***Official 2009 Spring Semester*** Econ Homework & Test Question Thread

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01-07-2009 , 04:01 PM

The 13th 4postle

banned

Join Date: Oct 2006 Posts: 11,244

ITT go ahead and ask an Economics question you may have and I along with others will try to answer your question or at least lead you in the right direction.

A lot of the posters here are students and I think this will help us out a lot this semester. This is kind of a big study group.

I have no questions at this time. My schedule so far is

ECO3223 [02] - FIN MKT/BANK/MON POL
ECO4421 [03] - INTRO TO ECONOMETRIC
ECP3403 [01] - BUS ORG & MKT STRUC
ECP3451 [01] - ECONOMICS THE LAW

01-07-2009 , 10:12 PM

Karak

ELIte

Join Date: May 2004 Posts: 62,726

I've taken several econometrics courses. If you enjoy statistics, then you will love that course.

01-08-2009 , 08:10 PM

The 13th 4postle

banned

Join Date: Oct 2006 Posts: 11,244

I like statistics and luckily Im taking it with a smart friend of mine but the teacher is Indian and hard to understand.

01-10-2009 , 03:15 PM

clowntable

Carpal \'Tunnel

Join Date: Jun 2006 Posts: 45,557

I'll have a close eye on this thread just to see what's being taught these days. Obviously going to try and help but maybe my input is not going to be all that helpfull.
I really hope there will be no needless trolling and off topic stuff, I'll try hard not to wander off topic and I urge everyone to do the same.

01-10-2009 , 04:12 PM

philnewall

veteran

Join Date: Apr 2003 Posts: 2,272

I've got one.

Utility function U(x)=ln(x/t)
game Y=exp(X) Where X~N(mu,sigma^2)

find the certain monetary equivalent (CME) for the game.

I used CME=E(Y) - Risk Premium(RP)

found E(Y) from expectation of a lognormally distributed r.v = exp(mu +(sigma^2)/2)

and used the Arrow-Pratt approximation for the risk-premium:

RP = 1/2*(sigma^2)*A(x)

where A(x) is the coefficient of absolute risk aversion.

It's all pretty messy, there's got to be a better way right?

01-10-2009 , 06:48 PM

econophile

Carpal \'Tunnel

Join Date: Jul 2005 Posts: 11,319

An easier way to think about the certainty equivalent is in terms of utility rather than money. Call Z the certainty equivalent. Then Z is defined by

U(Z) = E[U(Y)]

So the first step is to find the expected utility of game Y.

01-11-2009 , 10:30 PM

tubasteve

Carpal \'Tunnel

Join Date: Oct 2005 Posts: 14,283

taking game theory, and public, environmental , and labor econ. semester doesnt start for a few weeks though.

01-12-2009 , 02:37 AM

clowntable

Carpal \'Tunnel

Join Date: Jun 2006 Posts: 45,557

Environmental economy sounds like it would tilt the hell out of me

Game Theory is fun though. "The Complete Strategyst" is one of my all time favourit superlowlevel explaination books of all time. Maybe only rivaled by "The Accounting Game".

01-12-2009 , 02:42 AM

The 13th 4postle

banned

Join Date: Oct 2006 Posts: 11,244

FWIW I thought that the ECO Compassion would be some BS socialist class and it turns out that the textbook for one of the sections is The Ethics of Liberty by Rothbard.

01-12-2009 , 03:11 AM

#10

tubasteve

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i think i would splooge myself if i found out we were reading rothbard in one of my classes just due to the surprise

01-12-2009 , 03:39 AM

#11

popoko42

veteran

Join Date: Mar 2008 Posts: 2,057

i'm a prospective econ major for next year when i go to college. i have a couple questions.

is econ class more like math class or history class?
how much superintensive, calculus-like math does an econ major do?
does econ math more like statistics math or calculus math?
would you recommend macro or micro and why?
worst types of econ classes (the specific classes aside from macro or micro)?
best types of econ classes?
is more of your homework time spent doing reading or problem sets?
are econ tests essay writing tests or mathy tests or multiple choice tests with both?

01-12-2009 , 06:18 AM

#12

nufc4ever

journeyman

Join Date: Nov 2006 Posts: 394

From the UK so the module system is slightly different but its pretty tilting that 1.5 years into the degree and no heterodox economics has even been mentioned.

This semester im doing:

Statistical methods for Economics (such a joke)
Microeconomic Analysis
Macroeconomic Analysis
Futher Mathmatical Methods for Economics

01-12-2009 , 07:06 AM

#13

_Steven Levitt_

adept

Join Date: Feb 2008 Posts: 1,072

Fellow UK person here, final year.

-Topics in Economic Analysis (supposedly toughest unit on ug course catalogue)
-Economics of Corporate Finance
-Mandarin pt II

Now applying for MA/Msc courses, yawn.

01-12-2009 , 11:00 AM

#14

econophile

Carpal \'Tunnel

Join Date: Jul 2005 Posts: 11,319

Quote:

Originally Posted by popoko42

more like math, but economic history and history of economic thought will be more like history.

probably not much, but this depends on the program. the math prerequisites for an economics major should give you some idea.

you'll have to take intro and intermediate courses in both macro and micro. after that you should be able to decide.

hard to generalize about a worst class.

best classes are probably small classes where you can focus on an issue that really interests you.

problem sets.

a mix of essays and math problems, with multiple choice if the prof is lazy.

01-12-2009 , 02:00 PM

#15

The 13th 4postle

banned

Join Date: Oct 2006 Posts: 11,244

Quote:

Originally Posted by econophile

This.

01-13-2009 , 11:49 AM

#16

Your Mom

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Join Date: Jan 2003 Posts: 13,450

I graduated with an econ minor, which I thought was pretty fun. It was pretty easy to get, so I didn't delve too much into any complex theory. What are all of your post school plans with econ degrees?

01-13-2009 , 01:47 PM

#17

qdmcg

Pooh-Bah

Join Date: Oct 2006 Posts: 4,870

last semester, gogogogo

econ classes:
International Money and Finance
Industrial Organization
Game Theory for Economists

other:
Finance
Marketing
Organizational Behavior (wat)

01-13-2009 , 07:02 PM

#18

tubasteve

Carpal \'Tunnel

Join Date: Oct 2005 Posts: 14,283

Quote:

Originally Posted by Your Mom

My 'dream' job would be to continue coaching/playing poker and write for an economics blog on the side or something like that. But who knows, I hate planning things in advance.

01-14-2009 , 12:42 AM

#19

Seether

old hand

Join Date: Jun 2004 Posts: 1,741

Quote:

Originally Posted by tubasteve

My 'dream' job would be to continue coaching/playing poker and write for an economics blog on the side or something like that. But who knows, I hate planning things in advance.

I'm pretty sure you are going to be dealing with diminishing returns in the poker field long term. I could be wrong but I think you should consider other options or at least expand into some other personal businesses.

01-14-2009 , 04:00 AM

#20

tubasteve

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Join Date: Oct 2005 Posts: 14,283

Quote:

Originally Posted by Seether

I'm pretty sure you're wrong about poker (China and India plus possible US regulation, plus the games were supposed to die a year ago and haven't), but you're still right about expanding regardless.

01-14-2009 , 04:04 AM

#21

tubasteve

Carpal \'Tunnel

Join Date: Oct 2005 Posts: 14,283

Also keep in mind I said my 'dream job', but I don't really know if I'll even be interested in poker in 5 years. I'm also considering grad school after getting an encouraging email from a prof this past semester.

01-14-2009 , 02:50 PM

#22

Seether

old hand

Join Date: Jun 2004 Posts: 1,741

Quote:

Originally Posted by tubasteve

I'm pretty sure you're wrong about poker (China and India plus possible US regulation, plus the games were supposed to die a year ago and haven't), but you're still right about expanding regardless.

I'm pretty China and India should be more of your fears than your future basis of poker success. There are already people getting paid peanuts to get items in online video games. You don't have to be a genius to win at poker and when the potential earnings are far higher than what they could earn in numerous much more difficult jobs, there will be many smart people attracted to poker. To be honest I'm quite shocked to hear that someone would consider them entering the poker world would be a boon for current grinders.

01-15-2009 , 09:24 AM

#23

tubasteve

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Join Date: Oct 2005 Posts: 14,283

There are 2.5 billion of them...

Also, gold farming WoW != poker. Its not even close.

01-15-2009 , 11:28 AM

#24

econophile

Carpal \'Tunnel

Join Date: Jul 2005 Posts: 11,319

tuba,

get back to us once you've covered self selection in econometrics.

01-15-2009 , 01:02 PM

#25

clowntable

Carpal \'Tunnel

Join Date: Jun 2006 Posts: 45,557

Quote:

Originally Posted by tubasteve

My 'dream' job would be to continue coaching/playing poker and write for an economics blog on the side or something like that. But who knows, I hate planning things in advance.

Planning is overrated. Read some Mintzberg

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