G11 - Week 24 - Day 1

In-class work

1. Fiscal policy
1. Automatic Stabilizers in Fiscal Policy
1. Exercise 2 (p. 375)
2. Fiscal Policy - The Government Spending Multiplier
3. Fiscal Policy - the Tax Multiplier
1. Exercise 3-5 HL Only (p. 378)
4. Fiscal Policy: Introduction to Bond Markets and Interest Rate Determination
5. Evaluating Fiscal Policy - the Crowding-out Effect - part 1
6. Evaluating Fiscal Policy - the Crowding-out Effect part 2
7. Evaluating Fiscal Policy: Budget Deficits, National Debt and Interest Rates

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Currently Reading

Blog -  An Economy is not a Business

Book - The Great Leveler: Violence and the History of Inequality from the Stone Age to the Twenty-First Century

G11 - Week 23 - Day 3

In-class work

1. Fiscal policy
1. Fiscal Policy: The Relationships between Budget Deficits, Surplus and National Debt
1. Exercise 1 (p. 369)
2. Automatic Stabilizers in Fiscal Policy
1. Exercise 2 (p. 375)
3. Fiscal Policy - The Government Spending Multiplier
4. Fiscal Policy - the Tax Multiplier
1. Exercise 3-5 HL Only (p. 378)
5. Fiscal Policy: Introduction to Bond Markets and Interest Rate Determination
6. Evaluating Fiscal Policy - the Crowding-out Effect - part 1
7. Evaluating Fiscal Policy - the Crowding-out Effect part 2
8. Evaluating Fiscal Policy: Budget Deficits, National Debt and Interest Rates

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Currently Reading

Blog -  The academic consensus on austerity solidifies, but policymakers go their own sweet way

Book - The Great Leveler: Violence and the History of Inequality from the Stone Age to the Twenty-First Century

G11 - Week 23 - Day 2

In-class work

1. Fiscal policy
1. Introduction to Fiscal Policy - Expansionary vs. Contractionary Policies
2. Fiscal Policy: The Relationships between Budget Deficits, Surplus and National Debt
1. Exercise 1 (p. 369)
3. Automatic Stabilizers in Fiscal Policy
1. Exercise 2 (p. 375)
4. Fiscal Policy - The Government Spending Multiplier
5. Fiscal Policy - the Tax Multiplier
1. Exercise 3-5 HL Only (p. 378)
6. Fiscal Policy: Introduction to Bond Markets and Interest Rate Determination
7. Evaluating Fiscal Policy - the Crowding-out Effect - part 1
8. Evaluating Fiscal Policy - the Crowding-out Effect part 2
9. Evaluating Fiscal Policy: Budget Deficits, National Debt and Interest Rates

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Currently Reading

Blog -  Much of econ has become more scientific

Book - The Great Leveler: Violence and the History of Inequality from the Stone Age to the Twenty-First Century

G11 - Week 23 - Day 1

In-class work

1. In-class assessment review
1. Command terms? (p. 96-97)
2. Definitions?
3. Theory?
4. Diagram?
5. Example?
6. Evaluation?
1. Conclusion?
2. Long and short-term effects?
3. Assumptions?
4. Stakeholders? - consumers, producers, government, taxpayers
5. Priorities?
6. Pros and cons?
2. Fiscal policy
1. Introduction to Fiscal Policy - Expansionary vs. Contractionary Policies
2. Fiscal Policy: The Relationships between Budget Deficits, Surplus and National Debt
1. Exercise 1 (p. 369)
3. Automatic Stabilizers in Fiscal Policy
1. Exercise 2 (p. 375)
4. Fiscal Policy - The Government Spending Multiplier
5. Fiscal Policy - the Tax Multiplier
1. Exercise 3-5 HL Only (p. 378)
6. Fiscal Policy: Introduction to Bond Markets and Interest Rate Determination
7. Evaluating Fiscal Policy - the Crowding-out Effect - part 1
8. Evaluating Fiscal Policy - the Crowding-out Effect part 2
9. Evaluating Fiscal Policy: Budget Deficits, National Debt and Interest Rates

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Currently Reading

Blog -  Should-Read: James Kwak : Health Care and John D. Rockefeller’s Dog : "Few people actually want to live in a world wher...

Book - The Great Leveler: Violence and the History of Inequality from the Stone Age to the Twenty-First Century

G11 - Week 22 - Day 2

In-class work

1. In-class assessment for 13-16

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Currently Reading

Book - The Rise and Fall of American Growth

G11 - Week 22 - Day 1

In-class work

1. Review day of chapters 13-16

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Currently Reading

Book - The Rise and Fall of American Growth

G11 - Week 21 - Day 3

In-class work

1. Equity in the distribution of income
1. What do you deserve?
1. Why should you be at Stamford instead of a child in Cambodia?
2. Why should your parents make more income than someone else?
3. Why should they get to keep the income?
4. Explain why in the comments.
2. Different Tax Systems' Effects on Income Distribution (part 1)
3. Different Tax Systems' Effects on Income Distribution (part 2)
1. Exercise 7 (p. 360)
2. Exercise 8-11 (p. 362 HL Only)

Ongoing Country Information

1. Figure out unemployment rates
2. Labor participation rates
3. Causes of the above?
4. What are the inflation rates?
5. What's the economic growth been?
6. What's the level of inequality?
1. With the Gini index?
2. With the 20/20 ratio?

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Currently Reading

Blog - Extreme Inequality Is Not Driven by Merit, but by Rent-Seeking and Luck

Book - The Rise and Fall of American Growth

G11 - Week 21 - Day 2

In-class work

1. Equity in the distribution of income
1. Quantifying Income Inequality part 1 - The Gini Coefficient (Index)
2. Quantifying Income Inequality part 2 - the 20/20 Ratio
1. Exercises 1-3 (p. 350)
3. Different Tax Systems' Effects on Income Distribution (part 1)
4. Different Tax Systems' Effects on Income Distribution (part 2)
1. Exercise 7 (p. 360)
2. Exercise 8-11 (p. 362 HL Only)

Ongoing Country Information

1. Figure out unemployment rates
2. Labor participation rates
3. Causes of the above?
4. What are the inflation rates?
5. What's the economic growth been?
6. What's the level of inequality?
1. With the Gini index?
2. With the 20/20 ratio?

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Currently Reading

Blog - Yes. Concentrated Wealth and Inequality Crushes Economic Growth

Book - The Rise and Fall of American Growth

G11 - Week 21 - Day 1

In-class work

1. Marginal University Economic Growth
1. The Idea Equation
2. Economic Growth in the Short-run and Long-run
1. Exercises 4-11 (p. 338-340 HL Only)
3. Equity in the distribution of income
1. The Lorenz Curve and Income Distribution
2.  Quantifying Income Inequality part 1 - The Gini Coefficient (Index)
3.  Quantifying Income Inequality part 2 - the 20/20 Ratio
1. Exercises 1-3 (p. 350)
4.  Different Tax Systems' Effects on Income Distribution (part 1)
5. Different Tax Systems' Effects on Income Distribution (part 2)
1. Exercise 7 (p. 360)
2. Exercise 8-11 (p. 362 HL Only)

Ongoing Country Information

1. Figure out unemployment rates
2. Labor participation rates
3. Causes of the above?
4. What are the inflation rates?

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Currently Reading

Blog - Poverty is a far bigger problem than inequality, by Scott Sumner

Book - The Rise and Fall of American Growth

G11 - Week 20 - Day 1

In-class work

1. Marginal University Economic Growth
1. Exercises 1-3 (p. 336)
2. TED Talk: How Ideas Trump Crises
3. The Idea Equation
2. From Tyler Cowen
1. On Value, the Crusonia Plant, and “Wealth Plus”
1. What is Cowen's basic argument?
2. Do you agree with him? Why or why not?
3. How would you value compenents of society?
1. Unemployment
2. Inflation
3. Growth
4. Rights
5. Income distribution (to be learned next)

Ongoing Country Information

1. Figure out unemployment rates
2. Labor participation rates
3. Causes of the above?
4. What are the inflation rates?

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Currently Reading

Blog - Poverty is a far bigger problem than inequality, by Scott Sumner

Book - The Rise and Fall of American Growth