# Questions tagged [self-study]

Questions about self-studying economics, including curriculum design, study strategies, resources, etc.

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### Learn from Scratch the fundamental maths used in economic theory in order to pass the civil service of economists entry exams

I want to enter a Civil Service body of social security economists and to pass the exams I need to learn from scratch fundamental mathematics used to solve typical exercises in micro and macroeconomic ...
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### Introductory texts about the basics of currencies and finance - ideally various perspectives (not just neoclassical)

I am trying to understand de-dollarisation as someone starting to read up on international relations on my own i.e. I'm not in college anymore and I don't have a background in economics. The first ...
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### Aggregate Demand and Aggregate Supply

Suppose the economy is at full employment and aggregate demand falls. Show the effects on output and prices in the short-run. Also, show how the Keynesian aggregate supply adjusts over time to bring ...
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### Irrelevance of Heterogeneous Agent Modelling

This is a question from a previous year PhD entrance exam. I have outlined how I have tried to tackle the problem as well: N.B. 1 This exam is of 100 points and this particular problem is of 25 points....
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### About Theorem 3.5 (The Finite-Approximation Theorem) in Game Theory: Analysis of Conflict by Roger Myerson

I am study infinite strategy set using Myerson's Game Theory textbook. The author stated the following theorem (Theorem 3.5) but did not prove it. I tried the proof, and would really appreciate it if ...
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### Applying dynamic programming to constrained utility

I am trying to solve problem that looks like this; there is utility function that takes $x$ and $y$ as inputs, $x$ is produced by production function that depends on labor $l+y=1$. $x, y$ depend on $t$...
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### What happens if the volatility in the equity market increases? Does interest rates move up or down?

I think both can happen and here is my reasoning. Please correct me if I am wrong. During times of increased volatility in the equity market, investors adopt a more risk-averse approach and gravitate ...
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### Graduate level economics lecture videos?

I have a background in economics(undergrad + plus some research) I want to try to teach myself graduate level economics. Are there any good lecturers who cover this topic online(youtube or another ...
1 vote
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### Utility Possibility Set and Utility Possibility Frontier

Consider an Exchange economy with two individuals $a$ and $b$ and two goods $1$ and $2$. Denote consumption of good $j$ by individual $i$ as $x_{ij}$ for $i\in\{a,b\}$ and $j\in\{1,2\}$ The utility ...
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### Open Economy IS-LM with Perfect Capital Immobility

As a part of self-study for entrance exams I was trying to solve the following problem: The problem with this question is that I feel like the equation for $TB$ is incorrect, because we are given ...
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### How to calculate the maximizing number of firms in a Cournot competition?

I am trying to figure out the answer to the following two questions with given context: 'In a scenario in which there exist multiple identical firms with a large supply of products available, each ...
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### Regression OLS estimator with $x_t=1/t$

I found some questions in a book and wanted to train for my upcoming exam (expect to see some more posts from me idk), anyhow this is the question. To solve point A I rewrote the whole equation in ...
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1 vote
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### Why there is no study on the forecasting methods for the exchange rates of CBDCs? What do you think?

What do you think about the predictiion/forecasting the exchange rate of CBDCs? (CBDC= CENTRAL BANK DIGITAL CURRENCY) I cannot find any paper on this issue in the literature. But, there are some ...
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### Eurodollar exercise

I'm trying to solve an exercise with Eurodollar and deliverable bonds. This is the text in matlab Basically there are two Bonds A and B and I need to find a few things about them. I use the formula ...
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### FOC greater than 0

I couldn't get my head around this part. Basically, I have to prove that a consumer has to hold a positive amount of assets, i.e. $x > 0$. A hint suggested to find take the FOC, and then set $x = 0$...
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### Probability for Economics

I need to learn ASAP on the list of topics: Multivariate Distribution, discrete and continuous random variables; integration and expectation; law of large numbers and central limit theorem, confidence ...
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### Challenging question in microeconomics - local nonsatiation

I'm studying advanced micro from the Mas-Colell book (exercise 16.C.1) I was wondering if anyone can help me to solve the following exercise. I have no idea how to deal with it Show that if a ...
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### Expected payoff of bidder and expected revenue for seller?

There are 2 bidders in an auction that has a style as follows. There is a price clock that continuously rises starting from zero. The bidders gradually drop out of the auction and the clock stops as ...
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### How to find the share price with respect to the type of share?

As someone coming from a mathematical background who has started reading into some basic finance, there are a few concepts that I am struggling to understand and would be grateful if I could check to ...
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### Every Nash equilibrium is Subgame perfect Nash equilibrium

Every Nash equilibrium is Subgame perfect Nash equilibrium. This statement is wrong. I show this by an counter example. Is this example enough and good to disprove this statements? Please share your ...
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### Risk dominance in NE

I am trying to wrap my head around the idea of risk dominance but I am not confident whether or not what I am thinking is correct. A B A 80, 80 80, 0 B 0, 80 100, 00 The solution says that the ...
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1 vote
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### Effect of shock to technology level in the Ramsey model

My instructor said that the answer I wrote below is not correct without any explanation. But I dont know why. I need to learn its correct answer. Please share your ideas with me. I asked the same ...
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How would you show that whenever 𝑉 additively represents an agent’s preferences, then so does any function 𝑉′ that differs from 𝑉 only by the choice of zero and unit. If we assume that 𝑉 ...
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### Recursive economy with uncertainty in two islands

There are two economies A and B with infinitely many identical households. Since there are infinitely many identical households in each economy, they are all price taker. Maeasure of agents in A and B ...
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### Show that the order of deletion doesn’t matter for the set of strategies surviving iterated elimination of strictly dominated strategies

Question from M.W.G-8B4 Show that the order of deletion doesn’t matter for the set of strategies surviving iterated elimination of strictly dominated strategies. My proof attempt I assume $G_n$ the ...
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### Walrasian equilibrium with quasi linear function

There is a two-person exchange economy Each agent has the following utility $u_i(x_i,y_i)=v(x_i)+y_i$ for agent $i=\{A,B\}$ Assume that $v$ is strictly concave and increasing function that has a ...
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### Deriving ADF unit root test form for the time series with quadratic deterministic trend

I have the following time series process $y_t$ $$\Delta y_t = \delta + \gamma t + \epsilon_t$$ where $e_t$ is white noise process with the variance of $\sigma^2$. I guess that whereas $\Delta y_t$ is ...
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### Application of Maximum Likelihood estimation (MLE) to the Generalized Least Square (GLS) model

I have the following regression $$y = X\beta +u$$ where $y$ and $u$ are $(n\times 1)$ and $X$ is a fixed $(n \times k)$ matrix with full column rank and $\beta$ is an unknown $(k\times 1)$ vector of ...
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### Please check for payoffs which I calculated in the incomplete and imperfect game

Taxpayers may either have a high income or low income, and they may be either opportunistic or honest. The tax collector cannot observe any of these characteristics, but after receiving a report from ...
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### All-pay auction question

Two players take part in the following auction for a £1000 prize. The two players submit bids simultaneously, and the higher bid wins the prize (if bids are identical each gets £500). Both the winner ...
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### MWG 8.B.7 - Any strictly dominant strategy must be a pure strategy

This question from MWG 8.B.7 Any strictly dominant strategy must be a pure strategy. How can I show this? My explanation is as follows: Suppose we have a strictly dominant strategy, $\sigma_i$ . ...
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### Find SPNE in the two stage game

Consider a firm in a two period world. The firm operates as a monopolist in the first period. In the second period, another firm will enter and the two firms will act as Cournot duopolists (i.e., in ...
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### Finding the Pareto efficient allocations

Consider a 2 person 2 good economy where there is a private good $x$ and a public good $y$. Agent 1 has an endowment of 10 units of the private good and Agent 2 has an endowment of 20 units of the ...
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### Write down budget constraint

Assume an infinite horizon representative agent economy with the following consumer preferences $u(c_t)$ The production technology of this economy uses capital and land, which is fixed amount in ...
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### Real or monetary values? In the context of Classic model

I am studying the classing model. And I have a basic question what are the units of the following variables( monetary or real?) Inflation rate ($\pi$), wage (w), Labor supply N, consumption C, ...
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### Endogenous growth model with externalities

I have a following model of endogenous growth where each firm has the following technology; $$y_t=AK_t^{1-\alpha} k_t^{\alpha} n_t^{1-\alpha}$$ The production function above defines an externality. I ...
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### Question on Ramsey model with shock on technological level

I have a question on Ramsey Model. Consider the following one-sector, closed, representative household economy. I have the following Cobb Douglas production function in intensive form f(k)=Ak(t)^{\...
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### Austrian School Regret Theory

I am having a time thinking about how Ruthbard and Mises speak about trade agreements and the concept that every economic transaction is just because it is voluntary and subjectively benefits both ...
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### Learning Resource Question - Computable General Equilibrium Modelling

Several years after graduation, I would like to learn some practical computable general equilibrium (CGE) modelling such as a CGE that can handle distributional outcomes. Does anyone know of open-...
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For the logit estimate of the slope parameter,I would like to obtain the marginal effect of the regressor ndisease evaluated at $\Lambda (x'\beta)=\bar{y}$, where $\bar{y}$ is mean of $y$. I obtain ...