Monday, Oct 19

To review how money is created, you can read these blog posts. Please write your homework summary of Krugman's chapter 7 for Monday.  It is a great chapter.
You can use a 3X5 card with notes on both sides for the exam.  If you want another blank card, stop by my office. I have posted some of the past handouts on Jenzabar.  I'll bring more review material to class on Wednesday.

For Monday, October 12

Please read the blog posts about the gold standard.  The first post has some questions to think about in your reading. You should also continue reading Krugman.  Your next homework is now due Wednesday.

For Friday, Oct 9

Begin reading Krugman chapter 6 and you will turn in writing about it on Monday.  For Friday, answer two short questions about the previous reading (How Did Economists Get It So Wrong?) and turn them in for homework credit:
1. What is the difference between saltwater and freshwater economists?
2. What does Krugman think is wrong with Macroeconomics?
You can answer each with only a short paragraph.

For Wednesday, Oct 7

For Wednesday, Oct 7, read Krugman's recent article online about How Did Economists Get It So Wrong?
This article sparked a firestorm of commentary across the academic economics blogosphere in the past month and dozens of economists have been writing about it. Mark Thoma made an extensive partial list of internet links that developed in the first couple weeks, but the controversy continues.

For Wednesday, Sept 30

Read this post and think about the question.  Also turn in your writing about chapter 5.

Read for Monday, Sept 28

Read Keynes' beauty contest theory of markets and read Krugman chapter 5.  Your written observations are due Wednesday.

Homework for Friday

Read this short post. Why did US GDP dip so much below trend?  Why did US GDP rise so much above trend?
Also compare Thailand with Iceland's story.

I have a simple homework assignment for you to do for Friday.  It will be trivially easy for some of you, but it is worth doing so that you have a greater appreciation of the stories we are reading about.  Get the map of the world from the handouts section on Jenzabar (this link will only work if you are already signed into Jenzabar), print it out, and find and label:

Mexico, Argentina, Japan, China, Thailand, Indonesia, Korea, Taiwan, Hong Kong, Malaysia, Australia, Britain, England, Ireland, France, Soviet Union, Russia, Latin America, Brazil, S.E. Asia, and Chile.  You’ll have to draw in some lines on your own for some of them and if it is easier to define a location verbally rather than with the map, that is just fine.  Don’t quibble about the perfect definition of regions like Latin America and S.E. Asia; I’m just looking for a general sense of where these places are.

This assignment helps illustrate things like the oddity of international investors mixing up Mexico and Argentina, but not Mexico and Spain. 

For Monday, Sept 21

Read this article about Minsky (not just the blog post, but go to the original Boston Globe article).  Also read this paragraph which critiques of the article.
Finally, when you have done the other reading, to review of what we discussed today, click on this link to listen to or read an NPR article about regulatory arbitrage and read about too big to fail and regulation. I had intended to assign the NPR article earlier this week, but I guess I forgot to mention it. 

Readings To Date

So far we have read Krugman's chapters 1-4, plus two readings about Ponzi schemes.