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    ECON 7302 Assignment 1

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    Mohamed Ahmed ali
    This document outlines an assignment for an economics microeconomics course being conducted remotely due to COVID-19. The assignment involves creating two short videos. The first video (V1) asks students to use the concept of transitivity in preference relations to explain why indifference curves cannot cross. The second video (V2) asks students to solve a utility maximization problem involving computing Marshallian demand functions and deriving an indirect utility function. Students are expected to upload the videos to the class Google Drive by November 9th for a total of 8% of their grade. The grading rubric assesses students on correctly defining and applying concepts as well as the creativity and clarity of their video explanations.

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    ECON 7302 Assignment 1

    Uploaded by

    Mohamed Ahmed ali
    17 views2 pages
    This document outlines an assignment for an economics microeconomics course being conducted remotely due to COVID-19. The assignment involves creating two short videos. The first video (V1) asks students to use the concept of transitivity in preference relations to explain why indifference curves cannot cross. The second video (V2) asks students to solve a utility maximization problem involving computing Marshallian demand functions and deriving an indirect utility function. Students are expected to upload the videos to the class Google Drive by November 9th for a total of 8% of their grade. The grading rubric assesses students on correctly defining and applying concepts as well as the creativity and clarity of their video explanations.

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    This document outlines an assignment for an economics microeconomics course being conducted remotely due to COVID-19. The assignment involves creating two short videos. The first video (V1) asks students to use the concept of transitivity in preference relations to explain why indifference curves cannot cross. The second video (V2) asks students to solve a utility maximization problem involving computing Marshallian demand functions and deriving an indirect utility function. Students are expected to upload the videos to the class Google Drive by November 9th for a total of 8% of their grade. The grading rubric assesses students on correctly defining and applying concepts as well as the creativity and clarity of their video explanations.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    17 views2 pages

    ECON 7302 Assignment 1

    Uploaded by

    Mohamed Ahmed ali
    This document outlines an assignment for an economics microeconomics course being conducted remotely due to COVID-19. The assignment involves creating two short videos. The first video (V1) asks students to use the concept of transitivity in preference relations to explain why indifference curves cannot cross. The second video (V2) asks students to solve a utility maximization problem involving computing Marshallian demand functions and deriving an indirect utility function. Students are expected to upload the videos to the class Google Drive by November 9th for a total of 8% of their grade. The grading rubric assesses students on correctly defining and applying concepts as well as the creativity and clarity of their video explanations.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    SEM 1, 2020/2021 ECON 7302 Microeconomics 2 November 2020

    ASSIGNMENT NO. 1
    1. Introduction

    IIUM has engaged the remote teaching and learning (RTL) mode in Semester 1, 2020/2021 due to COVID-
    19 outbreak. Therefore, we shall expand our class assessment methods beyond the conventional pen and
    paper tests.

    For assignment number one, you are expected to produce two short videos as follows:

    Video Number 1 (V1):


    Use the concept of transitivity in preference relations to justify why two indifference curves derived from
    one agent cannot cross.

    Video Number 2 (V2):


    Consider the utility function:
    𝑢(𝑥1 , 𝑥2 ) = 𝐴𝑥1𝛼 𝑥21−𝛼
    where 0 < 𝛼 < 1, and 𝐴 > 0.
    (a) Compute the Marshallian demand functions.
    (b) Derive the indirect utility function.

    After the assignment, you should be able to achieve the following outcomes:
    1. To be able to relate the transitivity assumption in preference relations to utility function
    2. To be able to solve a utility maximization problem with two goods.

    2. Content

    The expected length for V1 is 3-5 minutes, while V2 must be less than 10 minutes. You are free to use any
    available materials, equipment and software to assist you to produce the videos.

    You will have to upload the videos in our Google Classroom drive. If you have your own YouTube channel,
    you may upload the videos in your YouTube channel and provide the link in our Google Classroom.

    The submission deadline is 6:00 pm on Monday, 9 November 2020.

    3. Evaluation
    Assignment no. 1 carries 8% of your overall grade.

    1
    SEM 1, 2020/2021 ECON 7302 Microeconomics 2 November 2020

    4. Grading Rubric

    No. Item Amount


    1. V1: Correct definition on transitivity concept 1%
    2. V1: Able to justify why indifference curves cannot intersect using transitivity 2%
    assumption
    3. V1: Creativity in making the explanation video attractive 1%
    4. V2: Correct method for utility maximization 1%
    5. V2: Clear explanations for every step used in solving the question 2%
    6. V2: Creativity in making the tutorial video attractive 1%
    TOTAL 8%

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