Week Ahead

Hi Students,
I hope you are all finished with your Chapter 3 study questions.  You were to do 1, 2, 3, 4, 5, 7, 8, 9, 11, 13, 14, and 15.  Tomorrow there will be a quiz on production possibilities and absolute and comparative advantage Given that Wednesday is a super short period as well, it will be a good opportunity for another short quiz on Supply and Demand.

Chapter 4 is entitled "The Market System."  This chapter is not as long as the first three we have done, and there are fewer study questions associated with it.  But it is important because we first discuss the concept of private property.  Study questions to do are 1, 2, 3, 6, 7, 8, 10, 11, and 13, and will be due Friday.

Also, the Keynes piece was a rather difficult thing to go through.  So tomorrow I will go over the basics of Keynesian economic theory as compared to classical economic theory.  A good illustration of this is on page 188.  This upcoming week there will not be a paper to read, but rather we will spend some time in-class to listen to Dr. Jeff Sachs of Columbia University's Earth Institute.  We will listen to a speech he gave to the Carnegie Council for Ethics from 2010, and I will bring in my autographed copy of his book, Commonwealth.  I met Dr. Sachs in June 2009 after graduating from the University of San Francisco.  He is a big-time Keynesian and believer in government policy.  He was also instrumental in the formation of the Millennium Development Goals, which are now pillars of global development policy as followed by the United Nation's Development Program (UNDP).  Here is a second speech for you to listen to from the Asia Society with Sachs on US-China climate change cooperation:
http://asiasociety.org/video/policy/jeffrey-sachs-addressing-climate-change-complete

See you tomorrow!