Food for thought

You are more than welcome to hate the idea behind this. What would an economist say?

Review guide for Test 2

Here.

Come to class tomorrow prepared to discuss. The test is on Thursday.

Course Schedule for the upcoming days and Homework

Found here. 

Questions due Thursday on chapter 8 in Word format
                                            or in Googledocs format

A New Norm for Unemployment?

Here is someone else doing what I asked you to do over the weekend: analyzing the latest jobs report from BLS.

Women Now a Majority in American Workplaces

Women Now a Majority in American Workplaces: "As in previous recessions, male workers have borne the brunt of the job losses in the last two years."

Check this out on unemployment: for the test you will want to know why women have been steadily increasing their percentage of participation in the US workforce.

Homework for the weekend and next week

In light of today's data, your assignment over the weekend is to give an analysis of the latest unemployment report. The report (found here) is 42 pages long, but I have already read it through for you and will direct you to the highlights.

Read and consider the following:
1. Read all of pages 1-3 (summary)
2. Table A, page 8, especially unemployment rates
3. Table B, page 9, especially hours and earnings
4. Skim pages 10-11 (questions- read any that are of interest to you)
5. Table A2, focus on rates
6. A-4, A-12, A-13
7. A-15: This is the official unemployment chart we looked at in class. Remember, U-3 is the "official" unemployment rate, U-6 is the broadest measure.
8. B-1: This is a long chart, but look mostly at the last column.
9. B-8: Look at the last 2 columns and consider any significant size changes.

As you look at each section, jot down (or type, copy, mark) any significant points or ideas that you see. Type up a one page analysis of the current employment situation. Do you think this is a significant change? Is the news positive or negative overall? You should also include your own critical questions or points for discussion for class on Monday.

For Wednesday (no class Tuesday), read chapter 8. We will park here for a couple of days before going back to Harford, then have a test over chapters 5-8.

Homework for Friday

First listen to this piece on Venezuela from the show Marketplace. Take notes using some of the terms and ideas we discussed on chapter 7 today in class. (Here is the link for the text if you are unable to listen.)

Second, suppose you were an investor interested in investing a substantial sum of money in a foreign country's industry. Do a little research into economic conditions in your country. Again, think about the factors of production and ways of encouraging growth we discussed in class today. Suggested links: go to worldbank.org and click on the Countries tab, or try the CIA fact book. Here is a form to fill out.

Andy-Cuba
Paige-Tanzania
Lola-Thailand
Firass-El Salvador
Sam- Romania
Saira- Algeria
Aahad- Nepal
Tommy- Zimbabwe

Homework in the near future

For Thursday, Feb. 4th, read chapter 7.
(If you were out on Wednesday, please get notes from classmates on inflation)

For those who missed class today: get notes on inflation from your peers. We answered these three questions:

1. Explain how the current US tax system levies taxes on capital gains and earned interest. What does this mean for the costs of inflation?
2. Does inflation always cause workers losses due to decreases in real wages? Why or why not?
3. What is a GDP deflator? Why do some economists consider the GDP deflator to be a better measure of overall inflation than CPI?

Homework for Wednesday, Feb. 3rd

Read the following pieces and jot down some notes for class discussion.

On the makeup of unions.

On the new jobs-creation tax credit.  (Think about how this will affect the market for job-seekers)

How do you count "jobs created?"