November 29, 2008

Mankiw’s Latest Article in the NYTs

Posted in Aggregate Demand, Consumer Confidence, Fiscal Policy, John Maynard Keynes, Macroeconomics, National Debt, Savings & Investment at 4:53 pm by davidprudente

Here is Professor Mankiw’s latest article appearing in the New York Times…discussing what John Maynard Keynes would do in the current crisis…you’ll be reading about Keynes next in the Worldly Philosophers.

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December 1, 2007

MIT Curriculum on-line & Free

Posted in Macroeconomics, Research at 10:31 am by davidprudente

Here’s an article from today’s globe explaining MIT’s initiative to provide all their courses on-line and for free. You can explore all 1800 courses by following this link. There are many economics courses including principles of microeconomics for those of you choosing to do an independent study for the AP Micro exam.

November 20, 2007

The Fed Forcasts Slower Growth Next Year

Posted in Economic Growth, Federal Reserve, Macroeconomics, Monetary Policy at 5:37 pm by davidprudente

Check out this brief article from today’s Boston Globe. The Fed thinks economic growth will slow over the next year and unemployment will increase. Based on what we’ve discussed in class, what indicators might the Fed be looking at in making this prediction? How’s ’bout I give you 1 extra credit point on tomorrow’s quiz for answering this correctly.

Here’s a little longer article from CNN.

November 10, 2007

Homework – Chapter 22

Posted in Assignments, Macroeconomics, Oil Prices at 12:27 pm by davidprudente

As I mentioned in class, there are several questions & problems I’d like you to complete for homework. You will find these on page 509: Questions for Review #’s 4, 5, 6. Problems and Applications #’s 1, 2, 3, 4, 5, 6, 7, 12.

In addition, I handed out a copy of the following article from The Boston Globe about how the rise in oil prices may effect the U.S. economy. In addition, if you’d like to read more about the current concerns regarding rising oil prices, here is an interesting article from yesterday’s New York Times.

Also, In a post from earlier this year, The Freakonomics blog asks if the rise in oil prices will make Americans skinnier. As always, the Freakonomics blog takes an unconventional approach in thinking about this problem.

November 8, 2007

Let the Study of Macroeconomics Begin

Posted in Macroeconomics at 9:14 pm by davidprudente

Have you ever thought about what causes a recession? Why is the economy strong sometimes and depressed at other times? Most of my students really have no recollection of the last recession in the United States (2001-2002) and some of you may not have been born when the U.S. experienced the previous recession (1991-1992).

During the vast majority of your lives the U.S. has experienced strong economic growth. As you approach your college years, most of you have said your goal in going to college is to “get a good job.” But, what if by the time you graduate the U.S. is in a severe recession; will you be able to find a good job?

Over the next several month’s we’ll be focusing on why economies experience ups and downs. According to Mankiw, “Macroeconomics The study of economy-wide phenomena, including inflation, unemployment, and economic growth.

Chapter 22—Measuring a Nation’s Income, introduces the major concepts we will consider the rest of the year.