This website provides help for common economic problems faced by university students. The idea is to answer common questions which are often omitted or poorly explained in the "usual" textbooks.

**Microeconomics**

- (no title)
- Average cost and marginal cost pricing rule
- Balance of trade formula
- Balanced growth path with AK model
- Beta-hat is an unbiased estimator (OLS estimator is unbiased)
- Burden of taxation in supply and demand Model
- Calculate the equilibrium price and quantity from math equations
- Calculating GDP growth
- Can two indifference curves cross?
- Classical supply curve
- Cobb-Douglas function
- Commodity money v Fiat Money
- Comparative advantage, Absolute advantage and gains from trade
- Consumer part of dead weight loss, Producer part of dead weight loss and total dead weight loss
- Consumer Price Index (CPI) and inflation rate formula
- Consumer surplus with perfectly elastic demand
- Consumer surplus, producer surplus and Dead weight loss with inelastic supply curve
- Consumer, producer and total surplus
- Cross price elasticity of demand
- Deadweight loss monopoly
- Deadweight loss monopsony
- Define elasticity | inelastic demand | elastic demand |Unit elasticity | short run v long run elasticty | Mid-point formula
- Difference between economic and accounting profit
- Economic expansion path
- Economics of golden balls [game theory]
- Equilibrium price and quantity after tax
- Expansionary and Contractionary Monetary Policy
- Expenditure Minimization problem and Expenditure function
- Factor shares and Cobb-Douglas Factor shares
- Find dead weight loss and quantity produced from tax revenue
- holding national savings constant, an increase in Net foreign investment (NFI) does what to the accumulation of capital
- How to calculate expenditure elasticity
- How to calculate National Savings, Public savings and Private Savings
- How to derive labor supply function
- Indirect utility function
- international trade: production possibility frontier, unit labor requirements and relative prices
- Intuitive explanation of a determinant.
- Isoquant and isocost line
- Jack-knife resampling
- MaxiMin Strategy/MiniMax strategy
- Natural rate of unemployment
- Net foreign investment formula
- Positive and Normative Economics
- Potential GDP formula and output gap
- Price floor and tax on cheese market
- Prove if an allocation is pareto optimal it is also efficient
- Relative supply
- Show in a supply and demand diagram how minimum wage can increase unemployment
- Supply and demand model with imports
- Supply and Demand with subsidy
- Supply schedule
- Suppose the government borrows $20 billion more next year than this year [market for loanable funds]
- Suppose the government imposes a $2 tax on this market [example]
- Suppose the government imposes a tariff on all imports
- Terms of trade
- The market for loanable funds
- The natural level of output
- Three different ways to calculate GDP
- Types of price elasticity of demand
- Utility maximization with perfect complements
- What happens to demand when income increases?
- When demand increases what happens to supply
- Why does aggregate supply slope upwards?
- Why does revenue decrease with elastic demand when price increases
- Why does the demand curve slope downwards
- why is the demand curve a straight line
- Why price floors reduce social surplus

**Macroeconomics**

- (no title)
- Average cost and marginal cost pricing rule
- Balance of trade formula
- Balanced growth path with AK model
- Beta-hat is an unbiased estimator (OLS estimator is unbiased)
- Burden of taxation in supply and demand Model
- Calculate the equilibrium price and quantity from math equations
- Calculating GDP growth
- Can two indifference curves cross?
- Classical supply curve
- Cobb-Douglas function
- Commodity money v Fiat Money
- Comparative advantage, Absolute advantage and gains from trade
- Consumer part of dead weight loss, Producer part of dead weight loss and total dead weight loss
- Consumer Price Index (CPI) and inflation rate formula
- Consumer surplus with perfectly elastic demand
- Consumer surplus, producer surplus and Dead weight loss with inelastic supply curve
- Consumer, producer and total surplus
- Cross price elasticity of demand
- Deadweight loss monopoly
- Deadweight loss monopsony
- Define elasticity | inelastic demand | elastic demand |Unit elasticity | short run v long run elasticty | Mid-point formula
- Difference between economic and accounting profit
- Economic expansion path
- Economics of golden balls [game theory]
- Equilibrium price and quantity after tax
- Expansionary and Contractionary Monetary Policy
- Expenditure Minimization problem and Expenditure function
- Factor shares and Cobb-Douglas Factor shares
- Find dead weight loss and quantity produced from tax revenue
- holding national savings constant, an increase in Net foreign investment (NFI) does what to the accumulation of capital
- How to calculate expenditure elasticity
- How to calculate National Savings, Public savings and Private Savings
- How to derive labor supply function
- Indirect utility function
- international trade: production possibility frontier, unit labor requirements and relative prices
- Intuitive explanation of a determinant.
- Isoquant and isocost line
- Jack-knife resampling
- MaxiMin Strategy/MiniMax strategy
- Natural rate of unemployment
- Net foreign investment formula
- Positive and Normative Economics
- Potential GDP formula and output gap
- Price floor and tax on cheese market
- Prove if an allocation is pareto optimal it is also efficient
- Relative supply
- Show in a supply and demand diagram how minimum wage can increase unemployment
- Supply and demand model with imports
- Supply and Demand with subsidy
- Supply schedule
- Suppose the government borrows $20 billion more next year than this year [market for loanable funds]
- Suppose the government imposes a $2 tax on this market [example]
- Suppose the government imposes a tariff on all imports
- Terms of trade
- The market for loanable funds
- The natural level of output
- Three different ways to calculate GDP
- Types of price elasticity of demand
- Utility maximization with perfect complements
- What happens to demand when income increases?
- When demand increases what happens to supply
- Why does aggregate supply slope upwards?
- Why does revenue decrease with elastic demand when price increases
- Why does the demand curve slope downwards
- why is the demand curve a straight line
- Why price floors reduce social surplus