Department of Economics
University or Minnesota
Spring 2021 (Remote)
Problem Set 1
Due: Wednesday, February 8th
This problem set is due on Monday, February 8th at 11:59pm (Central Time). The
maximum score is 110 points. Be sure to review the Syllabus for details about homework assignments
and their grading. Feel free to contact me or your TA if you have specific questions about the
Note you only have to submit questions 1 to 4. Some exercises have several parts, and each
part may conceal more than one task. Be sure to answer these questions thoroughly for full credit.
Further material intended for practice is provided at the final pages.
Present all final answers neatly on the space provided, or provide an organized document (you
do not need write/type the questions, however do not forget to label your answers). Show any
relevant calculations neatly. Please remember to attribute credit to your colleagues due to any help
received and collaboration.
Names (and section numbers) of classmates you worked with:
University of Minnesota ECON 3101 – PS1
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