Economics Roundtable

May 2014 Payroll Employment

After 76 months, we finally got back to the prerecession level of payroll employment.

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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 .


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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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Economics in the News

"Geoff Riley (Head of Economics at Eton College) provides a regular commentary on economics issues and trends - essential daily reading for all economics students and teachers.”


July 13, 2015, 9:28 am, 1508144
During our recent Economics departmental meeting, we discussed various websites we can't live without in regard to the teaching and learning of Economics. Some of our favourite ones are below. Enjoy...


July 13, 2015, 9:28 am, 1508146
This is an excellent podcast to introduce year 12 students to the importance of controlling inflation and the perils of deflation. 


July 13, 2015, 9:28 am, 1508147
Numbeo is a new online database that helps make international comparisons in order to compare living standards.  It shows data by city and country on crime rates, pollution, health care, property prices and other key indicators.  Much like Wikipedia, data is entered by its various users in different cities around the world.It's worth ...


July 13, 2015, 9:28 am, 1508145
The current recovery has been different in the United States. Though unemployment has fallen from 10% to 6.1%, labour-force participation has not increased. In fact, it has declined to its lowest level since 1978. This is controversial. Some economists say long-term structural factors, mainly aging, explain most of the ...


July 13, 2015, 9:28 am, 1508118
Has the UK's rail privatisation been a success or failure? This clip, taken from the BBC Daily Politics show last year in 2013 gives students a really good example of the pro and con debate of privatisation of the railways - this especially helps with teaching of the F584 OCR Transport Module. ...


July 13, 2015, 9:28 am, 1508119
Last week the University of Worcester hosted a Teach Meet event in the West Midlands. I gave a nano presentation (3 mins) on the use of twitter for teaching and learning. The resources I used are attached below.I ask all students to follow the Departmental Twitter page and then once ...


July 13, 2015, 9:28 am, 1508117
He's back!  Sort of by popular demand!  If you're looking for a quickfire activity for your Economics lessons this week then download the latest edition of the Angry Economist.  Ask your students to choose one of the 8 policies announced in today's Autumn Statement by George Osborne and our favourite curmudgeonly ...


July 13, 2015, 9:28 am, 1508114
Julie Walters is the latest actor to claim that opportunities for young actors in the UK are unequal in today's Daily Mirror.  There seems to have been a slew of similar claims in recent months from the likes of Ian Mckellen, Judie Dench, Stephen Morrisey and Stephen McGann. How would economists illustrate ...


July 13, 2015, 9:28 am, 1508115
Every so often I read an article and start to tot up the number of economic concepts being covered in just a few words.  This occurred to me again this morning when reading this BBC news article on train fare rises.  Train fares are pegged to July's inflation rate and, as inflation ...


July 13, 2015, 9:28 am, 1508116
American financial services firm PNC have been producing an index of the price of Christmas for many years. They take the carol The 12 Days of Christmas, and calculate the cost of all the 'gifts' given in the carol, then create an index of how much those prices have changed ...