Show:
Who's Who in Texas Economics
"The Best Part of Any Class"
Time Will Tell
Thinking on the Margin
So You Think You're an Economist?
100
The professor who primarily teaches econometrics and is the department chair.
Who is Jason Abrevaya?
100
The solution to a game where, given every other player's action, no player wants to deviate (by picking a different action).
What is a Nash Equilibrium?
100
The economist who wrote "Wealth of Nations" and is referred to as the "Father of Modern Economics."
Who is Adam Smith?
100
The price you pay for producing one additional unit of output.
What is Marginal Cost?
100
The three positive numbers that give the same result when multiplied and when added together.
What are 1, 2, and 3?
200
The advisor who is the head of the Econ Peer Mentor Program.
Who is Jinane Sounny-Slitine?
200
The surplus (producer and/or consumer) lost due to a monopolist.
What is Deadweight Loss?
200
The controversial German economist best known for his "Communist Manifesto."
Who is Karl Marx?
200
The term defining the increase in output for one additional unit of labor.
What is Marginal Product of Labor?
200
There is a chain nailed to the wall. The chain is 10 feet long and the center of the chain dips down 5 feet from where each side of the chain is nailed to the wall. How far are the 2 ends of the chain from each other?
Both ends are nailed with the same nail. In order for the 10 foot chain to dip down 5 feet, it must dip 5 feet down and 5 feet up, totaling the length of the chain.
300
The professor who oversees the Economics Departmental Honors program and ODE.
Who is Gerald Oettinger?
300
The type of product whose value to a consumer increases with the number of other consumers using it.
What is a Network Good?
300
The 1981 Nobel Laureate from the United States who now has his own "q."
Who is James Tobin?
300
The additional output resulting from one additional unit of physical capital.
What is Marginal Product of Capital?
300
Two fathers and two sons go fishing together. They each catch a fish to take home with them. They do not lose any fish, and yet when they arrive home, they only have three fish. How can this be?
There are just three people: a grandfather, his son, and his grandson.
400
The professor who hails from Sydney, Australia, but whose Ph.D. is from the University of British Columbia in Canada.
Who is Stephen Donald?
400
An economy that does not partake in trade.
What is an Autarky?
400
The French philosopher and mathematician famous for his quantity-setting oligopoly game.
Who is Antoine Augustin Cournot?
400
The effect on the dependent variable that results from changing an independent variable by a small amount.
What is the Marginal Effect?
400
A man pushes his car and stops in front of a hotel and immediately goes bankrupt. What is he doing?
Playing monopoly.
500
The Associate or Full Professor with the most number of google scholar citations.
Who is Dale Stalh? 5,859 citations #1 Paper: "The Economics of Electric Commerce" (1,217) (1997) 2) Stephen Donald (4,238) 3) Stephen Trejo (3,029)
500
The additional amount of income that a given worker must be offered in order to motivate them to accept a given undesirable job, relative to other jobs that worker could perform.
What is a Compensating Wage Differential?
500
The first Nobel Laureate in Economics. He and his colleague, Ragnar Frisch, won "for having developed and applied dynamic models for the analysis of economic processes." i.e. Econometrics
Who is Jan Tinbergen?
500
The benefit derived from the last unit of a good minus its cost.
What is Marginal Net Benefit?
500
You have two coconuts and you want to find out how high they can be dropped from a 100 story building before they break. But you only have $1.40 and the elevator costs a dime each time you ride it up (it's free for rides down). How can you drop the coconuts to guarantee you will find the lowest floor they will break at, while starting and ending at floor 1?
You could drop it at floor 1 first (because you start at floor 1). Then you would go to the floors: 14, 27, 39, 50, 60, 69, 77, 84, 90, 95, 99, and 100. Whatever floor your first coconut breaks at, go to the floor above the last floor the coconut survived and drop the second coconut from this floor. Then go up by one floor until the second coconut breaks and that is the lowest floor it will break at.