Econ-UA 10

NYU DepartmentEcon

Econ-UA 10 – Recitation Website
Fall 2013, Tuesday 3:30-4:45 pm, Room GCASL 369
Fall 2013, Tuesday 4:55-6:10 pm, Room WAVE 369TA: Sai Ma
Office hours: TBA
Email Address:

Feel Free to email me regarding short questions. Long questions are always welcomed, but appointment preferred


(Sep. 10, 2013) I will mostly use this website to post the slide I will use in the recitation. However, in order to increase your utility of participating the recitation, the solution to the questions in the slide will not be included in the files. Have a nice semester!

(Sep. 10, 2013) The recitation #1 slide posted, including the solutions to the questions covered along with another interesting question (Question 4 in the slide) which I didn’t have time to cover, the solution to that question is also included in the slide.

(Sep. 11, 2013) Friendly reminder that the first problem set is up, please look at them in the blackboard assignment section. It is due in recitation on September 24, 2013

(Sep. 17, 2013) As voted in the recitation, I will hold my office hour for problem set #1 from 2pm – 4pm on Friday, September 20, in my office 819. If you can’t find me at 819, you will find me in the lobby of 8th floor in the department.

(Sep. 17, 2013) The slide for the second recitation is also posted, please see the comment below the link. Please don’t feel frustrated if you can’t understand some of the definitions in the first two slides, remember, they are only for background. You are ONLY responsible for the concepts learned from the lecture. As suggested by some of the students, I will cover more examples and exercises from next recitations on and focus less than the concepts which are merely used for the background. Thank you so much for those of you provide feedback, and as always, please feel free to email me if you have any suggestions or feedback for the recitations, thank you!

(Oct.1,2013) The note for Recitation #4 is now posted which includes the question I covered in the recitation. I do apologize for the rush end for the 3:30-4:45 session, for compensation, I uploaded the complete solution to the last question

(Oct.1,2013)I will hold my office hour for problem set #2 from 2pm – 4pm on Friday, 0ct. 4, in my office 819. In addition, the PS1 grade is now available in NYU class. If you would like to pick up your graded PS1, please let me know

(Oct.16,2013) Just a reminder that I will hold office hour for PS3 and Midterm 2pm-5pm on Friday, Oct 18 and 1pm-3pm on Tuesday, Oct 22, in my office 819. In addition, the PS2 grade is now available in NYU class, I will return them in next Tuesday’s recitation

(Nov. 5, 2013) The questions discussed in today’s recitation is posted, along with the solution to the Q2 since it is a proof/argument based Game Theory question and hope you can review and compare the solutions in recitations (using examples) and the posted one (more general). Hope this helps

(Nov.12,2013) I will hold office hour for PS#4 from 12pm-2pm on Friday, Nov 15, in my office 819.

(Dec.06,2013) The final office hour is from 1:30pm to 3pm on Tuesday, Dec 10 , in my offcie 819

Q&A for final exams:

Question: What’s the difference between expected utility and utility of expected wealth and what’s the relation between them if agent is risk averse?
Answer: EU vs. UE

Question: For Q1 in practise final, second T/F, We were thinking that, from first-year econ, if price elasticity of demand is greater than 1, then it is elastic and increasing price would not increase revenue?
Answer: Price Elasticity

Recitation materials:

Recitation Slides/Notes

Recitation#1, September 10, 2013

In the first recitation, I went over questions 1-3 along with convexity of the preference. Feel free to look at the solutions and definitions for the questions covered. The proof of the theorem is not required.

Recitation #2, September 17, 2013

In the Second recitation, I briefly went over the concept of monotonicity, non-satiation and Walras’s law. As I said in the class, these definitions are just for background, not required for this course, the examples in each definition are used to help understand the concept, please remember the properties of some important utility functions (e.g Cobb-Douglas, Perfect complement). The solutions to the Partial derivative practices are also included.

Recitation #3, September 24, 2013

Discussion of PS #1 — Solution in NYU Class

Recitation #4, October 1, 2013

Solution to the last question is also included

Recitation #5, October 8, 2013

In addition to going through the solution to PS#2, I also went over a question which helps you prepare the midterm, the question and complete solution are included in the notes

Recitation #6, October 22, 2013

Review Session for Midterm — Materials in NYU Class

Recitation #7, November 5, 2013

In addition to go through the above questions, I also “played” a Nim game and 21-game, you can basically wiki them if you are still interested. The solution to Question #2 is also posted.

Recitation #8, November 12, 2013

Q1 is related to Game Theory and Q2-Q4 are associated risk-aversion and uncertainty

Recitation #9, November 19, 2013

Discussion of PS #4 — Materials in NYU Class

Recitation #10, December 3, 2013

Also include my final remark on tips of solving monopoly questions