After reading the supplement article on Business Analytics linked to the week 1 schedule, write an essay on how business analytics impacts you today, or its potential role in your chosen career path. Do research for your paper, or interview someone who works in your area. The goals of this paper are two-fold: (1) focus on high quality writing, using the COBE Writing Styles Guide for writing help and citations. (2) consider the importance of BI from a personal/work/career perspective.

After reading the supplement article on Business Analytics linked to the week 1 schedule, write an essay on how business analytics impacts you today, or its potential role in your chosen career path. Do research for your paper, or interview someone who works in your area. The goals of this paper are two-fold: (1) focus on high quality writing, using the COBE Writing Styles Guide for writing help and citations. (2) consider the importance of BI from a personal/work/career perspective.

  Business analytics importance and its potential     Introduction … Read More...
FSE 100 Extra Credit (20 points) Instructions: Read the description below and work through the design process to build an automated waste sorting system. Turn in the following deliverables in one document, typed: 1. Problem Statement – 1 point 2. Technical System Requirements (at least 3 complete sentences using “shall”) – 3 points 3. Judging Criteria (at least 3, explain why you chose them) – 2 points 4. AHP – 2 points 5. Summaries of your 3 design options (paragraph minimum for each option) – 3 points 6. Design Decision Matrix – 3 points 7. Orthographic Drawing of your final design (3 projections required) – 3 points 8. Activity Diagram of how your sorter functions – 3 points Description: The city of Tempe waste management has notified ASU that due to the exceptional effort the Sundevil students have made in the sustainability area, ASU has been contributing three times the amount of recyclable materials than what was predicted on a monthly basis. Unfortunately, due to the immense amount of materials being delivered, the city of Tempe waste management has asked for assistance from ASU prior to picking up the recyclable waste. They have requested that ASU implement an automated waste sorting system that would pre-filter all the materials so the city of Tempe can collect the materials based on one of three types and process the waste much faster. ASU has hired you to design an automated sorter, but due to the unexpected nature of this request, ASU prefers that this design be as simple and inexpensive to build as possible. The city of Tempe would like to have the waste categorized as either glass, plastic, or metal. Paper will not be considered in this design. Any glass that is sorted in your device needs to stay intact, and not break. Very few people will be able to monitor this device as it sorts, so it must be able to sort the items with no input from a user, as quickly as possible. This design cannot exceed 2m in length, width, or height, but the weight is unlimited. ASU is not giving any guidance as to the materials you can use, so you are free to shop for whatever you’d like, but keep in mind, the final cost of this device must be as inexpensive as possible. Submit through Blackboard or print out your document and turn it in to me no later than the date shown on Blackboard

FSE 100 Extra Credit (20 points) Instructions: Read the description below and work through the design process to build an automated waste sorting system. Turn in the following deliverables in one document, typed: 1. Problem Statement – 1 point 2. Technical System Requirements (at least 3 complete sentences using “shall”) – 3 points 3. Judging Criteria (at least 3, explain why you chose them) – 2 points 4. AHP – 2 points 5. Summaries of your 3 design options (paragraph minimum for each option) – 3 points 6. Design Decision Matrix – 3 points 7. Orthographic Drawing of your final design (3 projections required) – 3 points 8. Activity Diagram of how your sorter functions – 3 points Description: The city of Tempe waste management has notified ASU that due to the exceptional effort the Sundevil students have made in the sustainability area, ASU has been contributing three times the amount of recyclable materials than what was predicted on a monthly basis. Unfortunately, due to the immense amount of materials being delivered, the city of Tempe waste management has asked for assistance from ASU prior to picking up the recyclable waste. They have requested that ASU implement an automated waste sorting system that would pre-filter all the materials so the city of Tempe can collect the materials based on one of three types and process the waste much faster. ASU has hired you to design an automated sorter, but due to the unexpected nature of this request, ASU prefers that this design be as simple and inexpensive to build as possible. The city of Tempe would like to have the waste categorized as either glass, plastic, or metal. Paper will not be considered in this design. Any glass that is sorted in your device needs to stay intact, and not break. Very few people will be able to monitor this device as it sorts, so it must be able to sort the items with no input from a user, as quickly as possible. This design cannot exceed 2m in length, width, or height, but the weight is unlimited. ASU is not giving any guidance as to the materials you can use, so you are free to shop for whatever you’d like, but keep in mind, the final cost of this device must be as inexpensive as possible. Submit through Blackboard or print out your document and turn it in to me no later than the date shown on Blackboard

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As cell size increases, the volume and surface area decrease. surface area increases faster than the volume. surface area and volume increase at the same rate. volume increases faster than the surface area.

As cell size increases, the volume and surface area decrease. surface area increases faster than the volume. surface area and volume increase at the same rate. volume increases faster than the surface area.

volume increases faster than the surface area
5. Which of the following statements is CORRECT? a. If Firms X and Y have the same P/E ratios, then their market-to-book ratios must also be equal. b. If Firms X and Y have the same net income, number of shares outstanding, and price per share, then their P/E ratios must also be the same. c. If Firms X and Y have the same earnings per share and market-to-book ratio, they must have the same price/earnings ratio. d. If Firm X’s P/E ratio exceeds that of Firm Y, then Y is likely to be less risky and/or be expected to grow at a faster rate. e. If Firms X and Y have the same net income, number of shares outstanding, and price per share, then their market-to-book ratios must also be the same.

5. Which of the following statements is CORRECT? a. If Firms X and Y have the same P/E ratios, then their market-to-book ratios must also be equal. b. If Firms X and Y have the same net income, number of shares outstanding, and price per share, then their P/E ratios must also be the same. c. If Firms X and Y have the same earnings per share and market-to-book ratio, they must have the same price/earnings ratio. d. If Firm X’s P/E ratio exceeds that of Firm Y, then Y is likely to be less risky and/or be expected to grow at a faster rate. e. If Firms X and Y have the same net income, number of shares outstanding, and price per share, then their market-to-book ratios must also be the same.

Answer: b No reason for a to be true. b … Read More...
FSE 100 Extra Credit (20 points) Instructions: Read the description below and work through the design process to build an automated waste sorting system. Turn in the following deliverables in one document, typed: 1. Problem Statement – 1 point 2. Technical System Requirements (at least 3 complete sentences using “shall”) – 3 points 3. Judging Criteria (at least 3, explain why you chose them) – 2 points 4. AHP – 2 points 5. Summaries of your 3 design options (paragraph minimum for each option) – 3 points 6. Design Decision Matrix – 3 points 7. Orthographic Drawing of your final design (3 projections required) – 3 points 8. Activity Diagram of how your sorter functions – 3 points Description: The city of Tempe waste management has notified ASU that due to the exceptional effort the Sundevil students have made in the sustainability area, ASU has been contributing three times the amount of recyclable materials than what was predicted on a monthly basis. Unfortunately, due to the immense amount of materials being delivered, the city of Tempe waste management has asked for assistance from ASU prior to picking up the recyclable waste. They have requested that ASU implement an automated waste sorting system that would pre-filter all the materials so the city of Tempe can collect the materials based on one of three types and process the waste much faster. ASU has hired you to design an automated sorter, but due to the unexpected nature of this request, ASU prefers that this design be as simple and inexpensive to build as possible. The city of Tempe would like to have the waste categorized as either glass, plastic, or metal. Paper will not be considered in this design. Any glass that is sorted in your device needs to stay intact, and not break. Very few people will be able to monitor this device as it sorts, so it must be able to sort the items with no input from a user, as quickly as possible. This design cannot exceed 2m in length, width, or height, but the weight is unlimited. ASU is not giving any guidance as to the materials you can use, so you are free to shop for whatever you’d like, but keep in mind, the final cost of this device must be as inexpensive as possible. Submit through Blackboard or print out your document and turn it in to me no later than the date shown on Blackboard.

FSE 100 Extra Credit (20 points) Instructions: Read the description below and work through the design process to build an automated waste sorting system. Turn in the following deliverables in one document, typed: 1. Problem Statement – 1 point 2. Technical System Requirements (at least 3 complete sentences using “shall”) – 3 points 3. Judging Criteria (at least 3, explain why you chose them) – 2 points 4. AHP – 2 points 5. Summaries of your 3 design options (paragraph minimum for each option) – 3 points 6. Design Decision Matrix – 3 points 7. Orthographic Drawing of your final design (3 projections required) – 3 points 8. Activity Diagram of how your sorter functions – 3 points Description: The city of Tempe waste management has notified ASU that due to the exceptional effort the Sundevil students have made in the sustainability area, ASU has been contributing three times the amount of recyclable materials than what was predicted on a monthly basis. Unfortunately, due to the immense amount of materials being delivered, the city of Tempe waste management has asked for assistance from ASU prior to picking up the recyclable waste. They have requested that ASU implement an automated waste sorting system that would pre-filter all the materials so the city of Tempe can collect the materials based on one of three types and process the waste much faster. ASU has hired you to design an automated sorter, but due to the unexpected nature of this request, ASU prefers that this design be as simple and inexpensive to build as possible. The city of Tempe would like to have the waste categorized as either glass, plastic, or metal. Paper will not be considered in this design. Any glass that is sorted in your device needs to stay intact, and not break. Very few people will be able to monitor this device as it sorts, so it must be able to sort the items with no input from a user, as quickly as possible. This design cannot exceed 2m in length, width, or height, but the weight is unlimited. ASU is not giving any guidance as to the materials you can use, so you are free to shop for whatever you’d like, but keep in mind, the final cost of this device must be as inexpensive as possible. Submit through Blackboard or print out your document and turn it in to me no later than the date shown on Blackboard.

  Problem statement      ASU has been contributing three … Read More...
Fact Debate Brief Introduction Crime doesn’t pay; it should be punished. Even since childhood, a slap on the hand has prevented possible criminals from ever committing the same offense; whether it was successful or not depended on how much that child wanted that cookie. While a slap on the wrist might or might not be an effective deterrent, the same can be said about the death penalty. Every day, somewhere in the world, a criminal is stopped permanently from committing any future costs, but this is by the means of the death. While effective in stopping one person permanently, it does nothing about the crime world as a whole. While it is necessary to end the career of a criminal, no matter what his or her crime is, we must not end it by taking a life. Through this paper, the death penalty will be proven ineffective at deterring crime by use of other environmental factors. Definition: The death penalty is defined as the universal punishment of death as legally applied by a fair court system. It is important for it to be a fair legal system, as not to confuse it with genocide, mob mentality, or any other ruling without trial. Claim 1: Use of the death penalty is in decline Ground 1: According to the book The Death Penalty: A Worldwide Perspective by Roger Hood and Carolyn Hoyle, published Dec. 8th, 2014, the Oxford professors in criminology say “As in most of the rest of the world, the death penalty in the US is in decline and distributed unevenly in frequency of use” even addressing that, as of April 2014, 18 states no longer have a death penalty, and even Oregon and Washington are considering removing their death penalty laws. Furthermore, in 2013, only 9 of these states still retaining the death penalty actually executed someone. Warrant 1: The death penalty can be reinstated at any time, but so far, it hasn’t been. At the same time, more states consider getting rid of it altogether. Therefore, it becomes clear that even states don’t want to be involved with this process showing that this is a disliked process. Claim 2: Even states with death penalty in effect still have high crime rates. Ground 2: With the reports gathered from fbi.gov, lawstreetmedia.com, a website based around political expertise and research determined the ranking of each state based on violent crime, published September 12th, 2014. Of the top ten most violent states, only three of which had the death penalty instituted (Maryland #9, New Mexico #4, Alaska #3). The other seven still had the system in place, and, despite it, still have a high amount of violent crime. On the opposite end of the spectrum, at the bottom ten most violent states, four of which, including the bottom-most states, do not have the death penalty in place. Warrant 2: With this ranking, it literally proves that the death penalty does not deter crime, or that there is a correlation between having the death penalty and having a decrease in the crime rate. Therefore, the idea of death penalty deterring crime is a null term in the sense that there is no, or a flawed connection. Claim 3: Violent crime is decreasing (but not because if the death penalty) Ground 3 A: According to an article published by The Economist, dated July 23rd, 2013, the rate of violent crime is in fact decreasing, but not because of the death penalty, but rather, because we have more police. From 1995 to 2010, policing has increased one-fifth, and with it, a decline in crime rate. In fact, in cities such as Detroit where policing has been cut, an opposite effect, an increase in crime, has been reported. Ground 3 B: An article from the Wall Street Journal, dated May 28th, 2011, also cites a decline in violent, only this time, citing the reason as a correlation with poverty levels. In 2009, at the start of the housing crisis, crime rates also dropped noticeably. Oddly enough, this article points out the belief that unemployment is often associated with crime; instead, the evidence presented is environmental in nature. Warrant 3: Crime rate isn’t deterred by death penalty, but rather, our surroundings. Seeing as how conditions have improved, so has the state of peace. Therefore, it becomes clear that the death penalty is ineffective at deterring crime because other key factors present more possibility for improvement of society. Claim 4: The death penalty is a historically flawed system. Ground 4A: According to the book The Death Penalty: Constitutional Issues, Commentaries, and Case Briefs by Scott Vollum, published in 2005, addresses how the case of the death penalty emerged to where it is today. While the book is now a decade old, it is used for historical context, particularly, in describing the first execution that took place in 1608. While it is true that most of these executions weren’t as well-grounded as the modern ones that take place now, they still had no effect in deterring crime. Why? Because even after America was established and more sane, the death penalty still had to be used because criminals still had violent behaviors. Ground 4B: According to data from Mother Jones, published May 17th, 2013, the reason why the crime rate was so high in the past could possibly be due to yet another environmental factor (affected by change over time), exposure to lead. Since the removal of lead from paint started over a hundred years ago, there has been a decline in homicide. Why is this important? Lead poisoning in child’s brain, if not lethal, can affect development and lead to mental disability, lower IQ, and lack of reasoning. Warrant 4: By examining history as a whole, there is a greater correlation between other factors that have resulted in a decline in violent crime. The decline in the crime rate has been an ongoing process, but has shown a faster decline due to other environmental factors, rather than the instatement of the death penalty. Claim 5: The world’s violent crime rate is changing, but not due to the death penalty. Ground 5A: According to article published by Amnesty USA in March of 2014, the number of executions under the death penalty reported in 2013 had increased by 15%. However, the rate of violent crime in the world has decreased significantly in the last decade. But, Latvia, for example, has permanently banned the death penalty since 2012. In 2014, the country was viewed overall as safe and low in violent crime rate. Ground 5B: However, while it is true that there is a decline in violent crime rate worldwide, The World Bank, April 17, 2013, reports that the rate of global poverty is decreasing. In a similar vein to the US, because wealth is being distributed better and conditions are improving overall, there is a steady decline in crime rate. Warrant 5: By examining the world as a whole, it becomes clear that it doesn’t matter if the death penalty is in place, violent crime will still exist. However, mirroring the US, as simple conditions improve, so does lifestyle. The death penalty does not deter crime in the world, rather a better quality of life is responsible for that. Works Cited “Death Sentences and Executions 2013.” Amnesty International USA. Amnesty USA, 26 Mar. 2014. Web. 15 Mar. 2015. <http://www.amnestyusa.org/research/reports/death-sentences-and-executions-2013>. D. K. “Why Is Crime Falling?” The Economist. The Economist Newspaper, 23 July 2013. Web. 12 Mar. 2015. <http://www.economist.com/blogs/economist-explains/2013/07/economist-explains-16>. Drum, Kevin. “The US Murder Rate Is on Track to Be Lowest in a Century.”Mother Jones. Mother Jones, 17 May 2013. Web. 13 Mar. 2015. <http://www.motherjones.com/kevin-drum/2013/05/us-murder-rate-track-be-lowest-century>. Hood, Roger, and Carolyn Hoyle. The Death Penalty: A Worldwide Perspective. Oxford: Oxford UP, 2002. 45. Print. Rizzo, Kevin. “Slideshow: America’s Safest and Most Dangerous States 2014.”Law Street Media. Law Street TM, 12 Sept. 2014. Web. 12 Mar. 2015. <http://lawstreetmedia.com/blogs/crime/safest-and-most-dangerous-states-2014/#slideshow>. Vollum, Scott. The Death Penalty: Constitutional Issues, Commentaries, and Case Briefs. Newark, NJ: LexisNexis, 2005. 2. Print. Theis, David. “Remarkable Declines in Global Poverty, But Major Challenges Remain.” The World Bank. The World Bank, 17 Apr. 2013. Web. 15 Mar. 2015. <http://www.worldbank.org/en/news/press-release/2013/04/17/remarkable-declines-in-global-poverty-but-major-challenges-remain>. Wilson, James Q. “Hard Times, Fewer Crimes.” WSJ. The Wall Street Journal, 28 May 2011. Web. 13 Mar. 2015. <http://www.wsj.com/articles/SB10001424052702304066504576345553135009870>.

Fact Debate Brief Introduction Crime doesn’t pay; it should be punished. Even since childhood, a slap on the hand has prevented possible criminals from ever committing the same offense; whether it was successful or not depended on how much that child wanted that cookie. While a slap on the wrist might or might not be an effective deterrent, the same can be said about the death penalty. Every day, somewhere in the world, a criminal is stopped permanently from committing any future costs, but this is by the means of the death. While effective in stopping one person permanently, it does nothing about the crime world as a whole. While it is necessary to end the career of a criminal, no matter what his or her crime is, we must not end it by taking a life. Through this paper, the death penalty will be proven ineffective at deterring crime by use of other environmental factors. Definition: The death penalty is defined as the universal punishment of death as legally applied by a fair court system. It is important for it to be a fair legal system, as not to confuse it with genocide, mob mentality, or any other ruling without trial. Claim 1: Use of the death penalty is in decline Ground 1: According to the book The Death Penalty: A Worldwide Perspective by Roger Hood and Carolyn Hoyle, published Dec. 8th, 2014, the Oxford professors in criminology say “As in most of the rest of the world, the death penalty in the US is in decline and distributed unevenly in frequency of use” even addressing that, as of April 2014, 18 states no longer have a death penalty, and even Oregon and Washington are considering removing their death penalty laws. Furthermore, in 2013, only 9 of these states still retaining the death penalty actually executed someone. Warrant 1: The death penalty can be reinstated at any time, but so far, it hasn’t been. At the same time, more states consider getting rid of it altogether. Therefore, it becomes clear that even states don’t want to be involved with this process showing that this is a disliked process. Claim 2: Even states with death penalty in effect still have high crime rates. Ground 2: With the reports gathered from fbi.gov, lawstreetmedia.com, a website based around political expertise and research determined the ranking of each state based on violent crime, published September 12th, 2014. Of the top ten most violent states, only three of which had the death penalty instituted (Maryland #9, New Mexico #4, Alaska #3). The other seven still had the system in place, and, despite it, still have a high amount of violent crime. On the opposite end of the spectrum, at the bottom ten most violent states, four of which, including the bottom-most states, do not have the death penalty in place. Warrant 2: With this ranking, it literally proves that the death penalty does not deter crime, or that there is a correlation between having the death penalty and having a decrease in the crime rate. Therefore, the idea of death penalty deterring crime is a null term in the sense that there is no, or a flawed connection. Claim 3: Violent crime is decreasing (but not because if the death penalty) Ground 3 A: According to an article published by The Economist, dated July 23rd, 2013, the rate of violent crime is in fact decreasing, but not because of the death penalty, but rather, because we have more police. From 1995 to 2010, policing has increased one-fifth, and with it, a decline in crime rate. In fact, in cities such as Detroit where policing has been cut, an opposite effect, an increase in crime, has been reported. Ground 3 B: An article from the Wall Street Journal, dated May 28th, 2011, also cites a decline in violent, only this time, citing the reason as a correlation with poverty levels. In 2009, at the start of the housing crisis, crime rates also dropped noticeably. Oddly enough, this article points out the belief that unemployment is often associated with crime; instead, the evidence presented is environmental in nature. Warrant 3: Crime rate isn’t deterred by death penalty, but rather, our surroundings. Seeing as how conditions have improved, so has the state of peace. Therefore, it becomes clear that the death penalty is ineffective at deterring crime because other key factors present more possibility for improvement of society. Claim 4: The death penalty is a historically flawed system. Ground 4A: According to the book The Death Penalty: Constitutional Issues, Commentaries, and Case Briefs by Scott Vollum, published in 2005, addresses how the case of the death penalty emerged to where it is today. While the book is now a decade old, it is used for historical context, particularly, in describing the first execution that took place in 1608. While it is true that most of these executions weren’t as well-grounded as the modern ones that take place now, they still had no effect in deterring crime. Why? Because even after America was established and more sane, the death penalty still had to be used because criminals still had violent behaviors. Ground 4B: According to data from Mother Jones, published May 17th, 2013, the reason why the crime rate was so high in the past could possibly be due to yet another environmental factor (affected by change over time), exposure to lead. Since the removal of lead from paint started over a hundred years ago, there has been a decline in homicide. Why is this important? Lead poisoning in child’s brain, if not lethal, can affect development and lead to mental disability, lower IQ, and lack of reasoning. Warrant 4: By examining history as a whole, there is a greater correlation between other factors that have resulted in a decline in violent crime. The decline in the crime rate has been an ongoing process, but has shown a faster decline due to other environmental factors, rather than the instatement of the death penalty. Claim 5: The world’s violent crime rate is changing, but not due to the death penalty. Ground 5A: According to article published by Amnesty USA in March of 2014, the number of executions under the death penalty reported in 2013 had increased by 15%. However, the rate of violent crime in the world has decreased significantly in the last decade. But, Latvia, for example, has permanently banned the death penalty since 2012. In 2014, the country was viewed overall as safe and low in violent crime rate. Ground 5B: However, while it is true that there is a decline in violent crime rate worldwide, The World Bank, April 17, 2013, reports that the rate of global poverty is decreasing. In a similar vein to the US, because wealth is being distributed better and conditions are improving overall, there is a steady decline in crime rate. Warrant 5: By examining the world as a whole, it becomes clear that it doesn’t matter if the death penalty is in place, violent crime will still exist. However, mirroring the US, as simple conditions improve, so does lifestyle. The death penalty does not deter crime in the world, rather a better quality of life is responsible for that. Works Cited “Death Sentences and Executions 2013.” Amnesty International USA. Amnesty USA, 26 Mar. 2014. Web. 15 Mar. 2015. . D. K. “Why Is Crime Falling?” The Economist. The Economist Newspaper, 23 July 2013. Web. 12 Mar. 2015. . Drum, Kevin. “The US Murder Rate Is on Track to Be Lowest in a Century.”Mother Jones. Mother Jones, 17 May 2013. Web. 13 Mar. 2015. . Hood, Roger, and Carolyn Hoyle. The Death Penalty: A Worldwide Perspective. Oxford: Oxford UP, 2002. 45. Print. Rizzo, Kevin. “Slideshow: America’s Safest and Most Dangerous States 2014.”Law Street Media. Law Street TM, 12 Sept. 2014. Web. 12 Mar. 2015. . Vollum, Scott. The Death Penalty: Constitutional Issues, Commentaries, and Case Briefs. Newark, NJ: LexisNexis, 2005. 2. Print. Theis, David. “Remarkable Declines in Global Poverty, But Major Challenges Remain.” The World Bank. The World Bank, 17 Apr. 2013. Web. 15 Mar. 2015. . Wilson, James Q. “Hard Times, Fewer Crimes.” WSJ. The Wall Street Journal, 28 May 2011. Web. 13 Mar. 2015. .

Fact Debate Brief Introduction Crime doesn’t pay; it should be … Read More...
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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Question 1 When using NTFS as a file system, what can be used to control the amount of hard disk space each user on the machine can have as a maximum? Answer Logical drives Extended partitions Disk quotas Security Center Question 2 Pin 1 of the floppy cable connects to pin 34 of the controller. Answer True False Question 3 What is the primary cause of hard drive failures? Answer Heat Dust Dirty laser lens Moving parts Question 4 The DBR contains the system files. Answer True False Question 5 A spanned volume requires a minimum of three hard drives. Answer True False Question 6 Which situation would not be appropriate for the use of SSDs? Answer A military operation where fast access to data is critical A medical imaging office that needs high-capacity storage A manufacturing plant with heat-sensitive equipment A research facility where noise must be kept to a minimum Question 7 Why are SSDs more susceptible than mechanical hard drives to electrostatic discharge? Answer The internal battery of the SSD provides additional current. SSDs are memory. The voltage level of the SSD is lower than a mechanical hard drive. The SSD is a more fragile component. Question 8 A motherboard has two PATA IDE connectors, A and B. A is nearer the edge than B. The IDE cable from A connects to a 500GB hard drive and then to a 200GB hard drive. The IDE cable from B connects to an R/W optical drive and then to a Blu-ray optical drive. Assuming the setup is optimal, which of the following describes the 500GB hard drive? Answer Primary slave Secondary slave Primary master Secondary master Question 9 The primary IDE motherboard connection normally uses I/O address 1F0 -1F7h and IRQ 15. Answer True False Question 10 A cable with a twist is used when installing two floppy drives. Answer True False Question 11 What does partitioning the hard drive mean? Answer Dividing the hard drive up into three different sections: one for each type of file system Preparing the drive to be mounted Giving the hard drive a drive letter and/or allowing the hard drive to be seen as more than one drive Preparing the drive for an operating system Question 12 The Network Engineering Technology departmental secretary is getting a new computer funded by a grant. The old computer is being moved by the PC technicians to give to the new program facilitator in another department. Which one of the following is most likely to be used before the program facilitator uses the computer? Answer Check Now Tool Backup Tool Disk Management Tool BitLocker Question 13 What is CHKDSK? Answer A command used to scan the disk for viruses during off hours A program used to defragment the hard drive A program used to locate and identify lost clusters A command used to verify the validity of the drive surface before installing a file system or an operating system Question 14 When a disk has been prepared to store data, it has been Answer Cleaned Tracked Enabled Formatted Question 15 Where would you go to enable a SATA port? Answer CMOS BIOS Disk Management Tool Task Manager Question 16 The Windows boot partition is the partition that must contain the majority of the operating system. Answer True False Question 17 Two considerations when adding or installing a floppy drive are an available drive bay and an available power connector. Answer True False Question 18 What is the difference between a SATA 2 and a SATA 3 hard drive? Answer The SATA 3 has a different power connector. The SATA 3 device transmits more simultaneous bits than SATA 2. The SATA 3 device transmits data faster. SATA 3 will always be a larger capacity drive. The SATA 3 device will be physically smaller. Question 19 What command would be used in Windows 7 to repair a partition table? Answer FDISK FORMAT FIXBOOT bootrec /FixMbr FIXMBR Question 20 What file system is optimized for optical media? Answer exFAT FAT32 CDFS NTFS Question 21 One of the most effective ways of increasing computer performance is to increase the size of virtual memory. Answer True False Question 22 Older PATA IDE cables and the Ultra ATA/66 cable differ by Answer Where the twist occurs The number of conductors The number of pins The number of devices they can connect to Question 23 Which of the following is NOT important in assigning SCSI IDs? Answer The hard drive that the system boots to may have a preset ID. ID priority must match the order of appearance on the SCSI chain. All devices must have unique IDs. Slower devices should have higher priority IDs. Question 24 The ATA standard is associated with the SCSI interface. Answer True False Question 25 A striped volume requires a minimum of two hard drives. Answer True False

Question 1 When using NTFS as a file system, what can be used to control the amount of hard disk space each user on the machine can have as a maximum? Answer Logical drives Extended partitions Disk quotas Security Center Question 2 Pin 1 of the floppy cable connects to pin 34 of the controller. Answer True False Question 3 What is the primary cause of hard drive failures? Answer Heat Dust Dirty laser lens Moving parts Question 4 The DBR contains the system files. Answer True False Question 5 A spanned volume requires a minimum of three hard drives. Answer True False Question 6 Which situation would not be appropriate for the use of SSDs? Answer A military operation where fast access to data is critical A medical imaging office that needs high-capacity storage A manufacturing plant with heat-sensitive equipment A research facility where noise must be kept to a minimum Question 7 Why are SSDs more susceptible than mechanical hard drives to electrostatic discharge? Answer The internal battery of the SSD provides additional current. SSDs are memory. The voltage level of the SSD is lower than a mechanical hard drive. The SSD is a more fragile component. Question 8 A motherboard has two PATA IDE connectors, A and B. A is nearer the edge than B. The IDE cable from A connects to a 500GB hard drive and then to a 200GB hard drive. The IDE cable from B connects to an R/W optical drive and then to a Blu-ray optical drive. Assuming the setup is optimal, which of the following describes the 500GB hard drive? Answer Primary slave Secondary slave Primary master Secondary master Question 9 The primary IDE motherboard connection normally uses I/O address 1F0 -1F7h and IRQ 15. Answer True False Question 10 A cable with a twist is used when installing two floppy drives. Answer True False Question 11 What does partitioning the hard drive mean? Answer Dividing the hard drive up into three different sections: one for each type of file system Preparing the drive to be mounted Giving the hard drive a drive letter and/or allowing the hard drive to be seen as more than one drive Preparing the drive for an operating system Question 12 The Network Engineering Technology departmental secretary is getting a new computer funded by a grant. The old computer is being moved by the PC technicians to give to the new program facilitator in another department. Which one of the following is most likely to be used before the program facilitator uses the computer? Answer Check Now Tool Backup Tool Disk Management Tool BitLocker Question 13 What is CHKDSK? Answer A command used to scan the disk for viruses during off hours A program used to defragment the hard drive A program used to locate and identify lost clusters A command used to verify the validity of the drive surface before installing a file system or an operating system Question 14 When a disk has been prepared to store data, it has been Answer Cleaned Tracked Enabled Formatted Question 15 Where would you go to enable a SATA port? Answer CMOS BIOS Disk Management Tool Task Manager Question 16 The Windows boot partition is the partition that must contain the majority of the operating system. Answer True False Question 17 Two considerations when adding or installing a floppy drive are an available drive bay and an available power connector. Answer True False Question 18 What is the difference between a SATA 2 and a SATA 3 hard drive? Answer The SATA 3 has a different power connector. The SATA 3 device transmits more simultaneous bits than SATA 2. The SATA 3 device transmits data faster. SATA 3 will always be a larger capacity drive. The SATA 3 device will be physically smaller. Question 19 What command would be used in Windows 7 to repair a partition table? Answer FDISK FORMAT FIXBOOT bootrec /FixMbr FIXMBR Question 20 What file system is optimized for optical media? Answer exFAT FAT32 CDFS NTFS Question 21 One of the most effective ways of increasing computer performance is to increase the size of virtual memory. Answer True False Question 22 Older PATA IDE cables and the Ultra ATA/66 cable differ by Answer Where the twist occurs The number of conductors The number of pins The number of devices they can connect to Question 23 Which of the following is NOT important in assigning SCSI IDs? Answer The hard drive that the system boots to may have a preset ID. ID priority must match the order of appearance on the SCSI chain. All devices must have unique IDs. Slower devices should have higher priority IDs. Question 24 The ATA standard is associated with the SCSI interface. Answer True False Question 25 A striped volume requires a minimum of two hard drives. Answer True False

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