January 29, 2009

CPI

Posted in CPI at 4:10 pm by davidprudente

There’s been a plethora of news about the economy over the past week — all of it bad. The Buruea of Labor Statistcs released its latest report for CPI on January 16th. The report indicated CPI for urban consumers has fallen: “On a seasonally adjusted basis, the CPI-U decreased 0.7 percent in December after declining 1.7 percent in November.”

Now, you might think lower prices would be a good thing for consumers (and it may be). However, can you explain why it points to trouble for the overall economy?

For fun, you can check out this CPI calculator from the BLS web site.

Click here to read more about the BLS and CPI.

Click here for an article about CPI from Bloomberg.com

And of course…Read Chapter 23 – Measuring The Cost of Living

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January 28, 2009

More News

Posted in Consumer Confidence, Economic Indicators, Recession, Unemployment at 8:10 am by davidprudente

Several articles dealing with economic issues we are focusing on in class have appeared on major national news sites.

The first of these articles is a multimedia presentation from the New York Times. The article provides a historical look at how the U.S. government has dealt with recessions over the past 50 years. In addition to providing a timeline, audio from three prominent economists provide insight as to how the government looked to turn the economy around.

In additon, The Consumer Confidence Index was released this week and the numbers were not good.  Statistics released this week indicate that consumer confidence is at an all-time low (since the government began reporting CCI in the mid-1960s).

And, as if the news wasn’t bad enough, Unemployment is edging up in all states. Here’s an interesting chart/map from the Wall Street Journal that shown the current trend in unemployment nationally. Closer to home, the Baltimore Sun reports that Maryland’s Unemployment Rate hit 5.8%, a 15 year high.

January 26, 2009

Economists: Recession getting worse

Posted in Economic Indicators, Recession, Unemployment at 6:04 am by davidprudente

More bad news from CNN

January 25, 2009

Bad News Ahead

Posted in Consumer Confidence, Economic Indicators, GDP at 4:13 pm by davidprudente

Here’s an article from CNN that highlights some of the economic indicators we’ve been discussing in class. To Summarize:

Investors will also digest reports on housing, consumer confidence and leading economic indicators early in the week. The end of the week brings the fourth-quarter gross domestic product (GDP) report. It’s expected to have fallen by an annual rate of 5.2%, it biggest plunge in 26 years.

January 22, 2009

Flying Suit – Extreme Base Jumping

Posted in Uncategorized at 8:45 pm by davidprudente

As mentioned in class, here is the video of the crazy guys flying

Or click here for a better full screen expereince:

http://vimeo.com/moogaloop.swf?clip_id=1778399&server=vimeo.com&sh

January 12, 2009

Game Theory Free Response Explanation

Posted in Game Theory at 11:06 am by davidprudente

Click the link below to read Jon Helman’s explanation. Thanks Jon!

mircoap-2007-game-theory-explanation4

January 10, 2009

Extra Credit – Game Theory

Posted in Game Theory, Oligopoly, Uncategorized at 7:40 am by davidprudente

Click here to download the Free Response extra credit assignment. Complete question 3 only. This assignment is due Monday. I will not accept any late extra credit on Tuesday or thereafter.

In addition, you can review game theory concepts via the Wikipedia site.

January 2, 2009

Chapters 16 & 17 Study Help

Posted in Monopolistic Competition, Oligopoly at 4:55 am by davidprudente

Here are some resources to help you prepare for the coming chapters:

  1. Chapter 16 Lecture Notes
  2. Chapter 17 Lecture Notes
  3. Powerpoint Slides from McConnell & Brue (Click on Chapter 25)

Best of Luck! See you Monday.