750 points U.S. exports are Selected Answer: included in U.S. GDP because they are produced domestically Correct Answer: included in U.S. GDP because they are produced domestically Question 0 out of 750 points 2 Real GDP per person C
School: FSU
Course: Principal Of Macroeconomics
The primary cause of frictional unemployment is Selected Answer: the lack of and cost of acquiring information about available job opportunities. Correct Answer: 2 the lack of and cost of acquiring information about available job opportunities. Question 6
School: FSU
Course: Principal Of Microeconomics
Econ 2023 Study Guide For Exam 2 Chapter 1 Know that Economics is the study of how we make choices under scarcity o Economics: the study of how we make choices under scarcity. Understand the concept of scarcity o Scarcity: not poverty; necessitates rati
School: FSU
Course: Principles Of Macroeconomics
Econ 2013 Study Guide For Final Exam Chapter 1 Know that Economics is the study of how we make choices under scarcity Understand the concept of scarcity o Scarcity The concept that there is less of a good freely available from nature than people would lik
School: FSU
Course: Principles Of Macroeconomics
Final Exam Study Questions Inthelongruntheprimaryeffectofrapidmonetarygrowthis inflation Ifdomesticproducershaveacomparativeadvantageinproducingagoodthey willbeabletocompeteeffectivelyinacompetitivemarket. Traderestrictionsthatlimitthesaleoflowpriceforeig
School: FSU
Course: Microeconomics
Chapter 4 The Labor market: It works the same as the market for goods and services, with just a different name for price and quantity. o Labor demand is downward sloping because as wage decreases, firms will want to employ more people. o Labor supply is u
School: FSU
Course: Games And Decisions
SP10 Midterm 1 Answers: True or False: T F T F F T T F F F Short Answer: 1. NE = profile of strategies such that each players strategy maximizes his or her payoff given the other players strategies. To be assured of a NE we need to assume the players are
School: FSU
Course: Games And Decisions
Name: _ ECO 4400 Games and Decisions: Midterm 1 You will have 75 minutes to complete this exam. Please allocate your time accordingly and show your work where appropriate. Rational, when used in this exam, means the same as it did when he used it in class
School: FSU
Course: Games And Decisions
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. F F T F F T F F T F 1. NE allows non-credible threats 2. player 1 stops, people usually continue, the problem is that people dont reason with backward induction for more than two or three steps in the future 1. (p/b/s,r) 2.
School: FSU
Course: Games And Decisions
Name: _ ECO 4400 Games and Decisions: Midterm 2 You will have 75 minutes to complete this exam. Please allocate your time accordingly and show your work where appropriate. There are 100 points possible. True or False: (3 pts each) 1. True or False: In a s
School: FSU
Course: Games And Decisions
The final will cover chapters 2,3,4,5,6,7,8,9,11,13. Here is a list of topics from each chapter. The final will focus on material from after the midterm but include material from before. Chapter 2: the properties of Extensive Form Games how to draw a game
School: FSU
Course: Games And Decisions
Ch2 Extensive Form Games, how to draw a game tree given a strategic situation, drawing and understanding information sets, definition of strategy, Normal Form games, how to come up with a normal form game from a strategic situation, changing from extensiv
School: FSU
Course: Intermediate Macroeconomics
ECO4203 Fall 2010 Practice Problems for Quiz 3 1. The I S and LM curves together generally determine: A) income only. B) the interest rate only. C) both income and the interest rate. D) income, the interest rate, and the price level. Use the following to
School: FSU
Course: Intermediate Macroeconomics
Practice for Quiz 2 ECO4203 Chapter 10: Keynesian-cross model and I S curve Dr. Norrbin 1. The simple investment function shows that investment _ as _ increases. A) decreases; the interest rate B) increases; the interest rate C) decreases; government spen
School: FSU
Course: Intermediate Macroeconomics
Practice Problems for Quiz 1 ECO4203 Fall 2010 Dr. Norrbin 1. The total income of everyone in the economy is exactly equal to the total: A) expenditure on the economy's output of goods and services. B) consumption expenditures of everyone in the economy.
School: FSU
Course: Intermediate Macroeconomics
ECO4203: Intermediate Macroeconomic Theory Dr. O Norrbin OLD MIDTERM EXAM 1 Multiple-choice Questions _1. Assume that a tire company sells 4 tires to an automobile company for $400, another company sells a compact disc player for $500, and the automobile
School: FSU
Course: Intro To Econometrics
AdjustedR2():AmodifiedversionofR2thatdoesnotnecessarilyincreasewhenanewregressorisaddedtotheregression. Alternativehypothesis:Thehypothesisthatisassumedtobetrueifthenullhypothesisisfalse.Thealternativehypothesisisoften denotedH1.Basespecification:Abaselin
School: FSU
C hapter 7 GDP is the market value of all final goods and services produced within a country during a specific period. Only final goods and services count: if output is to be measured accurately, all goods and services produced during the year must be cou
School: FSU
Course: Microeconomics
STUDY GUIDE for FIRST EXAM ECO2013-01 SPRING, 2008 Martha Evans, Instructor Note: This study guide is intended to be used as a tool to help you prepare for the test. It is an outline representing the topics that have been emphasized in lecture, the
School: FSU
China 10 Factors of Democratization 1. Elites Commitment to Democracy The governing elites were wholly committed to the imperial system, with its claims to divine legitimating and its Confucius ethos. Very committed to democracy and stability. Somet
School: FSU
Course: State And Local
Practice Problem Set 1 - Public Goods: Private/Public Provision Economics 4554, Spring 2013 These are practice problems. They do not need to be turned in. Some additional resources: For Grubers take on The Mathematics of Public Goods Provision, see the a
School: FSU
Course: State And Local
Problem Set 4 - Asymmetric Information Economics 4554, Spring 2014 Due on Thursday, April 3rd, at the beginning of class. You may (and should) work with classmates, but you must hand in your own answers and write the names of those you work with on your h
School: FSU
Course: State And Local
Problem Set 3 - Voting and Sorting Economics 4554, Spring 2013 Due on Thursday, March 20th, at the beginning of class. You may (and should) work with classmates, but you must hand in your own answers and write the names of those you work with on your home
School: FSU
Course: State And Local
Problem Set 2 - Voting and Sorting Economics 4554, Spring 2013 Due on Thursday, February 13th, at the beginning of class. You may (and should) work with classmates, but you must hand in your own answers and write the names of those you work with on your h
School: FSU
Course: State And Local
Problem Set 1 - Review of Microeconomics/Public Goods Economics 4554, Spring 2013 Due on Thursday, January 23rd, at the beginning of class. You may (and should) work with classmates, but you must hand in your own answers and write the names of those you w
School: FSU
Course: Introduction To Economics
Economics 101 Fall 2011 Homework #6 Due: 12/13/2010 in lecture Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly). Make sure you write your name as it
School: FSU
Course: Introduction To Economics
Economics 101 Fall 2011 Answers to Homework #5 Due 11/17/11 Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly). Make sure you write your name as it ap
School: FSU
Course: Introduction To Economics
Economics 101 Fall 2011 Homework #5 Due: 12/11/2012 Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly). Make sure you write your name as it appears on
School: FSU
Course: Introduction To Economics
Economics 101 Fall 2012 Homework #4 Due 11/20/2012 Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly). Make sure you write your name as it appears on
School: FSU
Course: Introduction To Economics
Economics 101 Fall 2011 Homework #4 Due 11/8/11 Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly). Make sure you write your name as it appears on you
School: FSU
Course: Introduction To Economics
Economics 101 Fall 2011 Homework #3 Due 10/11/11 Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly). Make sure you write your name as it appears on yo
School: FSU
Course: Introduction To Economics
Economics 101 Fall 2012 Homework #3 Due 11/06/2012 Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly). Make sure you write your name as it appears on
School: FSU
Course: Introduction To Economics
Economics 101 Fall 2012 Answers to Homework #2 Due 10/9/12 Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly). Make sure you write your name as it app
School: FSU
Course: Introduction To Economics
Economics 101 Fall 2011 Answers to Homework #2 Due 9/27/2011 Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly). Make sure you write your name as it a
School: FSU
Course: Introduction To Economics
Economics 101 Fall 2012 Answers to Homework #1 Due 9/18/12 Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly). Make sure you write your name as it app
School: FSU
Course: Introduction To Economics
Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly). Make sure you write your name as it appears on your ID so that you can receive the correct grade.
School: FSU
Course: Macro
Marisa Fiumefreddo ECO 201 Mr. Murphy February 22, 2011 Chapter 5 homework 1. (Review Question 5-1) The decrease in production will decrease supply from S0 to S1. The increase in demand for gasoline for vacation travel will increase demand from D0 to D1.
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Chapter 10 Class Exercises Use the following information for the next 4 questions. The following information pertains to the West Division of ABC Company: Operating Assets Net Income Sales Desired Rate of Return $600,000 $150,000 $450,000 15% 1. What is t
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Chapter 6 Class Exercises Use the following information for the next 7 questions. Great Toy Company produces toys. Recently, standard costs have been developed. It should take five pieces of raw material to produce a unit of finished product, and raw mate
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Chapter 4 Class Exercises Use the following information for the next 4 questions. Atlantis Corporation has gathered the following information for the previous year. Sales COGS: $50,000 Direct Materials Direct Labor Variable Overhead Fixed Overhead Operati
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Chapter 3 Class Exercises Use the following information for the next 4 questions. What change (if any) in the following items would cause the breakeven point to increase? 1. Sales price per unit? a. increase b. decrease c. no change 2. Contribution margin
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Chapter 2 Class Exercises Use the following information for the next 4 questions. If the number of units produced and sold (sales activity) decreases, what happens to the following items? 1. Variable cost per unit? a. increases b. decreases c. remains con
School: FSU
Course: Intermediate Economics
Continuous dynamic systems 59 Given linear demand and supply then there is only one xed point. The system is either globally stable or globally unstable. It is apparent from gure 2.16 that the xed point is an attractor, as illustrated in gure 2.16(b). Fur
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Course: Intermediate Economics
58 Economic Dynamics of the attractor, the differential equation has a negative slope. In fact, this is a typical feature of instability/stability. A xed point is unstable if the slope of the differential equation in the neighbourhood of this point is pos
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Course: Intermediate Economics
Continuous dynamic systems 57 Figure 2.15. If any trajectory starting close to a xed point8 stays close to it for all future time, then the xed point is said to be stable. A xed point is asymptotically stable if it is stable as just dened, and also if any
School: FSU
Course: Intermediate Economics
56 Economic Dynamics Figure 2.14. only one xed point, namely p = 0. In the case of the logistic growth equation x (t) = kx(a x) there are two xed points, one at x1 = 0 and the other at x2 = a. In example 2.4 on demand and supply the xed point, the equilib
School: FSU
Course: Intermediate Economics
Continuous dynamic systems 55 Figure 2.13. a variable which is a continuous function of time, t. Let x (t) denote an autonomous differential equation, so that x (t) is just a function of x and independent of t. Assume that we can solve for x (t) for any p
School: FSU
Course: Intermediate Economics
Systems of rst-order differential equations 159 Figure 4.14. vs + vs = 0 and hence 1 2 vs = 1 1 Figure 4.14 illustrates the two eigenvectors associated with the two eigenvalues. Although this illustration had two distinct roots, it is quite clear that for
School: FSU
Course: Intermediate Economics
54 Economic Dynamics express the diffusion process as dN (t) = bN (t)(ln m ln N (t) dt (2.26) or dF (t) = bF (t)( ln F (t) dt Suppressing the time variable for convenience, then the two models are F = (a + bF )(1 F ) and F = bF ( ln F ) Pursuing the logis
School: FSU
Course: Intermediate Economics
158 Economic Dynamics But equation (4.18) will have a nonzero solution if and only if is chosen such that () = det(A I) = 0 (4.19) The values of which satisfy equation (4.19) are called the eigenvalues of the matrix A, and the solution to the system that
School: FSU
Course: Intermediate Economics
Systems of rst-order differential equations 157 Then systems 4.4 and 4.5 are simply specic examples of the homogeneous linear system x = Ax (4.13) while system 4.6 is a specic example of the nonhomogeneous linear system x = Ax + b (4.14) For linear homoge
School: FSU
Course: Intermediate Economics
Continuous dynamic systems 53 2.6 Diffusion models In recent years we have seen the widespread use of desktop computers, and more recently the increased use of the mobile phone. The process by which such innovations are communicated through society and th
School: FSU
Course: Intermediate Economics
156 Economic Dynamics Figure 4.13. II and then into I as it moves towards the xed point. A similar behaviour occurs if the initial point is (x0 , y0 ) = (3, 1) beginning in quadrant III (see exercise 4). Once again the vector forces can be seen in terms o
School: FSU
Course: Intermediate Economics
52 Economic Dynamics Figure 2.12. 3. An inexion occurs at the point t = t0 + a x0 1 ln ak x0 a 2 The logistic curve is shown in gure 2.12. x= Example 2.16 Constant elasticity of demand Let a commodity x be related to price p with a constant elasticity of
School: FSU
Course: Intermediate Economics
Systems of rst-order differential equations 155 Figure 4.11. Figure 4.12. nonhomogeneous autonomous differential equations x = 2x y + 9 y = y + x + 3 The equilibrium lines in the phase plane can readily be found by setting x = 0 and y = 0. Thus x=0 y=0 im
School: FSU
Course: Intermediate Economics
Continuous dynamic systems 51 Hence 1 a dx + x dx = ax k dt + c0 1 [ln x ln |a x|] = kt + c0 a x 1 ln = kt + c0 a ax ln x = akt + ac0 ax Taking anti-logs, we have x = eakt+ac0 = eac0 eakt = ceakt ax where c = eac0 . Substituting for the initial condition,
School: FSU
Course: Intermediate Economics
154 Economic Dynamics Figure 4.9. Figure 4.10. of the system is clockwise.3 This clockwise motion is shown most explicitly by including the direction eld on the equilibrium lines, as shown in gure 4.10. Example 4.6 The two examples discussed so far both h
School: FSU
Course: Intermediate Economics
50 Economic Dynamics It is possible to estimate l0 for an authentic painting. It is also possible to estimate l0 for the lead in the painting under investigation. If the latter is absurdly large relative to the former, then we can conclude that it is a fo
School: FSU
Course: Intermediate Economics
Systems of rst-order differential equations 153 Figure 4.8. No matter what the initial point, it will be found that each trajectory approaches the xed point (x , y ) = (0, 0). In other words, the xed point (the equilibrium point) is globally stable. Consi
School: FSU
Course: Intermediate Economics
Continuous dynamic systems 49 Figure 2.11. Example 2.14 Testing for art forgeries5 All paintings contain small amounts of the radioactive element lead-210 and a smaller amount of radium-226. These elements are contained in white lead which is a pigment us
School: FSU
Course: Intermediate Economics
152 Economic Dynamics the forces are directing the system away from the xed point. We can immediately conclude, therefore, that the xed point cannot be a stable point. Can we conclude that for any initial value of x and y, positioning the system in quadra
School: FSU
Course: Intermediate Economics
48 Economic Dynamics where F [x(t)] = f (x)dx Using this equation we can solve for x = x(t) which gives the general solution to equation (2.19). Example 2.13 Radioactive decay and half-life Equation (2.9) specied the differential equation that represented
School: FSU
Course: Intermediate Economics
Systems of rst-order differential equations 151 Figure 4.6. Consider the rst equilibrium line. Along this line we have combinations of x and y for which x = 0. But this means that for any value of x on this line, x cannot be changing. This information is
School: FSU
Course: Intermediate Economics
Continuous dynamic systems 47 Figure 2.10. But equation (2.18) is just a particular example of a more general differential equation g(t) dx = dt f (x) (2.19) Any differential equation which can be written in terms of two distinct functions f (x) and g(t)
School: FSU
Course: Intermediate Economics
150 Economic Dynamics Figure 4.4. Figure 4.5. or Maple.2 Such a solution path to the system in the (x,y)-plane is illustrated in gure 4.5. This is a specic solution since it satises the initial conditions. But we want to know what is happening to the path
School: FSU
Course: Intermediate Economics
46 Economic Dynamics Figure 2.9. Hence integrating both sides with respect to t gives dx 1 dt = k dt + c0 dt x ln x = kt + c0 x(t) = cekt which gives the solution x(t) = x0 ekt In other words, we could solve x(t) explicitly in terms of t.
School: FSU
Course: Intermediate Economics
Systems of rst-order differential equations 149 Mathematicians have demonstrated a number of properties for the trajectories of autonomous systems. Here we shall simply list them. (1) (2) (3) There is no more than one trajectory through any point in the p
School: FSU
Course: Intermediate Economics
Continuous dynamic systems 45 Figure 2.8. capital/labour ratio: one below the equilibrium level, another equal to the equilibrium level and a third above the equilibrium level. It is quite clear from the solution paths and the direction eld that the equil
School: FSU
Course: Intermediate Economics
148 Economic Dynamics Figure 4.3. If a system has a xed point (x , y ) which is asymptotically stable, and if every trajectory approaches the xed point (i.e. both points close to the xed point and far away from the xed point), then the xed point is said t
School: FSU
Course: Intermediate Economics
44 Economic Dynamics We can summarise the method of isoclines as follows: (1) From the differential equation dy = (x, y) dx determine the family of isoclines (x, y) = m (2) and construct several members of this family. Consider a particular isocline (x,
School: FSU
Course: Intermediate Economics
Systems of rst-order differential equations It should be quite clear from these examples that independent homogeneous linear equation systems have a xed point at the origin. Also, there is only the one xed point. Having established that such a system has
School: FSU
Course: Intermediate Economics
Continuous dynamic systems 43 Figure 2.7. not possible to consider all points in the (x,y)-plane. One procedure is to consider the points in the (x,y)-plane associated with a xed slope. If m denotes a xed slope, then f (x, y) = m denotes all combinations
School: FSU
Course: Intermediate Economics
146 Economic Dynamics Figure 4.2. Example 4.3 We can establish the xed point of the following simultaneous equation system (4.6) x = x 3y y = 2x + y x0 = 4, y0 = 5 by setting x = 0 and y = 0, which has solution x = 0 and y = 0.
School: FSU
Course: Intermediate Economics
42 Economic Dynamics Figure 2.6. Hence, f (x) reaches a minimum at x = x where f (x) cuts the line y = ax/b. It must follow, then, that for x > x , f (x) is positively sloped. This can be veried immediately f (x) = ax bf (x) x > x . implying ax > f (x) or
School: FSU
Course: Intermediate Economics
Systems of rst-order differential equations 145 initial conditions. Of course, with different initial conditions, there will be different trajectories in the (x,y)-plane, but these too will be unique for a given initial condition. 4.2 The phase plane, xed
School: FSU
Course: Intermediate Economics
Continuous dynamic systems 2.4 First-order equations and isoclines For many problems, especially in economics where fairly general equations are used in model construction, it may not be possible to nd the explicit solution to a differential equation. Eve
School: FSU
Course: Intermediate Economics
144 Economic Dynamics Figure 4.1. with solutions t 9e2t 1 4 2 y(t) = 3et x(t) = which clearly satisfy the initial conditions. Eliminating et , we can express the relationship between x and y as x 2, y 3 y = 1 + 4x + 2t which clearly depends on t. This mea
School: FSU
Course: Intermediate Economics
40 Economic Dynamics Looked at from the point of view of a differential equation, we can readily establish that dP = rP dt with solution P(t) = P0 ert Since P0 is the initial payment, then P0 = A in this formulation of the problem. We know that an initial
School: FSU
Course: Principles Of Macroeconomics
ECO 2013 Principles of Macroeconomics Chapter 10 - Dynamic Change, Economic Fluctuations, and the AD-AS Model 5 Learning Goals: #1 - Examine the factors that shift aggregate demand. Chapter heading: Factors that Shift Aggregate Demand List the factors tha
School: FSU
Course: Principles Of Macroeconomics
ECO 2013 Principles of Macroeconomics Chapter 12 Fiscal Policy: Incentives, and Secondary Effects 4 Learning Goals: #1 Explain the crowding-out effect. Chapter heading: Fiscal Policy, Borrowing, and the Crowding-Out Effect Key terms: Crowding-out effect-
School: FSU
CH1 THE ECONOMIC APPROACH *SEE ATTACHED PAGE #1summarych1 A. Scarcity and poverty NOT THE SAME THING, absence of poverty implies that some basic level of need has been met. an absence of scarcity implies that our desire for goods are fully satisfied. We m
School: FSU
Course: Principles Of Macroeconomics
ECO 2013 Principles of Macroeconomics Chapter 11 Fiscal Policy: The Keynesian View and Historical Perspective Important Note: Only read up to page 245 and stop before the section titled The Keynesian Aggregate Expenditure Model 6 Learning Goals: #1 List t
School: FSU
Course: Principles Of Macroeconomics
Chapter 8: Economic Fluctuations, Unemployment, and Inflation 5 Learning Goals: #1 - Characterize fluctuations in economic growth. Chapter heading: Swings in the Economic Pendulum Key terms: Business cycle- Fluctuations in the general level of economic ac
School: FSU
Course: Principles Of Macroeconomics
Chapter 7: Taking the Nation's Economic Pulse 4 Learning Goals: #1 - Define gross domestic product and describe the key phrases of the definition. Chapter heading: GDP- A Measure of Output Key term: Gross domestic product- The market value of all final go
School: FSU
Course: Principles Of Macroeconomics
ECO 2023 Principles of Microeconomics Chapter 8 Costs and the Supply of Goods Note: You may skip the first two Chapter headings titled The Organization of the Business Firm and Costs, Competition, and the Corporation. 7 Learning Goals: #1 - Bring out the
School: FSU
Course: Principles Of Macroeconomics
Macro Final Exam Topics What is Economics About? o Scarcity and choice are the two essential ingredients of economic analysis. o A good is scare when the human desire for it exceeds the amount freely available from nature. Scarcity requires us to choose a
School: FSU
Course: Principles Of Macroeconomics
MACROECONOMICS STUDY GUIDE: Chapter 8: Economic Fluctuations, Unemployment and Inflation: *Normal output/ growth rate of US is typically 3% The Business Cycle: Varies and is unpredictable Unemployment: The total population is typically divided into two ca
School: FSU
Course: Principles Of Macroeconomics
MACROECONOMICS STUDY GUIDE: Chapter 8: Economic Fluctuations, Unemployment and Inflation: *Normal output/ growth rate of US is typically 3% The Business Cycle: Varies and is unpredictable Unemployment: The total population is typically divided into two ca
School: FSU
Course: Principles Of Macroeconomics
P R I N C I P L E S E FALL SEMESTER 2011 O F M A C R O E C O N O M I C S 2 0 1 3 - 0 4 C O N O M I C S DR. JOE CALHOUN FLORIDA STATE UNIVERSITY COLLEGE OF SOCIAL SCIENCES AND PUBLIC POLICY DEPARTMENT OF ECONOMICS HCB 101 Monday, Wednesday & Friday; 1:25 -
School: FSU
Course: State And Local
ECONOMICS 4554, Section 01 Economics of State and Local Governments Syllabus, Spring 2014 Professor Christopher Clapp Email: cclapp@fsu.edu Office: 281 Bellamy, 645-0756 Class meetings: T R 9:30am-10:45am Class location: Bellamy 033 Office hours: T 2:30-4
School: FSU
Course: Principles Of Macroeconomics
PRINCIPLES E OF MICROECONOMICS CONOMICS 2023-02 SPRING SEMESTER 2012 DR. JOE CALHOUN FLORIDA STATE UNIVERSITY COLLEGE OF SOCIAL SCIENCES AND PUBLIC POLICY DEPARTMENT OF ECONOMICS HCB 101 Tuesday & Thursday; 11:00 - 12:15 pm COURSE DESCRIPTION & LEARNING G
School: FSU
Course: Games And Decisions
Prof. John Lightle Email: jlightle@fsu.edu Bellamy Building 255 Office Hours: W,Th 3:30-5:00 Economics 4400: Games and Decisions Fall 2010 Overview: This course is designed to familiarize the student with the tools, techniques, and concepts of game theory
School: FSU
Course: Intermediate Macroeconomics
Florida State University Department of Economics ECO4203: I ntermediate M acroeconomic Theory Spring 2011 Class Times & Locations: Section 01 Section 02 T R 9:30 10:45 a.m. at 203 BEL T R 3:35 4:50 p.m. at 033 BEL I nstructor: Dr. Onnie Norrbin Course Web
School: FSU
Course: Behavioral Economics
Economics 3933: Behavioral Economics Spring 2011 Professor: John Hamman Office: 262 Bellamy, 645-9290 Email: jhamman@fsu.edu Overview: This course explores the connections between economics and other social sciences, primarily psychology. Recent developme