. What behaviors indicate psychological distress? Name 5 and explain.

. What behaviors indicate psychological distress? Name 5 and explain.

The term ‘distress’ is commonly used in nursing literature to … Read More...
• What happens in the business environment when some people function according to those rules, and others do not?

• What happens in the business environment when some people function according to those rules, and others do not?

A standard cannot basically be recognized with a recurrent, combined … Read More...
“How to Date a Black girl, Brown girl, Halfie or White girl” written by Junot Diaz

“How to Date a Black girl, Brown girl, Halfie or White girl” written by Junot Diaz

A story “How to Date a Black girl, Brown girl, … Read More...
Develop a 4 page-500 word précis on Chapter 7 “How to Monitor & Control a TPM Project” of the Wysocki 7th Ed. text.”

Develop a 4 page-500 word précis on Chapter 7 “How to Monitor & Control a TPM Project” of the Wysocki 7th Ed. text.”

Summary of ‘How to Monitor and Control a TPM Project’ … Read More...
Vermont Technical College Electronics I – Laboratory ELT-2051 Lab 07: Transistor Biasing Circuits and Q-point Stability Objectives: • To set an operating point for a transistor using three different bias techniques • To explore amplification of an AC signal • To use MultiSim to verify your experimental data General: In this laboratory, you will be supplied with two NPN transistors with varying ß’s. Prelab: Calculate values of Rb in Figures 1 and 2 assuming ß = 200, VCE = 6V . For Figure 3, calculate R1 and R2 so that their parallel resistance is about 20KΩ or 10% of (ß+1)RE. Also, calculate the critical frequency of the 1uF capacitor in Figure 4. Materials: • 2N3904, 2N4123 NPN TXs (1 high ß, 1 low ß) • (2) 1 k Ohm, 100 k Ohm, assorted resistors • 1uF, 10uF capacitors • Curve Tracer • DC Power Supply • Multimeter • Signal Generator • Oscilloscope • Breadboard Procedure: 1. Use the curve tracer to plot the curves for each of your transistors. From these curves, again using the curve tracer, determine the ßDC for each transistor at the IC currents of 1mA, 3mA, 6mA, and 10mA with VCE = 6V. Of course, be sure to keep track of which transistor goes with which curve. Verify that the ßDC values that you obtain are within the manufacturer’s specifications. Remember– ßDC = hFE ! 2. For each of the three circuits shown in Figures 1-3, using the R values calculated in your prelab, determine the operating points IC and VCE for each of the transistors. Be sure to table your data. In addition, plot ß vs IC for both transistors on a single graph so that the data is meaningful! What conclusions can be reached for the 3 biasing circuits? 3. Lastly – Build Figure 4 and determine the ratio (Gain) of Vout/Vin at 1KHz. Now vary the frequency of Vin to determine at what frequencies this ratio decreases to 0.707 of the value at 1KHz. 4. Use the Bode Plotter feature in MultiSim to verify your data of Part 3. Is the cut-off frequency the same as you measured in the lab? Base Bias: Parameter Calculated Value Simulated Value Measured Value VCE1 (high β) VCE2 (low β) n/a n/a |VCE1 – VCE2| 0 0 IC1 (high β) IC2 (low β) n/a n/a |IC1 – IC2| 0 0 Emitter Bias: Parameter Calculated Value Simulated Value Measured Value VCE1 (high β) VCE2 (low β) n/a n/a |VCE1 – VCE2| 0 0 IC1 (high β) IC2 (low β) n/a n/a |IC1 – IC2| 0 0 Voltage Divider Bias: Parameter Calculated Value Simulated Value Measured Value VCE1 (high β) VCE2 (low β) n/a n/a |VCE1 – VCE2| 0 0 IC1 (high β) IC2 (low β) n/a n/a |IC1 – IC2| 0 0 Laboratory Report: This lab is a semi-formal lab. Be sure to collect all data necessary to make observations and answer questions before you leave the lab. Also, you and your lab partner should discuss the results and outcomes prior to leaving. Take notes, fill in tables and include diagrams as needed. Your report should include: • Data Table • Beta Plot • MultiSim Frequency Response • Comparison of biasing schemes • Comparison of measurements vs. simulations and expectations.

Vermont Technical College Electronics I – Laboratory ELT-2051 Lab 07: Transistor Biasing Circuits and Q-point Stability Objectives: • To set an operating point for a transistor using three different bias techniques • To explore amplification of an AC signal • To use MultiSim to verify your experimental data General: In this laboratory, you will be supplied with two NPN transistors with varying ß’s. Prelab: Calculate values of Rb in Figures 1 and 2 assuming ß = 200, VCE = 6V . For Figure 3, calculate R1 and R2 so that their parallel resistance is about 20KΩ or 10% of (ß+1)RE. Also, calculate the critical frequency of the 1uF capacitor in Figure 4. Materials: • 2N3904, 2N4123 NPN TXs (1 high ß, 1 low ß) • (2) 1 k Ohm, 100 k Ohm, assorted resistors • 1uF, 10uF capacitors • Curve Tracer • DC Power Supply • Multimeter • Signal Generator • Oscilloscope • Breadboard Procedure: 1. Use the curve tracer to plot the curves for each of your transistors. From these curves, again using the curve tracer, determine the ßDC for each transistor at the IC currents of 1mA, 3mA, 6mA, and 10mA with VCE = 6V. Of course, be sure to keep track of which transistor goes with which curve. Verify that the ßDC values that you obtain are within the manufacturer’s specifications. Remember– ßDC = hFE ! 2. For each of the three circuits shown in Figures 1-3, using the R values calculated in your prelab, determine the operating points IC and VCE for each of the transistors. Be sure to table your data. In addition, plot ß vs IC for both transistors on a single graph so that the data is meaningful! What conclusions can be reached for the 3 biasing circuits? 3. Lastly – Build Figure 4 and determine the ratio (Gain) of Vout/Vin at 1KHz. Now vary the frequency of Vin to determine at what frequencies this ratio decreases to 0.707 of the value at 1KHz. 4. Use the Bode Plotter feature in MultiSim to verify your data of Part 3. Is the cut-off frequency the same as you measured in the lab? Base Bias: Parameter Calculated Value Simulated Value Measured Value VCE1 (high β) VCE2 (low β) n/a n/a |VCE1 – VCE2| 0 0 IC1 (high β) IC2 (low β) n/a n/a |IC1 – IC2| 0 0 Emitter Bias: Parameter Calculated Value Simulated Value Measured Value VCE1 (high β) VCE2 (low β) n/a n/a |VCE1 – VCE2| 0 0 IC1 (high β) IC2 (low β) n/a n/a |IC1 – IC2| 0 0 Voltage Divider Bias: Parameter Calculated Value Simulated Value Measured Value VCE1 (high β) VCE2 (low β) n/a n/a |VCE1 – VCE2| 0 0 IC1 (high β) IC2 (low β) n/a n/a |IC1 – IC2| 0 0 Laboratory Report: This lab is a semi-formal lab. Be sure to collect all data necessary to make observations and answer questions before you leave the lab. Also, you and your lab partner should discuss the results and outcomes prior to leaving. Take notes, fill in tables and include diagrams as needed. Your report should include: • Data Table • Beta Plot • MultiSim Frequency Response • Comparison of biasing schemes • Comparison of measurements vs. simulations and expectations.

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The primary goals of inventory managers are to maintain a sufficient quantity of inventory to meet customers’ needs, ensure inventory quality meets customers’ expectations and company standards, and minimize the cost of acquiring and carrying inventory.

The primary goals of inventory managers are to maintain a sufficient quantity of inventory to meet customers’ needs, ensure inventory quality meets customers’ expectations and company standards, and minimize the cost of acquiring and carrying inventory.

Question 4   The primary goals of inventory managers are … Read More...
Critical Reflection Assignment (Essay 5) Goals: • As the name implies, the hope is you will reflect on your writing choices, which may in turn get you to rethink some of them and perhaps give you ideas for further revision. • Reflecting also gives you opportunity to reinforce good choices you made and hence remember them to do again when you write future papers. • This further provides you the opportunity to take credit for some good choices and hopefully bolster your confidence. • It allows you to point out why your paper demonstrates your competency in writing academic essays to justify a passing grade in English 111. • It also is a last ditch effort to show your thinking!!! If you explain why you made the choices you did in your synthesis essay, and you truly share your thinking, it helps you meet top box expectations yet again. Directions: 1. Choose either essay 3 or 4 to write about. 2. Take some time to reflect on how your idea for that essay came about, why you picked that idea to go with, what questions came to mind, and what pre-writing strategies you went through to get started. 3. Get out one of your copies of the English 111 Rubric. Go over it. Make sure you know what each box is looking for. 4. Plan an essay that helps you show that you have met the expectations of each box. Stress your thinking and reasoning. For any idea you include – explain why you did those things. Emphasize what you believed the job was, why you chose to approach it the way you did, the options you considered, and what you ended up doing after revising. 5. Be sure to include a discussion of effective thinking, complexity, source selection, source use, synthesis, and revision. 6. As you have teachers in your audience, it would likely be a good choice to include what you learned and how you’ll use that in your future writing. Rough Draft should be completed Tuesday Week 14. Final (REVISED) Copy due at your meeting week 14/15.

Critical Reflection Assignment (Essay 5) Goals: • As the name implies, the hope is you will reflect on your writing choices, which may in turn get you to rethink some of them and perhaps give you ideas for further revision. • Reflecting also gives you opportunity to reinforce good choices you made and hence remember them to do again when you write future papers. • This further provides you the opportunity to take credit for some good choices and hopefully bolster your confidence. • It allows you to point out why your paper demonstrates your competency in writing academic essays to justify a passing grade in English 111. • It also is a last ditch effort to show your thinking!!! If you explain why you made the choices you did in your synthesis essay, and you truly share your thinking, it helps you meet top box expectations yet again. Directions: 1. Choose either essay 3 or 4 to write about. 2. Take some time to reflect on how your idea for that essay came about, why you picked that idea to go with, what questions came to mind, and what pre-writing strategies you went through to get started. 3. Get out one of your copies of the English 111 Rubric. Go over it. Make sure you know what each box is looking for. 4. Plan an essay that helps you show that you have met the expectations of each box. Stress your thinking and reasoning. For any idea you include – explain why you did those things. Emphasize what you believed the job was, why you chose to approach it the way you did, the options you considered, and what you ended up doing after revising. 5. Be sure to include a discussion of effective thinking, complexity, source selection, source use, synthesis, and revision. 6. As you have teachers in your audience, it would likely be a good choice to include what you learned and how you’ll use that in your future writing. Rough Draft should be completed Tuesday Week 14. Final (REVISED) Copy due at your meeting week 14/15.

ENG 111 M05 14 Apr. 15   Forest Gump and … Read More...
AUCS 340: Ethics in the Profession Written Video Presentation Response Paper As a component of this course you will have the opportunity to view the movie “My Sister’s Keeper” (2009) starring Cameron Diaz, Jason Patric and Abigail Breslin. This movie is an adaptation of the book of the same title written by Jodi Picoult. Your answers are to be based on the movie adaptation of the book. While this movie offers a profound family story it also reflects upon issues related to current technological advancements in medicine and it will also offer you the opportunity to identify and respond to some of ethical issues represented in the movie. After viewing this movie, respond to the following questions. Your answers should be insightful and reflective of the topics researched for class, in regards to the ethical treatment to be afforded all citizens. 1. Identify at least two ethical issues/situations portrayed in the movie. These issues must be separate from the issue of stem cell research which will be addressed in questions later in this assignment. 2. Discuss a solution or solutions to each of the ethical issues that you identified in question number one. If multiple solutions are offered, identify your solutions as to first preference, second preference and so on until concluded. 3. Are your solutions feasible? What cost would it take to implement your solutions: taxes, wholesale system changes, society as a whole? 4. This movie incorporates the topic of stem cell usage for the treatment of medical conditions. Discuss the difference between the acquisition of fetal stem cells and adult stem cells. List ethical arguments both for and against the concept of expanding stem cell research to have a more active role in the development of treatment options for patients. 5. List at least five medical conditions that have the potential to be treated with stem cells. 6. Discuss the attitude of former President George W. Bush and current President Barack Obama in their philosophical approach to the issue of stem cell research. (Do they accept or reject the idea of stem cell research? Is there legislation that supports their views?) 7. From your previous assignment on the administration of healthcare in the United States you should have a general view of some of the problems facing the distribution of healthcare services in the United States. Research the changes to the health care system as proposed by President Barack Obama, and passed into legislation as the Patient Protection and Affordable Care Act, and outline/list these changes for healthcare reform in the United States. What are the financial implications of this plan? What portions of this plan do you find feasible to solving the problem of inadequate healthcare coverage for all Americans? What portions of this plan do you find unacceptable? 8. Overall, do you feel that these proposed changes will benefit or cause harm to the distribution of healthcare in the United States? Explain the rationale behind your answer. 9. Discuss problems in implication of the Affordable Care Act (ACA) that have occurred since October 2013. Have theses issues been resolved? 10. To date, how many people have been enrolled in the Affordable Care Act? Is this number above expectations, below expectations or at the level of expectation for enrollment at this point in time? 11. How will future enrollment in Medicaid be affected by the passage of the Affordable Care Act? This assignment is due on the date posted in the syllabus. Grading: Content of responses: thought provoking, rationale defended = 70% of grade Correct use of sentence structure, grammar and spelling, stapled for presentation = 20% of grade Appropriate use of citations and references = 10% of grade (No www.Wikipedia.com) It is expected that the length of the computer generated responses to these questions will be presented in at least three – four pages of text. Use 12 font and double spacing for your responses. Format: you may either respond to the questions as a running essay or use the questions as a header for each individual answer.

AUCS 340: Ethics in the Profession Written Video Presentation Response Paper As a component of this course you will have the opportunity to view the movie “My Sister’s Keeper” (2009) starring Cameron Diaz, Jason Patric and Abigail Breslin. This movie is an adaptation of the book of the same title written by Jodi Picoult. Your answers are to be based on the movie adaptation of the book. While this movie offers a profound family story it also reflects upon issues related to current technological advancements in medicine and it will also offer you the opportunity to identify and respond to some of ethical issues represented in the movie. After viewing this movie, respond to the following questions. Your answers should be insightful and reflective of the topics researched for class, in regards to the ethical treatment to be afforded all citizens. 1. Identify at least two ethical issues/situations portrayed in the movie. These issues must be separate from the issue of stem cell research which will be addressed in questions later in this assignment. 2. Discuss a solution or solutions to each of the ethical issues that you identified in question number one. If multiple solutions are offered, identify your solutions as to first preference, second preference and so on until concluded. 3. Are your solutions feasible? What cost would it take to implement your solutions: taxes, wholesale system changes, society as a whole? 4. This movie incorporates the topic of stem cell usage for the treatment of medical conditions. Discuss the difference between the acquisition of fetal stem cells and adult stem cells. List ethical arguments both for and against the concept of expanding stem cell research to have a more active role in the development of treatment options for patients. 5. List at least five medical conditions that have the potential to be treated with stem cells. 6. Discuss the attitude of former President George W. Bush and current President Barack Obama in their philosophical approach to the issue of stem cell research. (Do they accept or reject the idea of stem cell research? Is there legislation that supports their views?) 7. From your previous assignment on the administration of healthcare in the United States you should have a general view of some of the problems facing the distribution of healthcare services in the United States. Research the changes to the health care system as proposed by President Barack Obama, and passed into legislation as the Patient Protection and Affordable Care Act, and outline/list these changes for healthcare reform in the United States. What are the financial implications of this plan? What portions of this plan do you find feasible to solving the problem of inadequate healthcare coverage for all Americans? What portions of this plan do you find unacceptable? 8. Overall, do you feel that these proposed changes will benefit or cause harm to the distribution of healthcare in the United States? Explain the rationale behind your answer. 9. Discuss problems in implication of the Affordable Care Act (ACA) that have occurred since October 2013. Have theses issues been resolved? 10. To date, how many people have been enrolled in the Affordable Care Act? Is this number above expectations, below expectations or at the level of expectation for enrollment at this point in time? 11. How will future enrollment in Medicaid be affected by the passage of the Affordable Care Act? This assignment is due on the date posted in the syllabus. Grading: Content of responses: thought provoking, rationale defended = 70% of grade Correct use of sentence structure, grammar and spelling, stapled for presentation = 20% of grade Appropriate use of citations and references = 10% of grade (No www.Wikipedia.com) It is expected that the length of the computer generated responses to these questions will be presented in at least three – four pages of text. Use 12 font and double spacing for your responses. Format: you may either respond to the questions as a running essay or use the questions as a header for each individual answer.

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Assignment One Suggested Due Date: July 17th In this assignment you will read three articles You will answer questions about Hayek, Lucas, and Mankiw et. al. which consider just those particular articles. Then at the end of the assignment there is a cluster of questions that deal with both Lucas and Mankiw et al where you will have an opportunity to compare and contrast those two articles. When you have completed the assignment, place it in the appropriate drop box in WTClass. Hayek: The Use of Knowledge in Society http://www.econlib.org/library/Essays/hykKnw1.html Adapted from Michael K. Salemi “The Use of Knowledge in Society” F. A. Hayek Discussion Questions 1.1. “The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must make use never exists in concentrated or integrated form, but solely as the dispersed bits of incomplete and frequently contradictory knowledge which all the separate individuals possess (H.3)” a. What does Hayek mean by a “rational economic order”? b. What does Hayek mean by “dispersed bits of incomplete and frequently contradictory knowledge”? c. Why is Hayek critical of the common assumptions in economic analysis that buyers, sellers, producers and the economist all know every relevant thing about the economy? d. What, in summary, does Hayek mean by the quoted statement? 1.2. What, according to Hayek, is the information needed to operate effectively in a complex market economy? a. What does Hayek mean by “planning”? b. What is the minimum information needed by economic planners and individuals? c. Does the minimum differ for planners and for individuals? How? Why? d. What happens when some individuals possess more information than other individuals? e. What does Hayek mean when he says (H.16) “…the sort of knowledge with which I have been concerned is knowledge of the kind which by its nature cannot enter into statistics and therefore cannot be conveyed to any central authority in statistical form”? f. Why, according to Hayek, can the “information problem” be solved by “the price system”? 1.3. Why, according to Hayek, is the true function of the price system the communication of information? a. Why does Hayek use the term ‘marvel’ in his discussion of the economy of knowledge? b. What does Hayek mean when he says (H.26) “…man has been able to develop that division of labor on which our civilization is based because he happened to stumble upon a method which made it possible”? Read Robert Lucas’ “Some Macroeconomics for the 21st Century” in the Journal of Economic Perspectives. (Skip the appendix.) All four of these links go to the same article. Some of the links might not be accessible to you, but I think that at least one of them should work for all of you. https://www.aeaweb.org/articles.php?doi=10.1257/jep.14.1.159 http://www.jstor.org/stable/2647059 http://www.econ.psu.edu/~aur10/Econ%20570%20Fall%202009/Lucas%20JEP%202000.pdf http://faculty.georgetown.edu/mh5/class/econ102/readings/Macro_21st_Century.pdf 1. According to Lucas, why has the world’s economy grown so much since 1960? 2. According to Lucas, why do some nations grow faster than others? 3. According to Lucas, why will growth and inequality decrease in the next 100 years? 4. Is Lucas’ model in this paper “economics?” Read Greg Mankiw, Romer and Wiel’s article in The Quarterly Journal of Economics. http://www.econ.nyu.edu/user/debraj/Courses/Readings/MankiwRomerWeil.pdf 1. Many economists think the Solow Growth Model is of limited use. (One of my professors at OU stated that it took economists 50 years to figure out that their growth model has nothing to do with growth.) But does the Solow model give “…the right answer to the questions it is designed to address?” 2. Why is human capital important when testing the Solow model against the data? 3. Explain how the authors conclude that the incomes of the world’s nations are converging? Now that you’ve answered questions about Lucas and Mankiw et al separately, consider this question: Both of these papers develop the notion that the economies of the world’s nations will tend to “converge” over time. Compare and contrast the way(s) in which the papers advance the idea of convergence. Assignment Two Due Date July 24th This assignment is very straight forward. You’ll read two papers and answer questions about each of them. Read Krugman’s paper on unemployment http://www.kc.frb.org/PUBLICAT/ECONREV/EconRevArchive/1994/4Q94KRUG.pdf 1. What is the difference between structural and cyclical unemployment? In this context, what is the difference between Europe and the US? What is the evidence that Krugman uses to back his opinion? 2. What is the natural rate of unemployment? Why is it higher/rising in Europe? Again, what is the evidence? 3. What is the relationship between the rising unemployment in Europe and the rise in inequality in the US. (What does Krugman mean by inequality?) 4. What is NOT to blame for either the rise in unemployment or inequality? 5. What policies, if any, can be put into place to combat rising inequality/unemployment? 6. Are you convinced by Krugman’s argument which rules out globalization as the likely cause for high European unemployment and high US wage inequality? 7. Consider Table 2 in Krugman. Why does Krugman include Table 2 in his paper? In other words, what point is strengthened by the data in Table 2 and why is it crucial to Krugman’s larger thesis? NOW, recreate the data for Table 2 for either the UK or US for the latest year possible. Has anything changed as a result of the Great Recession? Read Thomas Sargent’s paper about the credibility of “Reaganonomics.” http://minneapolisfed.contentdm.oclc.org/cdm/ref/collection/p15334coll1/id/366 http://minneapolisfed.contentdm.oclc.org/cdm/singleitem/collection/p15334coll1/id/366/rec/1 You might like this: http://www.ispot.tv/ad/7Lj9/ally-bank-predictions-featuring-thomas-sargent 1. What is a dynamic game? 2. Why should we think of monetary and fiscal policy as dynamic game? Who are the players and what are the strategies? 3. When are government budgets inflationary? (Again, think in terms of a game.) 4. What are the consequences if the monetary authority does not coordinate with fiscal policy agents? 5. Has Sargent done of good job characterizing the interplay between policymakers in the government, the central bank, and the public? 6. What is the connection between policy coordination and credibility? 7. Why, according to Sargent, were Reagan’s fiscal and monetary policy regimes “incredible?” Explain carefully. Assignment Three Due Date July 31 Read Taylor, Miskin, Obstfeld and Rogoff. Answer the questions for each article, then answer the final cluster that requires you to consider Miskin, Obstfeld and Rogoff. Suggested due date: January 2nd. Read John Taylor’s article about monetary transmission mechanisms. http://web.econ.unito.it/bagliano/ecmon_readings/taylor_jep95.pdf Also, to understand traditional monetary policy, listen to this: http://www.econtalk.org/archives/2008/08/john_taylor_on.html These questions refer to the article, not the podcast. 1. How does monetary policy (or changes in monetary policy) affect output and inflation? In other words, what is the monetary policy transmission mechanism? 2. What is the importance of financial market prices in Taylor’s view? 3. What is the importance of rational expectations and rigidities in the prices of labor and goods? 4. What is a reaction function? Why is a reaction function important? 5. What is an “optimal monetary policy rule?” 6. Has the monetary transmission mechanism changed? How? 7. What are the criticisms of Taylor’s views? How does he respond? What do you think? Read Mishkin’s article about global financial instability. http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.13.4.3 1. What is a financial crisis? 2. How did adverse selection and moral hazard contribute to the financial crisis in Mexico and East Asia in the 1990s? What are adverse selection and moral hazard? 3. Did irresponsible monetary and fiscal policy contribute to the crisis in the 90s? Why or why not? 4. How is it possible for the IMF to help in a crisis when a domestic central bank might not be able to help. 5. What should the US learn (or have learned??) from the crisis in the 90s? Read Rogoff’s article about global financial instability. http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.13.4.21 http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.13.4.21 Answer the questions and place the answers in the appropriate drop box in WTClass. 1. According to Rogoff, is the status quo in international lending viable or not? Explain. 2. Can the IMF handle international financial crises? Why or why not? 3. Rogoff gives six solutions to save the global financial system (deep pockets lender of last resort, an international financial crisis manager, an international bankruptcy court, an international regulator, international deposit insurance corporation, and a world monetary authority.) What is wrong with all of these? 4. Can developing economies cope with speculative capital flows without help? Explain. 5. What will be (should be) the role that equity financing play in developing country projects? Read Obstfeld on Global Capital Markets: http://www.nber.org/papers/w6559.pdf 1. Look at table 1 and figure 1. How does Obstfeld use the data in that table to suggest that 1) markets became less open then more open in the 20th century. 2. What is the “openness trilemma?” What are the economic and/or policy trade-offs with having a global, open and integrated financial system? 3. How does economic integration impact a nation’s ability to tax capital? Can you think of some high profile cases in the news lately that illustrate this fact? (Hint: you should be able to.) 4. What is the international diversification puzzle? What market failures have arisen (if any) have arisen due to more integration and openness? Comparing Obstfeld, Miskin, and Rogoff 1. Would the authors’ advice about policies to reduce the costs of financial integration be the same? Why or why not? 2. Would the authors’ agree that we need an international regulatory body to stave off international financial crises? Why or why not? 3. What is your opinion? Is it good to have a global financial market? Why or why not? Assignment Four Due Date August 7 Straight forward assignment: Read and answer the questions. Read Arnold Kling’s history of the policies that created the great recession http://mercatus.org/publication/not-what-they-had-mind-history-policies-produced-financial-crisis-2008 1. Using only the executive summary, what does Kling think caused the Financial Crisis of 2008? (Use only one sentence.) 2. One page 5, what is “the fact?” and what does this “fact” mean to you? 3. Briefly summarize the four components of the Financial Crisis? 4. On page 10, Kling states, “These property bubbles (in the U.K. and Spain) cannot be blamed on U.S. policy.” How confident are you on that point? Is Kling wrong? 5. Kling’s matrix of causes, gives almost all weight to what two factors? What three factors are almost completely not responsible? 6. Many have blamed designer financial (my term) like CDS and CDO and the shadow banking system for the collapse. How do these fit into Kling’s narrative? 7. Outline the progression of policy that caused/responded to economic conditions in the 30s, 70s and 80s and 00s. 8. What role did the mortgage interest deduction have on housing market? 9. What institution invented and allowed the expansion of mortgage-backed securities? 10. What is regulatory arbitrage? 11. Why did the Basel agreement create an advantage for mortgage securitization? 12. Did the Federal Reserve (and presumably other regulatory agencies know and even encourage regulatory capital arbitrage? What author does Kling cite to establish this? 13. What did the 2002 modification of the Basel Rules do to capital requirements? (See figure 4) 14. Summarize the Shadow Regulatory Committee’s statement 160. 15. Did non market institutions, such as the IMF and Bernanke, think, in 2006, that financial innovation had make the banking sector more or less fragile? 16. What is time inconsistency? (You can look this up elsewhere.) 17. How might “barriers to entry” by related to “safety and soundness?” 18. A Curmudgeon is an old man who is easily annoyed and angered. He also complains a lot. (I had to look it up.) I think I’ll change my xbox gamertag to this word, but I’ll bet it is taken. 19. How did credit scoring and credit default swaps enlarge the mortgage securities market? 20. Why, up until 2007, did we think that monetary expansion was all that was needed to mitigate the impact of financial crises? 21. Suppose that financial markets are inherently unstable. What does this mean are two goals of regulation and regulators? 22. Why are type two errors so problematic? (Two reasons.) 23. How could we make the banking sector easy to fix? Assignment Five Due August 13 Read the linked lectures and answer the questions. Lecture 1 http://econlog.econlib.org/archives/2008/11/lectures_in_mac.html 1.1 Why do you think macroeconomic realities must be reconciled with microeconomic analysis? (This is not a rhetorical question, but it will be hard for you to answer. There is no “wrong” answer you could give. Just think about it for a few minutes.) Lecture 2 http://econlog.econlib.org/archives/2008/11/lectures_in_mac_1.html 2.1 Consider this article after you have read Hayek. How do prices and wages perform the function of “central planning?” 2.2 Kling makes that claim that, because most workers do not do manual labor anymore, the economy is different that it was in 1930. Assuming he is correct, do you think central planning would be harder today or easier? Why? Lecture 3 http://econlog.econlib.org/archives/2008/11/lectures_on_mac.html 3.1 Give a one sentence definition of structural unemployment, of frictional unemployment and of cyclical unemployment. Lecture 4 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_1.html 4.1 So, why does the economy adjust employment rather than wages? Lecture 5 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_2.html 5.1 Kling gives 5 reasons the DotCom recession was worse than the previous two recessions (at least in duration). Which reason do you think is the most compelling? Lecture 6 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_3.html 6.1 Why are Keynesian remedies (blunt fiscal and monetary policy measures) less appropriate in a post industrial economy, according to Kling? Lecture 7 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_4.html 7.1 Why is it so hard to separate finance and government, according to Kling? Lecture 8 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_5.html 8.1 Why is American Express Travelers Checks so interesting? Do credit cards work in a similar way? (I really don’t know the answer to this one. I just know that credit cards have made travelers checks obsolete.) Lecture 9. http://econlog.econlib.org/archives/2008/12/lectures_on_mac_6.html 9.1 According to this article, why do we have banks (financial sector or financial intermediation?) Lecture 10 http://econlog.econlib.org/archives/2008/12/lectures_on_mac_7.html 10.1 Why are banks better than barter, according to this leture? 10.2 Politics tends to favor bailouts of failed firms. Why is this exactly wrong?

Assignment One Suggested Due Date: July 17th In this assignment you will read three articles You will answer questions about Hayek, Lucas, and Mankiw et. al. which consider just those particular articles. Then at the end of the assignment there is a cluster of questions that deal with both Lucas and Mankiw et al where you will have an opportunity to compare and contrast those two articles. When you have completed the assignment, place it in the appropriate drop box in WTClass. Hayek: The Use of Knowledge in Society http://www.econlib.org/library/Essays/hykKnw1.html Adapted from Michael K. Salemi “The Use of Knowledge in Society” F. A. Hayek Discussion Questions 1.1. “The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must make use never exists in concentrated or integrated form, but solely as the dispersed bits of incomplete and frequently contradictory knowledge which all the separate individuals possess (H.3)” a. What does Hayek mean by a “rational economic order”? b. What does Hayek mean by “dispersed bits of incomplete and frequently contradictory knowledge”? c. Why is Hayek critical of the common assumptions in economic analysis that buyers, sellers, producers and the economist all know every relevant thing about the economy? d. What, in summary, does Hayek mean by the quoted statement? 1.2. What, according to Hayek, is the information needed to operate effectively in a complex market economy? a. What does Hayek mean by “planning”? b. What is the minimum information needed by economic planners and individuals? c. Does the minimum differ for planners and for individuals? How? Why? d. What happens when some individuals possess more information than other individuals? e. What does Hayek mean when he says (H.16) “…the sort of knowledge with which I have been concerned is knowledge of the kind which by its nature cannot enter into statistics and therefore cannot be conveyed to any central authority in statistical form”? f. Why, according to Hayek, can the “information problem” be solved by “the price system”? 1.3. Why, according to Hayek, is the true function of the price system the communication of information? a. Why does Hayek use the term ‘marvel’ in his discussion of the economy of knowledge? b. What does Hayek mean when he says (H.26) “…man has been able to develop that division of labor on which our civilization is based because he happened to stumble upon a method which made it possible”? Read Robert Lucas’ “Some Macroeconomics for the 21st Century” in the Journal of Economic Perspectives. (Skip the appendix.) All four of these links go to the same article. Some of the links might not be accessible to you, but I think that at least one of them should work for all of you. https://www.aeaweb.org/articles.php?doi=10.1257/jep.14.1.159 http://www.jstor.org/stable/2647059 http://www.econ.psu.edu/~aur10/Econ%20570%20Fall%202009/Lucas%20JEP%202000.pdf http://faculty.georgetown.edu/mh5/class/econ102/readings/Macro_21st_Century.pdf 1. According to Lucas, why has the world’s economy grown so much since 1960? 2. According to Lucas, why do some nations grow faster than others? 3. According to Lucas, why will growth and inequality decrease in the next 100 years? 4. Is Lucas’ model in this paper “economics?” Read Greg Mankiw, Romer and Wiel’s article in The Quarterly Journal of Economics. http://www.econ.nyu.edu/user/debraj/Courses/Readings/MankiwRomerWeil.pdf 1. Many economists think the Solow Growth Model is of limited use. (One of my professors at OU stated that it took economists 50 years to figure out that their growth model has nothing to do with growth.) But does the Solow model give “…the right answer to the questions it is designed to address?” 2. Why is human capital important when testing the Solow model against the data? 3. Explain how the authors conclude that the incomes of the world’s nations are converging? Now that you’ve answered questions about Lucas and Mankiw et al separately, consider this question: Both of these papers develop the notion that the economies of the world’s nations will tend to “converge” over time. Compare and contrast the way(s) in which the papers advance the idea of convergence. Assignment Two Due Date July 24th This assignment is very straight forward. You’ll read two papers and answer questions about each of them. Read Krugman’s paper on unemployment http://www.kc.frb.org/PUBLICAT/ECONREV/EconRevArchive/1994/4Q94KRUG.pdf 1. What is the difference between structural and cyclical unemployment? In this context, what is the difference between Europe and the US? What is the evidence that Krugman uses to back his opinion? 2. What is the natural rate of unemployment? Why is it higher/rising in Europe? Again, what is the evidence? 3. What is the relationship between the rising unemployment in Europe and the rise in inequality in the US. (What does Krugman mean by inequality?) 4. What is NOT to blame for either the rise in unemployment or inequality? 5. What policies, if any, can be put into place to combat rising inequality/unemployment? 6. Are you convinced by Krugman’s argument which rules out globalization as the likely cause for high European unemployment and high US wage inequality? 7. Consider Table 2 in Krugman. Why does Krugman include Table 2 in his paper? In other words, what point is strengthened by the data in Table 2 and why is it crucial to Krugman’s larger thesis? NOW, recreate the data for Table 2 for either the UK or US for the latest year possible. Has anything changed as a result of the Great Recession? Read Thomas Sargent’s paper about the credibility of “Reaganonomics.” http://minneapolisfed.contentdm.oclc.org/cdm/ref/collection/p15334coll1/id/366 http://minneapolisfed.contentdm.oclc.org/cdm/singleitem/collection/p15334coll1/id/366/rec/1 You might like this: http://www.ispot.tv/ad/7Lj9/ally-bank-predictions-featuring-thomas-sargent 1. What is a dynamic game? 2. Why should we think of monetary and fiscal policy as dynamic game? Who are the players and what are the strategies? 3. When are government budgets inflationary? (Again, think in terms of a game.) 4. What are the consequences if the monetary authority does not coordinate with fiscal policy agents? 5. Has Sargent done of good job characterizing the interplay between policymakers in the government, the central bank, and the public? 6. What is the connection between policy coordination and credibility? 7. Why, according to Sargent, were Reagan’s fiscal and monetary policy regimes “incredible?” Explain carefully. Assignment Three Due Date July 31 Read Taylor, Miskin, Obstfeld and Rogoff. Answer the questions for each article, then answer the final cluster that requires you to consider Miskin, Obstfeld and Rogoff. Suggested due date: January 2nd. Read John Taylor’s article about monetary transmission mechanisms. http://web.econ.unito.it/bagliano/ecmon_readings/taylor_jep95.pdf Also, to understand traditional monetary policy, listen to this: http://www.econtalk.org/archives/2008/08/john_taylor_on.html These questions refer to the article, not the podcast. 1. How does monetary policy (or changes in monetary policy) affect output and inflation? In other words, what is the monetary policy transmission mechanism? 2. What is the importance of financial market prices in Taylor’s view? 3. What is the importance of rational expectations and rigidities in the prices of labor and goods? 4. What is a reaction function? Why is a reaction function important? 5. What is an “optimal monetary policy rule?” 6. Has the monetary transmission mechanism changed? How? 7. What are the criticisms of Taylor’s views? How does he respond? What do you think? Read Mishkin’s article about global financial instability. http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.13.4.3 1. What is a financial crisis? 2. How did adverse selection and moral hazard contribute to the financial crisis in Mexico and East Asia in the 1990s? What are adverse selection and moral hazard? 3. Did irresponsible monetary and fiscal policy contribute to the crisis in the 90s? Why or why not? 4. How is it possible for the IMF to help in a crisis when a domestic central bank might not be able to help. 5. What should the US learn (or have learned??) from the crisis in the 90s? Read Rogoff’s article about global financial instability. http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.13.4.21 http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.13.4.21 Answer the questions and place the answers in the appropriate drop box in WTClass. 1. According to Rogoff, is the status quo in international lending viable or not? Explain. 2. Can the IMF handle international financial crises? Why or why not? 3. Rogoff gives six solutions to save the global financial system (deep pockets lender of last resort, an international financial crisis manager, an international bankruptcy court, an international regulator, international deposit insurance corporation, and a world monetary authority.) What is wrong with all of these? 4. Can developing economies cope with speculative capital flows without help? Explain. 5. What will be (should be) the role that equity financing play in developing country projects? Read Obstfeld on Global Capital Markets: http://www.nber.org/papers/w6559.pdf 1. Look at table 1 and figure 1. How does Obstfeld use the data in that table to suggest that 1) markets became less open then more open in the 20th century. 2. What is the “openness trilemma?” What are the economic and/or policy trade-offs with having a global, open and integrated financial system? 3. How does economic integration impact a nation’s ability to tax capital? Can you think of some high profile cases in the news lately that illustrate this fact? (Hint: you should be able to.) 4. What is the international diversification puzzle? What market failures have arisen (if any) have arisen due to more integration and openness? Comparing Obstfeld, Miskin, and Rogoff 1. Would the authors’ advice about policies to reduce the costs of financial integration be the same? Why or why not? 2. Would the authors’ agree that we need an international regulatory body to stave off international financial crises? Why or why not? 3. What is your opinion? Is it good to have a global financial market? Why or why not? Assignment Four Due Date August 7 Straight forward assignment: Read and answer the questions. Read Arnold Kling’s history of the policies that created the great recession http://mercatus.org/publication/not-what-they-had-mind-history-policies-produced-financial-crisis-2008 1. Using only the executive summary, what does Kling think caused the Financial Crisis of 2008? (Use only one sentence.) 2. One page 5, what is “the fact?” and what does this “fact” mean to you? 3. Briefly summarize the four components of the Financial Crisis? 4. On page 10, Kling states, “These property bubbles (in the U.K. and Spain) cannot be blamed on U.S. policy.” How confident are you on that point? Is Kling wrong? 5. Kling’s matrix of causes, gives almost all weight to what two factors? What three factors are almost completely not responsible? 6. Many have blamed designer financial (my term) like CDS and CDO and the shadow banking system for the collapse. How do these fit into Kling’s narrative? 7. Outline the progression of policy that caused/responded to economic conditions in the 30s, 70s and 80s and 00s. 8. What role did the mortgage interest deduction have on housing market? 9. What institution invented and allowed the expansion of mortgage-backed securities? 10. What is regulatory arbitrage? 11. Why did the Basel agreement create an advantage for mortgage securitization? 12. Did the Federal Reserve (and presumably other regulatory agencies know and even encourage regulatory capital arbitrage? What author does Kling cite to establish this? 13. What did the 2002 modification of the Basel Rules do to capital requirements? (See figure 4) 14. Summarize the Shadow Regulatory Committee’s statement 160. 15. Did non market institutions, such as the IMF and Bernanke, think, in 2006, that financial innovation had make the banking sector more or less fragile? 16. What is time inconsistency? (You can look this up elsewhere.) 17. How might “barriers to entry” by related to “safety and soundness?” 18. A Curmudgeon is an old man who is easily annoyed and angered. He also complains a lot. (I had to look it up.) I think I’ll change my xbox gamertag to this word, but I’ll bet it is taken. 19. How did credit scoring and credit default swaps enlarge the mortgage securities market? 20. Why, up until 2007, did we think that monetary expansion was all that was needed to mitigate the impact of financial crises? 21. Suppose that financial markets are inherently unstable. What does this mean are two goals of regulation and regulators? 22. Why are type two errors so problematic? (Two reasons.) 23. How could we make the banking sector easy to fix? Assignment Five Due August 13 Read the linked lectures and answer the questions. Lecture 1 http://econlog.econlib.org/archives/2008/11/lectures_in_mac.html 1.1 Why do you think macroeconomic realities must be reconciled with microeconomic analysis? (This is not a rhetorical question, but it will be hard for you to answer. There is no “wrong” answer you could give. Just think about it for a few minutes.) Lecture 2 http://econlog.econlib.org/archives/2008/11/lectures_in_mac_1.html 2.1 Consider this article after you have read Hayek. How do prices and wages perform the function of “central planning?” 2.2 Kling makes that claim that, because most workers do not do manual labor anymore, the economy is different that it was in 1930. Assuming he is correct, do you think central planning would be harder today or easier? Why? Lecture 3 http://econlog.econlib.org/archives/2008/11/lectures_on_mac.html 3.1 Give a one sentence definition of structural unemployment, of frictional unemployment and of cyclical unemployment. Lecture 4 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_1.html 4.1 So, why does the economy adjust employment rather than wages? Lecture 5 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_2.html 5.1 Kling gives 5 reasons the DotCom recession was worse than the previous two recessions (at least in duration). Which reason do you think is the most compelling? Lecture 6 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_3.html 6.1 Why are Keynesian remedies (blunt fiscal and monetary policy measures) less appropriate in a post industrial economy, according to Kling? Lecture 7 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_4.html 7.1 Why is it so hard to separate finance and government, according to Kling? Lecture 8 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_5.html 8.1 Why is American Express Travelers Checks so interesting? Do credit cards work in a similar way? (I really don’t know the answer to this one. I just know that credit cards have made travelers checks obsolete.) Lecture 9. http://econlog.econlib.org/archives/2008/12/lectures_on_mac_6.html 9.1 According to this article, why do we have banks (financial sector or financial intermediation?) Lecture 10 http://econlog.econlib.org/archives/2008/12/lectures_on_mac_7.html 10.1 Why are banks better than barter, according to this leture? 10.2 Politics tends to favor bailouts of failed firms. Why is this exactly wrong?

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