Economics Roundtable

May 2014 Payroll Employment

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

Click on the image to get a bigger version.


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.


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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.”

August 20, 2014, 5:23 am, 1321513
A hat tip to Hannah Thomas who has spotted a new info graphic on human capital produced by the Office for National Statistics. You can find it here
-capi... with more supporting detail and explanation here

August 19, 2014, 7:23 am, 1320904
De-mergers often figure in EdExcel Unit 3 questions e.g. on the structured multiple choice -so this one from mining giant BHP Billitonis a good example to be aware of and to understand the key drivers behind the decision.BHP Billitonplan to sell (divest)non-core assets such as theiraluminium, manganese and nickel mines.As ...

August 18, 2014, 1:23 pm, 1320458
Here is a really excellent blogon the issue of growth divergence - Simon Taylor contrasts the historical growth records of the United States versus Argentina and then South Korea against Ghana. The accompanying charts reveal starkly the widening gap in GDP per capita between each pair of countries over the ...

August 18, 2014, 1:23 pm, 1320457
Western Union and MoneyGram dominate the money transfer industry and the high level of fees that these companies has been heavily criticised in recent years.This is an important articlegiven the huge scale of remittance transfers in the world economy to relatively poor countries such as India, the Philippines and many ...

August 18, 2014, 11:23 am, 1320382
I am arranginga one day discussion forum and seminar on economics teaching at Eton College, Windsor on Monday 17th November The main aim of the day is to have an open discussion on teaching and learning strategies whilst sharing good ideas and resources and building networks between economics teachers from many ...

August 18, 2014, 9:23 am, 1320301
The Asian Development Bank website is an excellent source of information and analysis for many of the developing / emerging countries that students will want to focus ones part of their A2 and IB economics studies. Click here to access their resources: ...

August 18, 2014, 3:23 am, 1320116
The RES is delighted to announce that the 2014 Young Economist of the Year is:Kartik Vira of Hills Road VI Form College, Cambridge, who will receive the glass trophy and a prize of £1,000. Second place goes to Jessica Zeng, Withington Girls’ School, Manchester (£500). Joint third place goes to: ...

August 17, 2014, 5:23 pm, 1320040
Here are the Economics A Level stats updated for this summer (June 2014)Economicspasses 70k for the first time in many years!Student numbers taking AS Econ have more than doubled over the last 8 years ...

August 17, 2014, 5:23 am, 1319874
This is a really excellent piecefrom Larry Elliott at the Guardian on some of the factors that the Bank of England will take into account when deciding the moment to move policy interest rates up from their historic low of 0.5%. To think, there are students who might make it ...

August 17, 2014, 5:23 am, 1319873
Plans for the Swansea Bay tidal lagoon power stationare potentially a superb case study to use when teaching the multiplier effect, renewable energy, cost-benefit analysis, economies of scale and different forms of government intervention including subsidies for harnessing new energy sources.According to an article in the Independent:"The £850m, six-mile-long U-shaped ...