Department of Economics. Harvard University. Spring 2011
Answers to Macroeconomics Questions
April 6, 2011
Question 4 (20 points)
(a) (4 points) The Cobb-Douglas CRS production function described in this question is the
standard one from our study of the
Econometrics
Honors Exam Review Session
Spring 2012
Eunice Han
Topics
1. OLS
The Assumptions
Omitted Variable Bias
Conditional Mean Independence
Hypothesis Testing and Confidence Intervals
Homoskedasticity vs Heteroskedasticity
Nonlinear Regression
Answers to Econometrics Questions
Question 7
1a)
Height is in inches, so 5 foot 9 inches=69 inches
The gender gap in earnings = -.820(coefficient on male)+.013 (coefficient on
M*H)*69 = .077. Thus, log (male
Department of Economics. Harvard University. Spring 2011
Answers to Microeconomics Questions
April 6, 2011
Question 1: Game Theory
(a) (8 points) False. Consider the following game:
Firm 1
Enter
Stay out
Firm 2
Enter Stay out
1, 1
3, 0
0, 3
0, 0
Both (ent
Economics Honors Exam 2010 solutions
Macroeconomics (1011b), Professors Aghion and Laibson
Question 6
Essay 1: Compare between the neoclassical and the Schumpeterian theories of convergence.
The neoclassical and the Schumpeterian theories dier both in the
Economics Honors Exam 2010 Solutions: Macroeconomics, Questions 4-5
Question 4 (Macroeconomics, 30 minutes).
This question asks you to
interpret various theories about the current recession using the IS-LM model, the
Phillips Curve, and the data below. Th
Economics Honors Exam 2008 Solutions Question 5
(a) (12 points) Output can be decomposed as
Y = C + I + G.
And we can solve for it by substituting in equations given in the question,
Y
c0 + c1 YD + I + G
=
c0 + c1 (Y T ) + I + G
=
(1 c1 + c1 t1 )Y
C +I +G
Department of Economics. Harvard University. Spring 2011
Honors General Exam
April 6, 2011
The exam has three sections: microeconomics (Questions 13), macroeconomics (Questions 4
6), and econometrics (Question 7). Each section of the exam is of equal poin
Econometrics (60 points)
Question 7: Short Answers (30 points)
Answer parts 1-6 with a brief explanation.
1. Suppose the model of interest is Yi = 0 + 1X1i + 2X2i + ui, where E(u|X)=0 and E(u2|X)=
and X1 and X2 are uncorrelated in your sample. Will the bi
Economics Honors Exam 2009 Solutions: Macroeconomics, Questions 4-5
Question 4 (Macroeconomics, 30 points). The relationship between China
and the United States is often in the news. To refresh your memory, here are four
facts about the Chinese economy:
Economics Department 2007 Honors General Exam
This is a 3-hour exam. (For joint concentrators with economics as the secondary
eld, this is a 1-hour exam. Choose one section of the exam to complete, and turn
in your bluebook one hour after the exam begins.
Department of Economics
Harvard University
Honors General Exam
April 4, 2012
The exam has three sections: microeconomics (Questions 13), macroeconomics
(Questions 46), and econometrics (Questions 78). Each section of the exam is of
equal point value. Thus
ECONOMETRICS
HONORS EXAM REVIEW SESSION
Eunice Han
[email protected]
March 26th, 2013 Harvard University
Information
2
Exam: April 3rd 3-6pm @ Emerson 105
Bring a calculator and extra pens.
Notes are not allowed.
There is no surprise in the exam. Use p
Part I (24 points)
Please answer these questions in Blue Book I
The questions in Part I refer to the results in Tables 1 and 2.
1) Using regression (1) in Table 1:
a. (2 points) What is the estimated effect on the childs years of education of a
mother who
1
1.1
Macro Question 1
(1 point)
k = sk
1.2
( + n) k
(2 points)
The Solow model shows that the saving rate, s, is a key determinant of k*. If s
is high, the economy will have a large capital stock and a high level of output.
If s is low, the economy will
Economics Honors Exam 2010 Solutions: Econometrics, Question 8
This question consists of two subquestions, each worth 30 points.
The answer keys below are suggested solutions, and students may propose alternative answers. As long as they provide valid arg
Economics Honors Exam 2010 Solutions: Microeconomics
Questions 1-2
Question 1 (Microeconomics, 30 minutes). Consider a small exchange economy
with two consumers, A and B, and two commodities, x and y.
Consumers A and B have preferences
uA ( x A , y A ) =
Review Section Questions
Morten Graugaard Olsen
April 14, 2009
1
Questions and Answers received since the review section
Question: What if the rate of growth of E was g instead of 0? How would we have solved part a for the steady
state income per worker a
Question 2, Micro 30 points
a) Payo Matrix (7 points):
Without loss of generality, we normalize the utility of getting nothing to 0. Using the
assumption that utility only depends on ice cream, payos are symmetric across the pure
strategies of the other p
Question 5
May 1, 2007
a. (4 points) Capitalists have to solve the following maximization problem:
t+1 u(ct ),
Max
t=1
where ct = (1 )rkt1 + kt1 kt (kt is the capital owned by a capitalist at
time t).
The rst order condition for this maximization problem
Economics Honors Exam 2007 Solutions Question 3
(a) (8 points) The Edgeworth box is a rectangular diagram with consumer A origin on one
s
corner and consumer B origin on the opposite corner. The width of the box is the total amount
s
of good x, and the he