Syllabus for ECO 1104 Cristina Blanco-Perez

You plan to pour concrete on Monday morning, but you heard a weather forecast that rain is expected. The probabilities of rain are 0.8 on Monday, 0.6 on Tuesday, 0.3 on Wednesday, and 0.1 on Thursday, Friday, Saturday, Sunday, and the following Monday and Tuesday. If it rains on the day that concrete is poured, there will be an immediate $10,000 damage cost and a delay of five days in the construction schedule. For every day of delay, $4000 is lost.
Determine on which day the concrete should be poured. What is the associated expected cost?

''Banks do not really create money , do they? was the challenge that a retired professor of economis was known to have used in his upper division american economic historic course to ascertain what his students remembered fron introductory macroeconomics about the creation of money. He reported that few students were confident enough or remenbered enough to reply correctly to his question . How would you reply?

 Which of the following BEST describes macroeconomics?
A) It analyzes the aggregate effects on the national economy of the choices made by individuals, firms, and governments.
B) It studies the choices that individuals and businesses make when coping with scarcity.
C) It examines how the choices that individuals affect governments.
D) It is not a social science because its predictions cannot be tested.
E) Proving causation is never a problem for macroeconomics.