SIM UOL August 2012 Intake

[fruityflash]

does anyone understand the first diagram in pg 14 (of the pdf) of the notes?

and the order of drawing all those lines.

You mean the consumer diagram?

 

[adv_illusioned]

You mean the consumer diagram?

yup. the consumer one. i wanna know how they can just combine 2 questions (with different variables) into 1 diagram with all the curves/lines.

 

[chiwawa23]

oh are you guys meeting up?

Not sure ah, dropkickme never tell me anything though.

 

[chiwawa23]

does anyone understand the first diagram in pg 14 (of the pdf) of the notes?

and the order of drawing all those lines.

Do u mean the lec notes for the prep classes?? U started studying already??

 

[Deadpool.]

Not sure ah, dropkickme never tell me anything though.

Maybe we should collate a list of those going for the 7th Aug prep classes or something.

 

[chiwawa23]

Maybe we should collate a list of those going for the 7th Aug prep classes or something.

Think so too, should have a number of ppl going.

 

[chiwawa23]

Anybody here register for maths prep class also on 07 aug morning 8.30-11.30am??

 

[Dropkickme]

Anybody here register for maths prep class also on 07 aug morning 8.30-11.30am??

Been busy, sorry.

Alright here's a list of those going for August 7 0830HRS preparatory classes:

1) chiwawa23
2) dropkickme
3) domodomo
4) Deadpool.
*add on to the list*

Let's meet at the benches where we had our enrolment talk at around 0815HRS.

 

[adv_illusioned]

Do u mean the lec notes for the prep classes?? U started studying already??

well tried to and failed upon dissecting the diagram. seems like the lecturer had left it out on purpose to keep people awake to copy notes.

 

[walsly]

well tried to and failed upon dissecting the diagram. seems like the lecturer had left it out on purpose to keep people awake to copy notes.

link the picture here? so everybody can discuss togt =p

 

[adv_illusioned]

page 14 first pic



page 14 second pic



questions:
1. what are the order of drawing the lines
2. how are the lines BL0 and BL1 used?
3. for the second pic, is it a continuation of the first pic or a start of a new question?

 

[walsly]

questions:
1. what are the order of drawing the lines
2. how are the lines BL0 and BL1 used?
3. for the second pic, is it a continuation of the first pic or a start of a new question?

BL0 is your initial budget constraint of your meal. when the price of meal increases, your budget constraint shrinks, that is the amount of your meal purchasable by your income with the new price is now lower, hence the budget line shifts to the left to BL1.
Your initial indifference curves/utility is U2 and the new one is U1. (u will learn more about it when yr lesson starts)
In order to show u the substitution effect, the hypothetical budget line HH is draw against the old indifference curve(this is known as the Hicksian sub. effect)
point C is the original bundle of goods that give u the optimal utility of U2. Hence your sub.effect is C to D which is negative(moving left)
picture 2 might hav an error. The question in picture 2 might not be referring to that pic. Because the budget lines drawn are incorrect as a change in income will result in a total shift of budget lines instead of pivoting. So just ignore that qns, but follow the rest of pic 2 i.e the Income effect

 

[fruityflash]

BL0 is your initial budget constraint of your meal. when the price of meal increases, your budget constraint shrinks, that is the amount of your meal purchasable by your income with the new price is now lower, hence the budget line shifts to the left to BL1.
Your initial indifference curves/utility is U2 and the new one is U1. (u will learn more about it when yr lesson starts)
In order to show u the substitution effect, the hypothetical budget line HH is draw against the old indifference curve(this is known as the Hicksian sub. effect)
point C is the original bundle of goods that give u the optimal utility of U2. Hence your sub.effect is C to D which is negative(moving left)
picture 2 might hav an error. The question in picture 2 might not be referring to that pic. Because the budget lines drawn are incorrect as a change in income will result in a total shift of budget lines instead of pivoting. So just ignore that qns, but follow the rest of pic 2 i.e the Income effect

Wa, you from jc?

 

[walsly]

Wa, you from jc?

no.. im a 3rd yr student in UOL E&F just coming in , taking a look

 

[iceducky]

Been busy, sorry.

Alright here's a list of those going for August 7 0830HRS preparatory classes:

1) chiwawa23
2) dropkickme
3) domodomo
4) Deadpool.
*add on to the list*

Let's meet at the benches where we had our enrolment talk at around 0815HRS.

Iceducky....

 

[Deadpool.]

Been busy, sorry.

Alright here's a list of those going for August 7 0830HRS preparatory classes:

1) chiwawa23
2) dropkickme
3) domodomo
4) Deadpool.
5) Iceducky
*add on to the list*

Let's meet at the benches where we had our enrolment talk at around 0815HRS.

I'm only going for the 12pm Econs class, not the morning maths one. Are you guys meeting up?

 

[twisti]

anyone printing the economics exercise for the preparatory class tmr? the economics seem hard

 

[EXSXOXX]

Anyone going for tomorrow Econ 1530-1830?

 

[Deadpool.]

anyone printing the economics exercise for the preparatory class tmr? the economics seem hard

I printed out just in case.

 

[ff8squall]

Anyone going for tomorrow Econ 1530-1830? ]

me