Additional office hours will include: Tuesday 10:30-12:30, Wednesday 12:30-2:00 pm.

I was asked on Tuesday to clarify whether or not the "kinked demand curve" model will be on the final. At least a portion of the class has heard that it is NOT to be on the exam (since Andres did not have time to cover the topic completely in his lecture). Therefore, it will be excluded from the exam (for fairness).

Here are some thoughts as you prepare for the final:

1. The final exam will be cumulative to the extent that you would be unable to understand many of the models since the midterm without understanding the stuff that went on prior to the midterm.
2. I generally plan on a two-hour final, and hope that everybody is done writing after about 2.5 hours. Usually, only about 20% of the class is left in the room when the three-hour exam period concludes. These people may simply be hoping for some last-minute divine inspiration. Few of them are still writing.
3. Since you have already been examined for 1 hr and 15 minutes on stuff prior to the midterm, I structure the final to have 1 hr and 15 minutes of stuff exclusively since the midterm, and devote the remaining 45 minutes of the planned time to "pot luck" across both halves of the course. This means about 22.5 minutes on stuff exclusively from the first half of the course and the rest of the 2 hours on stuff since the midterm, so plan accordingly in distributing your study time.
4. I have dredged through my ancient files and uncovered a couple of handwritten solution sets to old finals. I will attempt to scan these over the next day or two and post them under "old exams" on the menu to the Econ 1 homepage.
5. Since the midterm, we have covered material beginning with Chapter 13 (monopoly).
6. You are responsible for the following:
   • Most of Chapter 13
   • Most of Chapter 14, but less emphasis on the details in pl 285-289; we did not cover the Dominant Firm Oligopoly Model; we did not do pages 297-304 in any detail at all.
   • Chapter 15: we concentrated on Labor Markets and Capital Markets, but dispensed with pages 331-333. You are responsible for the concept of Economic Rent, however.
   • Chapter 16: we did Skill Differentials and Union stuff in conjunction with Monopsony; we briefly looked at Wage Differentials between Sexes and Races; we did not cover Comparable Worth or Immigration.
   • Chapter 18: we briefly covered Public Goods (mostly pp. 390-395)
   • Chapter 20: (Externalities and the Environment) we focussed on the material on pages 430-435.
   • Chapter 17: Income Distribution: we will be focussing on Lorenz curves (p. 364-366) and on Income Redistribution (pp. 370-372), with some discussion of the material on pages 368-369.
7. For the material on the Edgeworth Box, and the competing goals of equity and efficiency, see supplementary material available at: http://www.sscnet.ucla.edu/ssc/labs/cameron/e1f98/e1jv_.htm (See Java Applet #3)

NEWSFLASH! Subject to minor revisions in my research budget, the National Science Foundation has informed me that they intend to fund my research proposal to study uncertainty, risk perception, and willingness to pay for climate change mitigation programs. So your participation in the survey exercise has not been in vain. The project will now be "for real," and the Trial Surveys represent vital preliminary work on data-gathering strategies and analytical planning. (Thanks!)