Question 1: Urban Housing (20 points)
Housing policy: Housing subsidies vs. Cash offer
A low income household has a monthly income of 900, and is qualified to receive certain welfare from government in housing.
This household has the following utility function and faces the following market information:
U = X.Y where X is the housing consumption (sq.) while Y represents all other goods; Price of X (housing per square foot) is $0.5, and price of Y (all other goods) is normalized to be $0.75. Hint: MRS = Y/X
A. What will be the consumption bundle for this household when no subsides or welfare is offered? (hint: utility maximization given the budget constrain)
B. What will be the consumption bundle if this household receives a cash offer of 300 per month from government?
C. Instead of receiving cash offer, they are subsidized by a housing voucher program, which specifies their out-of-pocket cost for housing is $270 per month. To keep this household equally happy as in (B receiving cash offer),
a. What will be their consumption bundle?
b. How much is the subsidy amount from government?
c. Compare to the cash offer, which program is more cost effective from tax payer’s perspective?
Question 2: Urban Transportation (20 points)
Download the file for Cincinnati from the following link
Eastern U.S. Cities
The above file is from Urban Mobility report 2017 (its press release) published by TTI.
Based on the report and what we have discussed on issues in urban transportation
A. This reports data on congestion level in Cincinnati metropolitan areas from 1984 to 2017.
A1. Conduct a trend analysis for key congestions measures such as TTI, PTI, annual hours of delay per commuter, excess fuel consumed due to congestion.
A2. Identify possible reasons for the trend identified and provide supporting evidence.
B. If reducing congestion is desirable, what types of policy pools should be implemented to systematically change the congestion level? For each recommendation you make, discuss the advantage and limitations.
Question 3: Assuming the following: Ohio Department of Transportation and Kentucky DOT are considering converting I-471 to be a toll road and considering using the toll collected to provide additional fund to improve transit services in and out of downtown Cincinnati. You are hired as an economic analyst by a local non-profit organization representing local residents’ interest. You are required to conduct an economic analysis answering the following questions. (25 points)
1.Identify who will be affected by this potential change from a public free road to toll road? Be specific.
2. In which way those identified can be affected? Why? If and how can you get your supporting evidence?
3. What could be the marginal benefit if I-471 becomes a toll road? How about marginal cost?
4. How to determine what is the right toll rate for that 7 –mile toll road?
5. Organize your analysis and write a draft comment letter to ODOT and KDOT to address this potential change.
Question 4: (25 points)
Based on the article: on the performance of the US transportation system
1. What are the economic theories on the efficient provision of transportation in the US? Provide the logic clearly for private and public ownership.
2. Discuss the impact of the US transportation infrastructure on travel pattern and land use pattern https://nku.instructure.com/courses/6701/files/511714/download?verifier=aT9u9mejOIJCV1okEtglJZx2KxJ51IDmAjDQ65Tw&wrap=1 and Chapters 7-8
3. Given the fact that user fees are far from sufficient to cover the highway (and transit ) expenditures, discuss the possible solutions to reduce congestion.
4. Discuss the key factors that result in low ridership of public transit in general and discuss the possible solutions.
Question 5: Empirical Analysis (10 points)
Use the data provided in (Urban Economics Data 1)
1. The dataset provides variables to measure land use controls (from column Z to column AG), discuss the hypotheses of the impact of those variables on urban spatial size (column W)
2. Run a regression with urban spatial size as dependent variable and land use control variables in addition to standard monocentric urban variables (population, income, rural land rent, and transportation cost) and report the results in a table.
3. Discuss your results of each land use control variables (whether it is statistically significant, whether consistent with your hypothesis; if not , what could be possible explanations).
With reference to maybe a couple scenes of Buffy The Vampire Slayer considered in class, clarify how the arrangement urges the watcher to address presumptions about high and low culture as well as TV as a type of pop culture. You may wish to think about issues of kind, origin and sex. Vampires are generally known for their smooth back dark hair, fanged teeth and dark and red capes; be that as it may, in the network show 'Buffy the Vampire Slayer' these customs have made distinctive route for female warriors and ghoulish creatures. We each have our own distinctive contemplations about what and vampires' identity, yet the media utilize their energy on open to make a solid picture of what are vampires 'should' look like and have embraced conventions accepted for a long time. To expand seeing figure, the maker's of 'Buffy the Vampire Slayer' have made a decent blend of the frightfulness classification and the average, established American secondary school appear. This blend of various classifications is reasonable for a wide range of class or age gatherings and tastes. The principal scene is titled 'Welcome to Hellmouth' this name is an interesting expression as it utilizes words that express great and awful. The development to the scene demonstrates a youthful couple breaking into the school through a window in the science lab. This activity promotions strain as well as demonstrates a connection amongst science and the otherworldly, something that has been discussed for a long time. The lady transforms into a green terrible creature and murders that kid. This is extremely uncommon for a vampire story as customarily vampires did not look like beasts and furthermore they just assaulted vulnerable females. The scene begins appropriately when Buffy Summers, a 16 years of age young lady moves to Sunnydale, from LA with her mom. This isn't the setting that the group of onlookers would expect for a vampire story as the word 'Sunnydale' barely portrays a dull, loathsomeness put brimming with vampires. In this way, this name subverts the customary signifier's. On the primary day of school, the prevalent young lady named Cordelia drafts Buffy into the cool group, Buffy endeavors to be companions with three other students,Willow, Xander and Jesse. This signal demonstrates to us that Buffy is a decent judge of character, solid disapproved and that she is a pioneer not a devotee. Buffy goes to the school library to get some course readings. The library, despite the fact that a more bizarre setting was significantly more like something from a vampire story, it was dull and purge. To include strain the makers utilized 'startling' disconnected music to attempt and set the scene and the camera moves in onto a daily paper article, to which you can read the feature which alludes to a missing adolescent kid. This article throws a question mark over the 'typical' decent Sunnydale. At that point a figure shows up behind Buffy, it is Buffy's new watcher and the new school librarian,Giles. He carries a book with 'Vampyr' on the cover and frightens Buffy away. This supports the old customs as the book was old, and brimming with spider webs, perhaps to add more secret to this area. The spelling 'Vampyr' again features the books age and tries to influence it to look much more unusual, this additionally brings more history and custom into the scene, two components that are imperative to any gothic style story. The show appears to take an alternate bend when a dead body is found in the school evolving rooms. It is surprising that the body was found in the school and another great point to note is that the casualty was a man, which is irregular for a vampire story, as generally the casualties were all vulnerable females. Buffy to research and found the body was executed by vampires. At home, Buffy plans for her night out to the 'Bronze,' Sunnydale's just night club. Her mum feels that everything will work out in Sunnydale and that they will have the capacity to have an upbeat life there. It is exceptionally unexpected as Buffy realizes that awful things are practically around the bend and furthermore this demonstrates her mom is ignorant that she is a 'vampire slayer'. On her way to the Bronze, Buffy faculties she is being taken after and heads into a back street. A tall young fellow leaves the shadows looking for her. She swings down from a bar above him and thumps him to the ground. He guarantees not to chomp and that he simply needs to help her. This area embraces up to the point where Buffy swings down and assaults the man. He cautions her of the Harvest and enlightens her concerning the Hellmouth. This name paints a terrible picture in the gathering of people's psyches and it is the inverse to Sunnydale. Later at the Bronze, Buffy visits with Willow about young men. She tries to motivate Willow to quit pausing and to 'grab the day.' Buffy spots Giles upstairs and goes up to converse with him. He keeps on revealing to her she is the Slayer and must choose between limited options. At first the setting for this scene may appear to be absolutely radical in a vampire style story, however after idea the scene is dull and loaded with youthful potential casualties so is a cutting edge adjustment of the settings for the more seasoned stories. For instance, the more customary stories were set in a memorial park or 'spooky' house, which was dim and the time was dependably in the dead of night. These attributes can likewise be connected to the dance club utilized as a part of Buffy, as it too is dull and individuals just go to these clubs amid the hours of darkness.The demonstrate appears to take an alternate contort when a dead body is found in the school evolving rooms. It is abnormal that the body was found in the school and another great point to note is that the casualty was a man, which is surprising for a vampire story, as customarily the casualties were all vulnerable females. Buffy to explore and found the body was slaughtered by vampires. At home, Buffy plans for the night out to the 'Bronze,' the main night club in Sunnydale. Her mum feels that everything will be fine in Sunnydale and they can have an upbeat life there. It is extremely unexpected as Buffy realizes that awful things are practically around the bend and furthermore this demonstrates her mom is unconscious that she is a 'vampire slayer'. On her way to the club, Buffy faculties she is being taken after and heads into a back street. A tall young fellow leaves the shadows scanning for her. She swings down from a bar above him and thumps him to the ground. He guarantees not to chomp and that he simply needs to help her. This segment embraces up to the point where Buffy swings down and assaults the man. He cautions her of the Harvest and educates her regarding the Hellmouth. This name paints a terrible picture in the gathering of people's psyches and it is the inverse to Sunnydale. Later at the Bronze, Buffy visits with Willow about young men. She tries to motivate Willow to quit pausing and to 'grab the day.' Buffy spots Giles upstairs and goes up to converse with him. He keeps on disclosing to her she is the Slayer and must choose between limited options. At first the setting for this scene may appear to be absolutely radical in a vampire style story, however after idea the scene is dull and brimming with youthful potential casualties so is an advanced adjustment of the settings for the more seasoned stories. For instance, the more conventional stories were set in a memorial park or 'spooky' house, which was dim and the time was dependably in the dead of night. These attributes can likewise be connected to the dance club utilized as a part of Buffy, as it too is dim and individuals just go to these clubs amid the hours of dimness. Buffy recognizes a vampire in the group underneath them and after that understands he's conversing with Willow. The person leaves with Willow as Buffy goes looking for him. She erroneously assaults Cordelia and after that basically ruins her odds for prevalence. As Buffy leaves, she keeps running into Xander and asks him where Willow may have gone or else there will be one all the more dead body tomorrow. The vampire figures out how to lead Willow into the burial ground where he tosses her into a tomb stone. As he tries to get away, Darla touches base with Jesse. Buffy and Xander turn up and Buffy executes one of the vampires and after that battles with Darla as Xander gets Willow and Jesse out to security. A vampire shows up and battles with Buffy. While they are battling, Darla getaways to get Jesse, Xander and Willow. The vampire tosses Buffy into a pine box where he bounces in and inclines in to chomp. Aside from Buffy, a female contender, who figures out how to assault every one of the vampires courageous. This closure underwrites the signifiers we think off when we discuss vampires. As the setting, a cemetery is the typical place for an assault in a gothic or vampire story. It is additionally fascinating to take note of that the scene closes with a cliffhanger, a surprising consummation for some gothic style stories and movies. As customarily, the story completed with either the demise of a casualty or of the assailant. In any TV program or highlight film, camera edges and impacts are critical as they depict certain sentiments that the makers need to show to the gathering of people, these might be something like influencing the group of onlookers to think a character is little and feeble by utilizing a high edge shot, which looks down on the character. Or on the other hand you could utilize the contrary impact by influencing a character to look solid and effective from utilizing a low point shot (turning upward). In 'Buffy The Vampire Slayer' they makers utilize one impact which is highlighted on a few events. This is the place a speedy arrangement of blazing pictures is displayed to the watchers; this system is known as a 'montage of pictures.' In scene 1 this component is utilized twice, in the primary case, the montage is utilized as a title grouping and shows pictures that both subvert and support the traditions, including pictures of signifiers including dark felines, stakes and green creatures alongside current things like female warriors. This succession guarantees watchers quick pace, all activity excitement and shows clasps of future scenes keeping in mind the end goal to empower ceaseless review all through the arrangement. The second montage is indicated where Buffy is sleeping imagining toward the start of the genuine program, after the presentation and the title grouping. This arrangement of pictures is demonstrating the gathering of people that she is anxious as there is some sort of bending in the picture>GET ANSWER