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Class Notes for ECO 211 at University of Miami (UM)

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UMECO 211Hugo FariaFall

ECO 211 Lecture Notes - Lecture 7: Equation, Demand Curve, Normal Good

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8 Oct 2018
0
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UMECO 211LorcaFall

ECO 211 Lecture Notes - Lecture 2: Gross Domestic Product, List Of 30 Rock Characters, Unemployment

OC3481875 Page
21 Jan 2015
56
Short answer: list and define the three different types of unemployment, in nbc"s hit tv show 30 rock, actor dean winters plays dennis duffy who works
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UMECO 211Dr.SpigelmanFall

ECO 211 Lecture Notes - Lecture 11: Marginal Product, Claas

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4 Nov 2016
10
In capitalist economy, people paid value of marginal product of labor. Value of marginal product of labor=pxdq/dl (price x marginal product of labor) W
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UMECO 211Dr.SpigelmanFall

ECO 211 Lecture Notes - Lecture 14: Vehicle Insurance, Determinacy, Monopolistic Competition

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7 Dec 2016
1
Cartels (economic) cartel--group of people that act like a monopoly. Two conditions for when cartel likely to form: In us, illegal to have cartels/coll
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UMECO 211Dr.SpigelmanFall

ECO 211 Lecture Notes - Lecture 13: Strategic Dominance, Iden, Opata Language

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4 Nov 2016
3
Game--repeated or one-time event where players try to optimize something. Studied because it has implications of how firms behave, can be applied to fi
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UMECO 211Dr.SpigelmanFall

ECO 211 Lecture Notes - Lecture 6: Variable Cost, Marginal Revenue, Fixed Cost

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8 Sep 2016
5
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UMECO 211Dr.SpigelmanFall

ECO 211 Lecture 4: ch 4

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7 Sep 2016
2
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UMECO 211Dr.SpigelmanFall

ECO 211 Lecture 12: Consumer Theory

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4 Nov 2016
3
More is better (northeast is direction of this) Transitive property/preferences are consistent: if you like a better than b & b better than c, then you
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UMECO 211Dr.SpigelmanFall

ECO 211 Lecture Notes - Lecture 10: Market Clearing, Working Poor, Hyperinflation

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22 Sep 2016
8
Govt tries influencing market outcomes, such as taxes & subsidies. May redistribute wealth to address equity issues: transfer payments, taxing. Regress
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UMECO 211LorcaFall

ECO 211 Lecture Notes - Lecture 1: Externality, Club Good, Deadweight Loss

OC3481874 Page
16 Jan 2015
54
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UMECO 211LorcaFall

ECO 211 Lecture Notes - Lecture 1: Opportunity Cost, Economic Surplus, Business Cycle

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16 Jan 2015
41
Principle 1: people face tradeoffs: guns vs butter: if an economy allocates more resources towards weapons it can produce less commodities, efficiency
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UMECO 211Dr.SpigelmanFall

ECO 211 Lecture Notes - Lecture 8: Perfect Competition, Takers, Fixed Cost

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9 Sep 2016
1
Questions over whether there really exists perfect competition anywhere. Prices different sometimes even within same thing (ex: gas price differs by lo
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