EC4333
AIG Outrage
Prof. James Hamilton digests the pure rage AIG’s decision to pay its executives 165 million dollars in bonuses, some of them to people who no longer worked for AIG. Hamilton writes:
“One of the reasons this is so outrageous is that the promise of such bonuses was in fact one of the very factors that caused [...]
EC4333 Lecture 5: Optimal Currency Areas
Introduction
In this lecture, I’ll show you several of the costs of joining an EMU, after recapping on the benefits. These costs are all linked around the idea of a loss of potential flexibility in response to a crisis, much like the one we’re in right now.
How labour markets react to changes in demand for services, [...]
De Grauwe on DSGE Models
De Grauwe gets raw on Central Banks and their reliance on DSGE modeling:
One of the surprising developments in macroeconomics is the systematic incorporation of the paradigm of the utility maximizing forward looking and fully informed agent into macroeconomic models. This development started with the rational expectations revolution of the 1970s, which taught us that macroeconomic [...]
Also taggedCool EC4333 Visualisations
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Course Reviews Spring 2008
Another semester draws to a close. Here’s what I learned from my little experiments in teaching this semester:
1. [EC6012] Asking students to give other students feedback on presentations isn’t smart: everyone will give everyone else a B+.
2. [EC4004] Text messaging in large classes works, but could be more effective if integrated properly into the lecture.
3. [...]
Downloading Podcasts
How to Download the lecture podcasts from Stephen Kinsella on Vimeo.
Also tagged EC6012Site Stats this term
This term (Jan 28-April 27), this website has been visited by 25, 847 unique views, generating 39, 012 pageviews. Most of you spent the 10 minutes and 21 seconds you were on the site in the teaching area of the site, which makes sense.
The podcasts of the lectures were downloaded so many times it broke [...]
CIFREM Doctoral Programme
The CIFREM Doctoral programme at the University of Trento in Northern Italy is accepting applications for funded PhD positions for 3-4 years. If your research interests focus on Behavioural economics, Behavioural studies in management and organisations, Environmental economics, or International Economics, you should consider applying.
UL students can email me for more information.
Details about the course [...]
Some Good Advice
It is impossible for the reader to understand the significance of a theorem or follow a proof if he does not know the exact meaning of terms.
…Once the reasons for the validity of the theorem are seen, once its proof is understood, once the inevitability and logical necessity of the relationship are comprehended, the theorem becomes like an old friend not easily forgotten, quick to be recognized if met again.
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