Mid Semester Summary Notes

Description

Lots of graphs, annotations and explanation of all concepts covered in the first half of the semester CONTENTS Consumer Behaviour (Preferences and Indifference Curves, Utility Function, Budget Constraints) Consumer Utility Maximisation (Maximisation and Re-Maximisation, Compensating Variation, Equivalent Variation) Demand Curves (From optimisation to demand curve, Shape of demand curve, Welfare analysis, Elasticity) Intertemporal Choice and Human capital production function Uncertainty (Expected values, Risk preferences, Fair insurance, Unfair insurance) Production (Production function, Returns to scale, Mathematical production function, Cost of production, Cost curves, Changing costs)