Published on April 5, 2014
Economics 101 John Par kin Graphs ,variables and slope
Graphs in economics • Firstly all of us we know about Graphs that include a vertical access and horizontal axis, vertical axis we will call “Y” axis and horizontal axis “ X”. • And you can called them what you want as your prefer . • Commone Graphs that used are : • Time- series Graph , cross-section Graph • And scatter Graph.
Time Series Graph 0 200 400 600 800 1000 1200 1400 1600 Column1 Series 2 Series 1
Cross- Section Graph 0 1 2 3 4 5 6 cars housing firms corporations norton blackberry adidas
Scatter Graph 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 0 0.5 1 1.5 2 2.5 3 3.5 blackberry blackberry
Graphs in economics • We use Graph to EXPLAIN economics models in more simplified manner . • And to show the direction of the economy in general . • Now I want notice you that models of economics that we use included a variables, these variables take different directions .
Types of variables • There is variables have the same directions . • Variables with opposite direction . • Variables with max or min value . • Variables are unrelated. • Let us look at these cases :
Same directions variables • In such type , the Graph shows that the tow variables goes up and down together in same direction and that is called “ positive relationship “or” direct relationship” .
Same directions variables 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Category 1 Category 2 Category 3 Category 4 Series 3 Series 2 Series 1
Opposite direction Graph 0 20000 40000 60000 80000 100000 120000 140000 1 2 3 4 Series 1 Series 1
Unrelated variables Graph 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 12345
Slope of model • We can find slope by tow ways : 1_ by the Graph , taking change in the “Y” axis an dividing it by change in “x” axis . 2_ drive it from the model by taking the first derivative of it .
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