Dr. Holtz-Eakin received his B.A. Chief Economist for the U.S. Department of Commerce, 1976–1977. This video explains the concept of supply. Previously, he served as an Assistant Professor for the Air Force Institute of Technology at Wright-Patterson Air Force Base. from Oberlin College and Ph.D. in Economics from Brown University. Dr. De la Calle received his Ph.D. in Economics from the University of Virginia. His writings exposed the beginnings of a federal spending spree that was pushing federal spending to dangerous limits; his budget research has been featured in front-page stories and editorials in the New York Times, the Wall Street Journal, the Washington Post, and the Los Angeles Times. Senior fellow at the American Enterprise Institute and Chairman of the Council of Economic Advisers under presidents Richard Nixon and Gerald Ford. He fought for increased transparency in banking, an inquiry into Watergate, and strategies to check President Ronald Reagan’s economic polices. 24. from the University of Oxford. Big Picture TV. He also held several positions in the Board’s Division of Research and Statistics, including Associate Director and Chief of Capital Markets. The Banking System These stories discuss the ideas of J.M. As adviser to President Johnson, he convinced the president to adopt a major economic initiative—the “War on Poverty.” But he resigned when Johnson escalated the Vietnam War without raising taxes, thus setting the stage for an inflationary spiral. from San Jose State College and J.D. He began his career as a teenage worker in a machine shop, then became a skilled metal finisher in a Chrysler DeSoto factory where he joined the UAW and was twice fired for his union beliefs and activities. Stagflation Formerly, he managed a local environmental group in the San Juan Islands of Washington State, worked at The Wilderness Society, and was involved in the enactment of the Eastern Wilderness Areas Act (1975), The Endangered American Wilderness Act (1978), the Frank Church-River of No Return Wilderness (Idaho, 1980), the Alaska National Interest Lands Conservation Act (1980), and the California Desert Protection Act. 14. Government subsidies later allowed for corporate ownership of a majority of farmers. in Economics from the University of North Carolina and Ph.D. in Economics from George Washington University. These stories highlight two important factors for economic growth: capital per worker (a.k.a. Economics USA: Federal Deficits Audio Transcript In the area of domestic finance, he initiated the auctioning of Treasury bonds, an approach that has become customary in the United States and many other countries. In July, 1944 world economic leaders met in Bretton Woods, NH for a “new world economic order” and soon the dollar became the new standard. from Middlebury College, M.A. Co-Director of the Center on Children and Families at the Brookings Institution and Senior Advisor to President George W. Bush for Welfare Policy. Influential American economist of the 1960s and Chairman of President John F. Kennedy’s Council of Economic Advisers, 1961–1964. Author. World War II saw an unprecedented period of economic growth. These stories show problems posed by the development of inflation in the post-war U.S. economy. These stories illuminate factors that determine the quantity of goods demanded by consumers and the factors that determine the quantity of goods supplied. The return of U.S. troops from overseas following World War II created a massive demand for cheap housing. Dr. Stein received his B.A. Computer engineer and Co-Founder of Apple Computer, Inc., where his inventions and machines contributed significantly to the personal computer revolution of the 1970s; he created the Apple I and Apple II computers. In 2002, he was appointed as a member of the Federal Reserve Board, where he served until becoming Chairman of the President’s Council of Economic Advisers, 2005–2006. Economist who regarded himself as a social theorist, integrating disciplines of history, economics, and philosophy. In 1995, he joined Lehman Brothers Holdings, Inc., serving as Chairman of the Finance Committee before the firm went bankrupt in 2008. from the University of Michigan, and Ph.D. in Economics from Columbia University. Subsequently, he was acting Director of the Federal Bureau of Investigation and Deputy Attorney General of the United States, and he served a second term as EPA Administrator, 1983-1985. His published works include American Vistas, Cities in American History, and Crabgrass Frontier: The Suburbanization of the United States.Dr. Dr. Schlesinger received his B.A., M.A., and Ph.D. in Economics at Harvard University. Economic Schools of Thought: Crash Course Economics #14 Recession, Hyperinflation, and Stagflation: Crash Course Econ #13 The 2008 Financial Crisis: Crash Course Economics #12 Learn what inflation is, what causes it, how it is measured, and the Federal Reserve’s goal for the inflation rate in this video. from Tufts University, and Ph.D. in Economics from Columbia University. Prior to assuming his current position at Brookings, he served as Deputy Director for the Council on Wage and Price Stability. from Williams College and a Ph.D. in Economics from the University of Chicago. Winner of the 1976 Nobel Prize in Economics for “his achievements in the field of consumption analysis, monetary history, and theory, and for his demonstration of the complexity of stabilization policy.” From his lifetime base at the University of Chicago, he did trailblazing work on price theory—the theory that explains how prices are determined in individual markets—and “monetarism.” He defied Keynes and most of the academic establishment of the time, resurrecting the quantity theory of money—the idea that the price level depends on the money supply. In this video, we introduce the field of economics using quotes from the person that many consider to be the "father" of economics: Adam Smith. from Princeton University and M.A. He began his academic career as an instructor at Tufts University. He is Founder and Chairman of Laffer Associates, an economic research firm that provides global investment services, and was also Founder of the Congressional Policy Advisory Board that helped shape legislative policies for the 105th-107th U.S. Congresses. Gross National Product (GNP), the nation’s total output of goods and services. Equilibrium She has taught economic accounting, most recently at George Washington University. He has also been a Director of the Federal Home Loan Mortgage Corp. and Freddie Mac. Economist and lawyer who drafted major pieces of New Deal legislation and served as head of the Council of Economic Advisers under President Harry S. Truman. This website for Economics U$A: 21st Century Edition integrates elements from the Annenberg Learner telecourse in an easy-to-navigate interactive environment, helping to advance knowledge of micro and macro economic principles for college students and high school students, teachers and administrators. In the 1970s, the “trigger/price mechanism” was developed in order to differentiate between fair and unfair trade practices. He attended Capitol Page School in Washington, D.C., and was a page in the House of Representatives from 1938 to 1943, prior to his service in the U.S. Army during World War II. Dr. Carson received her B.A. This 28-part series, accompanied by a textbook, faculty guide, student guide, and audiocassettes, offered distance learners an opportunity to gain college credit for an introductory course in micro and macro economic principles — via television. The unemployment rate is one of the most important pieces of economic data that economists study. Economics USA: Inflation Audio Transcript, Unit 20 A video instructional series on micro- and macroeconomics for college and high school classrooms and adult learners; 28 half-hour video programs; 28 audio programs; and website. Chairman of the Board of Governors of the Federal Reserve System, 1979–1987, credited with leadership in ending a period of high and rising inflation and restoring a base for sustained growth. U.S. He also spent time at the Organization for Economic Co-operation and Development, and in the early 1990s worked at the Center for Economic Studies at the U.S. Census Bureau. After retiring from the University of Chicago in 1977, he became a Senior Research Fellow at the Hoover Institution at Stanford University. After the war, he taught at Stanford, where he became Chair of the Department of Economics. Dr. Papadimitriou received his B.A. Prominent attorney involved in many high-profile cases, including United States v. Microsoft, during which Bill Gates said that Boies was “out to destroy Microsoft” but the Washington Monthly called him “a latter-day Clarence Darrow.” He also represented Vice President Al Gore in Bush v. Gore; defended CBS in an action brought by General William Westmoreland; defended Napster when the company was sued for copyright infringement; and is representing filmmaker Michael Moore regarding a Treasury Department investigation into Moore’s trip to Cuba while filming for Sicko. They failed. He has been a member of Time magazine’s board of economists, Chairman of the Economic Advisory Committee of the American Bankers Association, a member of the Board of Directors of the U.S. Chamber of Commerce, and a founding member of the Shadow Open Market Committee. In 2006-2007 a group of investors bet against the US mortgage market. U.S. John Maynard Keynes held that recessions depended on the balance of aggregate demand and aggregate supply. His successor Alan Greenspan used a different tactic in the early 1990s and 2000s: flood the market with liquidity to prevent freezing. Public Goods and Responsibilities She also held positions at the Federal Reserve Bank of New York and the National Planning Association, and as expert for the revision of the United Nations System of National Accounts. from the University of the Pacific and L.L.B. In the late 1970s, Jobs, in association with Apple Co-Founder Steve Wozniak, Mike Markkula, and others, designed, developed, and marketed one of the first commercially successful lines of personal computers, the Apple II series. Economics USA: Productivity Audio Transcript, Unit 24 He was a Keynesian who promoted cuts in the marginal federal income tax rates, which were passed by President Johnson and Congress after Kennedy’s death and credited for boosting the economy. He also served as Research and Education Director for the Amalgamated Meat Cutters Union and for the American Federation of Labor-Congress of Industrial Organizations (AFL-CIO) Industrial Union. But the housing bubble and Great Recession provided it with new and substantial challenges. In 1963, Studebaker closed its plant, unable to increase sales and take advantage of assembly line production. from Georgetown University and Ph.D. in Economics from the University of Maryland. The U.S. auto industry lost a lot of mileage in 1973 with the rise of the more efficient Japanese imports. In 1956, he became Professor of Public Welfare Administration at the University of Michigan, until President John F. Kennedy appointed him Assistant Secretary for Legislation of Health, Education, and Welfare. She is a frequent speaker on topics affecting the financial services industry. Managing Director and founding partner of De la Calle, Madrazo, Mancera, S.C. (CMM), specializing in international trade. Able to assess the overall production to consumption ratio of the U.S., Franklin Roosevelt entered World War II without jeopardizing the basic needs of his citizens. Private Investor, owner of Schultz Investments, Vice Chairman of the Board of Governors of the Federal Reserve System, 1979–1982, and member of the Florida House of Representatives, 1963–1970. He also had a distinguished academic career, beginning at Dartmouth and Amherst Colleges, then at Princeton University where he was twice Chairman of the Department of Economics and served as Acting Director of Princeton’s Woodrow Wilson School of Public and International Affairs. During World War II, he broadcast the fall of Paris to the Germans, then joined the legendary Edward R. Murrow in London, where he reported on the Battle of Britain throughout the war. He served as Assistant Secretary of State under Truman for Economic Affairs, 1946–1952. He worked extensively for CBS News on television in the years following the war, and he became one of the early critics of Senator Joseph McCarthy’s anti-Communism tactics. He has written extensively on issues related to monetary policy and its implementation by the Federal Reserve; his work has been published in volumes issued by the Federal Reserve System, the Bank of England, the Reserve Bank of Australia, the Bank of Japan, the Bank of Korea, the National Bureau of Economic Research, and the Brookings Institution. He later became a Professor of Economics at Yale University, an economic columnist for Newsweek magazine, and a Senior Consultant for the U.S. Treasury Department. It covers both fictional and documentary films. Viewers will get a refresher on the laws of supply and demand before they learn about market equilibrium—the point at which there is no shortage or surplus of a good or service. Keynes and how the theory behind Keynsian economics explained the Great Depression. Linked from the description … Economics USA: Economic Efficiency Video Transcript He was also the health and safety coordinator for Change to Win. from the University of Missouri and Ph.D. in Economics from Yale University. and D.Phil. Economic theory seeks to explain the production and consumption of goods. Farmers lured into producing massive food surpluses for WWI could no longer profit when the war ended and demand plummeted. He taught at Harvard University for many years, taking leaves to serve in the presidential administrations of Franklin D. Roosevelt, Harry S. Truman, John F. Kennedy, and Lyndon B. Johnson. By 1980, a new group of economists called “supply-siders” were calling for government deregulation to spur productivity, amidst great objections from Democrats and some economic experts. The full complement of material includes audio interviews and a coordinated website. He traveled on the Conservation Tour with President John F. Kennedy and was the principal founder of Earth Day. He served as Assistant Secretary of Economic Affairs in the U.S. Department of Commerce, under President John F. Kennedy, and in 1966 President Lyndon B. Johnson appointed him to an eight-year year term on the Board of Governors of the Federal Reserve System, the first African American to serve. Currently he is the President of the American Action Forum and a Commissioner on the Congressionally-chartered Financial Crisis Inquiry Commission. The Freedom to Farm Bill of 1996 gave farmers a little more maneuverability, but for the most part farmers are still held to the fluctuating demand statuses of large competitive firms. ‘We know names and voices,’ said one student. He is a member of the Institute for International Economics and an overseer of TIAA-CREF, the leading private retirement system in the United States. Between his House and Senate terms, he served as Dean of the college’s School of Business Administration. In all investments there are trade-offs and choices. Economics USA: Economic Growth Video Transcript Pulitzer Prize-winning journalist and business and economics columnist for the Washington Post, cited for “his insightful columns that explore the nation’s complex economic ills with masterful clarity.” Earlier, he worked for two newspapers in New Hampshire, then joined U.S. Podcast Economics and Beyond with Rob Johnson, a podcast featuring interviews with some of the world’s most important thinkers, artists, and … 3. He retired as president of EMB in 1981 and in 1982 took up the position of Guest Scholar at the Brookings Institution. He worked at the Federal Communications Commission (FCC) at several intervals from 1949 until 1973, serving as General Counsel and then as Assistant to FCC Chairman Dean Burch. Earlier, he served as a research assistant to United States Circuit Judge Theodore Levin and as Assistant Prosecuting Attorney of Wayne County, Michigan. She lectured in economics at the University of Pittsburgh, where she became the Distinguished Public Service Professor of Economics. Video courtesy of the American Economic Association . Behravesh is the host of the Annenberg series Inside the Global Economy and shares responsibility with Richard Gill as series analyst on this 21st-Century Edition of Economics U$A. In 1933, he attended Keynes’ lectures at Cambridge University, two years before Keynes’ publication of The General Theory of Employment, Interest and Money, the treatise that argued that industrialized economies, then mired in depression, were unlikely to recover on their own but could use government spending and tax cuts to do so. 13. from Denison University and Ph.D. in Economics from Princeton University. At CED, he produced studies of the sources of economic growth and policies to promote growth, published in the landmark 1962 CED report The Sources of Economic Growth in the United States and the Alternatives Before Us. American business magnate, inventor, and Co-Founder and Chief Executive Officer of Apple Computer. WAYNE RASMUSSEN. The goal of this series is to make learning economics interesting and enjoyable. Later, he taught at Harvard University, formed his own consulting company, Brimmer & Co., and in 1997 returned to the Federal Reserve as Vice Chairman. As IHS’s chief economics spokesperson, he is quoted extensively in the media on the outlook for the U.S. and global economies, oil prices, exchange rates, the budget deficit, the trade deficit, globalization, country risk, and emerging markets crises. Distinguished Professor of History at George Washington University and Visiting Professor at Fudan University in China. He oversees the work of more than 400 professionals who cover economic, financial, and political developments in 200 countries in North America, Europe, Asia, Latin America, the Middle East, and Africa. from Radcliffe College and M.A. He also held the Organization of American Historians/American Studies Association residency in Japan and was a specialist abroad for the United States Information Agency in Nigeria and the Republic of Korea. Economics USA: Resources and Scarcity Video Transcript Franklin D. Roosevelt did not generally trust economists, but his increased government spending during WWII proved Keynes’s theories correct. At the Brookings Institution, he applied his growth-accounting methodology in Why Growth Rates Differ and How Japan’s Economy Grew So Fast. Senator Simpson received his B.A. This video uses these three concepts to explain why there is no such thing as a free lunch. Gross Domestic Product from the Woodrow Wilson School of Public and International Affairs. from the City University of New York. In World War II, he won a Bronze Star as an infantryman and after the war served as deputy general counsel for the Marshall Plan. Economics USA: GNP/GDP Video Transcript 1970s America saw a new kind of inflation, based on supply and not demand: “stagflation,” caused by Arab oil embargoes and worldwide crop failures. and Ph.D. in Agricultural Economics from the University of California, Berkeley. This video explains the concept of demand. from the Wharton School at the University of Pennsylvania and L.L.B. Covers a simplified version of the SIR model of epidemics, justifying healthcare expenditure, and flattening the curve. And under Chairman Benjamin Bernanke the Fed has struggled to combat the ravages of the Great Recession in the first decade of the 21st century. from the University of Chicago, and a Ph.D. from Columbia University. The Knickerbocker Bank’s failure led to the Bank Panic of 1907, and ultimately inspired a need for a central bank. He also helped draft the 1961 Indiana Air Pollution Control Act, the state’s first attempt to reduce that problem. Governor of the Bank of Israel and former U.S. adviser to Israel’s economic stabilization program. Previously, he was the Assistant Attorney General in charge of the Civil Division for the U.S. Department of Justice, Deputy Attorney General of Indiana, and Counsel to the Indiana Stream Pollution Control Board, where he obtained court orders prohibiting industries and municipalities from polluting of the state’s water supply. Economist and expert on the works of 20th-century economist Hyman P. Minsky, whose alternative theories for why the U.S. economy has periodic booms and busts have gained 21st-century recognition. Economics USA: The Great Depression and the Keynesian Revolution Audio Transcript, Unit 18 He developed the first “voluntary” wage-price guidelines and was one of the first to emphasize that tax deductions and tax preferences narrowed the income tax base. In 2009, rookie pitcher phenomenon Stephen Strasburg signed the largest rookie contract in baseball history. He is a member of the Institute of Medicine, the American Academy of Arts and Sciences, the Advisory Committee of the Stanford Institute for Economic Policy Research, and the Visiting Committee of the Harvard Medical School, and he serves on the Board of Directors of Abt Associates and the Center on Budget and Policy Priorities. Earlier, he did research at the Child Development Center at the University of North Carolina (UNC), Chapel Hill; taught history and education at UNC, Charlotte; and taught developmental psychology at Duke University. For 26 years preceding the creation of his company, he was Managing Director for Salomon Brothers, Inc., where he made a name for himself predicting the rise and fall of bond prices. and Ph.D. in Economics from Harvard University. from the University of California at Berkeley, M.A. and Ph.D. in Economics from Harvard University. These stories show how a well-functioning free market pricing system determines how producers manufacture goods, what they will pay, what goods will be manufactured, and for whom the goods will be produced. from Washington and Lee University. Economic Growth Jordache designer jeans used creative advertising to create a demand for blue jeans. from Columbia University and L.L.B. Economics USA: The Federal Reserve Audio Transcript, Unit 22 Mr. Brock received his B.A. Economics USA: Economic Growth Audio Transcript, Unit 13 See how economic principles affect choices. He now owns and manages a radio station in Rehoboth Beach, Delaware. Partner/Publisher at PrintPOD Inc., which uses the Internet and print-on-demand distribution to further the development of desktop publishing. Economics USA: Markets Audio Transcript, Unit 2  Before and after government service, he taught at the University of Minnesota where he became Chair of the Department of Economics. Federal Deficits 20 award­-winning directors and 10 of our most respected economists add their voice to the chorus with a thought­-provoking short­-film series. He began as a research assistant during the drafting of the Social Security Act and rose to become Director of the Bureau of Research and Statistics in charge of program development and legislative coordination with Congress for the Social Security Board. from the McGeorge School of Law. Externalities Earlier, he was a Senior Fellow at the Center for Advanced Studies in Management at the Wharton School, President, and Senior Economic Consultant at the Committee for Economic Development, and Vice President of the Federal Reserve Bank, Chicago. He has written extensively on issues related to monetary policy and its implementation by the Federal Reserve, and his work has been published in volumes issued by the Federal Reserve System, the Bank of England, the Reserve Bank of Australia, the Bank of Japan, the Bank of Korea, the National Bureau of Economic Research, and the Brookings Institution. An early proponent of environmental protection, he took action against 149 Wisconsin companies for pollution and authored legislation to establish the Ice Age National Scenic Trail. Later, he became Co-Director of UAW Region 1A, Member-at-Large of the international UAW Board of Directors, Director of the UAW’s Chrysler, Skilled Trades and Technical Office and Professional Departments, and Vice-President of the UAW. Economist Hyman Minsky provided a promising explanation for the Great Recession of the 21st Century with his theory that the financial system plays a determining role in economic cycles. from Georgetown University Law School. He served in the U.S. Army, 1952–1954, and was employed by the Barnett Bank of Jacksonville, Florida, 1956–1957. Dr. Kohn received his B.A. from Harvard Law School. from the Fletcher School of Law and Diplomacy, and Ph.D. from George Washington University. These stories show how competitive firms minimize their costs of production by utilizing an optimal combination of inputs and scale of operation, while others fall by the wayside. IHS has worked with leading PPE professors to create a series of 24 videos on foundational topics in PPE, and to pair them each with suggested readings and other resources to add to your syllabus or lesson plan. Senator from Wyoming, 1979–1997, and Co-Chair of President Barack Obama’s 2010 National Commission on Fiscal Responsibility and Reform. The need to mobilize resources overseas quickly was palpable. from the University of Minnesota. After 1970, Los Angeles was looking for a broad-ranging smog-reduction policy to reflect recently amended Clean Air Act standards. She is the author of The English Advantage. In response to rising interest rates in the 1970s, the Maryland legislature raised usury ceilings so that more home loans would be available. Circular Flow from Georgetown University. He chaired the American Enterprise Institute’s Council of Academic Advisors and served as interim president of the Institute in 1986. RC Sproul, Jr.’s consummate teaching is illustrated with hundreds of fun and interesting clips from old movies, cartoons, and instructional videos. Director of Occupational Safety and Health for UNITE HERE, a union representing garment, textile, laundry, hotel, and restaurant workers. But, by 2010 economists disagreed about whether fiscal policy was dead, as they argued over the success or failure of President Obama’s stimulus plan. The Economic Lowdown video series is produced by the Economic Education department of the St. Louis Fed for high school and college students. 25. In 1890, the Sherman Anti-Trust Act broke up the monopoly that John D. Rockefeller and his company, Standard Oil, had on the oil industry. In the Senate, Brock was a favorite of the conservative movement, and he continued in Republican politics, after he lost his bid for re-election to the Senate, to become the campaign manager for Senator Bob Dole’s presidential campaign. Dr. Chandler received his B.A. In 1984, Congress bailed out the Chrysler Auto company after Chairman Lee Iaccoca and Douglas Fraser, chief of the United Auto Workers, came to an agreement. and Ph.D. from the University of Chicago. Mr. Volcker received his B.A. Explore data, research and more in FRASER, our digital library. 21. Economics USA: Monopoly Audio Transcript, Unit 7 Interviews, archival film, and contemporary video capture operations in business, finance, government, and politics. Von Neuman Whitman received her B.A. His books include: Ronald Reagan: The Power of Conviction and the Success of His Presidency; Competitive Equity: A Better Way to Organize Mutual Funds; Privatizing Fannie Mae, Freddie Mac and the Federal Home Loan Banks; The GAAP Gap: Corporate Disclosure in the Internet Age; and Optional Federal Chartering and Regulation of Insurance Companies. Economics is exciting and all around us! He has discussed budget policy on the major networks, and he participates in the bipartisan “Fiscal Wake-Up Tour” of town hall meetings that focuses on the crisis in Social Security, Medicare, and Medicaid. This notion gave him the reputation of being a pragmatic conservative, jokingly referred to as a “liberal’s conservative and a conservative’s liberal.” He was the author of The Fiscal Revolution in America and was on the board of contributors of the Wall Street Journal. He is a leading national trade union spokesperson on issues of job safety, health, and disability, including OSHA standard-setting and enforcement and surveillance of occupational disease and injury. Mr. Boies received his B.S. Economics USA: Monetary Policy Video Transcript, Unit 26 and Ph.D. in Economics from Northwestern University. in Public Policy from the John F. Kennedy School of Government, and J.D. The Employment Act of 1946 was the first time that government tried to employ fiscal policy. Dr. Van Doren received his B.A. He has researched financial institutions or worked directly with them as clients in a range of capacities, including as an equities analyst, credit analyst, mergers and acquisitions specialist, relationship officer, and specialist in securitizations. 2018, Economics Global trade has long been a hot button political issue, but it's reached a fever pitch in recent times. Prior to 1946, he worked at the National Bureau of Economic Research, where he compiled centralized data that led to the 1926 publication of Business Annals, a book of economic statistics for 17 countries dating back to 1890. The debate on just how much the government should produce is highlighted in these stories. Founder and President of the Information Technology and Innovation Foundation (ITIF), a policy think tank. Economics USA: Resources and Scarcity Audio Transcript, Unit 15 Economics USA: Pollution and the Environment Audio Transcript, Unit 9 Senior fellow at the American Enterprise Institute and Chairman of the Council of Economic Advisers under presidents Richard Nixon and Gerald Ford. Earlier, he was Chief Counsel and Staff Director of the United States Senate Antitrust Subcommittee and served as Chief Counsel and Staff Director of the United States Senate Judiciary Committee. and M.A. Before founding ITIF, he was Vice President of the Progressive Policy Institute and Director of its Technology and New Economy Project, writing policy papers on broadband telecommunications, Internet telephony, universal service, e-commerce, e-government, privacy, and off-shoring. and Ph.D. from George Washington University. But in the wake of the 2008 Great Recession and the failure of regulators to act, the Dodd/Frank Wall Street Reform and Consumer Protection Act became law. Economics USA: Markets Video Transcript ‘If the teacher goes too fast, we normally ask each other questions.’, ‘It’s interesting to see how college courses are going to be’ said another student.”, “Economics U$A examines major historic and contemporary events that have shaped 20th century American economics. He was editor of the Green Book, a compendium of the nation’s social programs; editor of The Future of Children, a journal on policy issues that affect children and families; and co-editor of several books on welfare and education. The seventh edition of Economics, published in 1999, included a new final chapter entitled “The End of Worldly Philosophy?” in which he gave a grim view on the current state of economics as well as a hopeful vision for a “reborn worldly philosophy” that incorporated capitalism. In 2008, he studied press coverage of climate change issues at Harvard’s Kennedy School of Government and has written about climate change politics for Time, Slate, Bloomberg News, and other publications. Mr. Forrester received his undergraduate degree from the Engineering College at the University of Nebraska. In 2001, he became Editor of the American Economic Review. He came to Washington in 1941 to work for the National Resources Planning Board and, in 1946, joined the Commerce Department’s Bureau of Economic Analysis. In 1960 President Eisenhower achieved a surplus and reduced the debt, a feat not repeated until the 1990s. Senator, 1963–1981, specializing in the environment and small business. Vice Chairman of the Board of Governors of the Federal Reserve System, 2006–2010, and Member of the Board of Governors, 2002–2008. Big Picture TV has a specialist economics area. Dr. Kaufman received his B.A. He helped draft the Marshall Plan and was prominent in business and education. versión español Mr. Randolph graduated from Salem Academy in 1920 and Salem College in 1922. Behravesh regularly appears on national radio and television programs, including BBC World Business Report, NBC Nightly News, CNN Headline News, The PBS News Hour, Fox News, CNBC, Bloomberg TV and Radio, and All Things Considered and Market Place on National Public Radio. Economic Efficiency After 1933, President Franklin D. Roosevelt sought to improve the conditions of farmers via policies in his New Deal plan. He also served as Chairman of the Board of Barnett Investment Services, Inc., and as a Director of a number of private companies and banks, including Transco Energy Company, the American Heritage Life Insurance Co., Riverside Group, Inc., Family Steak Houses of Florida and Southeast Atlantic Corp, Wickes, Inc., and Barnett Banks, Inc. Mr. Schultz received his B.A. From 1974 to 1984, he was the A. Willis Robertson Professor of Economics at the University of Virginia, where he formulated “Herbert Stein’s Law”; this stated, “If something cannot go on forever, it will stop,” meaning that if a trend cannot go on forever, there is no need for action or a program to make it stop; it will stop of its own accord. He is also a Trustee of the Council on Foreign Relations and a member of the Trilateral Commission, the Group of Thirty, the American Academy of Arts and Sciences, and the Council of Academic Advisors of the American Enterprise Institute. Economics USA: The Banking System Video Transcript from William Penn College and his M.A. Wisconsin Governor, 1959–1963, and U.S. Chairman of the Board of Governors of the Federal Reserve System, since 2006, and Chairman of the Federal Open Market Committee, the System’s principal monetary policy-making body. Dr. Ribufo received his B.A. Monetary Policy Dr. Doms received his B.A. Classroom Resources > 27. International Trade He was elected as a Democrat to the Eighty-fourth Congress by special election to fill the vacancy caused by the death of his father, Representative John D. Dingell, Sr. versión español from Harvard Law School. This video explains what GDP measures, how it is calculated, how it is useful in determining whether and how quickly the economy is growing, and how GDP can be used as indicator of standard of living. He served in the federal government for almost 30 years, in posts that included President of the Federal Reserve Bank of New York and U.S. Treasury Under Secretary for Monetary Affairs, where he developed and implemented Treasury debt management and federal credit policies. His solution to the problems of inflation and short-run fluctuations in employment and real GNP was a so-called money-supply rule, which stated that if the Federal Reserve Board were required to increase the money supply at the same rate as real GNP increased, inflation would disappear. Supply Mr. Stein’s books include The Triangle Fire (about the fire at the Triangle Shirtwaist Company that took the lives of 146 people) and Out of the Sweatshop, a documentary history of the ILGWU. For over a century, the Department of Economics at MIT has played a leading role in economics education, research, and public service. He contributed articles to Justice, the newspaper of the ILGWU, and became editor in 1952. Mr. Cohen received his B.A. This video explains the concept of equilibrium. The Economics Department today is a vibrant collection of faculty and students. Kids learn that consumers buy goods and services to satisfy their wants and that producers make goods and services. Years later, his name would be synonymous with the creation of Medicare. Under Secretary of State for Foreign and Agricultural Affairs, under President Bill Clinton, and United States Ambassador to the United Nations Economic and Social Council, 1980–1981. Economics USA: Supply and Demand Video Transcript, Economics USA: Supply and Demand Audio Transcript, Economics USA: Perfect Competition/Inelastic Demand Video Transcript, Economics USA: Perfect Competition/Inelastic Demand Audio Transcript, Economics USA: Economic Efficiency Video Transcript, Economics USA: Economic Efficiency Audio Transcript, Economics USA: Oligopolies Video Transcript, Economics USA: Oligopolies Audio Transcript, Economics USA: Pollution and the Environment Video Transcript, Economics USA: Pollution and the Environment Audio Transcript, Economics USA: Labor and Management Video Transcript, Economics USA: Labor and Management Audio Transcript, Economics USA: Labor and Management Supplemental Audio Transcript, Economics USA: Profits and Interest Video Transcript, Economics USA: Profits and Interest Audio Transcript, Economics USA: Reducing Poverty Video Transcript, Economics USA: Reducing Poverty Audio Transcript, Economics USA: Reducing Poverty Supplemental Audio Transcript, Economics USA: Economic Growth Video Transcript, Economics USA: Economic Growth Audio Transcript, Economics USA: Public Goods and Responsibility Video Transcript, Economics USA: Public Goods and Responsibility Audio Transcript, Economics USA: Resources and Scarcity Video Transcript, Economics USA: Resources and Scarcity Audio Transcript, Economics USA: Boom and Bust Video Transcript, Economics USA: Boom and Bust Audio Transcript, Economics USA: The Great Depression and the Keynesian Revolution Video Transcript, Economics USA: The Great Depression and the Keynesian Revolution Audio Transcript, Economics USA: Fiscal Policy Video Transcript, Economics USA: Fiscal Policy Audio Transcript, Economics USA: Fiscal Policy Supplemental Audio Transcript, Economics USA: Inflation Video Transcript, Economics USA: Inflation Audio Transcript, Economics USA: The Banking System Video Transcript, Economics USA: The Banking System Audio Transcript, Economics USA: The Banking System Supplemental Audio Transcript, Economics USA: The Federal Reserve Video Transcript, Economics USA: The Federal Reserve Audio Transcript, Economics USA: Stagflation Video Transcript, Economics USA: Stagflation Audio Transcript, Economics USA: Productivity Video Transcript, Economics USA: Productivity Audio Transcript, Economics USA: Federal Deficits Video Transcript, Economics USA: Federal Deficits Audio Transcript, Economics USA: Federal Deficits Supplemental Audio Transcript, Economics USA: Monetary Policy Audio Transcript, Economics USA: Monetary Policy Supplemental Audio Transcript, Economics USA: Monetary Policy Video Transcript, Economics USA: Stabilization Policy Audio Transcript, Economics USA: Stabilization Policy Video Transcript, Economics USA: International Trade Audio Transcript, Economics USA: International Trade Supplemental Audio Transcript, Economics USA: International Trade Video Transcript, Economics USA: Exchange Rates Audio Transcript, Economics USA: Exchange Rates Video Transcript. Dr. Feldstein received his B.A. Dr. Stein received his B.A. He has many publications and writes a biweekly column for the Mexican daily El Universal. Dr. Galbraith received his B.A. He also chaired the Immigration and Refugee Subcommittee of the Judiciary Committee, the Nuclear Regulation Subcommittee, the Social Security Subcommittee, and the Committee on Aging. from Princeton University, M.Sc. Previously, he spent 14 years on the staff of the House Ways and Means Human Resources Subcommittee, as Welfare Counsel and Staff Director. Chairman of the Council of Economic Advisers (CEA) under President Dwight D. Eisenhower. A prolific author, he wrote, edited, or contributed to books chronicling the labor movement and the history of economic thought. Grade 12 Economics Course This video course covers Microeconomics . Years later, his name would be synonymous with the creation of Medicare. Economics USA: The Firm Audio Transcript, Unit 3 Educator and an architect of the 1955 merger of a divided trade union movement into the AFL-CIO. First American economist to win the Nobel Prize in Economics, cited for doing “more than any other contemporary economist to raise the level of scientific analysis in economic theory.” Economic historian Randall E. Parker called him the “Father of Modern Economics” and the New York Times considered him the “foremost academic economist of the 20th century.” He spent his academic career at Massachusetts Institute of Technology (MIT), where he was awarded MIT’s highest faculty honor, and where he wrote the largest-selling economics textbook of all time: Economics: An Introductory Analysis. The Economy. In 1998, the U.S. government filed a suit against the world’s largest software company, Microsoft, for participating in anti-competitive practices. from New York University, M.S. In the 1970s U.S. textile industries risked competitive advantage in increasingly active Asian markets by investing more in the health of their workers. Economist at IHS Global Insight, responsible for overseeing IHS’s macroeconomic forecasts and analyses of the U.S. economy. Mr. Elliott received an A.B. All rights Reserved. 19. from Harvard Law School, and he did graduate work in economics at Columbia University. He spent a good part of the Depression gathering unemployment statistics, which gave him a keen insight into the free enterprise system. in Public Affairs from Princeton University. Economics USA: Stagflation Audio Transcript, Unit 23 After retiring from politics, he taught at Harvard University’s John F. Kennedy School of Government, serving two years as Director of the Institute of Politics, then returned to Wyoming to practice law. Under President George W. Bush, he was Chief Economist for the Council of Economic Advisers and Director of the Congressional Budget Office. The study of economics is built on the foundation of three very important concepts: scarcity, choice, and opportunity cost. Mr. Spatz received his B.A. from Columbia University and Ph.D. in Economics from the New School for Social Research. Economics U$A: 21st Century Edition. The U.S. market was flooded with British goods and U.S. industry suffered. in Political Economy and Government from Harvard University and did postgraduate work at the London School of Economics. Chief U.S. and M.A. and Ph.D. in International Affairs from Columbia University. He also served as White House Counsel to President Ronald Reagan. in Sociology from Harvard College and an M.A. In 1996 President Bill Clinton signed the Welfare Reform Act, providing childcare assistance for mothers in the work force. Economics USA: Inflation Video Transcript The Bank On movement is designed to improve the financial stability of America’s unbanked and underbanked. Stabilization Policy Economics USA: Economic Efficiency Audio Transcript, Unit 6 Mr. Levitan received his B.S. Keynes published The General Theory of Employment, Interest & Money in 1936, displaying ideas that later became the basis for public policy in Washington. from the University of Toronto and M.A. Jacques Barzun Professor in History and the Social Sciences at Columbia University, specializing in urban, social, and military history. Inflation October 1987“For the past year the Florida Council on Economic Education network has been using the Economics U$A series in its teaching training offerings. 8. He authored Worldly Philosophers, as well as Economics, the second-best-selling economics textbook of all time. Before joining Salomon Brothers, he served as an economist at the Federal Reserve Bank of New York. These stories discuss the relationship between the money supply, economic growth, and inflation, and explain why choosing correct monetary policy can be so difficult. He has also appeared on CNN, CNBC, Fox News Channel, and Voice of America. He held positions in the federal government, labor movement, and academia, serving in the U.S. Office of Education, Department of Labor, and on the National Labor Relations Board. The Federal Reserve was originally created in 1913 as an emergency lender to banks–a sort of bank of last resort. Mr. Aslett is a graduate of the London School of Printing. Browse the latest Economy videos from the Wall Street Journal, MarketWatch, and Barron's. From 1933 to 1946, he was an attorney for the Agricultural Adjustment Administration, a consultant to the Senate on social, economic, industrial, and financial issues, legislative assistant to Democratic New York Senator Robert F. Wagner, and General Counsel to the U.S. Housing Authority, Federal Public Housing Authority, and National Housing Agency. In 1977, the federal court system told the Reserve Mining Company to build a $400 million disposal site for carcinogenic materials. Economist noted for his work on John Maynard Keynes. Additionally, his support for the A-10 and the lightweight fighter program (later the F-16) helped ensure that they were carried to completion. These stories explain the role of banks in the U.S. economy and how government agencies act to prevent individual bank failures from becoming banking crises. Dr. Haskins received his B.A., M.A. from the University of Montana and M.A. He served as an adviser to Presidents John F. Kennedy and Lyndon B. Johnson, and to the United States Treasury, the Bureau of the Budget, and the President’s Council of Economic Advisers. 22. Chief Historian at the U.S. Department of Agriculture in the 1980s. Because I want to understand how the world works.Economics, sometimes referred to as the queen of social sciences, is all about choice and is at the heart of all decision-making. Unemployment These stories illustrate the pros and cons of free trade. He has also served on the Subcommittee on Communications and Technology, the Subcommittee on Energy and Power, and the Subcommittee on Environment and Economy. He has authored and co-authored 17 books and is a regular columnist for the Wall Street Journal. He joined the faculty at the Maxwell School of Citizenship and Public Affairs, becoming Chair of the Department of Economics, 1997–2001. from Harvard Law School. Following WWII, rent controls established to aid returning war veterans cut into landlord profits and consequently led some to abandon properties. Others insisted that increased trade would create new American jobs and industries. Richard Gill Economics USA: Productivity Video Transcript The Federal Reserve 1. A comprehensive video tutorial series covering all the major Year 1/AS Macroeconomics content including useful tips regarding analysis and evaluation Microeconomics - Year 2 A Level and IB A run through some of the most difficult to grasp A2 microeconomics material. Monopoly He then became a consultant in the Washington, D.C., area and ran unsuccessfully for the Senate, from Maryland, in 1994. These stories all deal with differences in income and how public policy and private funding is used to reduce poverty. After the war, he started a consultancy firm called Robert R. Nathan Associates. Following the Arab oil embargoes of 1973, the Nixon administration latched onto the world price of “new” oil, encouraging domestic oil suppliers to drill again. in Computer Science from Duke University. In 1972 a group of experts known as the Club of Rome issued a report called “The Limits to Growth,” predicting that raw materials could run out and world population growth and pollution could get out of hand. Wozniak has been given honorary degrees by the University of Colorado at Boulder, Kettering University, North Carolina State University, and Nova Southeastern University. During the Depression he served in the Treasury Department, the Securities and Exchange Commission, and the Commerce Department. The Firm Economics USA: Profits and Interest Video Transcript Prior to serving in Congress, he was the Associate Editor of the West Virginia Review at Charleston, West Virginia, and head of the department of public speaking and journalism at Davis and Elkins College. Faced with dwindling resources, Congress fiercely debated whether to preserve 100 million acres of Alaskan land as a national park, or open the land for mineral exploration. from Princeton University and L.L.B. He has been Vice President of the American Economic Association and President of the Association of Public Policy and Management. He is also Chairman of Criterion Economics. He held a brief stint as a television reporter before returning to print, founding the critically acclaimed Boston Observer. In 1929 following the stock market bottoming out, Simon Kuznets led an investigative study resulting in the first national data collection of Gross National Product (GNP).