May 18 2011
Welker’s daily links 05/18/2011
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Introduction to Game Theory | Yale Political Science Lecture
A summer course on game theory from Yale…
Archive for the 'Daily Links' Category
Jan 25 2011
Welker’s daily links 01/25/2011
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Introduction to Development – exploring prezi | Economics in Plain English
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This is an introduction to the concept of economic development which I am teaching to my class at the moment. You can click through the prezi by pressing the play button and choosing fullscreen under “more”. The up and down arrow keys, zoom in and out.
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Lesson Plan – Myths about Economic Development – debunked | Economics in Plain English
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- What is human development and what factors contribute to this development?
- What does it mean to have an improvement in the standard of living?
- What is the difference between economic growth and development?
- What indicators are used to measure the economic development of nations?
- How can data help us to better understand LDC’s while developing more effective strategies to improve their development.
- What are obstacles that stand in the way of development?
Essential Questions
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Nov 15 2009
Welker’s daily links 11/14/2009
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LRB · John Gray · We simply do not know! – Annotated
AP Macro and IB teachers should read this review of George Akerlof and Robert Schiller’s book “Animal Spirits”. There are some great points in this piece that can be brought into the AP or IB classroom with regards to the assumption of rational behavior and more importantly the Keynesian/Classical debate on Macroeconomic policy issues.
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The last two years, in which capitalism has suffered one of its periodic shocks, have given John Maynard Keynes a new lease of life. Events have demonstrated the limits of the theory that economies can be relied on to be stable if they are lightly regulated and otherwise left to themselves. There is now much talk of the paradox of thrift, whereby the rational choices of individuals can prove collectively ruinous, and of the need for government to counteract the inherently anarchic tendencies of markets. Keynes has been revived because he understood that markets are very often irrational. Unfortunately, few of those who urge that we go back to him seem to have understood why he believed this.
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Apart from a brief postscript to one of the chapters and a few remarks in the preface, George Akerlof and Robert Shiller’s Animal Spirits was written before the current crisis. Yet, based on research undertaken over many years, it can be read as prefiguring the current disillusionment with economics. The trouble with prevailing theories, in Akerlof and Shiller’s view, is that they assume human beings are more rational than they actually are. ‘This book, which draws on an emerging field called behavioural economics, describes how the economy really works,’ they claim. ‘It accounts for how it works when people really are human, that is, possessed of all-too-human animal spirits.’
- – post by jasonwelker
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‘Just as Adam Smith’s invisible hand is the keynote of classical economics,’ they write, ‘Keynes’s animal spirits are the keynote to a different view of the economy – a view that explains the underlying instabilities of capitalism.’ Here they are endorsing the caricature of Smith propagated by neoliberal ideologues anxious to confer a distinguished patrimony on an illegitimate intellectual offspring.
- – post by jasonwelker
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Shackle took Keynes’s argument a step further, and showed that no economic policy can ensure economic stability indefinitely. ‘Keynesian’ policies are no exception to this rule. Deficit financing and monetary expansion may have worked well in the conditions that existed after the Second World War. It is not clear that they will be so effective today, when globalisation has brought a freedom of capital movements that did not exist then.
- – post by jasonwelker
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Economics and politics are not separate branches of human activity, and economic life cannot be studied independently of social divisions and political conflicts among populations, along with their cultures and religions.
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Posted from Diigo. The rest of my favorite links are here.
Nov 07 2009
Welker’s daily links 11/06/2009
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A special report on China and America: : Round and round it goes | The Economist – Annotated
China and the US have a complicated relationship when it comes to trade. It may be changing in the future due to the recession in America, but for some that change can’t come fast enough!
Nov 06 2009
Welker’s daily links 11/05/2009
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YouTube – ACDCLeadership’s Channel
Mr. Clifford and ACDC Leadership is dedicated to creating interactive programs, lessons, and activities that make learning exciting.
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Knowledge Learning Corporation | Child Care & Education Services
Are you looking for a great opportunity, a rewarding career, or the chance to make a difference? KC Distance Learning is hiring NCLB Highly Qualified High School certificated teachers to fill positions across the country. We currently have part-time and full-time positions available for qualified teachers who want to work from their home. Working at KCDL you will enjoy a flexible work environment, utilize the latest distance learning and communications technology, and, best of all, you can help students from all walks of life achieve their individual potential.
Posted from Diigo. The rest of my favorite links are here.
Oct 01 2009
Welker’s daily links 09/30/2009
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Video: Joseph Stiglitz: The Balance Sheet : The New Yorker
VIDEO: JOSEPH STIGLITZ
James Surowiecki spoke with Professor Joseph Stiglitz, the Nobel Prize-winning economist, about the mishandling of the financial crisis, the relationship between government and markets, and the future of capitalism around the world. They met last month at Stiglitz’s office at Columbia University.
Posted from Diigo. The rest of my favorite links are here.
Sep 13 2009
Welker’s daily links 09/12/2009
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FT.com / China / Economy & Trade – China’s economic rebound boosts jobs
Employment levels in China began to recover over the past three months in the latest evidence of the rapid rebound in the economy from the international financial crisis as a result of heavy public investment.
Posted from Diigo. The rest of my favorite links are here.
Sep 12 2009
Welker’s daily links 09/11/2009
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Economic Growth Yet to Hit Job Market – washingtonpost.com
Despite an emerging economic expansion, businesses were sufficiently skittish about the future that the job market continued its long, steep decline in August, according to a new government report Friday. The unemployment rate rose to 9.7 percent, from 9.4 percent, as employers shed jobs for the 20th straight month, the Labor Department said.
Posted from Diigo. The rest of my favorite links are here.
Aug 27 2009
Welker’s daily links 08/26/2009
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BBC World Service – Business – Is inflation or unemployment worse?
Should we worry more about unemployment or inflation?
Is the massive spending of taxpayers’ money by governments, to make good the current aversion to spending by everybody else, storing up inflation or not?
The fear in some quarters, is that governments will eventually print money to finance today’s spending.
Policy prioritiesIn a way, it is a re-run of the debate that has rumbled on since the 1930s between Keynesians on one side – and neo-classical economists and monetarists on the other.
Posted from Diigo. The rest of my favorite links are here.
Aug 26 2009
Welker’s daily links 08/25/2009
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FT.com / Comment / Opinion – Magic and the myth of the rational market
One response to the current crisis has been a rise in the popularity of behavioural economics, which examines the psychological and emotional factors behind transactions. These models drop the assumption of the rational actor yet implicitly keep the same model of economic rationality at their heart. We may diverge from the path of rationality for all sorts of psychological reasons but only because emotion, Keynes’s famous “animal spirits”, clouds our judgment.
Posted from Diigo. The rest of my favorite links are here.
