Economics Roundtable

January 2014 Payroll Employment

We are getting closer to the previous peak.

Click on the image to get a bigger version.


Jobs

The best summary of the state of our economy is the graph (below) of employment as a fraction of population for people over 16 years old. The decrease is large, but the most troubling feature of the graph is the flat trend .


Click on the image to get a bigger version.


Graph-of-the-Year Candidates

Donald Marron likes European interest rates. Click on the image to get a bigger version. Can you find three distinct subperiods?

Brad DeLong favors the U.S. gdp gap.


Remember M1?

Money Supply M1 growth is now over 20% per year over a 12 month lag. M1 growth has touched 20% before, but not with excess reserves of $1.6 trillion. Where is M1 headed?


Click on the chart for a larger version.


EconModel

The Economics Roundtable is sponsored by EconModel.

The Classic Economic Models cover micro, macro, and financial markets.


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MV = PQ (Tim Schilling)

"Ideas and discussions about economic and financial literacy issues. This blog is an outreach service of The Powell Center for Economic Literacy.”


February 11, 2014, 5:23 pm, 1222290


February 11, 2014, 5:23 pm, 1222292


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February 11, 2014, 5:23 pm, 1222291
Opportunity cost, cost/benefit and marginal analysis, it's all here.


February 11, 2014, 5:23 pm, 1222273
This is not appropriate for use in high schools. However, those of you who teach at the college or university level may find this helpful.  Econgirl at EconomistsDoItWithModels has a great illustration of non-price determinants of demand with the help of "the most interesting man in the world."


February 11, 2014, 5:23 pm, 1222274
If you discuss the Chevy Volt with your students, you might want to use this. (HT to Carpe Diem.)


February 11, 2014, 5:23 pm, 1222272
Our natural propensity to "truck and barter" as Adam Smith would say:
http://www.gocomics.com/frankandernest/2012/04
/30

(HT to Greg Mankiw)


February 11, 2014, 5:23 pm, 1222269
Economist James Buchanan has passed away.  Buchanan, along with Gordon Tullock, won the Nobel Prize for Economics in 1986 and is known for his work on public choice theory.

You can read his Nobel Prize lecture here.

I had several opportunities to hear Dr. Buchanan speak ...


February 11, 2014, 5:23 pm, 1222270
It's early in the semester and many of us who are teaching principles or survey courses are either just into choice or only recently moved on. Here's a great article from today's edition of The Wall Street Journal that sets up a choice that is sure to promote discussion.


February 11, 2014, 5:23 pm, 1222271
Courtesy of Wondermark.
http://wondermark.com/842/