Doviak ... Economics and Public Policy Analysis

Thank You!
(Thurs. 27 May 2010 at 22.25)

Students,

As I mentioned on the email list this morning, I was quite pleased with the group's performance on the final exam. Everyone exhibited a basic understanding of the main concepts and the overwhelming majority did exceptionally well.

I posted the grades this evening. If any of you would like to review your exam with me, please send me a private email and we'll schedule a meeting for next week.

Most importantly ... Thank you for your patience. Thank you for asking good questions. Thank you for keeping the class lively and interesting. Thank you for a wonderful semester.

I enjoyed working with all of you and I wish you the very best of luck.

Regards,
- Eric Doviak

57 exams, 66 students
(Sun. 23 May 2010 at 00.25)

To date, I have received 57 exams. There are 66 students registered for this course.

So if you are one of the 9 students whose name is not on the list below or on one of the two previous lists, then I highly recommend that you bring a copy of your exam to my apartment today (Sun. 23 May) along with a damn good explanation of why you deserve special consideration that your classmates did not get.

I'm trying very hard not to fail any students. Don't make it difficult on me.

Here are the 35 students from whom I recently received an exam:

Students,

In addition to the list I posted yesterday, I received exams from the following students today:

[[ DELETED ]]

The exams are due tomorrow (Fri. 21 May), so if your name is not on one of these two lists, then please make sure that I receive it tomorrow (Fri. 21 May).

If you're planning to deliver it in person, then please come after 7:30 pm (because I probably will not reach home until 7:30 pm).

- Eric Doviak

Students,

As promised, I am sending the names of students from whom I have received an exam.

[[ DELETED ]]

If your name is not on that list, then I have not received your exam yet, so please make sure that I receive your exam by Friday, so that I can grade them over the weekend.

For those of you who plan to deliver it in person, I have included directions below.

Regards,
- Eric Doviak

Directions

[[ DELETED ]]

Students,

As discussed in class, your final exam will be a "mail-in" exam. Please send your answers to me via regular postal mail. I have included the mailing instructions in the PDF file. Most importantly, I want to receive the exams no later than Fri. 21 May.

Also, question 4 should be amended to read: "Given your answer to the previous questions, EXPLAIN why Ukraine's unemployment rate was lower than Estonia's between 1993 and 1998. What were the consequences?"

In other words, after you discuss the reasons why Ukraine had a lower unemployment rate, you have to list some of the consequences. The consequences that you list may be long-run or short-run consequences or both.

Good Luck!
- Eric Doviak

Students,

In five years of teaching in the CUNY system, I have never seen a tighter end-of-semester schedule.

According to the BMCC academic calendar, the last day of classes is Wed. 19 May. Because our class follows Mon./Wed. schedule, the "proper" date of the final exam is Mon. 24 May.

The academic calendar also states that final grades are due Thurs. 27 May, so if I were to follow the rules, I would have to take at least two days off from work to grade the exams and submit the final grades on time.

BMCC does not pay me enough to take two days off from work, so I have no intention of following the rules.

Instead, I will pass out copies of the final exam in class on Wed. 12 May. It will be a "mail-in" final and I will want to receive your exam on or before Fri. 21 May (so that I can grade them over the weekend).

To that end, here's the schedule for the remainder of the semester:

26 and 28 April -- Lecture 10 -- "Money and Inflation in the Long Run"
03 and 05 May -- Lecture 11 -- "Economic Fluctuations: the Goods Market"
10 and 12 May -- Lecture 12 -- "Economic Fluctuations: the Goods and Money Markets"
17 and 19 May -- NO class

The primary focus of the final exam will be Lectures 10, 11 and 12, but the exam will also draw on our discussion of economic growth.

...

Also, as we agreed in class, the make-up exam is supposed to be due two weeks from the time that I returned the mid-term exam. In other words, it is supposed to be due on Mon. 03 May. In practice, I will not have a chance to look at them until the weekend, so the real due date is Wed. 05 May.

...

OK. Now let's have a little fun.

Since we're discussing the Federal Reserve and how it conducts monetary policy, take a look at this YouTube video.

Students at Columbia Business School produced the video in 2006 to cheer up their Dean, Glenn Hubbard, who had hoped to become Chairman of the Federal Reserve when Alan Greenspan retired. Instead, Pres. Bush tapped Ben Bernanke for the job.

So the video is a parody in which Hubbard sings about his jealousy.

Hopefully, you will find it amusing. I also hope that it will be a good learning tool.

As you watch the video, write down the economics terms that "Hubbard" sings, look them up in a dictionary of economics and ask me about them in class.

Enjoy!
- Eric Doviak

As promised in class this evening, I am posting the make-up exam. It is, of course, required for those of you who received a grade of MU on the exam. Those of you who would like to improve your score on the mid-term may also submit a make-up exam.

Also, please read the 02 Oct 2008 article from the Economist magazine about the tasks confronting the Federal Reserve during the financial crisis and the Dec. 2009 article from the New York Fed on excess reserves. The articles will help you understand how the Federal Reserve conducts monetary policy.

The mid-term exam will be held in class on Wed. 07 April. Click HERE to download a copy of the exam.

Please work together and help each other master the material. I would love to see everyone earn an A.

Good Luck!,
- Eric Doviak

We are currently covering Economic Growth. You should read Lectures 4, 5 and 6 and Frank/Bernanke chaps. 8 and 9.

- Eric Doviak

(Wed. 10 Feb. 2010 at 10.00)

BMCC will close at noon today. There will be no class this evening.

Our next classes will be on Wed. 17 Feb. in S755 and Thurs. 18. Feb. in N404. (All classes follow a Monday schedule on Thurs. 18 Feb.)

Enjoy the snow!
- Eric Doviak

Students,

The National Weather Service is predicting a very large snowfall tomorrow (Wed. 10 Feb.). Most of the accumulation is expected to occur during the day and evening. Nonetheless, BMCC has not cancelled tomorrow's classes yet.

If there is heavy accumulation tomorrow evening, many of us would have extreme difficulty returning home. So here's the plan:

If BMCC cancels class, then class is (obviously) cancelled.
If BMCC does not cancel class, then I will make a decision as to whether or not we will hold class. I will make that decision prior to 3:00 pm tomorrow, post it to this website and send it to the email list.

Also, one of your classmates (who wishes to remain anonymous) discovered that Amazon is selling used copies of the previous edition of the textbook for $1. That's right! One dollar! (plus shipping and handling). So if you have not already purchased a copy, that would be a good copy to buy.

Regards,
- Eric Doviak