/r/studyeconomics
The purpose of this subreddit is to teach economics from the ground up, providing concise lessons in economics which will allow the reader to understand and engage with the economic issues one comes across in everyday life.
Once a course has started, threads created for that course are for the use of those who have signed up, other comments will be removed.
Anyone can run a course, we're all here to learn, not teach. If you'd like to run a course, message /u/a_rory or /u/iamelben.
/r/studyeconomics
Hi, I’m starting my first year at university next month in France. I’ll study economics and laws, so I was wondering if someone know some nice apps or website (paid or not) dedicated to economics or mathematics to complete my courses. I tested brilliant for maths and I pretty appreciated it, furthermore I don’t really find interesting thighs in economy so if someone have some ideas it would help me a lot.
I have uploaded a number of topics that I had made notes for in my undergrad from DU. You can refer to it at studypool.com
Average Demand & Average Supply Consumption Dynamics of International Financial Crisis Exchange rate determination Expectation Fiscal Policy Inflation, Activity and Nominal Money Growth Inflation, Unemployment, Expectation Inter Temporal Income Hypothesis International Adjustment and Interdependency Labour Market Monetary Policy Open Economy Should Policy maker be Restrained
I've made a schedule and according to that schedule every day I have to learn to chapters and do 5 questions of accounts. First 3 days I was able to complete my target but 4th day I messed up and didn't study at all. How do I stay consistent with my self-studies?
Hi guys,
Here's the first Asset Pricing module discussion. We're reviewing (or doing for the first time) stochastic calculus.
YouTube Videos (very helpful for me; I personally prefer lectures)
Please use this thread - and possibly even https://reddit-stream.com/ - to discuss the math review.
EDIT: This will be weekly. Schedule to follow later tonight.
Hi guys,
We will be going through Cochrane's Asset Pricing over the next week or so. Here's the layout:
*Module 1 (Mathematical Preliminaries) Due 12/22
*Module 2 (Facts) Due 12/23
*Module 3 (Classic Issues) Due 1/2
*Module 4 (Discount Factor) Due 1/3
*Module 5 (Mean-variance frontier and beta representations) Due 1/4
*Module 6 (Factor Pricing Models) Due 1/5
*Module 7 (Econometrics and GMM) Due 1/9
*Module 8 (Fama-French and Performance Evaluation) Due 1/10
*Module 9 (Econometrics of Classic Linear Models) Due 1/11
*Module 10 (Time-Series Predicability, Volatility, and Bubbles) Due 1/12
*Module 11 (Equity Premium, Macroeconomics, and Asset Pricing) Due 1/13
This will be less a "teaching" course and more a "reading together" course.
At the suggestion of /u/EconHelpDead, I'm posting a recording (sorry about the quality) of a conversation I had with my mentor regarding the now-infamous Bank of England paper that caused the great Endogenous Money / Exogenous Money Civil War of 2016 over in /r/badeconomics.
It is a very non-technical conversation, and very accessible to non-academics or casual fans of economics. The conversation is about 35 minutes long, the first 20 or so minutes being about the paper, and the last 15 minutes being about some research my mentor has done on an interesting property of illegal immigration: that it insulates low-skilled native workers from some of the effects of negative labor demand shocks.
#Introduction
Hello and welcome to the third week of econometrics. This week covers the hypothesis testing and the Gauss Markov theorem. These two topics encompass two of the most important theorems in statistics and econometrics.
#Readings
This weeks readings are from Introductory Econometrics 4th ed. by Wooldridge. Sections 3.3-3.5 and a summary of hypothesis testing written by fmn13 and myself. It is not comprehensions but (hopefully) gives a quick overview of the topic.
#Problem Set
The problem set for this week can be found here. Answers to the problem set will (hopefully) be posted no later than one week from today. Feel free to discuss the content below. What things did you find interesting, what was unclear to you, etc.?
Solutions to last weeks problem set can be found here.
#Introduction
Hello and welcome to the second week of econometrics. This week covers the basics of probability, an introduction to statistics, and the basics of multiple regression.
#Readings
This weeks readings are from Introductory Econometrics 4th ed. by Wooldridge. Appendix B.1 and B.3-B.5, Appendix C.1-C.2, and Chpater 3.1-3.2, and Chapter 6.2 (Adjusted R-squared only)
#Problem Set
The problem set for this week can be found here . Answers to the problem set will (hopefully) be posted no later than next Sunday along with the next problem set. Feel free to ask questions and discuss the content in the comments below, but refrain from posting solutions.
Solutions to last weeks problem set can be found here. If the dropbox links do not work try these: Week 1 Solutions, Week 2 Problems.
#Introduction
Hello and welcome to the first week of econometrics. This week serves as an introduction to regression and regression with one independent variable.
#Readings This weeks readings are from Introductory Econometrics 4th ed. by Wooldridge.
Chapter 1, 2.1, 2.2, 2.4 and 2.6
#Problem Set
The problem set for this week can be found here . Answers to the problem set will be posted no later than next Sunday along with the next problem set. Feel free to ask questions and discuss the content in the comments below, but refrain from posting solutions.
#Introduction
We are now ONE week from the end of our 10 week module in Math Econ. Next week will mark the end, which will be celebrated with a problem set from /u/integralds
That being said, welcome to week 9, in which we talk about exponential and logarithmic functions and their applications.
#Readings
Chapter 10 (pg 220-254)
#Learning Objectives
-Learners will be introduced to functions with variables as exponents, i.e. exponential functions.
-Learners will will be introduced to logarithms, their rules, and applications.
-Learners will be exposed to the idea of continuous and discrete exponential growth.
-Learners will become comfortable with simple discounting.
#Problem Set
Please find this week's problem set here. Answers will be posted on Friday. Feel free to ask questions in the comments below, particularly if you find question prompts ambiguous or unclear, but PLEASE DO NOT GIVE AWAY ANSWERS TO THE PROBLEM SET IN THE COMMENTS.
#Discussion
Please use the comments section below to give your insight on the below discussion points:
-What novel concepts did you find in these chapters?
-Where did you see applications for the content discussed in-chapter to economic problems you've seen in your own studies?
-Anything else that struck your fancy?
Find the solution set here. There was a typo in the problem set regarding Question 5. Total cost SHOULD have been (1/3)Q^3 -8Q^2 +100Q+45. Anyway...discuss!
#Introduction
We are now two weeks from the end of our 10 week module in Math Econ. I encourage you to start thinking about when and if you would like to start up the second module.
That being said, welcome to week 8, in which we introduce optimization, a critically (heh) important concept in economic analysis.
#Readings
Chapter 9 (pg 220-254) #Learning Objectives
-Learners will be introduced to the concept of extrema, both relative and absolute.
-Learners will will use the first derivative test to determine critical points and extrema where applicable.
-Learners will be exposed to second and higher derivatives, their meanings, and applications, including the second derivative test..
-Taylor and Maclurin Series will be introduced as well as the LaGrange form of the Remainder.
-Nth Derivative tests for Relative Extrema of a Function of One Variable will be introduced.
#Problem Set
Please find this week's problem set here. Answers will be posted on Friday. Feel free to ask questions in the comments below, particularly if you find question prompts ambiguous or unclear, but PLEASE DO NOT GIVE AWAY ANSWERS TO THE PROBLEM SET IN THE COMMENTS.
#Discussion
Please use the comments section below to give your insight on the below discussion points:
-What novel concepts did you find in these chapters?
-Where did you see applications for the content discussed in-chapter to economic problems you've seen in your own studies?
-Anything else that struck your fancy?
#Introduction
Hey guys, so first I'd like to apologise for the lateness and the low quality of this post, I'll just say that Dublin is a hell of a drug, but I'll hopefully make up for it in a few weeks time with better updates.
Welcome to week 6 of Mathematical Economics. Chapter 8
#Readings
Chapter 8 (pg 178-218)
#Learning Objectives
-Learners will be introduced to the rules of differentiation for functions of one variable as well as multiple functions of the same variable.
-Learners will learn to differentiate between differentials, derivatives, and the total derivative, as well as how to apply these
-Learners will be introduced to implicit functions and their uses
-Learners will become familiar with the comparative statics of General Function Models
-The limitations of static analysis will briefly be discussed
#Problem Set
Please find this week's problem set here. Answers will be posted on Friday. Feel free to ask questions in the comments below, particularly if you find question prompts ambiguous or unclear, but PLEASE DO NOT GIVE AWAY ANSWERS TO THE PROBLEM SET IN THE COMMENTS.
#Discussion
Please use the comments section below to give your insight on the below discussion points:
-What novel concepts did you find in these chapters?
-Where did you see applications for the content discussed in-chapter to economic problems you've seen in your own studies?
-Anything else that struck your fancy, apart from how stupidly late I'm posting this?
Sorry for the delay. Find the solution set here. I know you were all waiting with bated breath to find the answer to the elusive question five. I hope you know how hard I slaved over that question. :P
So...any thoughts?
#Introduction
Welcome to week 6 of Mathematical Economics. Chapter 7 introduces the applications and methods for determining derivatives of products and quotients as well as simple partial derivatives. Applications to macro and microeconomics are included, as well as a brief introduction to Jacobian determinants.
#Readings
Chapter 7 (pg 148-177) #Learning Objectives
-Learners will be introduced to the rules of differentiation for functions of one variable as well as multiple functions of the same variable.
-Learners will learn rules of differentiation for functions with more than one variable.
-The concept of partial derivatives will be introduced.
-The Jacobian determinant and its applications will be introduced.
#Problem Set
Please find this week's problem set here. Answers will be posted on Friday. Feel free to ask questions in the comments below, particularly if you find question prompts ambiguous or unclear, but PLEASE DO NOT GIVE AWAY ANSWERS TO THE PROBLEM SET IN THE COMMENTS.
#Discussion
Please use the comments section below to give your insight on the below discussion points:
-What novel concepts did you find in these chapters?
-Where did you see applications for the content discussed in-chapter to economic problems you've seen in your own studies?
-Anything else that struck your fancy?
Please find this week's solution set here. You probably found this week's problem set a bit less fancy than past weeks, mainly because /u/WhoAreBornOfTea and /u/-Rory- are beyond excellent. I don't expect a ton of discussion from this section as it is just a review of differential calculus, which brings me to my main point of this post:
#Midterm Check-In
First and foremost, let's have a roll-call in the comments of all those who are still with us. Next, consider these questions:
1.) What is working about this course?
2.) What is NOT working?
3.) What can we do to engage you more as a learner?
#Introduction
Welcome to week 5 and the official midterm period for this course. Chapter 6 introduces the basics of differential calculus, which will likely be a review for most in the course. In keeping with /u/WhoAreBornOfTea's direction from the last two weeks, I have attempted to incorporate less pure computation and more conceptual questions designed to get you thinking about the material.
#Readings
Chapter 6 (pg 124-147)
#Learning Objectives
-Learners will be introduced to the concept of the difference quotient.
-The concept of the limit and its properties will be discussed, as well as relevant limit theorems.
-Learners may choose to explore section 6.5 for a review on inequalities.
-Differentiability and Continuity, two key concepts from calculus, will be introduced
#Problem Set
Please find this week's problem set here. Answers will be posted on Friday. Feel free to ask questions in the comments below, particularly if you find question prompts ambiguous or unclear, but PLEASE DO NOT GIVE AWAY ANSWERS TO THE PROBLEM SET IN THE COMMENTS.
#Discussion
Please use the comments section below to give your insight on the below discussion points:
-What novel concepts did you find in these chapters?
-Where did you see applications for the content discussed in-chapter to economic problems you've seen in your own studies?
-Anything else that struck your fancy?
Please find the suggested solution manual.
I've decided to remove question 2(b) from the problem set. Frankly, it's a lot of messy matrix manipulation for very little mathematical insight. If you managed to do it then well done; if not, I would not worry too much.
I am aware some of these will be quite hard for some of you, if you have done little formal maths I don't expect you to be perfect quite yet. The trick for learning from these exercises is to look at them, understand what the intuition behind them is and then try to do it yourself without looking.
I'll be here for some time, so don't hesitate to ask questions.
#Introduction
Welcome to week four, where we will be continuing with our instruction in linear algebra. I've decided to change the nature of the problem set from mechanical to mathematical, so there are fewer exercises but they are slightly harder and certainly more in line with what mathematics is like. This means many of the features of mathematics, such as frequent brand new definitions and notation, and will require a greater use of your logic. The textbook provides ample exercises of a mechanical character for you to practice, which I encourage you to do.
#Readings
Chapter 5 (pg 82-120)
#Learning Objectives
Learners will formalise the concept of matrix non-singularity
Echelon matrices will be introduced, as will matrix rank
Determinant, a key concept, will be presented and five of its properties discussed
Input-output models are to be discussed
#Problem Set
Please find this week's problem set. Answers will be posted on Friday. Feel free to ask questions in the comments below, particularly if you find question prompts ambiguous or unclear, but PLEASE DO NOT GIVE AWAY ANSWERS TO THE PROBLEM SET IN THE COMMENTS.
#Discussion
Please use the comments section below to give your insight on the below discussion points:
-What novel concepts did you find in these chapters?
-Where did you see applications for the content discussed in-chapter to economic problems you've seen in your own studies?
-Anything else that struck your fancy?
Please find the suggested solution manual.
On Monday we will continue onto more linear algebra with Chapter 5.
#Introduction
Welcome to week three, when the going starts to get meatier. This week will see us introduced to linear algebra, of prime importance as its tools are used repeatedly at almost every level of economics. Linear algebra is spread out over two chapters, so next week will build squarely on this week's ideas.
#Readings
Chapters 4 (pg 48-81)
#Learning Objectives
Learners will review matrices, and its basic operations: addition, subtraction, scalar multiplication and matrix multiplication
Learners will review sigma (or summation) notation
Learners will be introduced to linear independence and the concept of a vector space
Learners will be introduced to identity and inverse matrices
Learners will be introduced to Markov chains
#Problem Set
Please find this week's problem set. Answers will be posted on Friday. Feel free to ask questions in the comments below, particularly if you find question prompts ambiguous or unclear, but PLEASE DO NOT GIVE AWAY ANSWERS TO THE PROBLEM SET IN THE COMMENTS.
#Discussion
Please use the comments section below to give your insight on the below discussion points:
-What novel concepts did you find in these chapters?
-Where did you see applications for the content discussed in-chapter to economic problems you've seen in your own studies?
-Anything else that struck your fancy?
You can find the answers to this weeks problem sets here.
On Monday we will be beginning Chapter 4.
#Introduction
Welcome to week two, this week is short and sweet so it might be useful to have a quick look ahead to chapter four as this is when things become somewhat time consuming.
#Readings Chapters 3 (pg 29-47)
#Learning Objectives
#Problem Set
Find the problem set here. Answers will be posted on Friday. Feel free to ask questions in the comments below, PLEASE DO NOT GIVE AWAY ANSWERS TO THE PROBLEM SET IN THE COMMENTS
Here's a clue for question nine using an Edgeworth Box. This shows the current budget constraint and utility maximisations given allocation w of goods a and b for two consumers, 1 and 2. Demand is represented by X. #Discussion Please use the comments section below to give your insight on the below discussion points:
-What novel concepts did you find in these chapters?
-Where did you see applications for the content discussed in-chapter to economic problems you've seen in your own studies?
-Anything else that struck your fancy?
Hello everyone, and happy new year! Sorry for the delay on the problem set answers
MASSIVE EDIT
Find the Solution Set here: https://www.docdroid.net/JC7ocv9/problem-set-1-3.pdf.html
Special thanks to /u/WhoAreBornOfTea for the great help here. I've replaced his/her solutions for mine, because
a.) they are much prettier. No LaTeX for me. :/
b.) they are more accurate.
This is exactly what I was hoping for in doing this course collaboratively. Since I'm learning with you, it takes a lot of the pressure off of me when I'm less the teacher and more just the organizer. Thanks again, mate! :D
#The End.
How did you do? Talk about problems you got wrong and why you think you got them wrong below. If you have issues with any of my answers, just let me know.
See you guys next Monday when /u/-Rory- will be helping us through chapter 3.
#Introduction
Hello Everyone, and welcome to Week One of Math Econ. This first week will feature a combination of topics from two relatively short chapters. Chapter one is a philosophical case for a mathematical approach to economics as well as a brief discussion on the differences between math econ and econometrics. Chapter two is the first part of a review (that will be continued in chapter 3) of concepts from college-level mathematics including set theory, functions and their properties, as well as exponents and their rules.
#Readings Chapters 1 (pg 1-4) and Chapter 2 (pg 5-28) #Learning Objectives
#Problem Set
SLIGHT TYPO: QUESTION 9-THR LEADING COEFFICIENT IS a_2 not a_0. Thanks /u/wearebornoftea (he who watches the watchmen)
Find the problem set here. Answers will be posted on Friday. Feel free to ask questions in the comments below, PLEASE DO NOT GIVE AWAY ANSWERS TO THE PROBLEM SET IN THE COMMENTS
#Discussion Please use the comments section below to give your insight on the below discussion points:
-What novel concepts did you find in these chapters? (For instance, I’d never worked with sets or set theory very much.)
-Where did you see applications for the content discussed in-chapter to economic problems you’ve seen in your own studies?
-Anything else that struck your fancy?
Hi everyone. Wow, so the interest here is far beyond what I imagined it would be. I've had to take a step back and think about how to structure the thing, but I think I've got the gist of how we will do this.
Edit: IF YOU HAVEN'T SUBSCRIBED TO THIS SUB, DO SO NOW!!!!
#The Course
Welcome to /r/studyeconomics course #1, Mathematical Economics. Since this is our first course offering, it is very very VERY much in alpha. We will likely be jiggering things around for the next few weeks, so I ask for as much flexibility as you can stand. This class will be offered in one 10-week module with the option to extend if enough are interested. We start one week from this post. Gird your loins, children.
#The Textbook
Chiang, Alpha C. & Wainwright, Kevin Fundamental Methods of Mathematical Economics. 4th ed. New York: McGraw-Hill, 2004. Print. [Link]
#The Method
As aforementioned, we will take one chapter per week with the exception of week one, which will include both chapters 1 and 2 as a general introduction. Each week, we will create a master post for that week's chapter with problem sets on Monday. The comments section will be for questions and general discussion on material. On Friday, the answers to the problem sets will be posted with discussion to follow in the comments section.
#The Schedule
After reviewing the signup thread, it looks like MOST people have pretty good math backgrounds. To that end, I'm going to consolidate the schedule a bit so that we can maximize (hehe) our time. For the time being, we will now spend one week per chapter unless we experience difficulties along the way. Please consider the schedule below to be tentative.
Week One: 12.28-01.01
Chapter 1: The Nature of Mathematical Economics
Chapter 2: Economic Models
Week Two: 01.04-01.08
Chapter 3: Equilibrium Analysis in Economics
Week Three: 01.11-01.15
Chapter 4: Linear Models an Matrix Algebra
Week Four: 01.18-01.22
Chapter 5: Linear Models and Matrix Algebra (Cont'd)
END OF PART ONE OF THE COURSE
Week Five: 01.25-01.29
Chapter 6: Comparative Statics and the Concept of the Derivative
Week 6: 02.01-02.05
Chapter 7: Rules of Differentiation and Their Use in Comparative Statics
Week 7: 02.08-02.12
Chapter 8: Comparative-Static Analysis of General-Function Models
*END OF PART TWO OF THE COURSE
Week 8: 02.15-02.19
Chapter 9: Optimization: A Special Variety of Equilibrium Analysis
Week 9: 02.22-02.26
Chapter 10: Exponential and Logarithmic Functions
Week 10: 02.29-03.04
Chapter 11: The Case of One or More Choice Variables
END OF PART THREE OF THE COURSE / SOFT END TO THE COURSE
So that's it. That's what I've got. I'm open to any and all suggestions on how to make the course better, how better to structure it, etc.
Howdy folks. By now, you've probably seen either /u/-Rory- or me talking about starting up a course in math econ. Since it's going to be a little haphazard to try to keep up with interest across platforms, I'm creating this post to keep a tally of interested people. Simply comment with your username below, and once we are ready to get started, I'll let you know, but it'll likely be after the holidays around the time when school starts back for many of us.
Textbook: Fundamental Methods of Mathematical Economics by Alpha Chiang. 4th edition.
Prerequisites: Calculus I, Intro to Micro, Intro to Macro, (probably good to have some experience with matrices as well, but we will cover those going into chapter 4).
This will probably be a ~9-10 week commitment on your part, but once we have a better idea of the amount of people and everyone's math background, we will get a firm syllabus out.