Author Archives: Al Eisenbarth

Week 11 – Fiscal Policy

Before Class on Tuesday, 11/02
Read: Lumen Learning “Automatic Stabilizers”
Watch (4:10): Mazzucato (2013) – just from 4:50-9:00
In Class
Slides: Keynesian Cross and Fiscal Policy

Before Class on Friday 11/05
Have done or attempted all of Weekly Review 9
In Class
Amadeo, Kimberly. (2020). “Supply Side Economics with Examples: Does It Work?” The Balance. 27 September. https://www.thebalance.com/supply-side-economics-does-it-work-3305786

Material Links
Lumen Learning. “Automatic Stabilizers” https://courses.lumenlearning.com/wm-macroeconomics/chapter/counterbalancing-recession-and-boom/
Mazzucato, Mariana. (2013). “Government — investor, risk taker, innovator.” TEDglobal. https://www.ted.com/talks/mariana_mazzucato_government_investor_risk_taker_innovator?language=en
(You can watch the whole thing (13:46) if you like, but the only required piece is 4:50-9:00.)

Week 10 – Keynesian Cross

Before Class on Tuesday, 10/26
Read: The Economy, Sections 14.1, 14.2, & 14,3
Watch (9:19): Khan (2013)
In Class
Slides: Keynesian Cross

Before Class on Friday, 10/29
have done or attempted all of Weekly Review 8
In Class
Sequiera, Robbie. (2021). “How stimulus might not be enough to help poor or economy.” The Gainesville Times. 10 March.

Material Links
The CORE Program. (2021). “Unemployment and Fiscal Policy: the transmission of shocks, the multiplier process'” The Economy. https://www.core-econ.org/the-economy/book/text/14.html#141-the-transmission-of-shocks-the-multiplier-process
“The multiplier model” https://www.core-econ.org/the-economy/book/text/14.html#141-the-transmission-of-shocks-the-multiplier-process
“Target household wealth, collateral, and consumption spending,” https://www.core-econ.org/the-economy/book/text/14.html#143-household-target-wealth-collateral-and-consumption-spending
Khan, Sal. (2013) “Keynesian Cross.” Khan Academy. https://www.khanacademy.org/economics-finance-domain/macroeconomics/income-and-expenditure-topic/macroeconomics-the-keynesian-cross/v/keynesian-cross

Economics Seminar: Economics is too important to be left to economists – A Talk with Dr. Jayati Ghosh

Great News! Session recording available below

  Jayati Ghosh

Join us for a conversation with economist Dr. Jayati Ghosh, Professor of Economics at the University of Massachusetts at Amherst. Dr. Ghosh will discuss why too many of the decisions that affect ordinary people’s lives and futures are made by policy makers on the basis of economic theories that are often neither logically consistent nor empirically grounded. Because they are too arcane and abstract to be understood by the general public, policy makers and the mainstream economists who justify such policies get away with it, despite the fact that they can have strong distributive implications that can affect incomes and wealth very differently for different groups. It is important for everyone to be aware of these, and to be able to question the basis of such policies.

RSVP for this event to receive the Zoom link.

About Jayati Ghosh
Dr. Ghosh taught economics at Jawaharlal Nehru University, New Delhi for nearly 35 years, and is currently Professor of Economics at the University of Massachusetts at Amherst, USA. She has authored and/or edited 20 books, most recently “The making of a catastrophe: Covid-19 and the Indian economy”, (Aleph Books forthcoming 2021), published 200 scholarly articles, and received several awards for her research. She has advised governments in India and other countries, including as Member of the National Knowledge Commission of India (2005-09). She is the Executive Secretary of International Development Economics Associates (www.networkideas.org), an international network of heterodox development economists. She has consulted with several international organisations and is member of various boards and commissions, including the UN High Level Advisory Board on Economic and Social Affairs, and the WHO Council on the Economics of Health for All. She writes regularly for popular media like newspapers, journals and blogs.

Recent works

https://www.networkideas.org/news-analysis/2020/08/why-do-we-need-to-transform-economics-and-how-do-we-do-it/

https://www.miamisocialsciences.org/home/j285zg8bzymslrjmxx4t79u2zk6nuy

All BMCC students, faculty and staff are invited to attend.

This talk is sponsored by the BMCC Department of Social Sciences, Human Services, and Criminal Justice, the Economics Program and the Economics, Equality and Environment Student Academic Club. If you have any questions, contact Professor Christine Farias at cfarias@bmcc.cuny.edu or Jesse C. or Nina Kravets at bmcceeeclub@gmail.com.

Week 9 – Exchange Rates

Before Class on Tuesday, 10/19
Read: Lumen Learning “Strengthening and Weakening Currencies”
Watch (07:25): Khan (2021)

Before Class on Friday, 10/22
Have attempted or completed all of Weekly Review 7

Material Links
Khan, Sal. (2021). “Exchange Rate Primer.” AP/College Macroeconomics: Khan Academy. https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/ap-open-economy-international-trade-and-finance
Lumen Learning. “Strengthening and Weakening Currencies” https://courses.lumenlearning.com/wm-macroeconomics/chapter/strengthening-and-weakening-currency/