ECON2105, ECON2106, and ECON4999
Problematic problems ....
Here I am posting worked problems from the in-chapter or end-of-chapter exercises and online StudyPlan or address other problems that students tend to struggle with. If you encounter a problem that stumps you, and I feel that the class as a whole would benefit from a worked example, email me and I'll work it up. (However, email me in good time!) Note that the chapter numbers refer to the combined (micro + macro) edition of the book. If you have the split version of the book, look for the chapter title rather than at the chapter number.
Chapter 01 - Getting started
Chapter 02 - The U.S. and global economies
Chapter 03 - The economic problem
Chapter 04 - Demand and supply
Ch_04_01 [Chapter exercise 4.1: analyzing quantity supplied vs supply and quantity demanded vs demand]
Chapter 05 - Elasticities of demand and supply
Ch_05_01 [some hints on properly calculating elasticities]
Ch_05_02 [an example of how to calculate the price elasticity of demand properly]
Chapter 06 - Efficiency and fairness of markets
Chapter 07 - Government influences on markets
Ch_07_01 [quiz/test problem uses wrong unit of measurement; here is how to handle this]
Chapter 08 - Taxes
Ch_08_01 [a couple of "odd" quiz/test question for the "Tax" chapter]
Chapter 09 - Externalities
Ch_09_01 [converting total benefit and total cost into marginal benefit and marginal cost]
Chapter 10 - Public goods and common resources
Ch_10_01 [figuring marginal private and social benefits, etc.]
Ch_10_02 [exercise 4 fully worked; plus an additional example]
Chapter 11 - Consumer choice and demand
Chapter 12 - Production and cost
Chapter 13 - Perfect competition
Chapter 14 - Monopoly
Ch_14_01 [single-price monopoly vs perfect price discrimination]
Chapter 15 - Monopolistic competition
Chapter 16 - Oligopoly
Chapter 17 - Regulation and antitrust law
Chapter 18 - Demand and supply in factor markets
Chapter 19 - Inequality and poverty
Ch_19_01 [end-of-chapter exercise #5; computing net taxes/benefits as percentage of income]
Chapter 20 - GDP and the standard of living
Ch 20_01 [chapter 5, chapter checkpoint #7]
Ch 20_02 [calculating real GDP using the chained-dollar method]
Ch 20_03 [calculating nomimal GDP, nom GDP growth, real GDP growth, and cost-of-living increases]
Chapter 21 - Jobs and unemployment
Ch 21_01 [calculation of u-rate and labor force participation rate]
Ch 21_02 [another example]
Chapter 22 - The CPI and the cost of livign
Ch 22_01 [calculations of CPI's for various countries across various years]
Ch 22_02 [calculation of CPI's for an individual person]
Chapter 23 - Potential GDP and the natural unemployment rate
Ch_23_01 [production function, labor supply, and labor demand; "movement along" vs "shift of" the lines]
Chapter 24 - Investment and saving
Ch 24_01 [calculating capital gains]
Chapter 25 - Economic growth
Chapter 26 - Money and the monetary system
Ch_26_01 [calculating M1, M2, and MB (monetary base)]
Chapter 27 - Money creation and control
Ch 27_01 [calculating money, currency, and deposits]
Ch 27_02 [calculating and applying the money/deposit multiplier]
Ch 27_03 [the Fed sells securities - what happens next?]
Chapter 28 - Money, interest, and inflation
Ch 28_01 [after-tax real interest rate]
Chapter 29 - AS-AD and the business cycle
Chapter 30 - Aggregate expenditure
Ch_30_01 [equilibrium expenditure]
Chapter 31 - Fiscal and monetary policy effects
Chapter 32 - The short-run policy tradeoff
Chapter 33 - Fiscal and monetary policy debates
Chapter 34 - International trade
Chapter 35 - International fiance
Ch 35_01 [U.S. balance of payments exercise]