Tuesday, February 28, 2012

Pawn Stars & Economics

Price Points: Part history lesson, part economics, Pawn Stars teaches good value

Monday, February 27, 2012

Good Unemployment Article about Michigan

Michigan's incredible shrinking workforce

I will be using this article to discuss how unemployment is calculated.  

Sunday, February 26, 2012

Unemployment with Abbott & Costello

(Thanks to Carl Herman who posted this on the AP List Serve a couple of weeks back!)

COSTELLO: I want to talk about the unemployment rate.
ABBOTT: Good Subject. Terrible times. It's 9%.
COSTELLO: That many people are out of work?
ABBOTT: No, that's about 20%.
COSTELLO: You just said 9%.
ABBOTT: 9% Unemployed.
COSTELLO: Right, 9% out of work.
ABBOTT: No, that's about 20%.
COSTELLO: Okay, so it's 20% unemployed.
ABBOTT: No, that's 9%...
COSTELLO: WAIT A MINUTE. Is it 9% or 20%?
ABBOTT: 9% are unemployed. 20% are out of work.
COSTELLO: IF you are out of work you are unemployed.
ABBOTT: No, you can't count the "Out of Work" as the unemployed. You have to look for work to be unemployed.
COSTELLO: But they ARE out of work!!!
ABBOTT: No, you miss my point.
COSTELLO: What point?
ABBOTT: Someone who doesn't look for work, can't be counted with those who look for work. It wouldn't be fair.
COSTELLO: To whom?
ABBOTT: The unemployed.
COSTELLO: But they are ALL out of work.
ABBOTT: No, the unemployed are actively looking for work... Those who are out of work stopped looking. They gave up. And, if you give up, you are no longer in the ranks of the unemployed.
COSTELLO: So if you're off the unemployment roles, that would count as less unemployment?
ABBOTT: Unemployment would go down. Absolutely!
COSTELLO: The unemployment just goes down because you don't look for work?
ABBOTT: Absolutely it goes down. That's how you get to 9%. Otherwise, it would be 20%. You don't want to read about 20% unemployment do ya?
COSTELLO: That would be frightening.
ABBOTT: Absolutely.
COSTELLO: Wait, I got a question for you. That means they're two ways to bring down the unemployment number?
ABBOTT: Two ways is correct.
COSTELLO: Unemployment can go down if someone gets a job?
ABBOTT: Correct.
COSTELLO: And unemployment can also go down if you stop looking for a job?
ABBOTT: Bingo.
COSTELLO: So there are two ways to bring unemployment down, and the easier of the two is to just stop looking for work.
ABBOTT: Now you're thinking like a politician.
COSTELLO: I don't even know what I just said!

Saturday, February 25, 2012

Maple Syrup Supply & Demand

Mild winter concerns some maple syrup producers

Friday, February 24, 2012

Thursday, February 23, 2012

Article for Macro Discussion

How Congress is killing the recovery

Principle from Mankiw:  Government can sometimes improve market outcomes.  This would be a good place to start with this article.  (click here to view)

Wednesday, February 22, 2012

Interesting Article on China

Plan B for China's Wealthy: Moving to the U.S., Europe

Tuesday, February 21, 2012

New Solman Video on Kids Returning to the Nest

'Accordion' Families Expand for Boomerang Kids, 'Parasite Singles' to Move Home 

Monday, February 20, 2012

Nightline: Apple Factory

Exclusive: Nightline Goes Inside Apple Factories
Bill Weir goes to China to see how iPads and iPhones get made.

Sunday, February 19, 2012

Gas Prices

Find more gas price cartoons by clicking here.

Saturday, February 18, 2012

Thursday, February 16, 2012

Macro Article on Jobs

Desperately seeking Americans for factory jobs

Wednesday, February 15, 2012

Good Weather and Economics Article

Mild winter may help boost the economy
(click here for the article)

Up here in Fargo-Moorhead we are loving the mild winter.  We may not be able to golf right now but in many other places they are.  LOVE IT!  (you could also discuss who is hurt by a mild winter too)

Tuesday, February 14, 2012

Four Ways to Slice Obama’s 2013 Budget Proposal

This is a pretty cool site for discussing the federal budget.  (click here for the link)

Monday, February 13, 2012

Postal Service Troubles

Postal Service pleads for help as losses continue

The Economics of Valentine's Day

This is a good quick clip on Valentines Day.  Enjoy!

Sunday, February 12, 2012

News on Trade Deficit

Trade deficit widens to $48.8 billion in December
(click here to view article)  

Valentines Day (Supply and Demand)

Heart-shaped pizzas hot for Valentine's Day

Friday, February 10, 2012

Unemployment Rate Discussion Starter

Is the unemployment rate misleading?

Valentines Day Economics

Department Stores Reveal Top Selling Valentine's Gifts

(Click here to view slideshow)

Thursday, February 9, 2012

Wednesday, February 8, 2012

Interesting GDP Article

Report: US casinos generated $125B spending in 2010; economic impact equals 1 percent GDP

Halftime in America! (Conversation Starter from Remy)

Good Economic Indicator Article

Nevada's triple economic whammy

Tuesday, February 7, 2012

Follow up on the Peanut Butter

Here is a news story that appeared last fall from NPR:  (there is a radio clip and article)
Pricier PB&J's In The Forecast, Thanks To Peanut Shortage

(click here to view and listen to the story)

Monday, February 6, 2012

Gas Prices Supply and Demand

Gas prices could spike 60 cents or more by May

Romney: "I'm not concerned about the very poor"

This is an excellent article for creating some class discussion with economics and politics.  Enjoy!
(click here to view article and video clip)

Sunday, February 5, 2012

Superbowl Economics

Party time: Super Bowl spending could hit $11 billion

Saturday, February 4, 2012

Peanut Shortage: Supply and Demand

Here is the sign I saw at the grocery store this afternoon:

This presents a perfect opportunity to have the students graph the changes in the market!