Tuesday, September 25, 2007

Prof. Whitehead's Favorite Quiz Question

See if you can identify the mistake in the following passage from The Economist.

"At the same time high prices are bound to constrain demand, and unpredictable economic growth and Middle Eastern politics make the future of both demand and supply uncertain."

Hint: exogenous vs. endogenous.

Friday, September 21, 2007

Sustainability Tuesday

Please check the syllabus for two new articles. One is a short comment by Bob Solow on Sustainability and the other is article is from RFF. Here is a link to the updated syllabus.

Also, notice we do not have class this coming Thursday - I will be at NC State attending a climate economics workshop.

Tuesday, September 18, 2007

Why do we treat natural resources the way we do?

Maybe there are some clues here.

Fascinating work and even more insights into that whole conservative liberal thing....

Field Research II

Olivia and I went swimming in Banks Channel yesterday afternoon. We saw 6 dolphins swimming in the channel and then they headed out to sea through Masonboro Inlet.

Tuesday, September 11, 2007

Why Lead in Toy Paint?

The answer is: it's cheaper. But is it? According to this article paint with high levels of lead sell for 1/3 the price of their lead-less counterparts. So, firms in China buy leaded paint to lower costs and maximize profits - wouldn't Uncle Milton be proud. Are the firms in China bearing all the costs or are there potential market failures here? Let me know what you think?

Monday, September 10, 2007

How should we teach Coase??

I thought it might be helpful to see how others struggle with teaching Coase. Here are some thoughts from Tim Habb.

See you tomorrow.

Field Research during my Sabattical

Part of my time away from W&L will be spent doing field research. Since my primary field of interest these days is Marine Resource Recreation Valuation, it is important for me to recreate. Tonight we (the research team consists of Catarina, Olivia, and Lisa) went to a sea turtle excavation. It was really beautiful to see those little dudes heading for the great big sea. Yesterday, our research yielded an intact sand dollar and a good size crab caught with a chunk of mullett.

I Knew it!!!

I want to learn about this study, but in the meantime here is an interesting article on the difference between conservatives' brains and those of a liberal bent...

Wednesday, September 05, 2007

What Can I do with a Degree in Economics?

Students are fond of asking that question and often the response is something 'blase' like go to Law School, be a consultant, go to business school, or work for an NGO. One of my former students works for AEI in Washington and from now on, when students ask me, "what can I do with a degree in Economics" my response will be "read this."

Nice work Tom!!!