PPT-EC102: Class 10

Christina Ammon Notes on the Problem Set Two grades One for multiple choice and one for Essay questions put most of the weight on essay for final grade For exam would have all been saved by multiple choice. STEP CLASS 1 CLASS 2 CLASS 3 CLASS 4 CLASS 5 CLASS 6 1 41,695 41,970 42,246 42,797 43,347 43,898 2 41,970 42,246 42,797 43,347 43,898 44,450 3 42,246 42,797 43,898 44,450 45,000 45,550 4 42,797 43,347 2. Christina Ammon. Question 1. “. Victoria and Albert are fond of vintage records and tapes. Records cost £20 apiece; tapes cost £4 apiece. Victoria consumes both records and tapes. Albert consumers only tapes. Hence:. Christina Ammon. Basic information. (Kerstin) Christina Ammon. K.c.ammon@lse.ac.uk. Office hour: . . Monday 13:30-14:30. LG32 1.30. Pigeon Hole in LG32 1.01. Administration. Complete Moodle Quizzes – it can only help you . Christina Ammon. Financial Systems. Financial systems: . the institutions in the economy that facilitate the . flow . of funds between . and . among households and firm. Financial markets vs. financial intermediaries. Christina Ammon. Elasticities. Own price . elasticty. =. the percentage change in the quantity demanded of a good when its price changes by 1 per cent . . Types . of . Elasticities. Own-price elasticity. Christina Ammon. The Firm/ Production. What is the aim of the firm? . Profits=Revenue-Total Economic Costs. Revenue=Price*Quantity. Total Economic Costs:. Concepts:. Total Economic Costs & Sunk Costs vs. Fixed and Variable Costs. 7. Christina Ammon. Overview. Fill out evaluation. Moodle Quiz 7. If time: one question from old problem set. Question . 1. In . this figure consumer surplus, producer surplus and total surplus are respectively represented as areas: . 8. Christina Ammon. Question . 1. Consider the initial situation of the tablet market in which Apple is a monopolist thanks to its . Ipad. . Suppose that Apple spends £2,000,000 on a new advertising campaign in the UK. As a result, the demand for . Christina Ammon. Overview. Collect Problem Set . Can also leave in pigeon hole until 5pm . sharp (. or email). Will go over parts next week in class. Today: Quiz 5. Continue with cost . minimisation. Christina Ammon. Overview. Will go through one question today as an example of what to . do + common mistakes. Will go through one more next week. Moodle Quiz 6. Common Mistakes/Tips. Expected to write half a page for each 5 point sub-question. 9. Christina Ammon. Game Theory - Concepts. Players. Actions. Strategies. Pay-offs. Nodes. What do we assume abou. t the information set?. An equilibrium is described in terms of strategies not in terms of pay-offs. 9. . LT. Christina Ammon. Financial Systems. Financial systems: . the institutions in the economy that facilitate the . flow . of funds between . and . among households and firm. Financial . markets vs. financial intermediaries. 1 LT. Christina Ammon. Overview. Each class we cover the quiz and the essay. Sometimes will not have enough time for both – priority given to essay. Will collect all essays each week, but mark one or two each week. Inheritance is a Method of Code Reuse. Inheritance can be an effective method to share code between classes that have some . attributes . in common, . Java . inheritance.  refers to the ability in Java for one class to inherit from another .