This is the course blog for Econ 300. It will be used for discussions about the course material and to relate the course material to current events in the news. You are free to post on the site, but must use your real name in all posts. Constructive participation in the blog may impact your grade in a positive direction.
posted by Professor Cramton at
9:53 AM
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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http://www.economist.com/displayStory.cfm?story_id=13326106&source=most_commented
http://www.businessweek.com/bwdaily/dnflash/content/mar2009/db20090330_904949.htm?chan=top+news_top+news+index+-+temp_news+%2B+analysis
This article discusses the step that the current administration took to place a "benchmark" that a company must meet in order to recieve further funding. It will be very interesting to see if this policy will prove to be a smart economic decision. As the author states in the article, "Firing a leader without knowing whether the successor will prove any better is riskier than keeping an executive in place." And we all know the economic importance of keeping GM afloat in this recession.
http://www.economist.com/opinion/displaystory.cfm?story_id=13362879
About the G20 summit on April 2nd.
This article talks about how the relaxation of mark-to-market rules for banks may undermine a larger U.S. Treasury plan to rid the banks of their toxic assets.
I apoligize, the first comment on the article i just posted does not talk about the relaxation of mark-to-market rules for banks but rather it talks about how a tweak by the Treasury Department to its contracts with banks could cost taxpayers billions of dollars if the government exercises its right to purchase common stock in the firms.
A summary of topics discussed at the G-20 Summit
http://finance.yahoo.com/news/Meltdown-101-What-G20-leaders-apf-14842134.html;_ylt=A0wNc9LJHNZJvgYAVAa7YWsA?sec=topStories&pos=9&asset=TBD&ccode=TBD
http://online.wsj.com/article/SB123875775797386333.html
A very interesting article on loan remodification and restructuring. Many loans that are being modified still result in higher payments for borrowers.
At G-20, China takes stage as global economic power
http://www.economist.com/finance/displaystory.cfm?story_id=13415153
This article discusses Japans crumbling economy.
http://www.washingtonpost.com/wp-dyn/content/article/2009/04/02/AR2009040203743.html
This is an interesting column by Steve Pearlstein of the Washington Post that describes the substantive reforms that came out of the G-20 summit in London. At the summit, the leaders of the G-20 countries and their finance ministers agreed to infuse one trillion dollars into the world economy by means of the International Monetary Fund. More importantly Pearlstein cites that the world powers agreed to stricter regulations on the global financial system. Pearlstein states that for once in a long time, world leaders agreed to substantive change to aid in the recovery and long-term health of the global economy. Because of the interconnectedness of the world, a crisis in one country can bring the rest of the global economy down with it.
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