1. Contact My email is trkaplan@ex.ac.uktrkaplan@ex.ac.uk The course web address is www.ex.ac.uk/~trkaplan/micro.html

2. Guessing game Guess a number 0 to 100. The guess closest to 2/3 the average number wins a prize. Ties will be broken randomly. Please write your name and your guess on the piece of paper and turn it in to me. Don’t let others see your guess!

3. Graph of guesses (two years ago) Average was 36.7 (winning guess 24.5) Six guesses were above 66.66

4. Guessing game Guess a number 0 to 100. The guess closest to 2/3 the average number wins a prize. Your average was … Wharton average 40 Caltech UG average was 30 (10% at 0) Economics Phds 25 CEO average also 40. What would we expect if everyone is rational and thinks everyone else is rational? Now repeat this!

5. Graph of 2 nd round guesses Average was 12.4 (winning guess 8.3) One guess was above 66.66

6. Good News/Bad News Good News: Don’t need much Calculus. Bad News: You need to know Algebra. Good News: You can increase your grade by doing the homework. Bad News: If you don’t do the homework, it may cause you to fail the class!

7. Good News/Bad News Good News: Intro last year didn’t require much math and most students passed. Bad News:This year will be more difficult!! Bad News:Test will be very quantitative. Good News: You can get very high marks.

8. FAQs Q: I showed up to all lectures and tutorials yet did poorly on the exam. Why? A: You should not only review after every lecture, but practice problems. Q: I don’t remember any Algebra. Am I doomed to get a 3 rd or even fail? A: No, in tutorials we will be spending the first two weeks reviewing Algebra and with study you can do it!! There is also a range of websites to help such as www.algebrahelp.com, www.algebra.com, www.sosmath.com. (Let me know if you find others that are worthwhile.) It just takes practice! www.algebrahelp.comwww.algebra.com www.sosmath.com

9. FAQs Q: I didn’t see this homework question before. How am I going to solve it? A: You should learn how to solve problems that you haven’t seen before. Sort of like riddles/brain teasers. Even if you can’t solve it alone, if you bang your head against the wall, you will remember when you finally see the answer.

10. Tutorials: Format We will assign sessions. Announced on Thursday lecture. Let me know now if there is potential conflicts such as sports. Two types: Experimental and Problem Solving. Experimental: We will meet in the FEELE lab (sometimes XFI lab) and participate in computerized games. Objective: To learn economics through participation. To be inspired to study the economic forces behind the experiment. To first hand see when theory works and when it doesn’t.

11. Tutorials: Problem Solving Objective: Students learn by problem solving and develop presentation skills. Method 1: Break into groups each week a different group presents solutions to problem sets. Result: Only those in the group prepared. Many members of a group were absent the day of presentation. Method 2: Pick students at random to give it a try. Result: Since odds were low, some students just hoped for the best. Students did not seem to like this, even though all seemed to get through it. Sometimes painful for everyone involved. Method 3: Just ask for volunteers. Result: Tutor just solved all the problems on the board. Please e-mail me any suggestions! We will choose the format on Thursday.