The mid-semester assessment will be a short-release assignment for 60 minutes (+15
minutes upload time) starting at 6pm (AEST) on Monday, 3 April. The short_x005f release assessment will be open book. You will need to upload your answers via
the Canvas assignment by 7:15pm (AEST). Because it is a short-release assignment,
no late submissions will be accepted.
Material Covered and Expectations:
1. The mid-semester assessment will cover material from Weeks 1-5, corresponding to Romer,
Chs. 1-5. Anything covered in class, in the corresponding tutorials, or on the first problem
set is examinable.
2. You will be provided with relevant formulas such as production functions to be used in
answering a question (see questions below for examples of what sort of material will be
provided and what you might be assumed to know).
3. You will be expected to understand and interpret the “economics” behind any equations
provided.
4. In answering algebraic/numerical questions, be precise, showing all of the steps, and indicate
if you are making any assumptions along th
e way.
5. Answers must be in your own words. Use quotations when referencing textbook, lecture, or
tutorial material.
6. You must complete the assessment on your own. Do not collaborate in any way.
7. Questions will be personalized based on your student ID. Specifically, you will be asked to
write out your student ID number, which will be cross-checked with your submission and used
to provide parameter values or assumptions when solving certain questions. Thus, answers will
be different for different student numbers. For example, suppose your SID is 123456789 and
you are asked for the second-last digit, it would be 8 and you would assume the parameters in
the table corresponding to the second-last digit being 8. An example table, which the entries
for 8 boxed out, is provided for Q1 below.
8. You will be given 15 minutes after the 1 hour exam to scan/convert your answers to a pdf and
upload under the upload assignment link for the midsemester assessment assignment link.
Practice Questions:
1. In the Solow-Swan model, steady-state consumption is c
= f(k