Aplia Homework Assignments

Week 1 (01.10.05-01.16.05)  

None. 

Week 2 (01.17.05-01.23.05)  

1. Introductory Practice Problem Set 
   How to use online problems in practice mode.
   Problem Set
   Due by: Su, 01.23.05, 11:00PM
   6 Points/Practice  
   
   
2. Introductory Graded Problem Set 
   How to use online problems in graded mode.
   Problem Set
   Due by: Su, 01.23.05, 11:00PM
   4 Points/Graded  
   
   
3. Numerical Calculations Tutorial and Exercises 
   Includes an animated tutorial followed by problems to teach the basics of performing numerical calculations. Concepts covered include: fractions, percentages, percentage change, and percentage points.
   Problem Set
   Due by: Su, 01.23.05, 11:15PM
   25 Points/Practice  
   
   
4. Numerical Calculations Tutorial and Exercises 
   Includes an animated tutorial followed by problems to teach the basics of performing numerical calculations. Concepts covered include: fractions, percentages, percentage change, and percentage points. 
   Problem Set
   Due by: Su, 01.23.05, 11:15PM
   25 Points/Graded  
   
   
5. Graph Tutorial and Exercises 
   Includes an animated tutorial followed by problems to teach the basics of interpreting and building graphs. Concepts covered include: axes, labels, units, scale, data, different scales, broken axes, and qualitative graphs. 
   Problem Set
   Due by: Su, 01.23.05, 11:30PM
   32 Points/Practice  
   
   
6. Graph Tutorial and Exercises 
   Includes an animated tutorial followed by problems to teach the basics of interpreting and building graphs. Concepts covered include: axes, labels, units, scale, data, different scales, broken axes, and qualitative graphs. 
   Problem Set
   Due by: Su, 01.23.05, 11:30PM
   32 Points/Graded  
   
   
7. Slope Tutorial and Exercises 
   Includes an animated tutorial followed by problems to teach the basics of understanding slopes. Concepts covered include: how to calculate the slope of lines and curves, tangents, the relationship between slope and changes in the height of a curve, how slope relates to the maximum and minimum of a curve. 
   Problem Set
   Due by: Su, 01.23.05, 11:45PM
   15 Points/Practice  
   
   
8. Slope Tutorial and Exercises 
   Includes an animated tutorial followed by problems to teach the basics of understanding slopes. Concepts covered include: how to calculate the slope of lines and curves, tangents, the relationship between slope and changes in the height of a curve, how slope relates to the maximum and minimum of a curve. 
   Problem Set
   Due by: Su, 01.23.05, 11:45PM
   15 Points/Graded  
   
   
9. Marginal Costs and Marginal Benefits I 
   Builds skills in understanding decision-making on the margin, decreasing marginal benefit (willingness to pay), and increasing marginal cost. Prepares students for the accompanying graded Problem Set.
   Problem Set
   Due by: Su, 01.23.05, 11:45PM
   22 Points/Practice  
   
   
10. Marginal Costs and Marginal Benefits II 
    Tests understanding of marginal analysis, including the choices of rational consumers and the concepts of diminishing marginal benefit and increasing marginal cost. 
    Problem Set
    Due by: Su, 01.23.05, 11:45PM
    19 Points/Graded  
    
    
11. Thinking on the Margin: Smallpox Vaccinations 
    Compares the costs and benefits of a smallpox vaccine in light of recent terrorist threats. Recognizes that the costs and benefits of the vaccine vary across individuals, based on health, likely exposure to smallpox, and other factors, so that the appropriate decision involves the extent to which the population is vaccinated and not whether to vaccinate everyone or no one.
    News Analysis
    Due by: Su, 01.23.05, 11:45PM
    4 Points/Graded  
    
    

1. Introduction to the Production Possibilities Frontier 
   Combines explanation and problems to teach the production possibilities model, including the concepts of efficiency, attainable and unattainable output, opportunity cost, and shifts in production possibilities. 
   Problem Set
   Due by: Su, 001.30.05, 11:00PM
   22 Points/Practice  
   
   
2. Production Possibilities I 
   Introduces straight line and curve production possibilities curves or frontiers and the concept of opportunity cost.
   Problem Set
   Due by: Su, 001.30.05, 11:00PM
   21 Points/Practice  
   
   
3. Production Possibilities I 
   Introduces straight line and curve production possibilities curves or frontiers and the concept of opportunity cost.
   Problem Set
   Due by: Su, 001.30.05, 11:00PM
   21 Points/Graded  
   
   
4. Production Possibilities II 
   Applies the concepts of production possibilities curves or frontiers and opportunity cost introduced in Production Possibilities I. You can refer to the first Problem Set if you have difficulty doing this Problem Set.
   Problem Set
   Due by: Su, 001.30.05, 11:00PM
   19 Points/Graded  
   
   
5. Habit or Prices? 
   Addresses the importance of price and opportunity cost vs. habit in explaining why Americans prefer traditional, top-loading washing machines to the new, front-loading machines popular in Europe.
   News Analysis
   Due by: Su, 001.30.05, 11:00PM
   3 Points/Graded  
   
   
6. Increased Fuel Economy Sought 
   Incorporates tradeoffs, opportunity cost, and production possibilities frontiers to analyze the economic consequences of higher fuel-economy standards for automobiles.
   News Analysis
   Due by: Su, 001.30.05, 11:00PM
   4 Points/Graded  
   
   
7. Introduction to Comparative Advantage 
   Combines explanation and problems to teach the theory of comparative advantage and the concept of gains from trade.
   Problem Set
   Due by: Su, 001.30.05, 11:15PM
   16 Points/Practice  
   
   
8. Introduction to Comparative Advantage 
   Combines explanation and problems to teach the theory of comparative advantage and the concept of gains from trade.
   Problem Set
   Due by: Su, 001.30.05, 11:15PM
   16 Points/Graded  
   
   
9. Gains from Trade I 
   Constructing and interpreting a production possibilities frontier, comparative and absolute advantage, gains from trade.
   Problem Set
   Due by: Su, 001.30.05, 11:15PM
   14 Points/Practice  
   
   
10. Gains from Trade I 
    Constructing and interpreting a production possibilities frontier, comparative and absolute advantage, gains from trade.
    Problem Set
    Due by: Su, 001.30.05, 11:15PM
    14 Points/Graded 
    
    
11. Gains from Trade II 
    Applies concepts related to gains from trade including opportunity costs, production possibilities frontiers, absolute and comparative advantage, specialization.
    Problem Set
    Due by: Su, 001.30.05, 11:15PM
    29 Points/Graded  
    
    
12. International Trade 
    Tests understanding of international trade, including comparative advantage, supply and demand of imports and exports, and trade barriers.
    Problem Set
    Due by: Su, 001.30.05, 11:15PM
    11 Points/Graded  
    
    
13. Winners and Losers from Trade 
    International trade creates many winners and some losers. Sometimes, a few losers in rich countries try to stop trade that would make winners of workers in very poor countries.
    News Analysis
    Due by: Su, 001.30.05, 11:15PM
    6 Points/Graded  
    
    
14. Objections to Proposed Limits on Steel Imports 
    Early in 2002, firms in the steel industry asked President Bush to protect them from foreign competition, but firms and workers in other industries objected. Consumers should have protested too.
    News Analysis
    Due by: Su, 001.30.05, 11:15PM
    3 Points/Graded  
    
    
15. Introduction to Demand 
    Combines explanations and problems to teach concepts related to demand, including willingness to pay, law of demand, and shifts in demand. Provides an animation that sorts people by willingness to pay to derive a demand curve and then asks students to plot a demand curve from raw data. 
    Problem Set
    Due by: Su, 001.30.05, 11:15PM
    14 Points/Practice  
    
    
16. Introduction to Demand 
    Combines explanations and problems to teach concepts related to demand, including willingness to pay, law of demand, and shifts in demand. Provides an animation that sorts people by willingness to pay to derive a demand curve and then asks students to plot a demand curve from raw data. 
    Problem Set
    Due by: Su, 001.30.05, 11:15PM
    14 Points/Graded  
    
    
17. Principles of Demand I 
    Builds skills in understanding the factors that shift demand curves or change the quantity demanded. Coverage includes normal goods, substitutes and complements, aggregating demand across individuals, and plotting demand curves. Prepares students for the accompanying graded Problem Set.
    Problem Set
    Due by: Su, 001.30.05, 11:30PM
    10 Points/Practice  
    
    
18. Principles of Demand II 
    Assesses understanding of demand curves and schedules and of the factors that shift demand. Assign as a graded Problem Set.
    Problem Set
    Due by: Su, 001.30.05, 11:30PM
    10 Points/Graded  
    
    
19. Changes in Demand I 
    Contrasts a shift in demand with a movement along the demand curve. Topics include law of demand, substitutes and complements, and normal and inferior goods. Prepares students for the accompanying graded Problem Set.
    Problem Set
    Due by: Su, 001.30.05, 11:30PM
    11 Points/Practice  
    
    
20. Changes in Demand II 
    Applies the concepts and definitions presented in Changes in Demand I. Asks students to shift demand curves or to move a point along them. Assign as a graded Problem Set.
    Problem Set
    Due by: Su, 001.30.05, 11:30PM
    15 Points/Graded  
    
    
21. Introduction to Supply 
    Combines explanations and problems to teach concepts related to supply, including reservation price, law of supply, and shifts in supply. Provides an animation that sorts people by reservation price to derive a supply curve and then asks students to plot a supply curve from raw data. 
    Problem Set
    Due by: Su, 001.30.05, 11:30PM
    12 Points/Practice  
    
    
22. Introduction to Supply 
    Combines explanations and problems to teach concepts related to supply, including reservation price, law of supply, and shifts in supply. Provides an animation that sorts people by reservation price to derive a supply curve and then asks students to plot a supply curve from raw data. 
    Problem Set
    Due by: Su, 001.30.05, 11:30PM
    12 Points/Graded  
    
    
23. Principles of Supply I 
    Builds skills in understanding the factors that shift supply curves or change the quantity supplied. Prepares students for the accompanying graded Problem Set.
    Problem Set
    Due by: Su, 001.30.05, 11:30PM
    12 Points/Practice  
    
    
24. Principles of Supply II 
    Assesses understanding of supply curves and schedules and of the factors that shift supply. 
    Problem Set
    Due by: Su, 001.30.05, 11:30PM
    12 Points/Graded  
    
    
25. Falling Oil Prices on the Eve of War with Iraq 
    Considers the effect of war in reducing oil exports from Iraq and the offsetting effect of increases in oil from other sources, including strategic petroleum reserves. Provides a recent history of oil exports and prices, including a 20% reduction in oil prices the week before the war started.
    News Analysis
    Due by: Su, 001.30.05, 11:45PM
    5 Points/Graded  
    
    
26. Introduction to Market Equilibrium 
    Integrates explanations and problems to teach about equilibrium price and quantity. Combines willingness to pay and reservation price to illustrate graphically the quantities demanded and supplied at each price and to show why free markets move to equilibrium. Explains shortages and surpluses and the pressure each exerts on price as well as how price ceilings and price floors may impede movement to equilibrium. Works through the effect of a tax in leading to a new equilibrium. 
    Problem Set
    Due by: Su, 001.30.05, 11:45PM
    15 Points/Practice  
    
    
27. Introduction to Market Equilibrium 
    Integrates explanations and problems to teach about equilibrium price and quantity. Combines willingness to pay and reservation price to illustrate graphically the quantities demanded and supplied at each price and to show why free markets move to equilibrium. Explains shortages and surpluses and the pressure each exerts on price as well as how price ceilings and price floors may impede movement to equilibrium. Works through the effect of a tax in leading to a new equilibrium. 
    Problem Set
    Due by: Su, 001.30.05, 11:45PM
    15 Points/Graded  
    
    
28. Principles of Equilibrium I 
    Builds skills in understanding equilibrium price and output, shortages and surpluses, and the effects of supply and demand shifts as well as inferring whether a new equilibrium results from a change in supply or demand or both. Prepares students for the accompanying graded Problem Set.
    Problem Set
    Due by: Su, 001.30.05, 11:45PM
    14 Points/Practice  
    
    
29. Principles of Equilibrium II 
    Assesses understanding of equilibrium and disequilibrium and of adjustments from one equilibrium to another. 
    Problem Set
    Due by: Su, 001.30.05, 11:45PM
    14 Points/Graded  
    
    
30. Housing 1: Review of Supply and Demand 
    Considers supply and demand, equilibrium, and price elasticity of demand in the context of the home-building industry. Topics include price adjustments in response to shortages and surpluses and the effects of supply and demand shifts on equilibrium price and quantity. This is one of five Problem Sets (Housing 1-5) to use this housing example.
    Problem Set
    Due by: Su, 001.30.05, 11:45PM
    19 Points/Graded  
    
    
31. The Market for Organs 
    Examines economic and ethical issues related to a market for human organs. Government legislation bans the sale of organs for transplants, meaning that the market is not allowed to eliminate the organ shortage. Is legislation to provide donors a tax credit an appropriate solution to the shortage?
    News Analysis
    Due by: Su, 001.30.05, 11:45PM
    4 Points/Graded  
    
    
32. Should the FAA Use Price to Reduce Congestion? 
    Considers whether airport takeoff fees should be raised during peak hours to reduce congestion and flight delays. Uses the tools of supply and demand to examine the effect of charging different fees at different hours of the day.
    News Analysis
    Due by: Su, 001.30.05, 11:45PM
    5 Points/Graded  
    
    
33. Supply and Demand I 
    Some of the these questions were compiled from Changes in Demand I, Principles of Supply I, and Principles of Equilibrium I. Covers both sliding along and shifting of demand and supply curves as well as equilibrium determination of market-clearing price and quantity. Prepares students for the accompanying graded Problem Set.
    Problem Set
    Due by: Su, 001.30.05, 11:45PM
    24 Points/Practice  
    
    
34. Supply and Demand II 
    Some of the these questions were compiled from Changes in Demand II and Principles of Equilibrium II. Covers both sliding along and shifting of demand and supply curves as well as equilibrium determination of market-clearing price and quantity. 
    Problem Set
    Due by: Su, 001.30.05, 11:45PM
    22 Points/Graded  
    
    

1. Preparing for the Equilibrium Price and Quantity Experiment 
   Prepares students for the Equilibrium Price and Quantity experiment. 
   Problem Set
   Su, 02.06.05, 7:30PM
   8 Points/Graded  
   
   
2. Equilibrium Price and Quantity: Experiment 
   Assigns students the role of buyer or seller so that they can trade with their classmates in an online experiment involving used textbooks.
   Experiment
   Su, 02.06.05, 7:30PM
   Experiment Points: 50 Points  
   
   
3. Equilibrium Price and Quantity: Analysis 
   Analyzes results of the Equilibrium Price and Quantity experiment. Re-interprets the experiment in terms of supply and demand to predict price and quantity and to calculate the gains from trade. Includes answers to questions that participants often have about what happened in the experiment. 
   Reading
   Due by: Su, 02.06.05, 11:15PM
     
   
4. Price and Quantity of Used Textbooks 
   Reinforces the experiment's main lessons about how equilibrium price and quantity are determined. Asks students to identify shortages and surpluses, to predict the quantity exchanged and price, and to analyze the effect of increased demand.
   Problem Set
   Due by: Su, 02.06.05, 11:15PM
   12 Points/Graded  
   
   
5. Gains From Trading Textbooks 
   Considers the gains from trade of individual buyers and sellers and illustrates the idea that competition maximizes the aggregate gain for society.
   Problem Set
   Due by: Su, 02.06.05, 11:15PM
   11 Points/Graded  
   
   
6. Measuring Domestic Output, National Income, and the Price Level I 
   Builds skills in understanding the definition and measurement of gross domestic product, national income, and price level.
   Problem Set
   Due by: Su, 02.06.05, 11:30PM
   19 Points/Practice  
   
   
7. Measuring Domestic Output, National Income, and the Price Level I 
   Builds skills in understanding the definition and measurement of gross domestic product, national income, and price level.
   Problem Set
   Due by: Su, 02.06.05, 11:30PM
   19 Points/Graded  
   
   
8. Measuring Domestic Output, National Income, and the Price Level II 
   Tests understanding of the definition and measurement of gross domestic product, national income, and price level.
   Problem Set
   Due by: Su, 02.06.05, 11:30PM
   19 Points/Graded  
   
   
9. GDP 
   Applies the definition of GDP and the major components of expenditure. Also poses questions on real vs. nominal measures and total vs. per-capita measures of GDP.
   Problem Set
   Due by: Su, 02.06.05, 11:45PM
   20 Points/Practice  
   
   
10. GDP 
    Applies the definition of GDP and the major components of expenditure. Also poses questions on real vs. nominal measures and total vs. per-capita measures of GDP.
    Problem Set
    Due by: Su, 02.06.05, 11:45PM
    20 Points/Graded  
    
    
11. The Realm of Macroeconomics I 
    Builds skills in understanding the definition and scope of macroeconomics, aggregate supply and demand, nominal and real GDP, and recessions and economic growth.
    Problem Set
    Due by: Su, 02.06.05, 11:45PM
    12 Points/Practice  
    
    
12. The Realm of Macroeconomics II 
    Tests understanding of the definition and scope of macroeconomics, aggregate supply and demand, nominal and real GDP, and recessions and economic growth.
    Problem Set
    Due by: Su, 02.06.05, 11:45PM
    9 Points/Graded  
    
    
13. National-Income Accounting I 
    Asks students to apply the definition of GDP and the major components of expenditure.
    Problem Set
    Due by: Su, 02.06.05, 11:45PM
    11 Points/Practice  
    
    
14. National-Income Accounting II 
    Asks students to apply the definition of GDP and the major components of expenditure.
    Problem Set
    Due by: Su, 02.06.05, 11:45PM
    15 Points/Graded  
    
    
15. Measuring a Nation's Income 
    Applies the definition of GDP and the major components of expenditure. Also poses questions on real vs. nominal measures and total vs. per-capita measures of GDP. Includes actual data comparing output in different countries. 
    Problem Set
    Due by: Su, 02.06.05,  11:45PM
    26 Points/Graded  
    
    
16. GDP: Measuring Output, Mismeasuring Well-being? 
    Describes the factors that lead to the large differences in GDP per capita between the U.S. and countries in Europe. Illustrates the importance of hours worked per capita and the exclusion of leisure from GDP. Also raises other questions about the use of GDP per capita as a measure of well-being.
    News Analysis
    Due by: Su, 02.06.05, 11:45PM
    5 Points/Graded
    

Week 5: ( 02.07.05-02.13.05)

1. Preparing for the Unemployment Compensation Experiment 
   Prepares students for the Unemployment Compensation experiment.
   Problem Set
   Due by: Su, 02.13.05, 7:30PM
   7 Points/Graded
   
2. Unemployment Compensation: Experiment 
   An experimental market that lets you play the role of a worker or an employer in an online market for jobs.
   Experiment
   Su, 02.13.05, 7:30PM
   Experiment Points: 50 Points
   
3. Unemployment Compensation: Analysis 
   Analysis of the results from the Unemployment Compensation experiment. Usually read after the experiment has been completed.
   Reading
   Su, 02.13.05, 11:00PM
   
   
4. The Effects of Unemployment Compensation 
   Tests understanding of the material covered in the analysis reading for the Unemployment Compensation Experiment.
   Problem Set
   Due by: Su, 2.15.0, 11:00PM
   15 Points/Graded
   
5. Unemployment I 
   Questions that test basic knowledge of measurement of unemployment, kinds of unemployment, and full employment.
   Problem Set
   Due by: Su, 02.13.05, 11:15PM
   12 Points/Practice
   
6. Unemployment I 
   Questions that test basic knowledge of measurement of unemployment, kinds of unemployment, and full employment.
   Problem Set
   Due by: Su, 02.13.05, 11:15PM
   12 Points/Graded
   
7. Unemployment II 
   Tests understanding of the labor force, full employment, and measuring unemployment.
   Problem Set
   Due by: Su, 02.13.05, 11:15PM
   14 Points/Graded
   
8. Unemployment and Its Natural Rate I 
   Tests understanding of the definition and categories of unemployment, its natural rate, the effects of minimum wage and unions, efficiency wages, unemployment insurance, and the shortcomings of unemployment statistics.
   Problem Set
   Due by: Su, 02.13.05, 11:30PM
   16 Points/Practice
   
9. Unemployment and Its Natural Rate II 
   Tests understanding of the definition and categories of unemployment, its natural rate, the effects of minimum wage and unions, efficiency wages, unemployment insurance, and the shortcomings of unemployment statistics.
   Problem Set
   Due by: Su, 02.13.05, 11:30PM
   17 Points/Graded
   
10. Understanding the Labor Market: Personal Stories vs. Impersonal Statistics  
    Did you hear the story about the engineer with 20 years' experience who was laid off and failed to find a job after searching for nine months? (If not, read the accompanying article.) While sad but true, a few such stories cannot accurately depict the state of the economy. Instead, we need to study and understand statistical stories.
    News Analysis
    Due by: Su, 02.13.05, 11:45PM
    6 Points/Graded
    
11. Vacancies and Unemployment 
    Understanding the forces that determine prices and the vacancy rate in a rental market for housing makes it easier to think about the unemployment rate and changes wage inflation.
    News Analysis
    Due by: Su, 02.13.05, 11:45PM
    9 Points/Graded
    
12. The Goals of Macroeconomic Policy I 
    Builds skills in understanding real and potential GDP, growth rates, unemployment, inflation, and real and nominal interest rates.
    Problem Set
    Due by: Su, 02.13.05, 11:45PM
    16 Points/Practice
    
13. The Goals of Macroeconomic Policy II 
    Tests understanding of real and potential GDP, growth rates, unemployment, inflation, and real and nominal interest rates.
    Problem Set
    Due by: Su, 02.13.05, 11:45PM
    12 Points/Graded
    

1. Introduction to Measuring Price Changes 
   A self-contained exposition of the concept of a price index and of measures of inflation derived from the index, with the associated measures of nominal and real income. Question 2 (with 9 parts) uses a detailed example to illustrate the concept of substitution bias.
   Problem Set
   Due by: Su, 02.20.05, 11:30PM
   23 Points/Practice
   
2. Introduction to Measuring Price Changes 
   A self-contained exposition of the concept of a price index and of measures of inflation derived from the index, with the associated measures of nominal and real income. Question 2 (with 9 parts) uses a detailed example to illustrate the concept of substitution bias.
   Problem Set
   Due by: Su, 02.20.05, 11:45PM
   23 Points/Graded
   
3. Measuring Price Changes 
   Basic calculations with a price index. Verbal questions about standards of living, substitution bias, and differences between the CPI, the GDP deflator, and the PPI.
   Problem Set
   Due by: Su, 02.20.05, 11:45PM
   13 Points/Graded
   
4. Inflation I 
   Questions cover the basics of price indexes and the effects of inflation.
   Problem Set
   Due by: Su, 02.20.05, 11:45PM
   12 Points/Practice
   
5. Inflation I 
   Questions cover the basics of price indexes and the effects of inflation.
   Problem Set
   Due by: Su, 02.20.05, 11:45PM
   12 Points/Graded
   
6. Inflation II 
   Basic definitional questions about the meaning and measurement of inflation.
   Problem Set
   Due by: Su, 02.20.05, 11:45PM
   14 Points/Graded
   
7. Measuring the Cost of Living I 
   Detailed questions about the construction of a price index and the measurement of inflation. Covers some problems associated with price indices, such as substitution bias and the difference between nominal and real interest rates. Includes questions using real data on the CPI and interest rates.
   Problem Set
   Due by: Su, 02.20.05, 11:45PM
   17 Points/Practice
   
8. Measuring the Cost of Living I 
   Detailed questions about the construction of a price index and the measurement of inflation. Covers some problems associated with price indices, such as substitution bias and the difference between nominal and real interest rates. Includes questions using real data on the CPI and interest rates.
   Problem Set
   Due by: Su, 02.20.05, 11:45PM
   17 Points/Graded
   
9. Measuring the Cost of Living II 
   Detailed questions about the construction of a price index and the measurement of inflation. Covers the difference between real and nominal interest rates. Includes real data on interest rates and the cost of gasoline over time.
   Problem Set
   Due by: Su, 02.20.05, 11:45PM
   20 Points/Graded
   

1. Aggregate Demand and Aggregate Supply I 
   Builds skills in creating the aggregate demand-aggregate supply model and using it to analyze changes in GDP and the price level. Includes a discussion on how changes in aggregate supply and aggregate demand affect inflation.
   Problem Set
   Due by: Su, 02.27.05, 11:30PM
   14 Points/Practice
   
2. Aggregate Demand and Aggregate Supply I 
   Builds skills in creating the aggregate demand-aggregate supply model and using it to analyze changes in GDP and the price level. Includes a discussion on how changes in aggregate supply and aggregate demand affect inflation.
   Problem Set
   Due by: Su, 02.27.05, 11:30PM
   14 Points/Graded
   
3. Aggregate Demand and Aggregate Supply II 
   Shows how to build the aggregate demand-aggregate supply model and how it can be used to analyze changes in GDP and the price level. Includes a discussion on how changes in aggregate supply and aggregate demand affect inflation.
   Problem Set
   Due by: Su, 02.27.05, 11:30PM
   12 Points/Graded
   
4. Inflation and Growth: The Phillips Curve I 
   Reviews demand-side and supply-side inflation to motivate the Phillips Curve relationship. Covers short-run vs. long-run in the context of the Phillips Curve and discusses policy implications.
   Problem Set
   Due by: Su, 02.27.05, 11:30PM
   14 Points/Practice
   
5. Inflation and Growth: The Phillips Curve II 
   Reviews demand-side and supply-side inflation to motivate the Phillips Curve relationship. Covers short-run vs. long-run in the context of the Phillips Curve and discusses policy implications.
   Problem Set
   Due by: Su, 02.27.05, 11:30PM
   13 Points/Graded
   
6. The Business Cycle I 
   Builds skills in graphing and interpreting business cycles and understanding aggregate demand and supply, competing theories of short-run instability, and long-run self adjustment.
   Problem Set
   Due by: Su, 02.27.05, 11:45PM
   15 Points/Practice
   
7. The Business Cycle II 
   Tests understanding of graphing and interpreting business cycles, aggregate demand and supply, competing theories of short-run instability, and long-run self adjustment.
   Problem Set
   Due by: Su, 02.27.05, 11:45PM
   18 Points/Graded
   
8. Business Cycles and Unemployment 
   Tests understanding of business cycles, how to interpret and calculate labor market statistics, and types of unemployment.
   Problem Set
   Due by: Su, 02.27.05, 11:45PM
   17 Points/Graded
   
9. Supply-Side Equilibrium: Unemployment and Inflation? I 
   This Problem Set discusses a model for a short-run, upward-sloping aggregate supply curve and uses the aggregate demand-aggregate supply model to analyze recessionary/inflationary gaps
   Problem Set
   Due by: Su, 02.27.05, 11:45PM
   9 Points/Practice
   
10. Supply-Side Equilibrium: Unemployment and Inflation? II 
    This Problem Set discusses a model for a short-run, upward-sloping aggregate supply curve and uses the aggregate demand-aggregate supply model to analyze recessionary/inflationary gaps.
    Problem Set
    Due by: Su, 02.27.05, 11:45PM
    12 Points/Graded
    
11. Aggregate Demand and Short- and Long-Run Aggregate Supply I 
    This Problem Set covers short-run fluctuations in the economy. It uses the aggregate demand-aggregate supply model to help explain what causes these fluctuations and how the economy adjusts in the long run.
    Problem Set
    Due by: Su, 02.27.05, 11:45PM
    17 Points/Practice
    
12. Aggregate Demand and Short- and Long-Run Aggregate Supply I 
    ThisProblem Set covers short-run fluctuations in the economy. It uses the aggregate demand-aggregate supply model to help explain what causes these fluctuations and how the economy adjusts in the long run.
    Problem Set
    Due by: Su, 02.27.05, 11:45PM
    17 Points/Graded
    
13. Aggregate Demand and Short- and Long-Run Aggregate Supply II 
    This Problem Set covers short-run fluctuations in the economy. It uses the aggregate demand-aggregate supply model to help explain what causes these fluctuations and how the economy adjusts in the long run.
    Problem Set
    Due by: Su, 02.27.05, 11:45PM
    16 Points/Graded
    

Week 8 (02.28.05-03.06.05)

1. Self-Adjustment or Instability? I 
   Builds skills in understanding leakages and injections, the multiplier effect, and recessionary and inflationary GDP gaps.
   Problem Set
   Due by Su, 03.06.05  11:30PM
   18 Points/Practice  
   
2. Self-Adjustment or Instability? II 
   Focuses on leakages and injections, the multiplier effect, and recessionary and inflationary GDP gaps.
   Problem Set
   Due by Su, 03.06.05, 11:30PM
   13 Points/Graded  
   
3. Building the Aggregate Expenditures Model I 
   This Practice Problem Set leads students through the development of consumption and investment functions, which leads to a definition of aggregate expenditures and equilibrium GDP. The descriptions of shifts in AE and in the multiplier will come in other Problem Sets.
   Problem Set
   Due by Su, 03.06.05, 11:30PM
   20 Points/Practice  
   
4. Building the Aggregate Expenditures Model II 
   Shows how expenditure equals output in an economy with only consumption and investment. Includes a discussion of the determinants of investment and consumption spending.
   Problem Set
   Due by Su, 03.06.05, 11:30PM
   19 Points/Graded  
   
5. The Expanded Aggregate Expenditures Model 
   Tests understanding of the multiplier effect, the marginal propensities to consume and save, net exports, and changes in aggregate expenditures and equilibrium GDP.
   Problem Set
   Due by Su, 03.06.05, 11:30PM
   26 Points/Graded  
   
6. Aggregate Demand I 
   Builds understanding of the components of aggregate demand--consumption, investment, government spending, and net exports--and what determines the level of spending for each component.
   Problem Set
   Due by Su, 03.06.05, 11:45PM
   19 Points/Practice  
   
7. Aggregate Demand II 
   Covers the components of aggregate demand--consumption, investment, government spending, and net exports--and what determines the level of spending for each component.
   Problem Set
   Due by Su, 03.06.05, 11:45PM
   24 Points/Graded  
   
8. Aggregate Demand and the Powerful Consumer I 
   Builds skills in understanding aggregate demand, national income, disposable income, consumption spending, the marginal propensity to consume, and the consumption function.
   Problem Set
   Due by Su, 03.06.05, 11:45PM
   13 Points/Practice  
   
9. Aggregate Demand and the Powerful Consumer II 
   Tests understanding of aggregate demand, national income, disposable income, consumption spending, the marginal propensity to consume, and the consumption function.
   Problem Set
   Due by Su, 03.06.05, 11:45PM
   18 Points/Graded  
   
10. Demand-Side Equilibrium: Unemployment or Inflation? I 
    This Problem Set builds the income-expenditure (Keynesian cross) model for aggregate demand, derives the multiplier, and introduces recessionary/inflationary gaps.
    Problem Set
    Due by Su, 03.06.05, 11:45PM
    16 Points/Practice  
    
11. Demand-Side Equilibrium: Unemployment or Inflation? II 
    This Problem Set builds the income-expenditure (Keynesian cross) model for aggregate demand, derives the multiplier, and introduces recessionary/inflationary gaps.
    Problem Set
    Due by Su, 03.06.05, 11:45PM
    14 Points/Graded  

Week 9 (03.07.05-03.13.05)

1. Keynesian Fiscal Policy I 
   Builds skills in understanding the Keynesian approach to fiscal policy, including recessionary and inflationary gaps, full-employment and equilibrium output, and government spending and taxes.
   Problem Set
   Due by Su, 03.13.05, 11:30PM
   14 Points/Practice  
   
2. Keynesian Fiscal Policy II 
   Tests understanding of the Keynesian approach to fiscal policy, including recessionary and inflationary gaps, full-employment and equilibrium output, and government spending and taxes.
   Problem Set
   Due by Su, 03.13.05, 11:30PM
   12 Points/Graded  
   
3. Fiscal Policy I 
   This Problem Set should give students Practice in evaluating fiscal policy, especially from a graphical perspective.
   Problem Set
   Due by Su, 03.13.05, 11:30PM
   12 Points/Practice  
   
4. Fiscal Policy II 
   Tests understanding of fiscal policy, including government spending and taxes, the built-in stabilizer, and the full-employment budget.
   Problem Set
   Due by Su, 03.13.05, 11:30PM
   15 Points/Graded  
   
5. Fiscal Policy and the Business Cycle I 
   Tests understanding of expansionary, contractionary, and supply-side fiscal policy.
   Problem Set
   Due by Su, 03.13.05, 11:30PM
   13 Points/Practice  
   
6. Fiscal Policy and the Business Cycle II 
   This Problem Set shows how fiscal policy tools affect aggregate demand and how fiscal policy can be used to close recessionary and inflationary gaps.
   Problem Set
   Due by Su, 03.13.05, 11:30PM
   15 Points/Graded  
   
7. Fiscal Policy and Expenditures I 
   Tests understanding of the multiplier with taxes, government transfer payments, factors that affect the equilibrium level of GDP and expenditures, and automatic stabilizers.
   Problem Set
   Due by Su, 03.13.05, 11:30PM
   16 Points/Practice  
   
8. Fiscal Policy and Expenditures II 
   This Problem Set identifies fiscal policy tools, and examines how fiscal policy affects expenditures.
   Problem Set
   Due by Su, 03.13.05, 11:30PM
   12 Points/Graded  
   
9. Taxes and the Consumption Function I 
   Tests understanding of the effects of fixed and variable taxes on GDP and the consumption and expenditure functions.
   Problem Set
   Due by Su, 03.13.05, 11:30PM
   12 Points/Practice  
   
10. Taxes and the Consumption Function II 
    This Problem Set focuses on the consumption function is affected by fixed vs. variable and permanent vs. temporary taxes.
    Problem Set
    Due by Su, 03.13.05, 11:30PM
    11 Points/Graded  
    
11. The Macroeconomic Effects of a Change in Taxes and Spending 
    The Congressional Budget Office (CBO) evaluated the effects of President Bush's proposed tax and spending changes using both static scoring, in which it doesn't account for how changes will affect real GDP, and dynamic scoring, in which it does account for how changes will affect real GDP. This CBO analysis illustrates many of the effects that taxes have on the economy.
    News Analysis
    Due by Su, 03.13.05, 11:30PM
    10 Points/Graded  
    
12. Tax Cuts: Short-Run vs. Long-Run Impact 
    President Bush's proposed tax plan is sparking a debate between those that want the emphasis on short-run stimulus and those who want to increase long-run growth.
    News Analysis
    Due by Su, 03.13.05, 11:30PM
    7 Points/Graded  
    
13. Deficits and Interest Rates 
    Questions about macroeconomic policy, such as the effects of government deficits, are difficult to understand because so many different variables interact in a national economy. Economists, like other scientists, use the concept of a model to manage the complexity.
    News Analysis
    Due by Su, 03.13.05, 11:45PM
    7 Points/Graded  

Week 10 (03.14.05-03.20.05)  SPRING BREAK

Week 11 (03.21.05-03.27.05)

1. Production and Growth I 
   Tests understanding of production and growth, including calculating growth rates and examining the factors leading to increased output.
   Problem Set
   Due by Su, 03.27.05, 11:45PM
   23 Points/Practice  
   
2. Production and Growth II 
   Tests understanding of real and nominal GDP, how productivity is measured, and how to calculate growth rates.
   Problem Set
   Due by Su, 03.27.05, 11:45PM
   22 Points/Graded  
   
3. Economic Growth: Theory and Policy I 
   Builds skills in understanding the convergence hypothesis, production functions and growth rates, and how various factors such as labor and capital inputs, technology, and research and development funding affect productivity.
   Problem Set
   Due by Su, 03.27.05, 11:45PM
   11 Points/Practice  
   
4. Economic Growth: Theory and Policy II 
   Tests understanding of the convergence hypothesis, production functions and growth rates, and how various factors such as labor and capital inputs, technology, and research and development funding affect productivity.
   Problem Set
   Due by Su, 03.27.05, 11:45PM
   10 Points/Graded  
   
5. Too Much Productivity? 
   The long-run economic prosperity of a nation depends on its ability to produce goods and services. Increasing productivity is the key to higher levels of output and improved standards of living.
   News Analysis
   Due by Su, 03.27.05, 11:45PM
   8 Points/Graded 

Week 12 (03.28.05-04.03.05)

1. Preparing for the Interest Rates and Investment Experiment 
   Prepares students for the Interest Rates and Investment experiment. 
   Problem Set
   Due by Sunday, 04.03.05, 8:45PM
   14 Points/Graded  
   

2. Interest Rates and Investment: Experiment 
   Play the role of a borrower or lender in an experiment that allows you to negotiate loans in order to fund investment projects.
   Experiment
   Held on Sunday, 04.03.05, at exactly 9:00PM
   Experiment Points: 50  Points
   
3. Interest Rates and Investment: Analysis 
   Analysis of the results from the Interest Rates and Investment experiment. This is to be read after the experiment has been completed. It includes answers to questions that participants often have about what happened in the experiment.
   Reading
   Due by Sunday, 04.03.05, 11:45PM
   0  Points
   
4. Supply and Demand for Loans 
   Tests understanding of the basic lessons presented in the analysis
   Reading
   for the Interest Rates and Investment experiment.
   Problem Set
   Due by Sunday, 04.03.05, 11:45PM
   10 Points/Graded  
   
   
5. Money and Banks I 
   Builds skills in understanding the definitions and functions of money, how money is created, and the role of banks in the circular flow.
   Problem Set
   Due by Su, 04.03.05, 11:45PM
   13 Points/Practice  
   
6. Money and Banks II 
   Tests understanding of the definitions and functions of money, how money is created, and the role of banks in the circular flow.
   Problem Set
   Due by Su, 04.03.05, 11:45PM
   13 Points/Graded  
   
7. The Federal Reserve System I 
   Builds skills in understanding the structure of the Fed, monetary tools, and increasing and decreasing the money supply.
   Problem Set
   Due by Su, 04.03.05, 11:45PM
   14 Points/Practice  
   
8. The Federal Reserve System II 
   Tests understanding of the structure of the Fed, monetary tools, and increasing and decreasing the money supply.
   Problem Set
   Due by Su, 04.03.05, 11:45PM
   15 Points/Graded  
   
9. The Monetary System I 
   Tests understanding of the functions and types of money, the Federal Reserve System, the money supply, the money multiplier, and fractional reserve banking.
   Problem Set
   Due by Su, 04.03.05, 11:45PM
   24 Points/Practice  
   
10. The Monetary System I 
    Tests understanding of the functions and types of money, the Federal Reserve System, the money supply, the money multiplier, and fractional reserve banking.
    Problem Set
    Due by Su, 04.03.05, 11:45PM
    24 Points/Graded  
    
11. The Monetary System II 
    Tests understanding of the functions and types of money, the Federal Reserve System, the money supply, the money multiplier, and fractional reserve banking.
    Problem Set
    Due by Su, 04.03.05, 11:45PM
    25 Points/Practice  
    
12. The Monetary System II 
    Tests understanding of the functions and types of money, the Federal Reserve System, the money supply, the money multiplier, and fractional reserve banking.
    Problem Set
    Due by Su, 04.03.05, 11:45PM
    25 Points/Graded  
    
13. Money and Banking I 
    Builds skills in understanding the functions and definitions of money, the supply and demand of money, and the Federal Reserve and the banking system.
    Problem Set
    Due by Su, 04.03.05, 11:45PM
    23 Points/Practice  
    
14. Money and Banking II 
    Tests knowledge of the functions and definitions of money, the supply and demand of money, and the Federal Reserve and the banking system.
    Problem Set
    Due by Su, 04.03.05, 11:45PM
    17 Points/Graded  
    
15. How Banks and Thrifts Create Money I 
    Builds skills in understanding how money is created, including understanding balance sheets, money-creating transactions, the Federal funds market, and the monetary multiplier.
    Problem Set
    Due by Su, 04.03.05, 11:45PM
    12 Points/Practice  
    
16. How Banks and Thrifts Create Money II 
    Focuses on how money is created, including understanding balance sheets, money-creating transactions, the Federal funds market, and the monetary multiplier.
    Problem Set
    Due by Su, 04.03.05, 11:45PM
    13 Points/Graded  
    
17. Money and the Banking System I 
    This Problem Set covers the theoretical and empirical definitions of money and introduces the concept of the bank balance sheet and multiple deposit creation.
    Problem Set
    Due by Su, 04.03.05, 11:45PM
    15 Points/Practice  
    
18. Money and the Banking System II 
    This Problem Set covers the theoretical and empirical definitions of money and introduces the concept of the bank balance sheet and multiple deposit creation.
    Problem Set
    Due by Su, 04.03.05, 11:45PM
    13 Points/Graded  

Week 13 (04.04.05-04.10.05)

1. Money I 
   Builds skills in understanding the definition and functions of money, how banks create money, the quantity theory of money, and the effects of the quantity of money on short- and long-run aggregate demand and aggregate supply.
   Problem Set
   Due by Su, 04.10.05, 10:45PM
   12 Points/Practice  
   
2. Money II 
   Tests understanding of the definition and functions of money, how banks create money, the quantity theory of money, and the effects of the quantity of money on short- and long-run aggregate demand and aggregate supply.
   Problem Set
   Due by Su, 04.10.05, 10:45PM
   13 Points/Graded  
   
3. Monetary Policy (Level 1) I 
   Builds skills in understanding monetary policy, including the Monetarist and Keynesian views and the relationship between money supply, interest rates, and aggregate demand.
   Problem Set
   Due by Su, 04.10.05, 11:45PM
   14 Points/Practice  
   
4. Monetary Policy (Level 1) II 
   Tests understanding of monetary policy, including the Monetarist and Keynesian views and the relationship between money supply, interest rates, and aggregate demand.
   Problem Set
   Due by Su, 04.10.05, 11:45PM
   16 Points/Graded  
   
5. Monetary Policy (Level 2) I 
   Builds skills in understanding consolidated balance sheets, the relationship between real GDP and price level, and the tools of monetary policy, including open-market operations, the cause-effect chain, and the reserve ratio.
   Problem Set
   Due by Su, 04.10.05, 11:45PM
   12 Points/Practice  
   
6. Monetary Policy (Level 2) II 
   Tests understanding of consolidated balance sheets, the relationship between real GDP and price level, and the tools of monetary policy, including open-market operations, the cause-effect chain, and the reserve ratio.
   Problem Set
   Due by Su, 04.10.05, 11:45PM
   13 Points/Graded  
   
7. Monetary Policy and the National Economy I 
   Covers the Fed, the money market, how Fed policy tools affect the money market and interest rates, and how changes in policy affect spending and real GDP.
   Problem Set
   Due by Su, 04.10.05, 11:45PM
   17 Points/Practice  
   
8. Monetary Policy and the National Economy II 
   Covers the Fed, the money market, how Fed policy tools affect the money market and interest rates, and how changes in policy affect spending and real GDP.
   Problem Set
   Due by Su, 04.10.05, 11:45PM
   14 Points/Graded  
   
9. Deflation and the Zero Bound on Interest Rates 
   With inflation under control in most nations and with persistent deflation in Japan, attention is turning to the threat from falling prices. A recent speech by a member of the Board of Governors of the Federal Reserve System explains the problem that deflation poses for the conduct of monetary policy.
   News Analysis
   Due by Su, 04.10.05, 11:45PM
   8 Points/Graded  
   
10. Transparency at the Fed 
    In the last 10 years, central banks have become less secretive. An announcement by the Federal Reserve Board of an interest rate cut in November 2002 illustrates this new, more open approach to monetary policy.
    News Analysis
    Due by Su, 04.10.05, 11:45PM
    5 Points/Graded  
    
11. Money Growth and Inflation 
    Tests understanding of the relationship between the value of money and the price level; money supply, money demand, and monetary equilibrium; the quantity equation of money; and the costs of inflation.
    Problem Set
    Due by Su, 04.10.05, 11:45PM
    19 Points/Graded 

Week 14 (04.11.05-04.17.05) 

1. The Debate over Monetary and Fiscal Policy I 
   Examines stabilization in the context of four policy debates: fiscal vs. monetary policy, interest-rate vs. money targeting, the shape of the aggregate supply curve, and rules vs. discretion. Introduces monetarism and the relationship between fiscal policy and interest rates.
   Problem Set
   Due by Su, 04.17.05, 11:00PM
   16 Points/Practice  
   
2. The Debate over Monetary and Fiscal Policy II 
   Examines stabilization in the context of four policy debates: fiscal vs. monetary policy, interest-rate vs. money targeting, the shape of the aggregate supply curve, and rules vs. discretion. Introduces monetarism and the relationship between fiscal policy and interest rates.
   Problem Set
   Due by Su, 04.17.05, 11:00PM
   12 Points/Graded  
   
3. Fiscal Policy, Monetary Policy, and Growth I 
   Examines the importance of fiscal-monetary policy mix, how to interpret the government budget and the national debt, and the burden of the national debt
   Problem Set
   Due by Su, 04.17.05, 11:00PM
   16 Points/Practice  
   
4. Fiscal Policy, Monetary Policy, and Growth II 
   Examines the importance of fiscal-monetary policy mix, how to interpret the government budget and the national debt, and the burden of the national debt.
   Problem Set
   Due by Su, 04.17.05, 11:00PM
   11 Points/Graded  
   
5. The Short-Run Tradeoff Between Inflation and Unemployment 
   This Problem Set includes questions on the Phillips curve (both short run and long run) and its relationship to the aggregate demand-aggregate supply model. Most of the problems include graphs and many include real data.
   Problem Set
   Due by Su, 04.17.05, 11:00PM
   14 Points/Graded  
   
6. Monetary vs. Fiscal Policy in Japan 
   Usually, a government can lift an economy out of a recession either by having the central bank reduce interest rates or by running a budget deficit. However, if nominal interest rates hit zero, the central bank can't lower them any further. And if its debt gets too high, the government cannot keep running budget deficits. Japan could soon be snared in both of these traps.
   News Analysis
   Due by Su, 04.17.05, 11:45PM
   6 Points/Graded  
   
7. Five Debates over Macroeconomic Policy 
   This Problem Set addresses five macroeconomic debates: 1) Should monetary and fiscal policy be used to stabilize the economy? 2) Should monetary policy be made by rule or by discretion? 3) Should the central bank aim for zero inflation? 4) Should the government balance the budget? 5) Should the tax laws be reformed to encourage saving?
   Problem Set
   Due by Su, 04.17.05, 11:45PM
   17 Points/Graded  

Week 15 (04.16.05-04.24.05)

1. Open-Economy Macroeconomics: Basic Concepts 
   This Problem Set covers basic information on an open economy. It includes questions on the flow of goods and capital and on purchasing power parity as a long-run determinant of exchange rates.
   Problem Set
   Due by Su, 04.24.05, 11:45PM
   18 Points/Graded  
   
2. A Macroeconomic Theory of the Open Economy 
   This Problem Set covers basic information on an open economy. It includes questions on the flow of goods and capital and on purchasing power parity as a long-run determinant of exchange rates.
   Problem Set
   Due by Su, 04.24.05, 11:45PM
   16 Points/Graded  
   
3. Introduction to Comparative Advantage 
   Combines explanation and problems to teach the theory of comparative advantage and the concept of gains from trade.
   Problem Set
   Due by Su, 04.24.05, 11:45PM
   16 Points/Practice  
   
4. International Trade 
   Tests understanding of international trade, including comparative advantage, supply and demand of imports and exports, and trade barriers.
   Problem Set
   Due by Su, 04.24.05, 11:45PM
   11 Points/Graded  
   
5. A Falling Exchange Rate in Brazil Increases Exports of Soybeans 
   Issues include: the effects of exchange rates on exports, and hence on aggregate demand; how barriers to trade in agriculture hurt poor countries; how import barriers in a poor country can hurt exports. 
   News Analysis
   Due by Su, 04.24.05, 11:45PM
   5 Points/Graded 

Week 16 (04.25.05-05.01.05)

These homework assignments are completely and totally for extra credit. The topic of price controls will not be covered on the exam. It is covered in Chapter 4 of Ayers/Collinge if you want to review it in the textbook. I needed to offer a fourth experiment as I promised I would at the beginning of the semester, and this is it.

1. Preparing for the Price Ceilings and Price Floors Experiment 
   Shows students how to trade in the subsequent experiment on price controls.
   Problem Set
   Due by Sunday, 05.01.05, 8:45PM
   4 Points/Graded  
   
2. Price Ceilings and Floors: Experiment 
   Assigns students the role of buyer or seller so that they can trade in an online experiment involving used textbooks in the presence of price controls. The experiment has two variations: price ceilings and price floors.
   Experiment
   Held on  Sunday, 05.01.05, at exactly 9:00PM
   Experiment Points: 50 Points
   
3. Price Ceilings and Floors: Analysis 
   Analyzes results of the experiment involving price controls. Considers the consequences of controlling energy prices in California and supporting prices of agricultural commodities. Asks why governments continue to control prices. This is to be read this after the experiment has been completed.
   Reading
   Due by Sunday, 05.01.05, 11:45PM
   0 Points 
   
4. Losses from Price Controls 
   Shows how price controls affect the trading gains of buyers and sellers while creating shortages or surpluses.
   Problem Set
   Due by Sunday, 05.01.05, 11:45PM
   17 Points/Graded  
   
5. Analyzing Price Ceilings and Floors 
   Discusses and assesses understanding of the effect price controls have on equilibrium price and quantity. Assign as a graded Problem Set.
   Problem Set
   Due by Su, 5.2.04, 11:45PM
   17 Points/Graded  
   
6. Effects of Price Controls on Equilibrium Quantities I 
   Builds skills in understanding the consequences of price ceilings and price floors. Compares equilibrium price and quantity with price and quantity outcomes when controls are binding. Also considers when price controls have no effect. Prepares students for the accompanying graded Problem Set.
   Problem Set
   Due by Su, 05.01.05, 11:45PM
   11 Points/Practice  
   
7. Effects of Price Controls on Equilibrium Quantities II 
   Builds skills in understanding the consequences of price ceilings and price floors. Compares equilibrium price and quantity with price and quantity outcomes when controls are binding. Also considers when price controls have no effect. Assign as a graded Problem Set.
   Problem Set
   Due by Su, 05.01.05, 11:45PM
   10 Points/Graded  
   
8. Rent Control: Preventing Capitalistic Acts between Consenting Adults 
   Rent control is the economist's classic example of what happens when governments prevent capitalistic acts between consenting adults. Good intentions, providing affordable housing to working families, produce bad results: decreased supply of rent-controlled apartments, increased prices for non-rent-controlled housing, and the creation of a bureaucracy to prevent free trade between willing adults.
   News Analysis
   Due by Su, 05.01.05, 11:45PM
   14 Points/Graded 
   

Week 17 (5.02.05-5.08.05)