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Supports: Econ (Chapter 12 – Oligopoly: Firms in Less Competitive Markets (Section 14.2); Essentials: Chapter 11 – Monopolistic Competition and Oligopoly (Section 11.6) Solved Problem: Pricing Video Games In November 2020, an article on bloomberg.com discussed the pricing of video games for consoles like PlayStation and Xbox. The article noted that firms selling video … Continue reading “Solved Problem: Pricing Video Games”
Statement from the Economic Strategy Group Urging Congress to Provide Additional Spending in Response to the Covid-19 Pandemic
The Economic Strategy Group (ESG) is a program for discussing economic policy issues. On November 19, 2020, the ESG released a statement urging Congress to provide additional funding to deal with the Covid-19 pandemic. Glenn Hubbard joined economists from both political parties in signing the statement. You can read the statement HERE.
The O’Brien family dog takes a bite out of the Dismal Science. Hmm. Should I keep playing in the leaves or should I do my MyLab assignment on opportunity cost? Would you please explain the formula for price elasticity one more time? Why did I sign up for an 8 am Econ class? No, Mickey, … Continue reading “Now for Something Completely Different: Mickey Does Econ!”
As we discuss in Chapter 17, there are several complications in accurately measuring changes in the distribution of income over time. First, people will not typically remain in the same place in the income distribution their whole lives. Instead, their incomes are likely to fluctuate, moving them up and down the income distribution. So comparing … Continue reading “Measuring Changes in Income Inequality”
In an opinion column on bloomberg.com, Michael Strain of the American Enterprise Institute argues that Congress should pass another stimulus package to supplement the $1.8 trillion Coronavirus Aid, Relief, and Economic Security Act that Congress passed and President Trump signed into law in March. His proposal would involve an additional $1 trillion in spending. You … Continue reading “Does the U.S. Economy Need Another Government Stimulus Package?”
This post on the Federal Reserve Bank of St. Louis’s Page One blog discusses how the belief that automation can lead to permanent job losses is an example of the “lump of labor” fallacy. Click HERE to read the article. The post refers to the circular-flow diagram, which we discuss in Chapter 2 and in … Continue reading “Does Automation Lead to Permanent Job Losses?”
Attend the Federal Reserve’s session on “Exploring Careers in Economics – Fall 2020” on Wednesday, 11/17/20, at 1:00 PM EST – federalreserve.gov, Twitter, or Facebook Live
Federal Reserve Board and Federal Reserve Education (FRE) will welcome students nationwide via webcast to discuss career opportunities and diversity in economics and to learn about career paths within the Federal Reserve System. Opening Remarks by Governor Lael Brainard, administrative governor of the US Federal Reserve. The event takes place beginning at 1 p.m. ET on Tuesday November … Continue reading “Attend the Federal Reserve’s session on “Exploring Careers in Economics – Fall 2020” on Wednesday, 11/17/20, at 1:00 PM EST – federalreserve.gov, Twitter, or Facebook Live”
NEW! – 11/13/20 Podcast – Authors Glenn Hubbard & Tony O’Brien talk with recent Econ graduates – Fernando Zuniga & Greg Mitchell
Pearson Economics · Hubbard O'Brien Economics Podcast – 11-13-20 – Talking with Recent Econ Grads Authors Glenn Hubbard and Tony O’Brien catch up with two recent Penn State University Economics graduates – Fernando Zuniga & Gregory Mitchell. They discuss their path through their econ courses – what interested them, what they learned, and what’s been … Continue reading “NEW! – 11/13/20 Podcast – Authors Glenn Hubbard & Tony O’Brien talk with recent Econ graduates – Fernando Zuniga & Greg Mitchell”
NEW! – 11/06/20 Podcast – Authors Glenn Hubbard & Tony O’Brien discuss the economic outlook given where the Presidential election stands.
Pearson Economics · Hubbard O'Brien Economics Podcast – 11-06-20 – Assessing the Election Authors Glenn Hubbard and Tony O’Brien look at the economic outlook given the current status of the presidential election. Will a divided government lead to economic prosperity or result in more gridlock? They discuss how much the President actually controls economic policy … Continue reading “NEW! – 11/06/20 Podcast – Authors Glenn Hubbard & Tony O’Brien discuss the economic outlook given where the Presidential election stands.”
10/24/20 Podcast – Authors Glenn Hubbard & Tony O’Brien discuss the economics of issues raised during the Final 2020 Presidential Debate.
Pearson Economics · Pearson Econ Podcast-Intro/Outro Authors Glenn Hubbard and Tony O’Brien discuss the economic impacts of what was discussed in the final Presidental debate on 10/22/20. They discuss wide-ranging topics that were raised in the debate from reopening the economy & schools, decreasing participation of women in the workforce due to COVID, healthcare, environment, … Continue reading “10/24/20 Podcast – Authors Glenn Hubbard & Tony O’Brien discuss the economics of issues raised during the Final 2020 Presidential Debate.”
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