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ECON 220Week 1
Introductions
• Name• Where you’re from• Why are you interested in Economics• Or• Something interesting about yourself.
Administrative things
• Moodle page: Get your coursepaper, tutorial worksheets and solutions, and lecture slides.
• Textbook: Varian, Intermediate Microeconomics• Office hours: Tuesdays 11-11:50, Old Eng. Bldg. C41• Email: [email protected]• My website:
www.lancaster.ac.uk/pg/alia10/econ220.html
My Expectations
• Read the textbook and keep up with the readings for each week.
• Attend the lectures and take notes.• Attempt every question on the weekly
worksheets. • Bring completed work, any questions that you had
to tutorials.• Participate in tutorials: discussions, group work,
individual work at the board.
What we’ll do in Tutorials
• Discuss answers to some worksheet questions.• Work through some worksheet problems. • Note: We will not be able to work through all
problems in the tutorial – it’s up to you to do that on your own.
• Solutions will be provided by lecturers for all problems, so you can check your answers.
• Email me if you have difficulty with any particular problems.
In-Class Activity• Split up into two (or three) teams.• Each team will have a set of problems to do on
the board. • Each team member do one problem.• Teams can decide who goes first, problems can be
done in any order.• Teammates can ask their team members for help
if they need it. • Whichever team gets the most correct answers
first wins.
Activity – Solve for dy/dxTeam 1 Team 21. 𝑦=𝑥3−4 𝑥5+10 1. 𝑦=𝑥4+5 𝑥6+15
2. 𝑦=𝑥1 /2−𝑥−1/2+𝑥2.
3. 𝑦=2(3 𝑥2)1 /2+𝑥1/2 3. 𝑦=3(2𝑥2)1 /2−𝑥−1 /4
4. 𝑦=𝑥−1 /2+(𝑥𝑧)1/2 4. 𝑦=𝑥3 /4−(𝑥 𝑧 2)1 /2
5. 5.
6 . 𝑦=𝑥2−7 𝑥4+246 . 𝑦=𝑥−7 /8+𝑥−3 /4+2 𝑥
7 . 𝑦=2 𝑥1 /2+(𝑥2 𝑧 4)1/27 . 𝑦=4(5 𝑥2)1 /2+3𝑥2
8. 8. 𝑦=𝑥− 1/2+(𝑥3 𝑧6)1 /3
Solutions (Team 1 problems)1. 𝑦=𝑥3−4 𝑥5+10
2. 𝑦=𝑥1 /2−𝑥−1/2+𝑥
3. 𝑦=2(3 𝑥2)1 /2+𝑥1/2
4. 𝑦=𝑥−1 /2+(𝑥𝑧)1/2
5.
6 . 𝑦=𝑥−7 /8+𝑥−3 /4+2 𝑥
7 . 𝑦=4(5 𝑥2)1 /2+3𝑥2
8.
𝑑𝑦𝑑𝑥
=3 𝑥2−20 𝑥4
𝑑𝑦𝑑𝑥
=2√3+ 12𝑥− 1/2
𝑑𝑦𝑑𝑥
=16(𝑥12−𝑥
34 )3(1
2𝑥−12−34𝑥−14 )
𝑑𝑦𝑑𝑥
=4 √5+6 𝑥
𝑑𝑦𝑑𝑥
=6 (𝑥 −13 +𝑥2)3
(− 13 𝑥−43+2𝑥 )+2𝑥
Solutions (Team 2 problems)1. 𝑦=𝑥4+5 𝑥6+15
2.
3. 𝑦=3(2𝑥2)1 /2−𝑥−1 /4
4. 𝑦=𝑥3 /4−(𝑥 𝑧 2)1 /2
5.
6 . 𝑦=𝑥2−7 𝑥4+24
7 . 𝑦=2 𝑥1 /2+(𝑥2 𝑧 4)1/2
8. 𝑦=𝑥− 1/2+(𝑥3 𝑧6)1 /3
𝑑𝑦𝑑𝑥
=4 𝑥3+30 𝑥5
𝑑𝑦𝑑𝑥
=34𝑥− 1/4
−12𝑧 𝑥
− 12
𝑑𝑦𝑑𝑥
=6(𝑥− 12+𝑥2)(− 1
2𝑥¿¿−3 /2+2𝑥 )+1¿
𝑑𝑦𝑑𝑥
=2𝑥−28 𝑥3
𝑑𝑦𝑑𝑥
=𝑥−1 /2+𝑧 2
What can you do this week?
• Get the book and start reading for next week!• Brush up on your calculus.• Download the Week 2 worksheet and start
working on it – ask questions in the lecture if you get stuck.– Note: the week 2 worksheet is constrained
optimization and unconstrained optimization.