Economics 1 Winter 1999

Economic Principles in the News Here you will find stories from the newspapers related to each of our experiments. These stories illustrate the way the theories we study apply to the real world and they show that the principles you learn in this class will make news about the economic world much easier to understand and more fun to read about.
EconWeb Samples and Subscription Information EconWeb is an introductory economics tutorial program which has good discussions of most of the material covered in this course. It also has some sample multiple choice quizzes and several discussions of applications of simple economics appearing in the newspapers. To make full use of EconWeb, you have to subscribe. The price is just $4.95 for 6 months to the Micro part of the course.. (If you pay $9.95, you can get their premium service, which includes responses to e-mail questions.)
The Iowa Electronic Market. A political "stock market" in which people can "bet" on outcomes in political elections.
Paul Krugman's Home Page Most economic journalists don't know much economics and most economists can't write worth a damn. Paul Krugman is a very competent professional economist who also writes about economics for the popular press. His home page has links to many of his popular articles. Take a look. See if you don't find some of them entertaining and instructive.
Information Rules! If you want to know more about the issues raised in our experiment on Network Externalities, this is the place to look. This book, by Hal Varian and Carl Shapiro is the best source that we know of on the economics of information technology.
Calvin and Hobbes Just in case you need a short study break.

Miscellaneous News Items

A Boom in the Popularity of Economics Courses

Economic Prospects of Economics Majors

Data from Experiments and Solutions to Past Experiments Here is where you will find the data from your section after each experiment is completed. Each week, shortly after your section turns in its homework, we will also post "solutions" which present the theoretical predictions and compare them to the actual results for each section. Click here for Experimental Data and Solutions

Summary of Price Results Here we present summary data across all sections on the average prices in each round and section.

Summary from Experiment 1
Summary from Experiment 2

Answers to Quizzes and Final

Answers to Quiz 1

Discussion of Answers to Quiz 1

Answers to Quiz 2

Discussion of Answers to Quiz 2

Answers to Quiz 3

Discussion of Answers to Quiz 3

Answers to Quiz 4

Discussion of Answers to Quiz 4

Answers to Quiz 5

Answers to Quiz 6

Answer Key for Final Exam

Scores on Quizzes and Market Earnings Quiz Scores by ID Number for Quizzes 1-3
Distribution of Quiz Scores on Quizzes 1-3
Your answers to Quiz 3
Your Market Earnings in Experiments 1-3 and 5
Your answers to Quiz 4
Scores on Quizzes 1-4
Your answers to Quiz 6
Raw Scores on Quizzes 5-6
Percentage Score on Quiz 1
Percentage Scores on Quizzes 2-6 and Total "Best 5" Score
ID Numbers of Students who missed bonus points (all quizzes)
Percentile Distribution of Total Scores for Quizzes

Practice, Practice, Practice..

Practice Questions For Quizzes 1 and 2
Practice for Quiz 3

Watch Here for New Announcements

T. A. Review Sessions

Friday, March 19, 3-5 pm, 1105 North Hall, J. Park
Saturday, March 20, 9:30-11:30 am, 1105 North Hall, P. Silva
Sunday, March 21, 1-3 pm, 1105 North Hall, B. Ashenmiller

A World Premier!

This experiment addresses questions like the following:

How did Microsoft get its dominant share of the computer software market?
Why does Netscape give its product away?
Why is it that picture phones never caught on?
Why is it that the fax machine (which was essentially invented in the 19th century)

Market Earnings are now Posted You can check out your earnings from Experiments 1-3 and 5 by clicking here. Results from later experiments will appear soon.
Your score for each session is calculated by comparing your earnings with the highest earnings made by a person in your section with the same type of personal information sheet that you had. A maximum of 10 points is awarded for each experiment. The top total score is 30, the median total score is about 21.

Adobe Acrobat Reader

Get the Adobe Acrobat Reader (for viewing PDF files)