Problem Set 5
Eric Li and Brennan King
May 27, 2014
1
Markov Chain
a. The transient states are represented by the set cfw_s 2 ,s 4 ,s 6 . The ergodic set is cfw_s 1 ,s 3 ,s 5 .
b. Let X be the transit
Dynamic Programming
The rst thing a student must be comfortable with is writing down a problem under a sequential form
containing : the objective function to maximize, the constraints on the problem
Problem Set 4
Eric Li
May 20, 2014
1
Uniform Measure
In class we dened the uniform metric as a function : S S R, where S is the set of functions from some
X to R, as (v, w) = maxxX |v(x) w(x)|. We wil
Econ 202 Honors: Solutions for Pset 6
1.
a. Let pi and xi be the prices and payos of the Arrow-Debreu security in state i. Also, let i be
the probability that state i occurs in period 2. Then the agen
Section 1 Aggregates
The objective of this section was to level the eld so that every student would have a basic understanding
of the concepts used in the class. The important concepts for the midterm
ECON 20210: Problem Set 1
Francisco Meyer
April 10, 2014
1
GDP and Detrending
The Excel le used for all data processing in this exercise is attached to this problem set as a separate appendix. All
val
Problem Set 2
Eric Li
April 24, 2014
1
1.1
CARA
We show that U (C ) = 1 eC has constant absolute risk aversion.
A(C ) =
2 eC
U (C )
=
=
U (C )
eC
which is a constant.
1.2
We now want to show that if
Econ 202 Honors Pset 3: Hyun Soo Doh
1. 1.1 A competitive equilibrium is an allocation of consumption, labor and capital cfw_c, n and a set of
relative prices to consumption of labor and capital cfw_w
Econ 20210 Notes 5: Economies with Overlapping Generations
Karthik Nagarajan
University of Chicago
Winter 2017
Reading List
Recommended
1. Acemoglu, Daron. Introduction to modern economic growth. Prin
Econ 20210 Notes 2: Economic Growth Facts and the Solow Model
Karthik Nagarajan
University of Chicago
Winter 2017
Reading List
Recommended
1. Barro, Robert J. Macroeconomics: a modern approach. Thomso
Econ 20210 Notes 6: Introduction to Dynamic Programming
Karthik Nagarajan
University of Chicago
Winter 2017
1
Motivation: A Model of Search
Well begin this section by introducing a model of undirected
Econ 20210 Notes 3: The Neoclassical Growth Model
Karthik Nagarajan
University of Chicago
Winter 2017
Reading List
Recommended
1. Barro, Robert J. Macroeconomics: a modern approach. Thomson South-West
Econ 20210 Notes 1: Introduction to Macroeconomics
Karthik Nagarajan
University of Chicago
Winter 2017
1
What is Macroeconomics?
Macroeconomics is generally defined as the study of the aggregates of a