Economics Data and Math 1

 Playing with variables and numbers  Index  Absolute vs relative  Index = number  No units  No units = unit A / unit A  Constructing an index  Base value  Current value  Index = current value / base value  Complex indeces  Weighted averages 2

 Data and Visuals  Cross-section data  Bar graph  Time series  Time plot  Relationship / association  Scatter diagram 3

 Relationship / association  Function  Verbal (words)  Schedule (table)  Equation (variables + Math)  Visuals (graph)  Dependent/independent variables  In function  In theory  Functional form  Linear  Non-linear 4

 Slope of a function  Linear  Non-linear  Slope of a function = (another) function  Function with an extremum  Maximum  Minimum  Important classes  Mathematical function  Statistical function 5

 Prominent examples  Production function  Slope = marginal product  Cost function  Slope = marginal cost  Average cost  Minimum AC  Profit function  Consumption function  Math/model  Statistics 6