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Math
MATH-UA 211
Majmudar
MATH-UA 211 Lecture 21: Partial Derivatives and Partial Elasticities
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MATHUA 211 Lecture 21 Partial Derivatives and Partial Elasticities The term continuous means that the function is constructed from continuous functions of each variable For example: g(x,y)= ln(x)y is continuous at every (a...

Math
MATH-UA 211
Majmudar
ECON-UA 1 Lecture Notes - Lecture 20: Reserve Requirement, Balance Sheet, Money Creation
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ECON UA 1 Lecture 20 Money and Banking Historical stages of money 1.Commodity money (has important nonmoney value) Anything of value (animal pelts) Precious metal pieces Precious metal coins Heavy, hard to verify (clipping...

Economics
ECON-UA 1
Lieberman
ECON-UA 1 Lecture 21: Leverage and Insolvency
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ECON UA 1 Lecture 21 Leverage and Insolvency Leverage Leverage determines the likelihood of bank becoming insolvent Personal example (home purchase) Equity = total value of an assetall liabilities relevant to that asset Le...

Economics
ECON-UA 1
Lieberman
MATH-UA 211 Lecture Notes - Lecture 20: Handshape, Partial Derivative
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MATH UA 212 Lecture 20 Partial Derivatives (Part I) Partial Derivative Changing two variables instead of one Have to specify which variable changes F(a,b) change x with respect to y x F(a,b) change y with respect to x y Wh...

Math
MATH-UA 211
Majmudar
ECON-UA 1 Lecture Notes - Lecture 18: Debt Ratio
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ECON UA 1 Lecture 18 National Debt National Debt Def: Total amount U.S. government has borrowed and still owes (stock variable) Total loans borrowed by Gov = G T = budget deficit (flow variable) Official national debt toda...

Economics
ECON-UA 1
Lieberman
ECON-UA 1 Lecture Notes - Lecture 19: Precious Metal, Money Supply, Commodity Money
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ECON UA 1 Lecture 19 National Debt Continued Four conclusions about the national debt 1.We can run deficits forever, and debt can increase forever as long as it grows no faster than GDP (debt guideline) 2.Temporarily shoot...

Economics
ECON-UA 1
Lieberman
ECON-UA 1 Lecture Notes - Lecture 17: Output Gap, Procyclical And Countercyclical
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ECON UA 1 Lecture 17 Fiscal Policy Fiscal policy in Keynesian context or in order to change outcome and employmentCT Classical model, use supply side policies, not demand side policies G = 1(1MPC) X GDPG Real life multipli...

Economics
ECON-UA 1
Lieberman
ECON-UA 1 Lecture Notes - Lecture 16: Disposable And Discretionary Income
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ECON UA 1 Lecture 16 Automatic Stabilizers and Destabilizers Automatic Stabilizers Definition: Any feature of the economy that automatically shrinks each round of the multiplier process Stabilizers dominate real world mult...

Economics
ECON-UA 1
Lieberman
MATH-UA 211 Lecture Notes - Lecture 17: Minimax, Stationary Point, If And Only If
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MATHUA 211 Lecture 17 Finding and Graphing Absolute and Local Minimum and Maximum Fermats Theorem If f(x) has a local maxmin at C and if f(C) exists, then f(c) exists, then f(c)=0 is called a stationary point oOpposite of ...

Math
MATH-UA 211
Majmudar
MATH-UA 211 Lecture 16: Revenue Elasticity and Single Variable Optimization
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MATHUA Lecture 16 Revenue Elasticity and Single Variable Optimization Elasticity (Continued) 2 Cost of producing q kgs of something is c(q)= q+q Compute elasticity with respect to q, is c elastic at q=3? q(2q+1)2q+1 x*7 oF...

Math
MATH-UA 211
Majmudar
ECON-UA 1 Lecture Notes - Lecture 15: Real Interest Rate, Autonomous Consumption
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ECON UA 1 Lecture 15 Keynesian Model Equations Critical Assumption: economy is demandconstrained Demand creates its own supply Consumption = C (output, real wealth, real interest rate) Y = disposable income = Y T C a + bY

Economics
ECON-UA 1
Lieberman

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