Category Teaching
Office hours: an accidental experiment
Every year I conscientiously hold office hours, and every year only a few students take advantage of them. The TAs' offices are just as empty. Some students even pay for private tutoring, instead of taking advantage of the free services provided by the university. This week, however, I carried out an accidental experiment.
Two (probably) unstable macroeconomic equilibria
Some people argue about whether the macroeconomy is inherently stable or unstable. I don't think that's a very useful question. Because…..it depends. And one of the things it depends on is monetary policy. And that is a useful discussion to have, because we can actually do something about monetary policy. Don't adopt a monetary policy […]
Three different ways expectations can matter. And the ZLB.
Nothing new here. Think of this as a teaching post. Partly for the people of the concrete steppes, but for others too. I'm just going to talk about different ways that expectations can affect what happens. The main distinction is between multiple equilibria and unique equilibrium.
Too much stuff: the deadweight loss from overconsumption
In a simple supply and demand world there are two sources of waste. Underconsumption is the first. It occurs when taxes, price ceilings, price floors or other interventions prevent the economy from reaching the free market equilibrium. Consumers would like to buy, suppliers would like to sell, but they cannot make a mutually beneficial exchange […]
Why indifference curves are so hard to understand
Look at these curves. I see boobs like this all the time Every year, come exam time, students make mistakes that reveal a fundamental lack of understanding of indifference curves. They write "price" and "quantity" on the axes of their indifference curve diagrams, instead of "apples" and "oranges." They shade in the area below […]
Dutch Capital Theory
Very few economists are aware of Dutch Capital Theory (DCT to us insiders). It was invented by my ancestor Nick van Rowe, over a century ago, but has been suppressed by a conspiracy of silence and ignorance ever since. Think of this as a teaching post.
Joint outputs
There's something a bit weird about the way we normally do economics. Or maybe it's just the examples we normally use. My mind isn't quite clear on it yet. So I'm writing this blog post. We usually talk about multiple inputs producing one output. Labour, land, and capital are inputs used to produce apples. Three […]
Flowcharts as models
Give an economist a problem such as "Why do people waste their time playing video games?" and she'll typically model it like this:
The Loanable Funds and other theories
This is a long and boring post. (Though some will no doubt find it highly controversial, and a very few might even get over-excited). It might be useful for economics students who want to put the Loanable Funds theory into perspective. They are my main intended audience. And maybe for those who teach them too. […]
No, you may not speak to my class
Because I would be abusing my authority if I said "yes". So you shouldn't even ask. [Updated: see below] This post is about teaching economics, though it could be about teaching anything else. It's also about allocating scarce resources between competing ends, which is the subject matter of economics.
Worthwhile Canadian Initiative 
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