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Full-Text Articles in Social and Behavioral Sciences
What Should We Teach In Intermediate Macroeconomics?, Dean D. Croushore
What Should We Teach In Intermediate Macroeconomics?, Dean D. Croushore
Economics Faculty Publications
The major focus of a course in Intermediate Macroeconomics is building and understanding macroeconomic models and how they work. The course is the most analytical course in the curriculum and should lead students to embark on deep thinking about models and equilibrium. Students learn the essentials of a model and develop the concept of how to simplify a model to understand key concepts. Once the core of a model is developed, additional model features can be added to increase realism. Perhaps the most important macroeconomic concept in the course is that of general equilibrium—students learn to go beyond examining initial …
Teaching Courses In Macroeconomics And Monetary Policy With Bloomberg Analytics, Dean D. Croushore, Hossein S. Kazemi
Teaching Courses In Macroeconomics And Monetary Policy With Bloomberg Analytics, Dean D. Croushore, Hossein S. Kazemi
Economics Faculty Publications
In this article, the authors illustrate the use of Bloomberg for analyzing topics in macroeconomics and monetary policy in economics and finance courses. The hands-on experience that students gain from such a course has many benefits, including deeper learning and clearer understanding of data. The authors describe goals and learning objectives, then compare Bloomberg with Federal Reserve Economic Data (FRED). In addition, they provide examples of how to use Bloomberg in the classroom, describe how to have students perform sector analysis, show how Bloomberg tools are useful for analyzing monetary policy, discuss how to use Bloomberg to analyze the financial …
Sustainability In The Curriculum And Teaching Of Economics: Transforming Introductory Macroeconomics, Madhavi Venkatesan
Sustainability In The Curriculum And Teaching Of Economics: Transforming Introductory Macroeconomics, Madhavi Venkatesan
Economics Faculty Publications
Present models of economic growth primarily focus on the role of expenditures as captured in the commonly cited economic indicator, gross domestic product (GDP), where GDP is defined as the sum of final goods and services sold within a country’s natural borders. Noting that a country’s expenditures are referred to as “aggregate expenditures” and that the majority of spending is specific to consumption or consumer spending, especially in the United States where this spending category is nearly two-thirds of annual GDP (other expenditure categories for GDP include investment spending, government spending and foreign spending as proxied by net exports), there …
Philadelphia Fed Forecasting Surveys: Their Value For Research, Dean D. Croushore
Philadelphia Fed Forecasting Surveys: Their Value For Research, Dean D. Croushore
Economics Faculty Publications
The Federal Reserve Bank of Philadelphia has conducted both the Survey of Professional Forecasters and the Livingston Survey for 20 years. Both surveys of private-sector forecasters provide researchers, central bankers, news media, and the public with detailed forecasts of major macroeconomic variables. The surveys have proved helpful for people who are planning for the future, and they have also provided useful input into the decisions of policymakers at the Federal Reserve and elsewhere. In this article, Dean Croushore provides an overview of the surveys and discusses the ways in which researchers have used the surveys.
Economic Crisis And Reform In Bulgaria, 1989-92, Jonathan B. Wight, M. Louise Fox
Economic Crisis And Reform In Bulgaria, 1989-92, Jonathan B. Wight, M. Louise Fox
Economics Faculty Publications
Bulgaria's economy began a deep and prolonged collapse in 1989, exactly one hundred years after the noted Bulgarian novelist Ivan Vazov published his stirring novel opposing the tyranny of the Ottomans and warning of the mistaken road of socialism. The 1989 collapse was partially a reflection of the external political upheavals among Bulgaria's trading partners in Eastern Europe, which were rejecting socialist principles. But it was also a reflection of the weaknesses imbedded in the economy after 30 years of central planning. Political instability within Bulgaria, market reforms, and attempts at privatization contributed further to economic uncertainty resulting in a …