ECON-C2110 - Intermediate Microeconomics I, Lecture, 4.9.2024-18.10.2024

Topic outline

• Assignments
  Thinking through and working on problem sets is the most important learning method in this course. Most of the “self-study” in the estimated workload (see course syllabus) consists of working on problem sets. The schedule of problem set deadlines is available in the course schedule, which is linked from the course home page. (Working on problem sets is also the best single method of preparing for the exam.) While there is much variability between problems, on average one numbered problem in a set is expected to take about 1-2 hours to complete.

  Homework solutions to each problem set must be submitted in one pdf-file, unless otherwise noted. Add your clearly written student ID on the top of the first page, this makes graders’ work easier. (No need to write your name however.) Make sure to test your scanning quality well before the first deadline. 

  You are allowed and indeed encouraged to discuss the problem sets with fellow students taking this course. However, each solution must be individually written up (with the exception of specifically pointed out Group work). 

  For a solution to be acceptable it must include the explanation behind your reasoning. A mere bottom line answer is not acceptable. You don't need to outline all intermediate steps in a calculation (even if the model solution does) but you do have to explain the rationale behind your calculations. Why did you set up this computation, and what did you find out with it? You can use calculators and computers to aid you as much as you want and also to produce graphs. 

  Multiple attempted answers to one question are not allowed. If you offer two answers in one solution, then even if one of them is correct, you will not get credit for either. Irrelevant off-the point discussions lead to points deductions. If an otherwise reasonable answer includes a part that is sheer nonsense or "hallucination" that makes the entire solution set worthless.

  Standard interpretations
  

  The features explained in the initial part of a problem, before any possible subparts (a, b, c…), applies to the entire problem unless otherwise noted. The features in each subpart only apply to that subpart, unless otherwise noted. If there are further instructions after the list of all subparts these also apply to the entire problem unless otherwise noted. Maximum points for each question are shown in the problem set, they are equally divided between the subparts, unless otherwise noted.

  Unless otherwise stated, you can assume that decision-makers are risk neutral and maximize the present value of their own payoffs (typically profits for firms, utility or consumer surplus for consumers). For discounting purposes, you can assume that future periodic payoffs are realized at the end of a period. In particular, period t=0 refers to now immediately ("current period", "this year", etc), period t=1 to the end of first period, that is, "one period from now", "next year", etc. 
  

  • Select activity Weekly scheduleProblem set questions are based on ...

    Weekly schedule

    Problem set questions are based on material from previous weeks' course topics, with the exception of the last problem set which is due two days after the last lecture.

    There is a 5 point bonus for submitting the problem set in time for the recommended deadline, which is usually on Tuesday 15:00. The final deadline is exactly 24 hours after the recommended deadline. (You can revise your submission until the final deadline, the early bonus is based on the time of your final submission). This is also the time when model solutions are published at MyCourses. After the final deadline submission becomes impossible -- later submissions will not be accepted under any circumstances.

    Points earned from each question will be available usually within one week. Questions regarding the model solutions or grading should be addressed to the course assistant.

    A small number of interactive problems will be done in class. They can sometimes result in bonus points, which can be used to offset points losses in regular problem set questions.

  • Select activity Problem set 1

    

    Problem set 1 Assignment

    Not submitting PS1 amounts to quitting the course. If you wish to remain in the course but for some exceptional reason do not have time to do PS1, then submit at least an empty document before the deadline. This way you ensure continued access to course materials. 
    

  • Select activity Problem set 2

    

    Problem set 2 Assignment
  • Select activity Problem set 3

    

    Problem set 3 Assignment

    09-23 08:25 Notice a typo in Old MS 34c (now fixed) 700 should have been 800.
    

  • Select activity Problem set 4

    

    Problem set 4 Assignment
  • Select activity Problem set 5

    

    Problem set 5 Assignment
  • Select activity Group formation query

    Not available unless: You are a(n) Student

    

    Group formation query Choice

    This choice will be used to form randomly assigned groups for the group assignment.

    If you are part of a group that already formed on its own then choose the option "I'm already in a group." Notice groups must have 3 or 4 members. Members of self-formed groups must register (see separate link "Group assignment").

  • Select activity Randomized Case Groups

    Not available unless: You are a(n) Student

    

    Randomized Case Groups File PDF

    There will be another opportunity for those who did not sign up for group randomization, but would like to. Email a teaching assistant by no later than Wednesday 09-25 if you would like to sign up. The late sign-up groups will be formed on Thursday 09-26.

  • Select activity Group registration (self-formed groups)

    Not available unless: You are a(n) Student

    

    Group registration (self-formed groups) Assignment

    If you formed a group you need to register your group code here. If you are participating in the random group assignment then do not answer this assignment.

    Every member of the group must, of course, submit the exact same code. Groups that do not get 3 or 4 members to register are not valid. The instructions for how to choose your group code are included in the instructions for the Case write-up.
    

  • Select activity Group assignment: the case write-up

    

    Group assignment: the case write-up

    The deadline is on Oct 11th at 16:00. Late submissions will result in an automatic points deduction of 2 points per every full hour. Maximum points is 100.

  • Select activity Old problem set questions

    

    Old problem set questions File PDF

    This covers both parts I & II of the course. The coverage of topics can vary slightly across years

    4.0 MB