G11 - Week 16 - Day 2

In-class work

1. The Consequences of and Solutions to Unemployment - part 3 of 3
1. Exercises 7-9 (p. 297)

Ongoing Country Information

1. Figure out unemployment rates
2. Labor participation rates
3. Causes of the above?

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From the blogosphere

1. What Is the Excellence of an Economist?

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Currently Reading

Debt: The First 5,000 Years

and

Bourgeois Equality

G11 - Week 16 - Day 1

In-class work

1. Types of Unemployment and their Causes - part 1 of 3
1. Exercises 1-3 (HL only p. 288 & 292)
2. Exercises 4-6 (p. 292)
2. Illustrating Unemployment in the AD/AS Model - part 2 of 3
3. The Consequences of and Solutions to Unemployment - part 3 of 3
1. Exercises 7-9 (p. 297)

Ongoing Country Information

1. Figure out unemployment rates
2. Labor participation rates
3. Causes of the above?

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From the blogosphere

1. The Most Disruptive Transformation in History

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Currently Reading

Debt: The First 5,000 Years

and

Bourgeois Equality

G11 - Week 15 - Day 3

In-class work

1. Types of Unemployment and their Causes - part 1 of 3
1. Exercises 1-3 (HL only p. 288 & 292)
2. Exercises 4-6 (p. 292)
2. Illustrating Unemployment in the AD/AS Model - part 2 of 3
3. The Consequences of and Solutions to Unemployment - part 3 of 3
1. Exercises 7-9 (p. 297)

Ongoing Country Information

1. Pick a country
2. Find data on GDP
1. Find expenditure and output approach
2. Compare GDP to GNI
3. Nominal vs Real
4. rGDP vs rGDP per capita vs rGDP per capita (purchasing power parity)
5. Do these over or underestimate the country's GDP?
1. Environmental damage?
2. Total volunteer work?
3. Black market activity?
6. Diagram the business cycle
3. Describe major components of country's AD
4. Savings and tax rates?
5. Describe major components of country's AS
6. Unemployment rate?
1. Long-run diagram
7. Labor force participation rate?
1. Long-run diagram
8. Analyze structural forces likely to lead to more or less unemployment in the future

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From the blogosphere

1. Make globalisation more inclusive or suffer the consequences

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Currently Reading

Debt: The First 5,000 Years

and

Bourgeois Equality

G11 - Week 15 - Day 2

In-class work

1. Brief review
2. Ch. 11-12 assessment

From the blogosphere

1.  Should-Read: To paraphrase Rawls: Nobody deserves the benefits that flow because their native endowments and luck have ...
   

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Currently Reading

Debt: The First 5,000 Years

and

Bourgeois Equality

G11 - Week 15 - Day 1

In-class work

1. Ch. 11-12 review
2. Share news articles

From the blogosphere

1. 
   

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Currently Reading

Debt: The First 5,000 Years

and

Bourgeois Equality

G11 - Week 14 - Day 2

In-class work

1. Exercise 1 (p. 273)
2. An Introduction to Aggregate Supply

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From the blogosphere

1. Which kind of countercyclical fiscal policy is best?
2. "a very interesting paper"
1. "The figure shows considerable variation over time, establishing that the state of the economy is crucial for the effectiveness of fiscal policy response.32 Multipliers rise considerably during the financial crisis, and tend to be low during other periods. Interestingly, the purchases multipliers is the most stable, and smaller than one. It only rises modestly around the Lehman event, and falls sharply during 2009 (precisely when the ARRA is implemented). The transfer multiplier is typically lower than the purchases multiplier, and is even negative during some periods of expansion. It rises considerably, above 1.5, during the financial crisis, which is consistent with the large role of transfers for stabilization. Bank recapitalizations also have fiscal multipliers that are typically negative but rise considerably during the crisis, going over 2. These facts provide further evidence on the stabilizing role of these two fiscal policy tools during the financial crisis. Interestingly, and unlike government purchases, these effects are extremely state dependent as these two tools have the potential to generate negative multipliers if used during periods of expansion." (p. 47-48)
3. Confusions about the multiplier < 1 (me defending
4. Mobilizing Real Resources

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Currently Reading

Debt: The First 5,000 Years

and

Bourgeois Equality