Saturday, December 27, 2014

Christmas Econ

It's a Wonderful Life - Econ Stories

Deck the Halls with Macro-Follies

Market behavior really is motivated largely by the same desire that transformed Scrooge on Christmas morning—the desire to help those who mean the most to us—and that motivation, when directed by the mundane morality of markets, results in our also serving the interests of multitudes of people we will never know. By emphasizing that a good economy, like a good life, is best achieved by the mundane morality of markets coupled with recognition of the motivational importance of magnanimous morality, economists would make a case for the morality of markets that has some of the same emotional appeal as does the transformation of Scrooge in Christmas Carol.

And the economists, oh, the economists, how they counted, and still count. Take up any copy of The American Economic Review to hand (surely you subscribe?) and open it at random. To perhaps Joel Waldfogel, "The Deadweight Loss of Christmas" (no kidding: December 1993; Waldfogel is arguing that since a gift is not chosen by the recipient it is not worth what the giver spent, which leads to a loss compared with merely sending cash. Who could not love such a science of Prudence?

Wednesday, December 10, 2014

Monopoly Cheat Sheet

Monopoly  Cheat Sheet

I just finished this but will work more on it later next week. All the pieces are added but just not quite right. Remember to do all the Multiple choice and the FRQ's before the exam. Questions, comments,,

Thanks Hui Jing Seah

Wednesday, December 3, 2014

Perfect Competition Cheat Sheet

Perfect Competition Cheat Sheet

Again this cheat sheet is no replacement for actually doing all of the Perfect Competition FRQ's and MC questions. It is a good way to check yourself, enjoy. If you need this e-mailed to you, as its a bit hard to read please, ask.

Monday, December 1, 2014

Basics, PPC, Comparative Advantage, Utility, Cheat Sheet

Basics, PPC, Comparative Advantage, Utility,  Cheat Sheet

Don't be fooled. This stuff is more complicated than it looks and it is always on the test.