This final is for class 1602 which meets from 4-5:15pm on Tuesdays and Fridays
You are encouraged to use your notes but please turn in your own work rather than work someone else has done with or without their knowledge. Full disclosure: choosing to turn in someone else’s work can result in failure of the course or expulsion from BMCC.
Student Course Evaluations are super helpful to me in terms of building my classes and rehiring. I appreciate all feedback enthusiastic, so-so, or unfavourable. Evaluations must be completed by the end of the day Monday, December 13th. Your responses are anonymous and I will not be able to see them until after I have turned in your final grades. Here is the information I have received about the student evaluations:
We are asking for your assistance again to remind your students to complete the course evaluation survey; the deadline is Monday, December 13th, at 11:59 PM.If you are contacted by a student who has not received their course evaluation survey email, please have them reach out to ins@bmcc.cuny.edu.
On Monday, November 8th, 2021, we emailed students enrolled in your course with the subject line ‘Student Course Evaluations’.We asked them to evaluate the course(s) you are teaching this semester. Subsequent reminder emails were also sent to students who have yet to respond.
Information about the course evaluation survey was provided in the emails. Each student received an individualized link that directs them to their respective course evaluation. Please note that no general link is provided.
November 29 at 5:00 pm – 6:00 pm | Zoom
Join us for a conversation with Dr. Richard D. Wolff, Professor of Economics Emeritus, University of Massachusetts, Amherst. Dr. Wolff will discuss US capitalism’s problems today which include record inequality, economic instability, Covid, inflation, bad jobs, record government, business, and household debts, US political gridlock, and tough global competition. These problems add up to a general crisis of the system. The reaction inside the US – mostly denial – solves nothing. We need solutions such as this: democratize workplaces for a system different from and better than capitalism.
About Richard D. Wolff
Richard D. Wolff is Professor of Economics Emeritus, University of Massachusetts, Amherst, and a Visiting Professor in the Graduate Program in International Affairs of the New School University, NYC. He is the founder of Democracy at Work and host of their nationally syndicated show Economic Update. His latest book, The Sickness is the System: When Capitalism Fails to Save Us from Pandemics or Itself, can be found along with his other books Understanding Socialism and Understanding Marxism at www.democracyatwork.info.
RSVP for this event to receive the Zoom link.
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 Professor Kenneth Levin at klevin@bmcc.cuny.edu or Nina Kravets at bmcceeeclub@gmail.com.
Apologies for the last minute change but today (Thursday, November 11th) I am moving office hours to 12:30-1:30pm. As always, if you want to get a hold of me and cannot come during office hours, please send me an email with some options of times you can meet. Next week, office hours will resume at their regular time, Thursdays 4-5:15pm.
Great News! Recording of the session available below
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.
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.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.
| OPEN LAB SERVICES? Learning Resource Center, 199 Chambers Street, Room S510H TUTORING? https://bmcc.upswing.io WORKSHOPS FOR STUDENTS? Learn new skills or improve the ones you have! |
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One question that frequently comes up for students after reading Kyle Moore’s Phenomenal World piece is, if the mainstream/neoclassical theory is so deeply flawed, why is it the mainstream? The answer isn’t very reassuring but there are also many groups promoting diversity of scholarship and diversity of scholars. In case you are interested in the field but are put off by what we have learned about it so far, here are some resources for you.
Inspired by the first African American economist, Sadie Tanner Mossell Alexander, the Sadie Collective seeks to “address the pipeline and pathway problem of Black Women in economics, finance, data science, and policy.” To read more about Dr. Alexander’s life and times, see the new book by Nina Banks. For a sample, check out this short interview from a few years ago.
Drawing on her work with Cecilia Rouse and supported by the American Economics Association (AEA) Committee on the Status of Minority Groups in the Economics Profession (CSMGEP), Amanda Bayer has compiled this resource about how and why coursework should be diversified. While this resource is primarily for professors, it does have tips for students trying to make their way in Economics and, for the bold, might be worth offering to professors.
The American Society of Hispanic Economists (ASHE) maintains journals, job postings, and funding opportunities relevant to its membership.
The Diversity Initiative for Tenure in Economics (DITE) is a program most relevant for graduates working in academics. It provides mentorships for early career economists from established economists. While it might not be relevant to you just yet, keep this information in your back pocket in case you choose this path and, if you are considering it, might be worth contacting some of the people involved to get their perspective.
This review of by a white male economist of several books by white male economists does a good job of describing what happened in the realm of economics that has made it so intellectually narrow. This academic inflexibility might explain the pronounced underrepresentation of marginalized groups within the field, as suggested by a white male economist duo, cis and trans.
While methodology is frequently quite run of the mill, the AEA has also recently acknowledged the formation of the Committee on the Status of LGBTQ+ Individuals in the Economics Profession (CSQIEP) who, among other things, loosely maintain this newsletter, named after queer ancestor, John Maynard Keynes, himself.
Additionally, the AEA established in 1971 the Committee on the Status of Women in the Economics Profession (CSWEP). As the aforementioned, it also maintains a fairly mainstream scholarship. By contrast, the International Association for Feminist Economics (IAFFE) engenders a wide range of economic theories and methods.
Diversifying and Decolonizing Economics (D-Econ) is a group of students and professionals embarking upon several initiatives with the following goals:
Following the financial crash of 2008, a number of student groups railed against the mainstream offerings in economics departments world wide. Student groups working together to support their own learning include:
The International Student Initiative for Pluralism in Economics (ISIPE) which generated a motivating, often cited open letter to practitioners, and especially educators, of economics. Their website includes a list to a large network of student groups around the world.
At BMCC, the Economics, Equality, and Environment (EEE) club holds regular meetings and has hosted a number of interesting guest speaker talks. It continues to meet via zoom.
The Young Scholars Initiative (YSI) is an INET sponsored initiative of students and young professionals supporting each other across a wide range of research interests.
Exploring Economics compiles and offers additional learning resources in multiple languages, breaking down several theories of economics.
Please feel free to comment here with any additional resources you’re aware of!
As a reminder, Office hours for this week are happening now (4-5:15pm on Wednesday) rather than their usual time (4-5:15pm Thursday). They will be back to their regular time next week, Thursday October 14th. As always, if you would like to get in touch outside of office hours, please send me an email.
This material is optional if you would like some extra practice on math concepts we will go over in class.
Khan Academy is a free resource although you may be required to create an account.
To see the classes I suggest, please visit the assignments I have selected here: https://www.khanacademy.org/join/AMKGDJ32
OR
visit www.khanacademy.org/join and enter your class code AMKGDJ32.
There is no need to complete everything (or anything). This is just a collection of relevant assignments if you would like to review outside of class. Please know BMCC also offers tutors if you feel you need additional or different help.
Over the course of the semester, students will be responsible for presenting a summary of the assigned course materials twice. Please click here for more instructions on this assignment.
See your assigned weeks below. Please remember Reading Summaries happen first thing on Tuesdays so please make sure you are in class on time OR have left your Reading Summary as a comment BEFORE class starts. Remember, you will do this twice so look for your name in two places — let me know right away if you notice you’re not there!
| week | Date | topic | Assigned |
| WEEK 5 | T 09/21 | Economic Well-being | Vivian, Yessenia |
| WEEK 6 | T 09/28 | Employment | Andri, Ivy, Yuval, |
| WEEK 7 | T 10/05 | Consumption & Savings | Adrian N., Basil, Daneisha |
| WEEK 8 | T 10/12 | International Trade | Andri, Adrian N., Elian, D’alessandro, Eric |
| WEEK 9 | T 10/19 | Exchange Rates | Ricky, Minglin, Oscar, Guadalupe |
| WEEK 10 | T 10/26 | Keynesian Cross & Multipliers | Kayla, Oferman, Zhi Fei, Brian |
| WEEK 11 | T 11/02 | Fiscal Policy | Basil, Oscar, Vivian, Yessenia, Camesha |
| WEEK 12 | T 11/09 | Monetary Policy | Daniel, Ivy, Daneisha, Ricky, Zhi Fei |
| WEEK 13 | T 11/16 | Government Budget | Eugon, William, Yuval, Guadalupe, Elian |
| WEEK 14 | T 11/23 | AD & AS Model | Eugon, Minglin, Brian, Jonathan, Camesha, Oferman |
| WEEK 15 | T 11/30 | AD & AS Model | Kayla, D’alessandro, William, Daniel, Eric |
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