Sample Mid-Term Exam

Blessed be all metrical rules that forbid automatic responses, force us to have second thoughts, free from the fetters of Self. W. H. Auden

Write legibly with a space between each line on one side of page only. Use pen if available. You may keep this question sheet and an answer sheet will be available upon exit.

Answer all three questions.

1. For each of the sources of interdependence, fill in the attached table indicating the kinds of institutional policy variables (structure) that are relevant for each. Number the structural variables and use the same number for the associated performance variable where relevant following the model given for IUG. The variables can be described generally and without complete sentences Specific alternative structural variables and specific performance expected of each need not be detailed. Answer only one of the last three situational categories. (40 minutes)

2. Explain how you can apply one behavioral concept (how the brain works) to an economic problem. (10 minutes)

3. Analyze the case described in the sewer rate newspaper article. (10 minutes)

Total exam time: 60 minutes.

4. Optional: (could replace one of the items in question # 1.)

Write a testable hypothesis for one of the sources of interdependence (situation). Use the following format:

With a situation of high information cost, buyers in a consumer co-op (structure # 1) use more voice and more communication of preferences to managers (performance) than isolated buyers in a market with investor owned firms (structure # 2).

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If you have any questions or comments, please email schmid@pilot.msu.edu

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