Global Integration of Latin America

International Trade

Market Imperfections and Policy

Microeconomics A

Principles of Macroeconomics

front desk Econ 3 Principles of Economics: Macroeconomics Please sit in your assigned seat. If your name does not appear to the left, come to the front. A 3 Bice, Emmylou Ann B 3 Castaneda, James Evan D 3 Chong, Daniel Yoonkyung E 3 Chung, Chan Woo A 4 De La Torre, Luis Alfredo B 4 Dionisopoulos, James George D 4 Dykstra, Maverick James E 4 Espinoza, Jehoan Jovanny A 5 Garcia, Adrienne Rachel B 5 Garcia, Quetzali D 5 Goodstein, Grant M E 5 Gu, Yishan A 6 Hsu, Norman B 6 Huey, Andrew D 6 Lan, Yu E 6 Layman, Laura Anne A 7 Li, Mengyuan B 7 Li, Paul Thomas D 7 Lim, Linda Yap E 7 Liu, Yinan A 8 Martinez, Amanda E B 8 Mendoza, Viridiana Arisbeth D 8 Moshiri, Alexander Niema E 8 Narsian, Anish Sagar A 9 Pham, Victoria Tu-Anh B 9 Prijatel, Alan John D 9 Sahni, Anjleena Kour E 9 Sherlock, William Joseph A 10 Singletary, Ashley Marie B 10 Sparhawk, Samuel Kenneth D 10 Tang, Xuantao E 10 Tran, Quynh Giao Thi B 11 Tuan, Benjamin D 11 Wei, Yucong E 11 Xu, Canchu B 12 Xu, Zixin D 12 Yang, Yichao E 12 Yoon, Dayoung B 13 Zhao, Youran Today we’ll begin with a clicker quiz.  Clicker frequency: AB  Ch. 15 Spending, Income and GDP  Ch. 16 Inflation and the Price Level  We’ll have three multiple choice questions, which should be easy if you’ve  Read the chapters  Watched the video Let’s make sure your clickers are working.  How long did it take you to do the assigned reading and watch the videos? A. Less than 30 minutes B. 30 minutes – 1 hour C. 1 – 2 hours D. 2 – 3 hours E. I don’t know how to read This question will serve as a buffer of +1 on your first quiz.  Now we’ll start.  We’ll do three multiple choice questions 1-by-1  We’ll go over answers after all are done Question 1 Which of the following is not an essential piece of information when measuring GDP? A. The market value of the goods and services in question. B. Whether goods are final or intermediary. C. The rate of inflation. D. The period of time. Question 2 What is “held constant” when real GDP is calculated? A. Quantity B. Price C. Inflation D. More than one of the above is correct Question 3 Zimbabweans prefer to hold little cash because the rate of inflation is so high. What type of “cost of inflation” does this cause? A. Noise in the price system B. Distortions of the Tax System C. Shoe-leather costs D. Unexpected redistributions of wealth Great job!  This is how class will begin most mornings  Low pressure – just make sure you’ve done readings and watched videos  Let’s go over answers quickly

ECON | 3 | Principles of Macroeconomics | lecture notes | front desk Econ 3 Principles o

Lecture_14_-_Costs_and_Benefits_of_Trade_Restrictions.docx-Lecture 14 - Costs and Benefits

ECON | 100A | Microeconomics A | study guides | 

Lecture 11 - Diverse Firms, Trade, and Reallocation  Heterogeneous Firms and Trade o In practice, nontraded varieties arise even within industries o Non-exporters and exporters coexist o What explains their different trading behavior? o Firms differ in innate individual characteristics: consumer appeal, quantity, productivity o Revisit monopolistic competition, with diversity in marginal costs o If country opens for trade, the top companies jump on it and gain, while the lower companies, not so much  However, the average productivity of the labor increases overall!  The bad firms shrink, the good firms expand, so economy gains as a whole  Superior Exporter Performance o Superior Exporter Performance : Is it learning from exporting? Or is it the sorting of the highly competitive firms into export markets? o Evidence points to the sorting of the most competitive firms into export markets o Only the highly competitive firms can generate the revenues and profits to cover the fixed costs of exporting o Melitz (2003): Firm dynamics and trade openness  Heterogeneous Firms and Export-market Entry o Basic ingredients (assumptions):  Number of factors of production: 1 (labor)  Factor mobility: Across firms (not across countries)  Number of firms (varieties): N  Number of countries: 2 (home and foreign*)  Imperfect competition, variable transport costs, fixed entry costs  Key Force : Differences in technologies between firms  Firm Heterogeneity (aka Firm Diversity) o Firms that differ in their marginal costs c i  For every firm i , marginal cost is constant  Market average in equilibrium: c = 1 n ( c 1 + … + c n ) o Similar to Ricardian model, c i = w ∗ a i just now that a i differs between firms even within the same industry (in Ricardian model, a was constant over the firm) o To start production, firms have to pay a fixed (sunk) cost F o To export to the foreign market, firms have to pay an additional fixed cost F X and a variable transport cost τ (so that c i X = ( 1 + τ ) ∗ c i )  Demand for Each Variety at Home o Q i = S ∗ [ 1 n − b ∗ ( P i − P ) ] o Demand Q i for an individual firm i ’s variety depends on total sales in the market S , the number of firms in the market n , its own price P i and average market price P . b is responsiveness of quantity to price o Firm i has inverse demand: P d ( Q i ) = P + 1 b ∗ n − 1 S ∗ b ∗ Q i o We look at asymmetric equilibrium  A firm’s P i will differ from average price P = 1 n ( P 1 + … + P n )

ECON | 101 | International Trade | lecture notes | Lecture 11 - Diverse Firms  Tr

Econ 101 — Summer 2022 International Trade Empirical Exercise 4: Intra-industry Trade and Income Levels August 25, 2022 Instructor: Marc-Andreas Muendler muendler@ucsd.edu Teaching Assistant: Carlos Bezerra de G ´ oes cbezerra@ucsd.edu Due date and time : August 29, 4:50pm Inputs and products Please use Stata (any version) for your work. Please base

ECON | 101 | International Trade | question_bank |Econ 101 — Summer 2022 International Trade Empirical Exercise 4: Intra-industry Trade and Income Levels August 25, 2022 Instructor: Marc-Andreas Muendler muendler@ucsd.edu Teaching Assistant: Carlos Bezerra de G ´ oes cbezerra@ucsd.edu Due date and time : August 29, 4:50pm Inputs and products Please use Stata (any version) for your work. Please base

All courses in ECON

Popular Documents