Eco 590, J. Sandford, fall 2011
September 10, 2011
Homework 1
due Friday, September 9 by 3pm
Problem 1 Answer the following questions about nite sets:
a. Show that every nite set A R is closed.
Pick any point x in Ac . Let 2r = minyA |x y |. Then, B (x, r
N F R Crafts: Economic Growth during the long twentieth century in R. Floud, J. Humphries
and P. Johnson (eds.), The Cambridge Economic History of Modern Britain: Volume 2, CUP
2014.
Crafts focuses on Britains economic growth and productivity growth from
R.C.O. Matthews et al. MFOS (1982): British Economic
Growth, Oxford University Press - Chapter 14, International
Aspects: Introduction
Model Of Relationships Between Growth and International Economic Transactions
Introduction
In this Chapter MFOS consider
Solomou, S. (1990). Phases of economic growth, 1850-1973:
Kondratieff waves and Kuznets swings. Cambridge University
Press, Chapter 1
The irregular course of economic growth throughout history has prompted different explanations
of the causal mechanisms u
Solomou, S. (1990). Phases of economic growth, 1850-1973:
Kondratieff waves and Kuznets swings. Cambridge
University Press.
Definition of Kuznets swing/long-swing:
The swing is greater in length than the trade cycle, but shorter in length than the Kondrat
Eco 590, J. Sandford, fall 2011
October 29, 2011
Midterm #2
date: k periods before Apocalypse
Instructions:
Each of three questions is worth 25 points. You have 75 minutes to complete the exam.
Make sure to fully support your answers. Note that there are
Eco 401, J. Sandford, fall 2011
November 7, 2011
Dynamic optimization project
due 12/13/11, by 12:30pm
Assignment: Invent, describe, and numerically solve a dynamic optimization problem. I expect some
degree of originality and/or creativity in your choice
Eco 590, J. Sandford, fall 2011
November 30, 2011
Homework 5
answers
Problem 1 (hyperbolic discounting) Economists say that hyperbolic discounting describes the behavior of someone saying today Ill spend, and tomorrow Ill save or Ill eat a big meal today,
Eco 401, J. Sandford, fall 2011
October 25, 2011
Homework #4
due 10/25/11, in class
Problem 1 Consider the 4 x 5 matrix A given below. Consider the problem of nding a path which starts
at A11 (upper left corner) and ends at A45 (lower right corner) which
Eco 401, J. Sandford, fall 2011
October 29, 2011
Homework #3
answers
Problem 1 Let T be some nite integer. Solve the following maximization problem:
T
max
cfw_x t
T
xt
xt 1,
subject to
t=1
t=1
xt 0, t = 1, 2, ., T
Note that this is exactly a CES utility
Eco 590, J. Sandford, fall 2011
September 24, 2011
Homework 2
due Tuesday, September 20 in class
Problem 1 Answer the follow three questions by giving specic examples, and proving that your examples
have the desired properties.
a. Give an example of a fun
N.F.R. Crafts and Mills T. C.: Was 19th century British
growth steam-powered? the climacteric revisited,
Explorations in Economic History (2004)
Aim of paper
To show that there are serious problems with the hypothesis that the Victorian
climacteric was dr