Article of the Week: 1 Feb
Congratulations to Brian Conway, winner of Article of the Week (1 Feb)!
posted by Professor Cramton at
10:03 AM
27 January 2009
About Me
- Name: Professor Cramton
- Location: Bethesda, MD
Peter Cramton is Professor of Economics at the University of Maryland. Since 1983, he has conducted research on auction theory and practice. This research appears in the leading economics journals. The main focus is the design of auctions for many related items. Applications include spectrum auctions, electricity auctions, and treasury auctions. On the practical side, he is Chairman of Market Design Inc., an economics consultancy founded in 1995, focusing on the design of auction markets.
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7 Comments:
http://www.economist.com/finance/displaystory.cfm?story_id=13021961
This is the perfect article of the week.
In this article Olivier Blanchard talks about what policy makers should do to reduce uncertainty. He says that they need to assign values to troubled assets. In an interview with PBS this evening Professor Cramton explains how his auctioning program can assign values to troubled assets. Additionally, the article discusses key terms that were covered in lecture today (i.e. global maximum, consumption, demand, utility)
Brian Conway
The GDP Report came out today and it shows the economy contracted 3.8 % per year from October through December, compared with the previous three months. While this is better news than was expected, it shows that we are slipping into a deeper recession. This article is kind of light on the math but I think it is important because it explains where we are at this point in time.
http://www.washingtonpost.com/wp-dyn/content/article/2009/01/30/AR2009013001138.html?hpid%3Dtopnews&sub=AR
http://www.themathpage.com/index.html
For anyone that needs help with math this is the best website I've found. It is very user friendly and explains everything in detail. It covers most of high school math and has sample problems for people to do.
http://www.youtube.com/user/khanacademy?blend=1
I have also found this youtube.com channel - Khan Academy - to be useful for math as well as some other topics.
As the global economy has worsened fast, Japan’s Nikkei stock average is likely to be affected greatly on Monday. Many big companies, such as Cannon, Honda Motor Co, and Sharp have reported that they are suffering a great number of losses due to the world economy shrank. according to the article, Hitachi Ltd has reported that they have about $7.8 billion loss so far. Many market players are waiting for some new economic stimulus policies, and some of them are concerned about if the U.S government will plan to build a “bad bank” to soak up bad assets in stead of putting more pressure into the market.
http://economictimes.indiatimes.com/Markets/articleshow/4061533.cms
http://www.cnbc.com/id/28964369 (CNBC article)
This article explains how consumers, who account for approximately two-thirds of all economic activity in U.S, are increasingly saving their income. This is a contrast to the strong spending/weak savings activity among consumers we have witnessed in the past years prior to this recession. Economists explain how this refusal to spend among consumers is detrimental to the economy because it results in companies cutting costs (i.e. layoffs), thus further deepening this recession.
Khalil Betbout
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