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Decks in this class (25)
Exam
What is economics,
What is microeconomics 5,
Economics vs chemistry 7
188
cards
Introduction to Economics
What is economics,
What is microeconomics 5,
Economics vs chemistry 7
14
cards
Consumer Preferences
We suppose that our abstract cons...,
Utility definition,
What are the units of utility
7
cards
Indifference Curves
The shape of the indifference cur...,
Utility as a function of one good...,
Utility as a function of two good...
3
cards
Budget Constraint
The choices which we make as cons...,
Suppose that p1 5 and p2 10 then ...,
The budget constraint graphically...
5
cards
Optimal Consumption
Preferences and budget,
Possible choices,
Change in prices
4
cards
Is Optimizing Realistic?
If the utility which we derive fr...,
The amount of satisfaction depend...,
A consumer s preferences are ____...
4
cards
Alternative Descriptions of Consumer Behaviour
What is optimal rational,
Procedural rationality what is it,
What is a heuristic
6
cards
Firm Behaviour
What is a producer,
A,
A firm would typically have to ma...
7
cards
Pricing
The objectives of firms are likel...,
Are firms price takers,
Cost plus pricing
11
cards
Game theory
What is a game,
Competition between two firms,
The possible outcomes of a game a...
14
cards
Markets and Competition
What is a market,
Demandthe amount someone would wa...,
Is there a demand curve
10
cards
Economic Policy - Regulation of Firms
Why can a monopoly be harmful,
Regulationgovernments typically a...,
Where a monopoly is allowed to ex...
11
cards
Economic Policy - Public Goods
What two characteristics does a p...,
What is the difference between a ...,
Why are public goods a matter of ...
5
cards
Economic Policy - Cost Benefit Analysis
A policy maker will typically be ...,
Externalities ias well as the cos...,
Externalities iithe social benefi...
10
cards
Economic Policy - Economic Policies
Property rights,
Public provision,
Taxes and subsidies
6
cards
Economic Policy - Inequality and Poverty
What is poverty world banks thres...,
W,
Ha
5
cards
Measuring the Economy
What is macroeconomics,
What is agent based macroeconomics,
Why is macroeconomics
12
cards
Measuring the Economy: Limitations of GDP and Cost of Living
Nominal gdpwhat is the formula,
Price changes100 025 5 10 75 gdp0...,
Constant price gdpone means to ca...
7
cards
Money and Banking
When might money be valued and us...,
If money is a means of payment an...,
The hierarchy of liabilities is r...
10
cards
Monetary Policy: Implementation
Bank regulation ia commercial ban...,
Bank regulation iiwhat does the a...,
Government bonds iwhat is a gover...
9
cards
Quantitative Easing
Given the above it could be sugge...,
Portfolio rebalancing ii nb while...,
Signallingit can be argued that w...
8
cards
The Open Economy - Balance of Payments
The total flows between countries...,
Financial flows between countries...,
Link between current account and ...
9
cards
The Open Economy - Exchange Rates
What does it mean to describe an ...,
Reasons to demand a currency trad...,
Reasons to demand a currency inve...
9
cards
The Open Economy - Trade Policy
Ways to stop current account defi...,
The world trade organizationcount...,
Bilateral trade agreementsthe wto...
7
cards
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Y1 - Introductory Economics
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