Extra Credit Opportunities for SPRING 2015 – Due on or Before Monday June 1st
Watch up to two approximately 50 minute documentaries from PBS FRONTLINE OR FROM FRONTLINE WORLD (they are usually shorter – thus you would watch 2 or more – to make up to 50 minutes)
TYPE A 1 PAGE SINGLE SPACED REVIEW/CRITIQUE OF EACH DOCUMENTARY.
Each documentary you watch and write a 1 page single spaced review is worth 5 points for a total of 10 points.
I want to know what impressed you, what you didn’t like and what new things you learned.
You may only earn a total of 10 points (that would require you to watch 2 fifty minute documentaries and write 2 reviews)
The documentaries must be about 50 minutes long
.
Go to Frontline on PBS http://www.pbs.org/wgbh/pages/frontline/
There are great documentaries about the Taliban, Pakistan, Egypt, Syria, North Korea, Iran and much more. Any Frontline that is about a location in the world (NOT USA) can be viewed for extra credit.
Most Frontline programs are about 50 minutes, but some of the older ones are not very long, so plan on watching more than one to total about 50 minutes viewing time.
Please cite your documentary using the URL’s so I can access it and see which one you watched.
http://www.pbs.org/frontlineworld/ (this site has some good slightly older videos that you could choose from also, they are often much shorter than 50 minutes so be sure and watch several to total 50 minutes of viewing time and then write up a 1 page single spaced review of all the videos combined)
OPTION 2
Any on campus lecture pre-approved by the instructor – Attend and write up a 1 page single spaced review. (5 points per lecture/review)
you are given a data set of cost function data. The data is based on 145 U.S. Electricity Producers in 1955. The source of the original data is:
Nerlove, M. (1963) Returns to Scale in Electricity Supply. In C. Christ (ed.), Measurement in Economics: Studies in Mathematical Economics and Econometrics in Memory of Yehuda Grunfeld. Stanford University Press.
This is a classic work in cost analysis, and has been used in many managerial economics courses, starting with Harvard Business School. The original data have been revised and updated by Christensen, L. R., and Greene, W. H. The attached dataset is based on the revised data.
DATASET
Variables
TC = total cost (in 1970 Million USD)
Q = total output (Billion KwH)
PL = price of labor (wages)
PF = price of fuel
PK = price of capital
Observations
TC
Q
PL
PF
PK
0.082
2
2.1
17.9
183
0.661
3
2.1
35.1
174
0.99
4
2.1
35.1
171
0.315
4
1.8
32.2
166
0.197
5
2.1
28.6
233
0.098
9
2.1
28.6
195
0.949
11
2
35.5
206
0.675
13
2.1
35.1
150
0.525
13
2.2
29.1
155
0.501
22
1.7
15
188
1.194
25
2.1
17.9
170
0.67
25
1.7
39.7
167
0.349
35
1.8
22.6
213
0.423
39
2.3
23.6
164
0.501
43
1.8
42.8
170
0.55
63
1.8
10.3
161
0.795
68
2
35.5
210
0.664
81
2.3
28.5
158
0.705
84
2.2
29.1
156
0.903
73
1.8
42.8
176
1.504
99
2.2
36.2
170
1.615
101
1.7
33.4
192
1.127
119
1.9
...
Extra Credit Opportunities for SPRING 2015 – Due on or Before Mond.docx
1. Extra Credit Opportunities for SPRING 2015 – Due on or
Before Monday June 1st
Watch up to two approximately 50 minute documentaries from
PBS FRONTLINE OR FROM FRONTLINE WORLD (they are
usually shorter – thus you would watch 2 or more – to make up
to 50 minutes)
TYPE A 1 PAGE SINGLE SPACED REVIEW/CRITIQUE OF
EACH DOCUMENTARY.
Each documentary you watch and write a 1 page single spaced
review is worth 5 points for a total of 10 points.
I want to know what impressed you, what you didn’t like and
what new things you learned.
You may only earn a total of 10 points (that would require you
to watch 2 fifty minute documentaries and write 2 reviews)
The documentaries must be about 50 minutes long
.
Go to Frontline on PBS
http://www.pbs.org/wgbh/pages/frontline/
There are great documentaries about the Taliban, Pakistan,
Egypt, Syria, North Korea, Iran and much more. Any Frontline
that is about a location in the world (NOT USA) can be viewed
for extra credit.
Most Frontline programs are about 50 minutes, but some of the
older ones are not very long, so plan on watching more than one
to total about 50 minutes viewing time.
Please cite your documentary using the URL’s so I can access it
and see which one you watched.
2. http://www.pbs.org/frontlineworld/ (this site has some good
slightly older videos that you could choose from also, they are
often much shorter than 50 minutes so be sure and watch several
to total 50 minutes of viewing time and then write up a 1 page
single spaced review of all the videos combined)
OPTION 2
Any on campus lecture pre-approved by the instructor – Attend
and write up a 1 page single spaced review. (5 points per
lecture/review)
you are given a data set of cost function data. The data is based
on 145 U.S. Electricity Producers in 1955. The source of the
original data is:
Nerlove, M. (1963) Returns to Scale in Electricity Supply. In C.
Christ (ed.), Measurement in Economics: Studies in
Mathematical Economics and Econometrics in Memory of
Yehuda Grunfeld. Stanford University Press.
This is a classic work in cost analysis, and has been used in
many managerial economics courses, starting with Harvard
Business School. The original data have been revised and
updated by Christensen, L. R., and Greene, W. H. The attached
dataset is based on the revised data.
DATASET
Variables
TC = total cost (in 1970 Million USD)
Q = total output (Billion KwH)
PL = price of labor (wages)
PF = price of fuel
PK = price of capital
Observations
TC
23. 14359
2.3
33.5
212
119.939
16719
2.3
23.6
162
Cut the data set and paste it into Excel. Then, in Excel, obtain
the logarithmic transformation of all the variables using the
Excel function: =LOG( . ), i.e.,
logTC = log(total cost)
logQ = log(total output)
logPL = log(price of labor)
logPF = log(price of fuel)
logPK = log(price of capital)
Run the following regression using the Excel add-in Data
Analysis:
logTC=
whereis an error term, and the variables and their logarithmic
transformations are defined above.
Read the Background material, run the multiple regression
outlined above and then write a 3- to 4-page report (and attach
the Excel printout) answering the following questions:
· What is the R-square of the regression? What does it mean?
· What is the elasticity of TC with respect to Q? Test the
significance of
· What is the elasticity of TC with respect to PL? Test the
significance of
· What is the elasticity of TC with respect to PF? Test the
significance of
· What is the elasticity of TC with respect to PK? Test the
significance of
· Can you forecast (predict) what happens to TC if PL doubles
(keeping everything else constant)?
24. · Looking at the ANOVA table, can you conclude the
independent variables jointly affect the average housing price?
See the ANOVA note in Module 2 SLP.
· Do you find any anomaly in the results? That is, is there any
result that does not make sense to you?
· How would inclusion of modern generation mix (Coal,
Nuclear, Natural Gas) change the specification of the demand
for electricity?
