The Fed Chairman Game

Check out this game created by the Federal Reserve. It deals with exactly what we are studying right now, monetary policy. The game puts you in the position of the Fed Chairman, and you must manipulate interest rates in order to balance unemployment and inflation. Click on the learn more button before playing. Investigate the Fed Toolkit and the other items in the help section. After this play the game. Give me a short summary of your strategy and how it went.

Keynes vs. Hayek: The Debate Continues

Read the article and decide which famous Economist you most identify with. Then watch the two youtube videos at:
Fear the Boom and Bust: http://www.youtube.com/watch?v=d0nERTFo-Sk

and Part II of the Epic Battle at:
Fight of the Century: http://www.youtube.com/watch?v=GTQnarzmTOc

Identify at least 3 points from either Economist that you agree with. List the point and the video that it came from. Don't copy your classmates responses.

The Worlds Fastest Growing Cities

As the world population is about to break the 7 billion mark, once again we focus on the changing nature of the global population. According to the article, "The world is currently undergoing a mass urbanization -- as of 2008, and for the first time in history, a majority of the global population now lives in cities. That's just the start. According to the United Nations Population Fund, the urban-dwelling population will swell to nearly five billion by 2030. But whereas it once was the alpha world cities such as New York, London, and Shanghai that were the primary magnets for young people looking to make their fortunes, now a surprising new crop of boomtowns, from the Middle East to Mali, are seeing their populations leapfrog to the top of the list."
Check out the fastest growing cities. What surprises did you notice? What problems do you foresee for these cities? What accounts for this rapid growth?

Is America actually Underpopulated?

The most recent Republican debate focused on whether Mitt Romney's yard was mowed by illegal aliens or not. This recent editorial in the New York Sun makes the point that the U.S. is actually underpopulated and that we need more immigrants not fewer. Read the article and leave your thoughts.

Is it time to Retire the Penny?

Has the venerable $.01 piece outlived its usefulness? Check out the website for some of the arguments in favor of eliminating the penny. What do you think? Also check out this guys hilarious rant against the penny.

Is paying kids for good grades; right or wrong?

There have been several experiments by school districts at paying students for attendance, good behavior, and good grades. The most recent attempts in Washington, D.C. and New York City have shown some promising results. Money is a powerful incentive. Read the article and leave your thoughts about "money for grades."

The World Clock

This is a repeat of an older post, but I still love this site. Check out the world clock. Do you see any trends? Any of the numbers surprise you? Check out some of the other features on the site.

It's a Small World After All

Here is a great quote about the interrelatedness of the global economy, and it comes not from a famous economist but from someone you all know.

"Did you ever stop to think that you can’t leave for your job in the morning without being dependent on most of the world? You get up in the morning and go to the bathroom and reach over for the sponge, and that’s handed to you by a Pacific islander. You reach for a bar of soap, and that’s given to you at the hands of a Frenchman. And then you go into the kitchen to drink your coffee for the morning, and that’s poured into your cup by a South American. And maybe you want tea: that’s poured into your cup by a Chinese. Or maybe you’re desirous of having cocoa for breakfast, and that’s poured into your cup by a West African. And then you reach over for your toast, and that’s given to you at the hands of an English-speaking farmer, not to mention the baker. And before you finish eating breakfast in the morning, you’ve depended on more than half the world. This is the way our universe is structured, this is its interrelated quality." Martin Luther King, 1967

Your assignment this week is to find 5 items that you use in your everyday lives and determine where they are produced. Look on the bottom for the "Made in ..." stamp.
List the items and the country where they are made. Be creative. You'll be surprised at the journey that some of these common items have made to get into your hands.

100 Economics Blogs

Review two blogs from this list of the 100 best blogs for economics students. Make sure they are from different categories, and don't repeat one that someone else has already done. Yes I realize that this means you will have to check the previous posts to see which ones have already been reviewed. The sooner you do this one the easier it will be. Reviews need to include:
1) Content
2) Appearance
3) Ease of Navigation
4) Apparent bias

Place your name and class period at the bottom of your entry

Welcome Future Economists of the Class of '12

This assignment is due Wednesday, August 24,2011. Click on the Reffonomics link on the right side of this page. Click on Basic Concepts. Page through the four power point presentations in the Introduction to Economics Unit. 2004 - 2009 2nd ed, "What is Economics", "Opportunity Cost", " Resources", and "Fallacies". Click on the first "Multiple Choice Questions" link. Fill in your first and last name and take the 10 question quiz. You will then print out your results and turn them in to me on Wednesday during class.

Distilling the Wisdom of C.E.O.’s

Check out this article from the NY Times, it identifies some of the characteristics shared by CEOs of corporations. Of those traits listed which one do you think is the most important? List a few characteristics that you think should be added to the list. Of those listed, which characteristics do you feel that you possess, and which ones would you need to work on?

The Fed Chairman Game

Check out this game created by the Federal Reserve. It deals with exactly what we are studying right now, monetary policy. The game puts you in the position of the Fed Chairman, and you must manipulate interest rates in order to balance unemployment and inflation. Click on the learn more button before playing. Investigate the Fed Toolkit and the other items in the help section. After this play the game. Give me a short summary of your strategy and how it went.

Does Apple Stand a Chance?

I came across this article from 3 years ago that didn't give Apple much of a chance with their new iPhone. Read the article and answer the 4 questions at the end of it. Then tell me why you think that Apple was a success with the iPhone.

Its all about the Incentives

Read the following article about how the Swiss deal with the negative spillover costs associated with garbage. Answer the three questions at the end of the article. Be original do not copy previous posts.

Super Bowl Ads

With a captive audience of over 110 million viewers during Super Bowl XLV, businesses lined up to pay the $100,000 per second, fees for their commercials. The average 30 second commercial cost $3.1 million just for the air time. Click on the title and go to hulu.com to see all of the commercials that aired during the Super Bowl. Pick your 3 favorites, and give me the one that was most likely to cause you to buy their product.

The World Clock

This is a repeat of an older post, but I still love this site. Check out the world clock. Do you see any trends? Any of the numbers surprise you? Check out some of the other features on the site.

Is it time to Retire the Penny?

Has the venerable $.01 piece outlived its usefulness? Check out the website for some of the arguments in favor of eliminating the penny. What do you think? Also check out this guys hilarious rant against the penny.

Grinchonomics

I know that I told you that Economics was not really the "dismal science." However you may have other ideas once you read this article about the Economics of Christmas. Read the article and answer the discussion question at the end that corresponds to the number that you receive in class. Have a great week.

100 Best Economic Blogs

Review two blogs from this list of the 100 best blogs for economics students. Make sure they are from different categories, and don't repeat one that someone else has already done. Yes I realize that this means you will have to check the previous posts to see which ones have already been reviewed. The sooner you do this one the easier it will be. Reviews need to include:
1) Content
2) Appearance
3) Ease of Navigation
4) Apparent bias

Welcome and Assignment #1

This assignment is due Friday, January 7,2011. Click on the Reffonomics link on the right side of this page. Click on Basic Concepts. Page through the four power point presentations in the Introduction to Economics Unit. 2004 - 2009 2nd ed, "What is Economics", "Opportunity Cost", " Resources", and "Fallacies". Click on the first "Multiple Choice Questions" link. Fill in your first and last name and take the 10 question quiz. You will then print out your results and turn them in to me on Friday.