Social and Behavioral Sciences Commons^™

Eco 12 Macroeconomics Syllabus, Karen David Prof.

Open Educational Resources

This the syllabus for the RECO 12 Macroeconomics course taught by Prof. David. It is a ZTC course using an OpenStax OER textbook revised by the professor.

Open Syllabus, Dorina Tila

Open Educational Resources

This is an open syllabus for Principles of Macroeconomics course.

Principles Of Financial Management Chapter 1 - 4, Dorina Tila

Open Educational Resources

This work includes a teaching material that could be the embryonic stage of a textbook for a Principles of Financial Management course.

Principles of Financial Management is a course that introduces you to key financial concepts and the application of financial analysis in making sound business decisions. Topics covered are time value of money, risk and rates of return, asset valuation, capital budgeting, and capital structure, and more. At the end of the course, you will gain an understanding of financial assets, financial markets, financial intermediaries, and the banking system. You will also be able to understand financial statements (i.e., …

Intergenerational Transmission Of Occupation In The United States, Swapnil Landge

Publications and Research

This paper explores the persistence of inequality via intergenerational transmission of occupations using the Panel Study of Income Dynamics (PSID) data from 1968 to 2001 of 56,952 unique parent-child pairs. I find that having a father who is in the top and bottom strata† of the socioeconomic professional category has a positive and significant effect on the probability that a son will follow the same professional category as the father, which supports my main hypothesis of persistence of income inequality concerning the transmission of the occupations. The main concern that has been addressed in this paper is that the intangible …

Logic, Co-Ordination And The Envelope Of Our Beliefs, Rohit J. Parikh

Publications and Research

Each of us has a story which we can think of as a set of beliefs, hopefully consistent. We make our decisions in view of our beliefs which may be probabilistic, in the general case, but simple yes or no as in this paper. Our beliefs are our envelope just as the shell of a tortoise is its envelope.

Decision theory - or single agent game theory tells us when to make the best choice in a game of us against nature. But nature has no desire to further or frustrate our efforts. Nature is mysterious but not malign.

Things …

Algorithmic Rationality, Rohit J. Parikh

Publications and Research

The notion of rationality is much discussed by both Economists and Philosophers. Perhaps you are rational if you accept certain axioms of rationality. If you prefer A to B and B to C then you must prefer A to C. Or you can define rationality in terms of the net results of your behavior. We examine a notion of algorithmic rationality. Even animals upwards from the humble tick carry out algorithms. Are they rational? And can we use this theory to define the IQ of animals?

Theory Of Collective Action, Rohit J. Parikh

Publications and Research

Theory predicts that when people pursue their selfish aims then it leads to suboptimal outcomes for society or to the group they belong to. The prisoner's dilemma and the tragedy of the commons are classic examples. In her presidential lecture to the American Political Science Association Elinor Ostrom examined this fact and also noted that in practice people do not always follow the suboptimal strategy. What does she suggest? This document consists of slides I created giving an account of her paper. She had not won the Nobel when she gave this talk but it was conferred on her later.

How Groupy Is A Group?, Rohit J. Parikh

Publications and Research

Various Cooperating Groups

Why and how do they cooperate

Bees

Chinese troops

BLM demonstrators

The reasons are different in the three cases.

1) Bees cooperate because they are all sisters who have thesame DNA. From a purely evolutionary point of view the survival of one is the survival of all.

2) Chinese troops cooperate because they are obeying a single commander.

3) Black lives people cooperate because they have a single goal, and they have communicated to be together at one time and place.

The purpose of this work is to provide a definition of the "amount" of groupiness, revealed …

Exchange Rate Forecast Model: Factor Analysis, Swapnil Landge

Publications and Research

Forecasting the exchange rate using factor analysis, factors based on cross section exchange rates of different economies in terms of trade, would beat random walk model in longer out of sample horizon forecasting. In this research project, we will replicate the NBER working paper Factor Model Forecasts of Exchange Rates” by Charles Engel, Nelson C. Mark & Kenneth D. West (2012) which has used 17 OECD countries exchange rates in getting the potential factors but with extended time period from 1973:1-2021:4. We will report early sample forecasting statistics for a 1987-1998 sample. Results for late samples (1999-2022) were promising, at …

After The Cambridge Controversies: Reflections Old And New, Harvey Gram

Publications and Research

Perfect foresight is a consequence of applying the Pontryagin Maximum Principle to the analysis of an intertemporal general equilibrium. For this reason, the capital theory controversy ended in an intellectual impasse. The critique of mainstream theory largely ignored the perfect foresight entailments of intertemporal equilibrium analysis, while its defenders, with notable exceptions, too often failed to acknowledge this implication of the technique of dynamic programming. From this standpoint, the long debate over the existence or non-existence of an aggregate production function is secondary. This leaves open the theoretical question of how to proceed with an analysis of the actual dynamics …

Relationship Between Intergenerational Mobility (Igm) And Economic Growth: Evidence From Cross-Country Data, Swapnil Landge

Publications and Research

Inequality of opportunity (IGM) is a major cause of inequality of opportunity in many countries. However, the impact of IGM on economic growth has not been fully explored. In this research project, I first replicated and extended the IMF working paper titled IGM, IGM, and Economic Growth’ by Shekhar Aiyar and Christian Ebeke (2019), which explored the relationship between income inequality and economic growth, utilizing various measures of intergenerational mobility, to confirm that the adverse impact of income inequality on growth is more pronounced when IGM is lower. Then, I used the latest Gini dataset (All the Ginis’) compiled by …

Scarcity Or Economic Insecurity? Two Yardsticks For Measuring Capitalism’S Performance, Costas Panayotakis

Publications and Research

This article argues that capitalism’s relationship to economic insecurity is as important for the evaluation of that system as its relationship to scarcity. Critically analyzing the neoclassical and Marxist focus on capitalism’s relationship to scarcity, the article describes how capitalism’s relationship to economic insecurity offers a more cogent elaboration of these traditions’ shared belief that the economic system should serve people. In particular, while critical of the neoclassical portrayal of capitalism as a system using scarce resources efficiently, this paper also argues, against Marxism, that an alternative to capitalism might be preferable even if scarcity is not abolished.

Fast Estimation Of Matrix Exponential Spatial Models, Ye Yang, Osman Doğan, Süleyman Taşpınar

Publications and Research

The matrix exponential spatial specification (MESS) is an alternative to the spatial autoregressive-type (SAR-type) specifications with several attractive properties. The spatial dependence in the MESS-type models is formulated through a matrix exponential term, and the estimation of these models may require the computation of the matrix exponential terms many times in an estimation procedure. In the literature, it is well documented that the computation of the matrix exponential terms can pose challenges in terms of reliability, stability, accuracy, and efficiency. We propose a matrix-vector products approach based on the truncation of Taylor series expansion of the matrix exponential terms for …

Economic And Social Factors Of The Mexican Community In Queens, Robert Utzinger, Jose Higuera Lopez

CUNY Mexican Studies Institute

In this project, we hope to better understand the educational needs of the local Mexican communities across New York. We have used data drawn from the American Community Survey (ACS) public use microsample to see how the community has changed over time. For this study, we have focused on the borough of Queens, New York, with a particular focus on several key factors such as the average individual income levels, education levels, and age. In time, this will be followed up with more detailed reports into aspects of health, poverty, and family characteristics.

Eco-1400 - Money And Banking Syllabus, Cesar Castope

Open Educational Resources

A comprehensive study of the nature of money and monetary standards; the development, structure, and functions of American central banking; commercial banking; non-bank financial intermediaries; investment banking; and financial markets. Federal and State bank regulation and supervision, major monetary theories. Analysis of the impact and major role of the American banking system on the economy. Includes a study of international finance. Successful completion of this course satisfies one Civic Engagement interaction.

Intentional Group Curation Of Information (Open Pedagogy Example), Dorina Tila

Open Educational Resources

This assignment aims at making instruction student-centered where students would participate in the curation of content. Students are asked to explain the various economic topics using the economic terminology and personal experience. For example, in this assignment, the students are split in groups and asked to discuss and identify what their opportunity cost of getting a college degree is. They will discuss all the items that comprise the opportunity cost and the benefits of going to college and share this in real time with everyone else through a google document.

Assignment Learning Outcomes:

• Define and apply the notion of opportunity …

Intentional Individual Curation Of Information (Open Pedagogy Example), Dorina Tila

Open Educational Resources

This assignment aims at making instruction student-centered where students would participate in the curation of content. Using findings from prior conducted research and group discussions, students will present some economic indicators and the performance of the economy of a country of their choice (students self-selects the country to be researched). For example, the student is asked to identify the latest recession experienced by the selected country using the historical real GDP data collected and analyzed in stage two. Having identified the time of the recession, the student is asked to explain what happened to the other economic indicators, such as …

Unintentional Group Curation Of Information (Open Pedagogy Example), Dorina Tila

Open Educational Resources

This assignment aims at making instruction student-centered where students would participate in the curation of content but in an unintentional way. Students participate in classroom games that eventually unravel economic theory and they are unaware that they are doing it. This can be done by running experiments (e.g., double auction, or option to give a fine), collect the information, and sharing it with students. Comparing the results with the findings from the economic theory in textbook or findings in academic articles, will provide students with a better understanding of the material as they would have unintentionally proven or disproven the …

Eco 201: Microeconomics, Cuny School Of Professional Studies

Open Educational Resources

An investigation of the microeconomy as seen through the eyes of the individual consumer and firm. Economic concepts, including profits, employment and resources via supply and demand, elasticity, utility, costs, and market structures are applied to significant contemporary economics problems.

Employment Trends And Poverty Status: Men And Women In The New York City Metro Area Between 2000 And 2017, Sarah Kostecki

Center for Latin American, Caribbean, and Latino Studies

Introduction:

This report examines employment trends and poverty status among men and women aged 25-54 in the New York City metropolitan area. The report assesses the characteristics of these persons, while examining trends and differences in poverty status by sex, race/ethnicity, and across the five largest Latino nationalities.

Methods:

This report uses the American Community Survey PUMS (Public Use Microdata Series) data for all years released by the Census Bureau and reorganized for public use by the Minnesota Population Center, University of Minnesota, IPUMSusa, (https://usa.ipums.org/usa/index.shtml). See Public Use Microdata Series Steven Ruggles, J. Trent Alexander, Katie Genadek, Ronald Goeken, Matthew …

The Case For Public Investment In Higher Pay For New York State Home Care Workers: Estimated Costs And Savings, Isaac Jabola-Carolus, Stephanie Luce, Ruth Milkman

Publications and Research

This report explores one potential solution to the mounting home care labor shortage in New York State: substantially raising wages for the state's home care workers. The analysis presents detailed projections, based on the best available data, of the economic effects of such an intervention, estimating the costs and benefits that would result. We find that public funding to raise home care wages would require significant resources, but those costs would be surpassed by the resulting savings, tax revenues, and economic spillover effects. The net economic gain would total at least $3.7 billion. Lifting wages would also help fill nearly …

O Espaço E O Tempo Do Valor, David Harvey, Artur Renzo

Publications and Research

O artigo discute a lei do valor em Karl Marx como valor em movimento, que se faz valer no espaço e no tempo. Entende-se que o movimento não pode ocorrer no vácuo, sendo necessário abandonar a visão do valor que se move sem estar ancorado em nenhum lugar e passar a enxergá-lo criando geografias de cidades e redes de transportes; formando paisagens agrícolas para a produção de alimentos e matérias-primas; englobando fluxos de pessoas, bens e informações; determinando configurações territoriais de valores fundiários e habilidades de trabalho; organizando espaços de trabalho, estruturas de governo e administração. Conclui-se que há três …

Can Investment Shocks Helps To Explain The Us Business Cycles?, Swapnil Landge

Publications and Research

In this paper, I developed a standard neoclassical growth model to understand the importance of investment shock on business cycle fluctuation. In addition to investment shock, my model includes technology shock too. Using the Simulation-based PEA (Parameterized expectations algorithm) approach, i estimate the Model. The model provides evidence that investment shocks constitute a significant force behind U.S. business cycles. Model in this paper reaffirms the comovement of consumption and investment with output and accurately predicts the Investment to output,capital to output ratio and the labour for the US economy.

Public Debt, Its Impact On Gdp & Crowding Out Effect: Evidence From The Usa, Swapnil Landge

Publications and Research

In this study, we examined the long-term relationship between public debt, GDP, private investment, and interest rates. We found two significant long-term relationships among these variables. First, interest rates are positively correlated with public debt and negatively correlated with GDP. Second, private investment is negatively correlated with public debt and positively correlated with GDP. These findings suggest the presence of a crowding out effect, where public debt limits private investment by increasing interest rates and reducing access to available funds.

Framing Inclusion: The Media Treatment Of Irregular Immigrants' Right To Health Care In Spain, Alisa Petroff, Anahí Viladrich, Sònia Parella

Publications and Research

With the passing of Royal Decree-Law 16/2012, Spain’s national health system switched from a model defined by universal and free health care principles, to a private insurance system that excluded large population groups. Based on a qualitative research design, this paper examines the media treatment of undocumented immigrants’ prerogatives to public health care in Spain (2012–2018). The analysis of 234 articles, drawn from three major Spanish newspapers, reveals three frames that underscore the media’s "rhetorics of inclusion," which argue for the extension of free medical services to irregular immigrants a topic traditionally underestimated by the literature. The moralist frame, supported …

The Cost Effectiveness Of Mental Health Treatment In The Lifetime Of Older Adults With Hiv In New York City: A Markov Approach, Juan J. Delacruz, Mark Brennan-Ing, Andreas Kakolyris, Omar Martinez

Publications and Research

Background

There are noticeable gaps in knowledge regarding the cost and effectiveness of integrated medical and behavioral services for older adults with HIV. Their lifespan is close to the population’s level but their quality of life has sharply declined due to depression and substance use. Mental health disorders are widespread among an aging population with HIV. Objective The aim of this study was to build a decision analytic model to evaluate medical interventions with and without mental health treatment using primary data of 139 older adults with HIV and health outcomes from the literature.

Methods

We tracked the progression of …

Economic Insecurity And Social Stability: An Exploration Of One Of Capitalism’S Vicious Cycles, Costas Panayotakis

Publications and Research

This article analyzes how capitalism’s connection to economic insecurity can, rather than fomenting social unrest, facilitate its reproduction. Also responding to contrasts in the literature between rising insecurity in recent decades and the containment of insecurity in capitalism’s post-war ‘golden age,’ this article explains why growing insecurity is more consistent with capitalism’s normal operation. Underlining the difficulty of replicating post-war efforts to mitigate insecurity through social and welfare policies, this article also sketches how the vicious cycle between capitalism and economic insecurity contributes to other serious social problems, including racism, sexism, xenophobia, the hollowing out of political democracy and a …

Beyond The Capitalist Workplace: How The Production Of Surplus Across The Economy Keeps Producers Divided, Costas Panayotakis

Publications and Research

This article analyzes the public and household sectors of the economy as sites of surplus production within contemporary capitalist societies. It also shows how the coexistence of structurally distinct spheres of surplus production creates divisions among workers in the private, public, and household sectors of the economy, thus amplifying the racial, gender, and other divisions which have often in the past kept working people divided. Fueling these cross-sector divisions is the appearance that private-sector workers are paid for their labor rather than for their labor-power. Thus, this article also explores an implication of this appearance which Karl Marx, the thinker …

Understanding Unemployment Statistics (Activity), Tom Martin

Open Educational Resources

When you see unemployment statics in the news – such as, “unemployment rises to 11%” – are you certain that you are interpreting them correctly? This short activity will help you to understand unemployment statics in all of their nuance and complexity.

The Quest For Greener Pastures: Evaluating The Livelihoods Impacts Of Providing Vegetation Condition Maps To Pastoralists In Eastern Africa, Elia Machado, Helene Purcell, Andrew M. Simons, Stephanie Swinehart

Publications and Research

The survival of millions of pastoral households in Eastern Africa has become increasingly at risk. Due to mounting socioeconomic and climatic stressors, pastoral households are faced with making migration decisions under increasing uncertainty about resource availability and limited coping strategies. We assess the potential of providing vegetation condition maps to support the migration decision of pastoralists in Ethiopia and Tanzania and the effect of map usage on their herd condition and size. The maps were generated from remotely sensed data using the Normalized Difference Vegetation Index (NDVI) as a proxy for vegetation condition and overlain with pastoralists’ preferred grazing areas. …