Econ1012 Study guides, Study notes & Summaries

Detailed and in-depth notes of Chapters 4-8, covering the content for ECON1012/1013 (Microeconomics). These colourful summaries contain all the important information from the prescribed textbook and include various diagrams to aid understanding. NOTE: Please read the disclaimer very carefully and act accordingly.

Detailed and in-depth notes of Chapters 1-4, covering the content for ECON1012/1013 (Microeconomics). These colourful summaries contain all the important information from the prescribed textbook and include various diagrams to aid understanding. NOTE: Please read the disclaimer very carefully and act accordingly.

Detailed and in-depth notes of Chapters 8 and 9 AND a complete overview comparing the four market models (Perfect Competition, Monopolistic Competition, Monopoly and Oligopoly), covering the content for ECON1012/1013 (Microeconomics). These colourful summaries contain all the important information from the prescribed textbook and include various diagrams to aid understanding. NOTE: Please read the disclaimer very carefully and act accordingly.

exam questions and answers

The notes are taken by Pearson's Macroeconomics book and some points my instructor told about during the classes.

1. Consider the following cases and indicate for each case the direction and amount of changes in NX and NCO for the U.S. (e.g. NX decreases by $2, NCO increases by $3, etc.). Please circle your final numerical answers and explain how you arrived at the numerical answers. a. The Norwegian government uses $500,000 of previously obtained U.S. dollars to buy $500,000 of police cars from a U.S. company When the Norwegian government buys $500,000 USD of police cars, U.S. exports, and NX increases, f...

Constant (increasing, decreasing) returns to scale imply that proportionate increases in inputs lead to the same (more than, less than) proportionate increases in output. If we were to increase labor and capital by the same proportionate amount (l) in this production function, output would change by the same proportionate amount: lQ = 100(lK) 0.8 (lL) 0.2, or lQ = 100K0.8 L0.2 l(0.8 0.2) = Ql Therefore, this production function exhibits constant returns to scale.

A must-have cumulative study guide of everything covered in Tien's notorious ECON class (got me an A-!) This study guide is well-organized, covering all 6 major topics and their subtopics, including FORMULAS, IDs, and GRAPHS from professor Tien's powerpoint presentation. It is also a collective work of 5 students in the Spring 2019 class, all averaging at B (the class that she failed 160 students during one of our exams). This study guide will ensure your success in the class, best of luck!

In the money market model, money demand depends negatively on the value of money, holding income constant. Suppose income decreases overall, how would this impact money demand? Please specify whether money demand increases or decreases, and explain briefly. As people income decreases, the volume of their transactions decreases because they do not have as much money to allow for purchases of goods and services (money as a medium of exchange), which decreases the demand for money. Illustrate th...