May 2014 Payroll Employment
After 76 months, we finally got back to the prerecession level of payroll employment.
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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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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.
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.”
September 17, 2014, 1:23 pm, 1336607
The Scottish Independence issue considered in a short video by Prof Ronald MacDonald of Glasgow University.
September 17, 2014, 7:23 am, 1336375
Continuing our theme of sharing engaging activities, here's a fun teaching resource that lasts between 15 and 20 minutes called 'Face It' - a resource that has been extremely popular when we've used it during our teacher CPD events. On the grounds that it may still be too early to ...
September 16, 2014, 1:23 pm, 1335934
Here's a pleasant and short Powerpoint presentation on Perfect Competition that you may wish to include as part of any lesson on the subject. The presentation shows how price, supply and average and marginal revenue shifts as more firms enter the market and the impact that has on profits.Click here to ...
September 16, 2014, 1:23 pm, 1335933
The overall rate of infant mortality has been halved in the past two decades.That's the good news. But Unicef' s latest figures estimate every day 17,000 under-fives die - 6.3 million a year - from largely preventable causes. Most of the deaths happen in the first hours or weeks following ...
September 14, 2014, 1:23 pm, 1334710
The growth vrs the environment debate is great for opening a thoughtful discussion about the net benefits of economic growth. Some participants take what might be described as a Kuznets Curve approach to the issue. That might be simply summarised as things get worse to begin with, but after a ...
September 14, 2014, 9:23 am, 1334647
CPD COURSETeaching the New A Level Economics: Mastering Quantitative MethodsLondon 10 December 2014 Manchester 17 December 2014 Download booking formA key feature of the new A Level and standalone AS specifications (for first teaching from September 2015) is a greater focus on quantitative methods.The Ofqual subject criteria with which awarding ...
September 14, 2014, 7:23 am, 1334596
WOW! Economics 2015 is tutor2u's flagship CPD course for ALL A Level Economics teachers.WOW! Economics 2015 builds on the phenomenal success of the previous two years with yet another resource-packed day designed to provide teaching colleagues with effective and innovative teaching & learning materials.The 2015 course features completely brand new teaching ...
September 14, 2014, 3:23 am, 1334518
Here is a useful update on recent changes to UK competition law - pertinent for teachers who want to keep up to speed with reforms to competition authorities including the creation of the Competition and Markets Authority.http://www.parliament.uk/briefing-papers
September 12, 2014, 1:23 pm, 1334052
Here's a short activity in testing student understanding at working out fixed, variable, average and marginal costs and then total, average and marginal revenue. Using a 'Smartwatch' case study as the backdrop the activity asks students to calculate costs and revenues and then work out the profit maximisation and sales ...
September 11, 2014, 1:23 pm, 1333370
The transport economists amongst you will be giving considerable thought to the question of tackling road traffic congestion. Iâ€™ve picked up on two stories here because they take contrasting approaches. The first is to use technology and regulation to tackle the problem â€“ the so-called command and control ...