"X" Macro

~ Macroeconomics ~

I. "Well Begun Is Half Done."     Aristotle

"Economics: Micro Review and Macro Intro"

* READ:
"ECONOMIES, ECONOMICS AND ECONOMISTS"(pages. 1-12), Kit Simmons Taylor, "Human society and The Global Economy".
"The Economist Behind the Curtain", Jared Berstein, "All Together Now: Common Sense for a Fair Economy".
"What We Learn When We Learn Economics", Christopher Hayes, "CommonDreams.org".

* VIEW:
" Candidates Strive to Address Voter Concerns on Economy ", On-Line NewsHour, "pbs.org".
"Congress, White House Hammer out Stimulus Package Details", On-Line NewsHour, "pbs.org".
"Rate Cut, Market Turmoil Add to Unease Over Economy", On-Line NewsHour, "pbs.org".
"The Global Warming Debate, On-Line NewsHour, "pbs.org".
"Green Economics", Paul Ekins, "The Atlas of Green Economics".

* VISIT:
"ECONOMIC INDICATORS", "epi.org".
"COST OF WAR", "costofwar.com".
"Immigration: The Human Cost", "theonion.com.org".

* OPTIONAL:
"Stimulus Gone Bad", Paul Krugman, "nytimes.com"
"College Blues", Tamara Draut, "Tompaine.com"
"Beyond College Debt", Anya Kamenetz, "Tompaine.com"
" US War Costs in Iraq Up: Report", "Reuters"
"War in Iraq Aims a Bullet at the Heart of the Economy", James K. Galbraith, "Los Angeles Times".
"Coming Home from War on the Cheap: Shortchanging the Wounded", Judith Coburn, "CommonDreams.org".
"Global Warming", Union of Concerned Scientists, "ucsusa.org"
"Ergonomics a Women's Issue?", Lisa Girion, "Los Angeles Times"
"Rangel and Jefferson Agreee on a National Service Program", Thom Hartmann, "commondreams.org".

II. "The Invisible Hand" & "The Handshake"

"Economics: Issues Old and New"

* READ:
"THREE GREAT ECONOMISTS", Heilbroner & Thurow, "Economics Explained".
"Taming Global Capitalism Anew", Stiglitz, Lee, Hutton, Galbraith, Faux, Rogers, Andrews and D'Arista, "The Nation".

* VIEW:
"A TABLE OF POLITICAL ECONOMY", Abelda, Gunn, Waller, "Alternative to Economic Orthodoxy".
THE "M > C > ...P... > C* > M* " MODEL , F. Green & B. Sutcliff, "The Profit System".
"THE MERCANTILIST POLICY SYSTEM", Salvatore Schiavo-Campo, "International Economics".

* VISIT:
"CONFESSION OF AN ECONOMIC HIT MAN", Video Interview, "DemocracyNow.org"
"LOW WAGE-WORK" , Beth Shulman, "Fainess Initiate on Low-Wage Work".
"A Days Work" KPBS 'NewsHour' Video, "pbs.org"

* OPTIONAL:
"The Social Contract", Laurence S. Seidman, "Economic Parables & Policies".
"Ask Dr. Dollar: Radical vs. Liberal Economics", Ellen Frank, "DollarandSense.org".
"A Moral Economy", Fred Block,"The Nation"
"Market Fundamentalism vs. Moral Economy", Fred Block, "Longview Institute".
"Standing Up For Moral Value of Economic Justice", Michael Zweig, "Baltimore Sun".
"The Shock Doctrine: Naomi Klein on the Rise of Disaster Capitalism", Naomi Klein, "DemocracyNow.org".
"Alan Greenspan vs. Naomi Klein on the Iraq War, Bush’s Tax Cuts, Economic Populism, Crony Capitalism and More", Naomi Klein, "DemocracyNow.org".
"Why The Right Loves a Disaster", Naomi Klein, "LA Times".
"Social-Economic Justice", J. Wilson in Ekins & Max-Ned,"Real-Life Economics".
"Freefall in the Free Market", Adianna, "Rockridgenation.org".
"Minimum Wages and the Human Commodity", John Buell, "CommonDreams.org".
"High Wages, Low Wages, and Moraliy", David R. Francis, "Christian Science Monitor".
" The Minimum Wage is the Minimum: A Call for Moral Outrage", Sally Kohn, "CommonDreams.org"
"A Just Minimum Wage", Holley Sklar, "afsc.org"
"Minimum Wage: The Floor Has Holes In It", Zack Z. Smith,"Fort-Worth Star-Telegram".
"Minimum Wage (FAQ)", EPI Issue Guide, "Economic Policy Institute".
"Minimum Wage Raise Is Good For Business", Holly Sklar,"Commondreams.org"

III. "How Are We Doing?"

"GDP, Employment, and Prices"
    [ H & O: Chapters 19 & 20 ]

* READ:
"WHAT'S WRONG WITH THE GDP?" , "Redefining Progress. org".
"OUR THREE-DECADE RECESSION" , "LA Times".
"THE 'THING' ECONOMY AND THE 'CARE' ECONOMY", Fred Block, "Alternet.org".

* VIEW:
"LAYOFFS CAUSE SELF ESTEEM PROBLEMS, AUTHOR FINDS", KPBS "NewsHour" Video, "pbs.org"
"CONSUMER PRICE INDEX REPORTS UNEXPECTED INFLATION RISE", KPBS 'NewsHour' Video, "pbs.org"
"Job Threat", KPBS 'NewsHour' Video, "pbs.org"
"Disappearing Dropouts" KPBS 'NewsHour' Video, "pbs.org"

* VISIT:
"ECONOMIC NETWORK", "Yardeni.com"
"ECONOMAGIC",   "Economagic.com"
"U.S. ECONOMIC ACCOUNTS", "Bureau of Economic Analysis"
"CURRENT ECONOMIC DATA",   "MartinCapital.com"
"ECONOMIC STATISTICS",   "Whitehouse.gov".
"ECONOMIC INDICATORS", CEA, Joint Economic Committee.
"DATA LIBRARY", "FreeLunch.com"
"The Levy Institute Measure of Economic Well-Being (LIMEW)", The Levy Economic Institute, "levy.org".
"Is Recession in the Numbers? NBER Members Weigh In", "WSJ Online"
"Redefining Progress", "Redefining Progress.org"

* OPTIONAL:
"Why Working Women Are Stuck in the 1950s", Ruth Rosen, "Alternet.org".
" Real Wages Fail to Match a Rise in Productivity", New York Times, "CommonDreams.org"
"The Incredible Shrinking Middle Class",John Balzar, "Los Angeles Times".
"Nearly 36 Million Americans Living in Poverty", "Reuters".
"Living in the Fringe Economy", Howard Karger, "Dollars and Sense".
"Ford and GM Devastate Workers By Slashing Jobs And Closing Plants", Video, "DemocracyNow.org".
"If America is Richer, Why Are its Families So Much Less Secure?", Peter G.Gosselin, "Los Angeles Times".
"The Poor Have More Things Today- Including Wild Income Swings", Peter G.Gosselin, "Los Angeles Times".
"How Just a Handful of Setbacks Sent the Ryans Tumbling Out of Prosperity", Peter G.Gosselin, "Los Angeles Times".
"The Source of the Statistics and How They Were Analyzed", Peter G.Gosselin, "Los Angeles Times".
"Plight Deepens for Black Men, Studies Warn", Erik Eckholm, "The New York Times".
"Slow Wage Growth but Soaring Profits in the Current Recovery", John Miller, "DollarandSense.org".
"Workers' Saftey Net Is Full of Loopholes", Steve Lopez, "Los Angeles Times".
"A Paradox of Progress: Stepped-Up Stress", Gregg Easterbrook, "Los Angeles Times".
"Econmy's Growing, but Where Are the New Jobs?", Nicholas Riccardi, "Los Angeles Times".
"Long-Term Jobless Find a Degree Just Isn't Working", Nicholas Riccardi, "Los Angeles Times".
"U.S. Economy Leaving Record Numbers In Severe Poverty", Tony Pugh, "McClatchy Newspapers".
Green-Collar Jobs for Urban America", V. Jones & Ben Wyskida, "Alternet.org".
"Slicing Up At The Long Barbeque: Who Gorges, Who Serves, and Who Gets Roaasted?",James M.Cypher, "Dollarsndsense. org".
"Productivity: Is The Boom Over?", John Miller, "inthesetimes.com".
"Child Labor Exposed ......", "The National Labor Committee".
"Hustling Backwards - How the Economy Fails the Working Poor", Bob Burnett, "CommonDreams.org".
"What Numbers Aren't Saying About the Economy Most live In", Pierre Tristam, "Datona Beach News-Journal".
"Rich Man, Poor Man: Hungry Children in America", Cesar Chelala, "Seattle Times".

IV. "A Very Special Variable"

"Economics: Profit, Wages, Interest, and Rent"

* READ:
"HOW LOW-WAGE JOBS DAMAGE US All", Beth Shulman, "The Betrayal Of Work".
"The Role of Profit in the Leading Indicator System", Norman Frumkin, "Tracking America's Economy".

* VIEW:
"Is the ultimate capitalist, Bill Gates, becoming a socialist?", Networkorld.com"
"Profits & Principles", KPBS 'NewsHour' Video, "pbs.org"
"WEALTH & DEMOCRACY", KPBS 'NewsHour' Video, "pbs.org"
"Luxury Fever", KPBS 'NewsHour' Video, "pbs.org"

* VISIT:
"The Economic Costs of Poverty", "The Center for American Progress".
"INCOME INEQUALITY","Center for Budget and Policy Priorities".
"THE BBs OF WEALTH","United For A Fair Economy".
"CEO PAY CHARTS","United For A Fair Economy".
"INEQUALITY MATTERS", "inequality.org"
"WEALTH AND INEQUALITY IN THE USA", Multinational Monitor

* OPTIONAL:
"A Model of Profit", The Levy Economic Institute, "levy.org".
"Markets: Guided by an Invisivible Hand or Foot?", Robin Hahnel, "The ABCs of Political Economy: A Modern Approach".
"The Three Efficiencies", Robert Kuttner, "Everything For Sale".
"Socialism as it was Always Meant to Be", Michael Albert & Robin Hahnel, "The Participatory Economics Project".
"Wealth & Inequality By the Numbers", United for a Fair Economy, "DollarsandSense.org".
"Boom Time for Billionaires", "CommonDreams.org".
"Divided Decade:...", Collins, Hartman, Sklar, "United for a Fair Economy".
" The Cavernous Divide: More Billionaires, More Poverty", Scott Klinger, "CommonDreams.org".
"About Economics", "economics.about.com".
"Essential Principle of Economics", William King Website.
"Community Investment", KPBS NewsHour' Video, "pbs.org".
"Good Business Deeds", KPBS 'NewsHour' Video, "pbs.org".
"Our Unlimitted Pie" , Orley Amos, "A Pedestrian's Guide to the Economy".
"A Perfect Picture of Profit", Orley Amos, "A Pedestrian's Guide to the Economy".

V. "Maps & Models"

"Economic Growth & Economic Fluctuations"
                  [ H & O: Chapters 21 - 23 ]

* READ:
"THE KEYNESIAN REVOLUTION", Kit Sims Taylor, "Human Society and the Global Economy".
"Keynesianism: What it is and why it still matters.", Thomas Palley, "thomaspalley.com".
"Back to Basics: Progressive Economics for the 21st Century", Thomas Palley, "thomaspalley.com".
"From Keynesianism to Neoliberalism: Shifting Paradigms in Economics", Thomas Palley, "thomaspalley.com".
"Breaking the Neoclasssical Monopoly in Economics", Thomas Palley, "thomaspalley.com".

* VIEW:
"MACROECONOMICS THROUGH TIME", James K. Galbraith & W. Darity Jr., "Macroeconomics".
THE 'KEYNESIAN THEORY', J. Neilis & D. Parker, "The Essence of the Economy".
THE "INJECTIONS & LEAKAGES" MODEL, J. Neilis & D. Parker, "The Essence of the Economy".

* VISIT:      "Animation Library"
The Big Picture, J.B. DeLong, "Animations Library".
The Expenditure Side, J.B. DeLong, "Animations Library".
The Income Side, J.B. DeLong, "Animations Library".
Consumption Expenditure, J.B. DeLong, "Animations Library".
Expenditure & Output Diagram, J.B. DeLong, "Animations Library".
The Multiplier, J.B. DeLong, "Animations Library".
The Multiplier Process, J.B. DeLong, "Animations Library".
The Multiplier & The Marginal Propensity to Consume, J.B. DeLong, "Animations Library".
Case I: An Investment Boom, J.B. DeLong, "Animations Library".
Case II: A Collapse in Durable Spending, J.B. DeLong, "Animations Library".

* OPTIONAL:
"Capitalism's Crises and Critics", Kit Sims Taylor, "Human Society and the Global Economy".
"The Role of Ideology", R. Carson, W. Thomas, and J. Hecht, "Economic Issues Today: Alternative Approaches"
"The Study of Economics and Economists", Raymond Franklin, "American Capitalism:Two Visions"
"Karl Marx's Historical Method", Ronald Meek, "Economics and Ideology".
"Classical Liberalism", E. K. Hunt, "Property and Prophets".
"A Guide to Conservative Economics", Rob Weiss, "Progressive Nation".
"Alternative Economic Philosophies", Carson, Thomas and Hecht, "Economic Issues Today".
"Looking Over Our Shoulder ... Origins of the Modern Economy...", Robert Carson, "What Economists Know...".
"Economic Models", Gary Evans, "Macroeconomics".
"Aggregate Supply & Aggregate Demand" Model, Gary Evans, "Macroeconomics".
"The Supply Side", St. Louis Federal Reserve, "Economic Review".
"Our Circular World", Orley Amos, "amosweb.com".

--- { Midterm Exam ~April 1st~ } --- --- { "REVIEW QUESTIONS", } ---

VI. "Money, Money, Money,.."

Money & The Financial System
[ H & 0: Chapter 25 ]

* READ:
"MANAGING CREDIT-MONEY", Robert Guttmann, "Reforming Money and Finance".

* VIEW:
"In Debt We Trust: America Before the Bubble Burst", Danny Schechter ,"DemocracyNow.org"
"Subprime Lending Crisis: Millions of Families Face Losing Their Homes to Foreclosure", Keith Ernst, "DemocracyNow.org"
"Dealing With Debt", KPBS Video, "pbs.org"
"Payday Lending", KPBS 'NewsHour' Video, "pbs.org"

* VISIT:
"FEDSTATS", "fedstats.gov.com".
"REAL ESTATE ROLLER COASTER", Richard Hodge, "speculativebubble.com".
"ECONOMIC INDICATORS (By the Numbers)", , "www.newyorkfed.org".
"FOMC ALERT", Financial Markets Center, "fmcenter.org".
"THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM", The Federal Reserve.
"THE '12' FEDERAL RESERVE DISTRICTS", The Federal Reserve.
"FED 101", The Federal Reserve.
"How The Fed Works", "money.howstuffworks.com".

* OPTIONAL:
"Comment on Marx's Theory of Money and Alienation", "Economics.about.com".
"The Myth of the Risky Sub-Prime Borrower", Mark Winston Griffith, "Alternet.org".
"Privatizing and Profiteering", Robert Kuttner, "The Boston Globe".
"Attack of the Mortgage Vultures", Matthew Rothschild, "The Progressive".
"Lenders Sought Edge Against U.S. in Student Loans", J. Glater & K. Arenson, "New york Times"
"Overselling Capitlism with Consumerism", Benjamin Barber, "Baltimore Sun"
"The Loanable Funds Model", Gary Evans, "Introduction to Macroeconomics".
"Interest", George P. Brockway, "The End of Economic Man".
"Banks and Rates", Stephen Rousseas, "Post Keynesian Monetary Economics".
"Speculation & The Stock Market", George P. Brockway,"The End of Economic Man".
"How The Bond Market Works", Olivar Blanchard, "Macroeconomics".
"Bonds: Prices & Rates", Frederick Mishkin,"The Economics of Money, Banking, ...".

VII. The"ABCs" of Stabilization Policy

The "AD/AS Model", Monetary Policy, & Fiscal Policy
          [ H & O: Chapters 24, 26 & 27 ]

* READ:
THE "AD & AS" MODEL, Robert Carson, "What Economists Know...".

A. Monetary Policy

* READ:
"THE FEDERAL RESERVE AND THE CONTROL OF MOMEY", James K. Galbraith & W. Darity Jr., "Macroeconomics".

* VIEW:
"THE END OF AN ERA", KPBS 'NewsHour' Video, "pbs.org"
"DECONSTRUCTING BERNANKE", KPBS 'NewsHour' Video, "pbs.org"

* VISIT:
"THE FEDERAL RESERVE SYSTEM: PURPOSES & FUNCTIONS", Board of Governors, The Federal Reserve System.

* OPTIONAL:
"The Questionable Legacy of Alan Greenspan", Thomas Palley, "Challenge".
"Alan Greenspan: The One-Eyed King", William Grieder, "The Nation".
"Bernanke's Dilemma",William Greider, "Dollars & Sense".
"The Money Supply", The Federal Reserve.

B. Fiscal Policy

* READ:
"THE BUSH BUDGET DEFICIT DEATH SPIRAL", Robert Freeman, "CommonDreams.org".

* VIEW:
"REMEMBERING J. K. GALBRAITH", KPBS 'NewsHour' Video, "pbs.org"

* VISIT:
"THE 2006 FEDERAL BUDGET", Center on Budget and Policy Prioities, "cbpp.org".
"FEDERAL BUDGET SIMULATION", Center for Community Economic Research, UC-Berkeley.
"A Citizen's Guide to the Federal Budget", Department of Management and Budget.
"A Guide to the Gov't Securities Market", Businesss Week.

* OPTIONAL:
"Will Bush’s Stimulus Package Work? It Depends on Who You Ask",, Naomi Prins , "Women's International Perspective".
"Big Rate Cuts and Fiscal Stimulus Trump Conservative Ideology ",, Mark Weisbrot "AlterNet.org"
"Desperately Seeking Stimulus", Dean Baker "Truthout.org"
"The Case For An Environmentally Sustainable Jobs Program", The Levy Economic Institute, "Levy.org."
"Overview of the .... Social Security Plan", Center on Budget and Policy Priorities, "cbpp.org".
"Progressive Taxation: Some Hidden Truths", George Lakoff and Bruce Budne, "buzzflash.com".
"The Big Fix: The Case For Public Spending", Jame s K. Galbraith, The Levy Institute, "Levy.org"
"Monetary Policy Targets", Frederick Mishkin, "The Economics of Money,....".
"Old Attempts & New Ideas", James K. Galbraith & W. Darity Jr., "Macroeconomics".
. "Introduction to Business Cycles", Gary Evans "Macroeconomics".

VIII. "The Natural Rate" & "The Speed Limit"

"Inflation, Unemployment and Policy"
      [ H & O: Chapter 28 ]
* READ:
"A BRIEF PRIMER ON INFLATION", B. Bluestone & B. Harrison,"Growing Prosperity".

* VIEW:
"INFLATION CALCULATOR", Bureau of Labor Statistics.

* VISIT:       "Animation Library"
"The Phillips Curve: 1960-Present", J.B. DeLong, "Animations Library".
"What is the Phillips Curve?", J.B. DeLong, "Animations Library".
"The 'Steep' Phillips Curve", J.B. DeLong, "Animations Library".
"The 'Shallow' Phillips Curve", J.B. DeLong, "Animations Library".
"Expectations and The Natural Rate", J.B. DeLong, "Animations Library".
"The Delimma of Stagflation", J.B. DeLong, "Animations Library".

* OPTIONAL:
"Ego Inflation", James K. Galbraith, "MotherJones.com".
"The Spector of inflation", R. Heilbroner & Lester Thurow, "Economics Explained".
"The Fear of Unemployment", George Brockway, "Economists Can Be Bad for Your Health".
"Inflation", George Brockway, "Economists Can Be Bad for Your Health".

IX. "Growth & Our Global Economy"

International Eonomy, Exchange Rates, .....
     [ H & O Chapters 29 & 30 ]

* READ:
"WALL STREET MOVES MAIN STREET", Burton G.Malkiel, "Wall Street Journal".

* VIEW:
"GROWING GAP" (12-14-04), KPBS 'NewsHour' Video "pbs.org"
"Falling Dollar" (12-2-04) , KPBS 'NewsHour' Video, "pbs.org"
"Falling Dollar II" (4-19-2004), KPBS 'NewsHour' Video, "pbs.org"
"Falling Dollar III" (5-27-03), KPBS 'NewsHour' Video, "pbs.org"

* VISIT:
"Exchange Rates", "x-rates.com"
"The American Growth Record", J.B. DeLong, "Animations Library".

* OPTIONAL:
"Global Warming", Union of Concerned Scientists, "ucsusa.org"
"Global Economy 101", "GlobalExchange.com"
"The Falling Dollar", John Miller, "inthesetimes.com".
"Dollar Anxiety", John Miller, "dollarsandsense.org".
"What Kind of Economy?", James Galbraith, "CommonDreams.org".
"The Wall Street Model", B.Bluestone & B. Harrison, "Growing Prosperity".
"The Main Street Model", B.Bluestone & B. Harrison, "Growing Prosperity".
"Free, Free at Last", John Miller, "dollarsandsense.org".
"The Economics and Politics of Trade Deficits", Thomas Palley, "thomaspalley.com".
"Where Do U.S. Dollars Go When The U.S. Runs A Trade Deficit?", Ellen Frank, "dollarsandsense.org".
"U.S. Should Form a Marshall Plan for Latin America", Andrew Reding, "Los Angeles Times".
"Globalization Is Doing a World of Good for U.S.", James Flanigan, "Los Angeles Times".
"Benefit Burden Puts GM in Slow Lane", John O'Dell, "Los Angeles Times".
"Many Unhappy Returns", Paul Krugman, "New York Times".
"Dollar's Decline Will Reverberate", David Streifeld, "Los Angeles Times".
"U.S. Is More Customer Than Big Global Debtor", James Flanigan, "Los Angeles Times".
Readings From Howard Zinn's "Voices of a People's History of the United States", DemocracyNow.com
"Bush Erasing FDR's Legacy While Waging Class Warfare", Floyd J. McKay, "Seatle Times".
"FDR's 'Forgoten Man' at Risk", Johathan Alter, "Los Angeles Times".
"A Society That Throws the Sick Away", Barrbra Ehrenreich, "Los Angeles Times".
"Democratizing the Global Economy", "Global Exchange".

--- { The 'Final' (In Class) Exam : May 20th, Tuesday, 8:00-10:00} --- --- { "REVIEW QUESTIONS", } ---