Monday, July 20, 2009
July 20
Today we were at CSC for the day. We went through our powerpoint in Kelli's rooom. It took a total of about 18 minutes all together. We had to make a few minor changes to the powerpoint to get everything running smoothly but overall its a good presentation. We have mastered the clicking! =]
Monday Morning Get-Together
Today we met at CSC and went over the PowerPoint as a whole show. We went over it for comments and we received a rubric over what a presentation should look like. It outlines organization, subject knowledge, media, mechanics, elocution. We are striving for a 7-8 in all categories which is the best you can score. We have decided that we will stand with 2 on either side of the screen and click for each other so we do not have to toss the clicker across the aisle. While sitting in the lounge we went over the clicking sequence and I will be clicking Justin's slides.
Friday, July 17, 2009
July 17th
Today we discussed the powerpoint more. I wanted to add another slide in my part that has the different types of unemployment. We also added the quotes to the divider pages. We are going to meet monday morning at 9 am at csc to go over the powerpoint more.
We have been discussing the presentation. A few changes were made to the PowerPoint. I feel we should have one more expert opinion in the presentation. I feel we should have more than one point of view on how to end the recession. The one expert opinion we have only involves banking and how banks can get us out. I feel we should have something about how to fix the unemployment and how inflation can be controlled and reduced in the countries with inflation. We are going to practice our presentation Monday at CSC.
Friday Discussion
We changed some more things today. Kendra added a slide for types of unemployment. I added the words of the quotes onto new slides to act as a cue. We also talked about public speeking and we are meeting Monday morning at 9 A.M. to go over this presentation.
presentation
today yet again we discussed the presentation. we debated whether or not to add more expert opinions and eventually decided that it would be unnecessary. we then made one more run through the powerpoint to find any parts that would need to be changed due to errors or to flow better with the oral part of the presentation. and we decided to meet at sandburg monday morning for one last practice before the actual presentation monday
Thursday, July 16, 2009
July 16th
Today we decided to put quotes into the presentation. We finally decided on what quotes to use and we are putting them on the divider pages in the PowerPoint.
Unemployment Quote - Justin will say.
"We believe that if men have the talent to invent new machines that put men out of work, they have the talent to put those men back to work."
-JFK
Solution Quote - I will say.
"It isn't that they can't see the solution, it's that they can't see the problem."
-G.K. Chesterson
Production Quote - Kristine will say.
"Consumption is the sole end and purpose of all production."
-Adam Smith
Inflation Quote - Sawyer will say.
"Inflation is when you pay fifteen dollars for the ten dollar hair cut you used to get for five dollars when you had hair."
-Sam Ewing
and we also have a pretty sweet video at the end of our presentation.
http://www.youtube.com/watch?v=5o9nmUB2qls&feature=related
and now all we have to worry about is presenting it. :)
Unemployment Quote - Justin will say.
"We believe that if men have the talent to invent new machines that put men out of work, they have the talent to put those men back to work."
-JFK
Solution Quote - I will say.
"It isn't that they can't see the solution, it's that they can't see the problem."
-G.K. Chesterson
Production Quote - Kristine will say.
"Consumption is the sole end and purpose of all production."
-Adam Smith
Inflation Quote - Sawyer will say.
"Inflation is when you pay fifteen dollars for the ten dollar hair cut you used to get for five dollars when you had hair."
-Sam Ewing
and we also have a pretty sweet video at the end of our presentation.
http://www.youtube.com/watch?v=5o9nmUB2qls&feature=related
and now all we have to worry about is presenting it. :)
July 16th Progress
Today we chose 4 quotes to be said by other members of the group on the divider pages on our PowerPoint Presentation. I think this will be effective as we have some pretty good quotes that we have uncovered. I will be saying the quote that will be said during the inflation slide. We will not be putting the quotes directly on the slide, they will just be said. Tomorrow we will be deleting things off of the slide to make it more outliney.
Wednesday, July 15, 2009
July 15th
Today we talked about how to improve our PowerPoint to make it more fun and interesting. We came up with an idea to insert quotes from people. Here are a couple I found that might work somewhere.
"Governments view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidise it."
-Ronald Reagan
http://thinkexist.com/quotes/with/keyword/economy/
"The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy."
-Milton Friedman
http://thinkexist.com/quotes/with/keyword/economy/
"Inflation is as violent as a mugger, as frightening as an armed robber, and as deadly as a hit man"
-Ronald Reagan
http://www.myfamousquotes.com/?tid=268
"I don't mind going back to Daylight Saving Time. With inflation, the hour will be the only thing I've saved all year."
-Victor Borge
http://www.quotedaddy.com/tag/Inflation/2
"If all the time consumed in attending dinners and luncheons was consumed in some work, the production of this country would be doubled."
-Will Roger
http://thinkexist.com/quotes/with/keyword/production/
"The production of too many useful things results in too many useless people."
-Karl Marx
http://thinkexist.com/quotes/with/keyword/production/
"Inflation is when you pay fifteen dollars for the ten dollar hair cut you used to get for five dollars when you had hair."
-Sam Ewing
http://thinkexist.com/quotes/with/keyword/inflation/
That's all. =]
"Governments view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidise it."
-Ronald Reagan
http://thinkexist.com/quotes/with/keyword/economy/
"The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy."
-Milton Friedman
http://thinkexist.com/quotes/with/keyword/economy/
"Inflation is as violent as a mugger, as frightening as an armed robber, and as deadly as a hit man"
-Ronald Reagan
http://www.myfamousquotes.com/?tid=268
"I don't mind going back to Daylight Saving Time. With inflation, the hour will be the only thing I've saved all year."
-Victor Borge
http://www.quotedaddy.com/tag/Inflation/2
"If all the time consumed in attending dinners and luncheons was consumed in some work, the production of this country would be doubled."
-Will Roger
http://thinkexist.com/quotes/with/keyword/production/
"The production of too many useful things results in too many useless people."
-Karl Marx
http://thinkexist.com/quotes/with/keyword/production/
"Inflation is when you pay fifteen dollars for the ten dollar hair cut you used to get for five dollars when you had hair."
-Sam Ewing
http://thinkexist.com/quotes/with/keyword/inflation/
That's all. =]
Famous Quotes or Just Quotes for PowerPoint
Here is a list of quotes that could be incorporated into our PowerPoint:
1. By Warren Buffett-"In the business world, the rear view mirror is always clearer than the windshield."
2. By Kim Hubbard-"It is pretty hard to tell what does bring happiness, poverty and wealth have both failed"
3. By Ogden Nash-"People who work sitting down get paid more than those who work standing up"
4. By Chester Bowles "There can be no real individual freedom in the presence of economic insecurity"
5. By Richard Feynman "There are 100,000,000,000 stars in the galaxy. That used to be a huge number. But it's only a hundred billion. It's less then the national deficit! We used to call them astrological numbers. Now we should call them economical numbers"
I think these might be able to be incorporated somewhere into the presentation. The website I got them from is http://www.quotationspage.com/subjects/
1. By Warren Buffett-"In the business world, the rear view mirror is always clearer than the windshield."
2. By Kim Hubbard-"It is pretty hard to tell what does bring happiness, poverty and wealth have both failed"
3. By Ogden Nash-"People who work sitting down get paid more than those who work standing up"
4. By Chester Bowles "There can be no real individual freedom in the presence of economic insecurity"
5. By Richard Feynman "There are 100,000,000,000 stars in the galaxy. That used to be a huge number. But it's only a hundred billion. It's less then the national deficit! We used to call them astrological numbers. Now we should call them economical numbers"
I think these might be able to be incorporated somewhere into the presentation. The website I got them from is http://www.quotationspage.com/subjects/
presentation
today we talked about our practice presentation we did yesterday in front of kelli's class and discussed how we could improve upon it. we considered the possibilities of adding quotes and adding a video or two in order to make the whole presentation more lively. we also discussed what we did wrong in yesterday's presentation and how we could fix it
Tuesday, July 14, 2009
Preliminary Presentation at CSC
Today we all met at CSC and after some technical difficulties we were able to run through our presentation with ourselves and then once with Lori. She gave us some feedback and then we presented it to Kelli's class. They were instructed to write down some of their ideas on a sheet a paper so we could look at them later. After the presentation we went back to the board room and found a little movie to attach to the end of the PowerPoint. I do not know if it is a 100% definite ending that will be used but I think that it is a very good movie that makes you think.
Monday, July 13, 2009
July 13th
Today we reviewed the powerpoint again. We made some changes to it as always. By the end of the day, we had it ready to be presented. Tomorrow we will present the whole presentation to Lori in the morning at 10:30 and then to Kelli's class at 10:45. Hope it goes well.
presentation
today we went through the powerpoint again to find more little things that could be improved on. we decided when we meet tomorrow we will do a practice presentation in front of Lori to get some feedback and then we will go in front of kelli's class after for another practice presentation
Revisions
Today we went over the PowerPoint slide by slide. The group made input and I made the changes. We are still struggling with a good ending. Tomorrow when we present we will be receiving feedback so maybe someone will be able to help. Tonight I made note cards to be used for the presentation tomorrow. I have then for slides 2-5 and 20-23.
Friday, July 10, 2009
July 10th PowerPoint
Today we revised the PowerPoint with the group slide by slide. We did not get all the way through the show; therefore, the group needs to post their ideas or send them to me in an email. I will make the changes by Sunday night and will get it emailed to the entire group so we can look at it Monday morning. We also discussed today that we do not have to put everything on a slide that we want to say. We will have stuff that we say that will be in addition to the slide. We will have to figure out what we want to say during the slides. I suggest that on Tuesday at CSC we print off the slides with the format that gives you lines next to each slide so we can map out exactly what we want to say when and where. I think this will be useful. That is all I have for now, if I come across any problems with the PowerPoint I will either Blog or email.
July 10th
Today we just reviewed the powerpoint even more. We are getting closer to being done even though there is still more that needs revised.
Changes I think need to be made to our PowerPoint:
Slide 11
Slide 11
- Needs bullets instead of arrows
- Title change to "Zimbabwe's Industries"
Slide 12
- Overloaded - take out some facts for person to say
- Change title to Argentina's Industries
Slide 13
- Title change to Romania's Industries
Slide 14
- Title change to United State's Industries
- Don't overlap words - remove some industries and products so the person has more to say and the fact about the US being the world's largest importer can go at the bottom or be removed
Slide 18
- Hyperinflation is off the slide - reduce amount of space between lines
Slide 19
- Move picture over so words aren't on top - kind of difficult to read
Slide 20
- Use a dash (-) in the title instead of equals (=)
I feel the titles in slides 11 though 14 should be consistent. I think a plain and simple title would be best since it is a PowerPoint and not a typed paper for school where you need complete sentences. The other changes I suggested I feel will make the PowerPoint look cleaner and more professional.
Thursday, July 9, 2009
We have been working on revising our PowerPoint. We discussed how to fix problems such as hard to read slides and awkward transitions. We selected pictures to include in some of the slides. We are working on trying to create a better thesis statement. We selected who will hand out shirts, who will talk about our research and field trips, etc. We will continue to revise the PowerPoint and try to create a better thesis statement along with trying to come up with ways to create an entertaining and insightful presentation showing the board what we learned.
Power Point Reminders!
As you all will be happy to know...as of right now the PowerPoint is finished but with 2 exceptions:
1) We need to make our thesis different or we need to take that slide out all together. If we changed it, we would have to make it provable because right now it is a statement of what we have done. If we take it out Kendra can use it in her speech about who what when where why and how. Let me know...
2) It has been suggested that we should have a question at the end to make a definitive ending. In the PowerPoint sent in your emails the slide is on there with some that I thought up really quick. I am open for suggestions! If you do not like the idea of a question...whether rhetorical or not...we need to have a final sounding slide
I believe those two are the main issues at hand right now and after we get them resolved the PowerPoint should but a millimeter from the finish line. I hope to get the answers to these questions and what I should do tomorrow morning on Skype.
Kendra will also be sending me her slides to help her go through her 6 W's speech! I will add them to the very beginning of this show so it will all flow into one another.
I am glad to be done with the main parts of the slide show...and now I hate technology!
1) We need to make our thesis different or we need to take that slide out all together. If we changed it, we would have to make it provable because right now it is a statement of what we have done. If we take it out Kendra can use it in her speech about who what when where why and how. Let me know...
2) It has been suggested that we should have a question at the end to make a definitive ending. In the PowerPoint sent in your emails the slide is on there with some that I thought up really quick. I am open for suggestions! If you do not like the idea of a question...whether rhetorical or not...we need to have a final sounding slide
I believe those two are the main issues at hand right now and after we get them resolved the PowerPoint should but a millimeter from the finish line. I hope to get the answers to these questions and what I should do tomorrow morning on Skype.
Kendra will also be sending me her slides to help her go through her 6 W's speech! I will add them to the very beginning of this show so it will all flow into one another.
I am glad to be done with the main parts of the slide show...and now I hate technology!
presentation
today we talked more about the presentation and the powerpoint. sawyer took suggestions to make it better and we took other responsibilites for the presentation such as handing out shirts to the board members and explaining the blog.
July 9, 2009
Today we discussed more of our powerpoint. We tried to all be able to see changes being made on webex but that didn't work out so well. We pretty much have our presentation down. We all do the actual presentation of course. To start it out, I will begin it talking about the internship, explaining everything. Kristine will explain about the blog and Justin will hand out the shirts, in what ever way he decides to. =] Sawyer of course doesn't get anything extra special because she is the madwoman behind putting the presentation slideshow together. We talked about changes that need to made to the presentation and also what needs to be added. We decided to add pictures to liven it up a wee bit.
Today I also began to work on my little speil about the internship. The who, what, when, where, why and how! It's more difficult then I thought because I only have about 5 minutes.
Thats all folks!
(Porkie the Pig) =]
Today I also began to work on my little speil about the internship. The who, what, when, where, why and how! It's more difficult then I thought because I only have about 5 minutes.
Thats all folks!
(Porkie the Pig) =]
powerpoint
for the powerpoints we all made our separate slides for our respective topics, (sawyer did background, kristine did inflation, kendra did unemployment and i did production.) then we sent them to sawyer who will be putting all the slides together for our final slide show. we will edit and make them better over the next week
Wednesday, July 8, 2009
We have decided that we are going to make a PowerPoint for our final presentation. Today we discussed which background we thought would be best and selected the background we will use. We discussed how we wanted the lettering to be in the slides and which colors should be used. We each created at least one slide about our given topic and compiled them into one slide show. We will be working on our final presentation - working out the order, who will do what, etc. We will use information from our countries in the presentation.
July 8, 2009
Today we started to put together our slide show presentation.
Sawyers slides were first with the overview of a recession. In her slides, she included
-our thesis statement
-what a recession is
-similarities in a recession
-what a recession looks like
Next we will cover Unemployment, Production, and then Inflation.
I did Unemployment. I gave background information on what unemployment is and how is it equated. I also stated each countries unemployment rate. I also added a graph in there to show the ups and downs of unemployment, which Justin posted in an earlier blog.
Justin's slides were about production. To sum up his slides, he just named the products that each country produce.
Kristine's slide was about inflation. She explained what inflation is and how it happens. She also named the different types of inflation. To wrap it up, she named the inflation rate of our countries.
Sawyer is doing the ending slides. It includes
Sawyers slides were first with the overview of a recession. In her slides, she included
-our thesis statement
-what a recession is
-similarities in a recession
-what a recession looks like
Next we will cover Unemployment, Production, and then Inflation.
I did Unemployment. I gave background information on what unemployment is and how is it equated. I also stated each countries unemployment rate. I also added a graph in there to show the ups and downs of unemployment, which Justin posted in an earlier blog.
Justin's slides were about production. To sum up his slides, he just named the products that each country produce.
Kristine's slide was about inflation. She explained what inflation is and how it happens. She also named the different types of inflation. To wrap it up, she named the inflation rate of our countries.
Sawyer is doing the ending slides. It includes
-an overview of what we need according to Jamie Dimon
-and what we, as consumers, need to do
That so far is our slideshow. For when we have our presentation, we need one person to talk to the board members and tell them about the internship over these four weeks. I volunteered myself to do that. We also need a person to hand out shirts to the board members, and someone to explain our blog.
And that's all for now. =]
Power Point Design
Today we decided that I would compile slides sent to me by the rest of the groups. After some compatibility issues we came out ok. Adter reveiw and putting together the slides I have a few observations/suggestions to think about tomorrow morning:
-I Added divider pages for unemployment, production, and inflation so it would flow from my last slide
-Changed Justin’s slides to red so they matched his blog (let me know if you want it changed back!)
-Kristine's slide is jammed packed with good information so i think we should break her slide into 3 slides
-Kendra’s 1st slide you cannot read on the bottom very well maybe make it a tad lighter or darker green to show up or just make a new slide?
-I used navy blue for my slides because I did not think that the aqua that I use for my blogs would show up
-I left the first title slide all white text as well as the thesis slide because they technically belong to no one
-Justin could maybe combine Romania and Zimbabwe so there is not so much open space.
**Let me know your guy's suggestions so I can make changes
-I Added divider pages for unemployment, production, and inflation so it would flow from my last slide
-Changed Justin’s slides to red so they matched his blog (let me know if you want it changed back!)
-Kristine's slide is jammed packed with good information so i think we should break her slide into 3 slides
-Kendra’s 1st slide you cannot read on the bottom very well maybe make it a tad lighter or darker green to show up or just make a new slide?
-I used navy blue for my slides because I did not think that the aqua that I use for my blogs would show up
-I left the first title slide all white text as well as the thesis slide because they technically belong to no one
-Justin could maybe combine Romania and Zimbabwe so there is not so much open space.
**Let me know your guy's suggestions so I can make changes
Tuesday, July 7, 2009
production
the u.s. produces wheat, corn, other grains, fruits, vegetables, cotton, beef, poultry, dairy products, fish and forest products and has industries in petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, and mining. it is also the worlds largest importer of goods.
argentina-• Grains (wheat, maize, sorghum and minor cereals): 41.9 million tons
• Oilseeds (soybean, sunflower and minor oilseeds): 51.5 million tons
• Pip fruits (pear and apple): 1.93 million tons
• Citrus (grapefruit, orange, lemon and tangerines): 3.09 million tons
• Honey: 115,000 tons
• Wines: 15.4 million hectoliters. Musts: 6.3 million hectoliters
• Beef: 3.1 million tons
• Pork: 198,050 tons
• Poultry: 1.15 million tons
• Milk: 9,611 million liters
• Wool: 76,500 tons
romania-Major Exports from Romania include footwear, textiles, metals, chemicals, machinery and agricultural goods.
cites- production hub, https://www.cia.gov/library/publications/the-world-factbook/geos/US.html, http://www.inta.gov.ar/ins/en/prodexports.htm
argentina-• Grains (wheat, maize, sorghum and minor cereals): 41.9 million tons
• Oilseeds (soybean, sunflower and minor oilseeds): 51.5 million tons
• Pip fruits (pear and apple): 1.93 million tons
• Citrus (grapefruit, orange, lemon and tangerines): 3.09 million tons
• Honey: 115,000 tons
• Wines: 15.4 million hectoliters. Musts: 6.3 million hectoliters
• Beef: 3.1 million tons
• Pork: 198,050 tons
• Poultry: 1.15 million tons
• Milk: 9,611 million liters
• Wool: 76,500 tons
romania-Major Exports from Romania include footwear, textiles, metals, chemicals, machinery and agricultural goods.
cites- production hub, https://www.cia.gov/library/publications/the-world-factbook/geos/US.html, http://www.inta.gov.ar/ins/en/prodexports.htm
July 7, 2009 CSC
Here is my outline that is what i came up with so far.
- Unemployed workers are those who are currently not working but are willing and able to work for pay, currently available to work, and have actively searched for work
- Labor force is the total number of people employed or seeking employment in an area
-It is surveyed every month
Production -Justin
Inflation-Kristine
Ways to get out of a Recession
Thesis: In studying Economics, we have found common bonds between four countries and we are looking for a plan that may help countries around the world to end or avoid a recession.
Overview of Recession
Unemployment Rate-Kendra
-Unemployment occurs when a person is able to work and is searching for work but is currently not working.
-Romania-May 2009- 5.8%
-U.S. - May 2009- 9.4%
-Zimbabwe- January 2009- 94%
-12 million people in the country but only 480,000 people have jobs
-Argentina- April 2009- 8.4%
Overview of Recession
Unemployment Rate-Kendra
-Unemployment occurs when a person is able to work and is searching for work but is currently not working.
-Romania-May 2009- 5.8%
-U.S. - May 2009- 9.4%
-Zimbabwe- January 2009- 94%
-12 million people in the country but only 480,000 people have jobs
-Argentina- April 2009- 8.4%
- Unemployed workers are those who are currently not working but are willing and able to work for pay, currently available to work, and have actively searched for work
- Labor force is the total number of people employed or seeking employment in an area
-It is surveyed every month
Production -Justin
Inflation-Kristine
Ways to get out of a Recession
July 7 Presentation Outline Changes
Thesis: In studying Economics, we have found common bonds between four countries and have looked for a plan to help countries around the world the end a recession.
Overview of a Recession (Sawyer)
I will talk about what a recession is and what a business cycle. I will say last:
There are some similarities to recessions:
1. decline in employment
2. decline in production
3. rise in inflation
Each person will take on of the following topics and explain the differences in each country:
Kendra will do the unemployment rate
Justin will do production including GDP
Kristine will do inflation
At the end I will talk about ways to get out of a recession. I will use Jamie Dimon's shareholder speech/outline for ideas on this because he lists 8 ways/suggestions to to help get out of the recession.
We will all make posters with a consistent pattern like the top font will be the same.
I plan on putting a general graph of a recession with the rise and fall creating a U shape.
This is an example:
Works cited: This is Not your Father's Recession...or Is It? Article ( For my part of the presentation)
Overview of a Recession (Sawyer)
I will talk about what a recession is and what a business cycle. I will say last:
There are some similarities to recessions:
1. decline in employment
2. decline in production
3. rise in inflation
Each person will take on of the following topics and explain the differences in each country:
Kendra will do the unemployment rate
Justin will do production including GDP
Kristine will do inflation
At the end I will talk about ways to get out of a recession. I will use Jamie Dimon's shareholder speech/outline for ideas on this because he lists 8 ways/suggestions to to help get out of the recession.
We will all make posters with a consistent pattern like the top font will be the same.
I plan on putting a general graph of a recession with the rise and fall creating a U shape.
This is an example:
Works cited: This is Not your Father's Recession...or Is It? Article ( For my part of the presentation)
Monday, July 6, 2009
Unemployment
Unemployment is the state of an individual looking for a paying job but not having one. Unemployment does not include children, the retired, full-time students, and people not actively looking for a job. Frictional unemployment is unemployment that comes from people moving between jobs, careers, and locations. Cyclical unemployment occurs when the unemployment rate moves in the opposite direction of the GDP growth rate. This means that when the GDP growth rate is low or negative unemployment is high. Structural unemployment is an unemployment that comes from there being an absence of demand for the workers that are available. The natural unemployment rate is the healthy unemployment rate that will always occur in an economy, unless it is overheated. Unemployment results from frictional unemployment that results from job turn over, structural unemployment that is caused by a mis-match between job skills and job availablitiy, and unemployment caused by minimum wage laws and labor unions.
According to Okun's Law, there is an empirical relationship between unemployment and percentage growth of real out put, as measured by GNP. Arthur Okun estimated the relationship between unemployment and percentage growth out put was:
Unemployment is the state of an individual looking for a paying job but not having one. Unemployment does not include children, the retired, full-time students, and people not actively looking for a job. Frictional unemployment is unemployment that comes from people moving between jobs, careers, and locations. Cyclical unemployment occurs when the unemployment rate moves in the opposite direction of the GDP growth rate. This means that when the GDP growth rate is low or negative unemployment is high. Structural unemployment is an unemployment that comes from there being an absence of demand for the workers that are available. The natural unemployment rate is the healthy unemployment rate that will always occur in an economy, unless it is overheated. Unemployment results from frictional unemployment that results from job turn over, structural unemployment that is caused by a mis-match between job skills and job availablitiy, and unemployment caused by minimum wage laws and labor unions.
According to Okun's Law, there is an empirical relationship between unemployment and percentage growth of real out put, as measured by GNP. Arthur Okun estimated the relationship between unemployment and percentage growth out put was:
- Yt = - 0.4 (Xt - 2.5 )
This can also be expressed as a more traditional linear regression as:
Yt = 1 - 0.4 Xt Yt is the change inthe unemployment rate in percentage points. Xt is the percentage growth rate in real output, as measured by real GNP.
Labor force participation rate is the percentage of working-age persons in an economy who are employed or unemployed and looking for a job. Persons between ages 16 and 64 are typically considered of working-age. People between 16 and 64 who are students, retired, and homemakers are not counted. The labor force in the U.S. is around 67-68 percent.
Unemployment
Unemployment
Today’s conversation was about unemployment. Unemployment occurs when a person is able to work and is searching for work but is currently not working.
Unemployment is best equated by
Today’s conversation was about unemployment. Unemployment occurs when a person is able to work and is searching for work but is currently not working.
Unemployment is best equated by
- unemployed workers are those who are currently not working but are willing and able to work for pay, currently available to work, and have actively searched for work
-labor force is the total number of people employed or seeking employment in an area
-it is surveyed every month
There are 6 types of unemployment.
1) Frictional Unemployment
- occurs when a worker moves from one job to another.
2) Classical Unemployment
- also known as real-wage unemployment
- occurs when real wages for a job are set above the market-clearing level
3) Cyclical or Keynesian Unemployment
- also known as demand deficient unemployment
- occurs when there is not enough aggregated demand in the economy
-caused by business recycle recession, and wages not falling to meet the equilibrium level
4) Structural Unemployment
- caused by a mismatch between jobs offered by employers and potential workers
- may be affected by geographical location, skills, and other factors
5) Seasonal Unemployment
- occurs when an occupation is not in demand at certain seasons
6) Long-term Unemployment
- an unemployment lasting longer than one year
Okun’s Law
-Okun's law states that for every 3% GDP falls relative to potential GDP, unemployment rises 1% (of the total workforce).
-When the economy operates at productive capacity, it will experience the natural rate of unemployment.
Works Cited
July 6th Unemployment Discussion
Unemployment:
People that are out of work because they got laid off, quit, or had a labor dispute
Labor Force:
The total number of people employed or seeking employment in a region
Unemployment Rate:
Number of people looking for work divided by the number of people actually employed
**Surveyed every month**
Definition of an Unemployed Person:
A person who does not have a job, actively looked for work in the prior 4 weeks and are currently available to work
2008 Statistic:
145 million people employed
9 million people unemployed
-------
154 million in the work force
Natural Rate of Unemployment:
5%
Social Problems Created by Unemployment
1. Poverty resulting in lack of spending power
2. Increased suicide rate
3. Domestic violence
4. Family break-ups
5. Increased crime
6. Homelessness
7. Young people with not enough work experience
8. Social disillusionment
9. Mental illnesses
10. Lower caring about family
Works cited: http://www.solhaam.org/lists/theme19.html
People that are out of work because they got laid off, quit, or had a labor dispute
Labor Force:
The total number of people employed or seeking employment in a region
Unemployment Rate:
Number of people looking for work divided by the number of people actually employed
**Surveyed every month**
Definition of an Unemployed Person:
A person who does not have a job, actively looked for work in the prior 4 weeks and are currently available to work
2008 Statistic:
145 million people employed
9 million people unemployed
-------
154 million in the work force
Natural Rate of Unemployment:
5%
Social Problems Created by Unemployment
1. Poverty resulting in lack of spending power
2. Increased suicide rate
3. Domestic violence
4. Family break-ups
5. Increased crime
6. Homelessness
7. Young people with not enough work experience
8. Social disillusionment
9. Mental illnesses
10. Lower caring about family
Works cited: http://www.solhaam.org/lists/theme19.html
unemployment
Unemployment occurs when a person is available to work and seeking work but currently without work. The prevalence of unemployment is usually measured using the unemployment rate, which is defined as the percentage of those in the labor force who are unemployed
types of unemployment
-Long-term unemployment
-Seasonal unemployment
-Structural unemployment
-Classical unemployment
-Frictional unemployment
In the U.S. the unemployment insurance allowance one receives is based solely on previous income and usually compensates for one-third of one's previous income. To qualify, one must reside in their respective state for at least a year and, of course, work. The system was established by the Social Security Act of 1935. While 90% of citizens are covered on paper, only 40% could actually receive benefits.In cases of highly seasonal industries the system provides income to workers during the off seasons, thus encouraging them to stay attached to the industry.
http://en.wikipedia.org/wiki/Unemployment
Thursday, July 2, 2009
July 2, 2009
Today our conversation started out with Inflation. What is Inflation? It is
-a rise in the general level of prices of goods and services in an economy in a certain time limit
-a decline in the real value of money
-a loss of purchasing power
-the U.S. is on the Fiat System instead of the Gold Standard
-on March 3 of this year, the U.S. debt was at 10.9 trillion dollars
-During fiscal year 2008, the Bureau of Engraving and Printing produced approximately 38 million notes a day with a face value of approximately $629 million.
- Every year the U.S. Treasury handles approximately 30,000 claims and redeems mutilated currency valued at over $30 million.
-we print more money then we take out of circulation
-pennies are pointless
-we should just round everything to 0 or 5.
-and they are more expensive to make then what they are actually worth
We owe other countries 3072.2 billion dollars
- 739.6 billion dollars to China
- 634.8 billion dollars to Japan
-186.3 billion dollars to oil exporters
- 176.6 billion dollars to Caribbean Banking Centers
-and that’s only the top four
And I found fun facts about money.
-the lifespan of a dollar bill is 21 months
-the lifespan of a 5 is 16 months
-the lifespan of a 10 is 18 months
-the lifespan of a 20 is 24 months
-the lifespan of a 50 is 55 months
-the lifespan of a 100 is 89 months
- The estimated weight of a currency note, regardless of denomination is one gram.
- If you had 10 billion $1 notes and spent one every second of every day, it would require 317 years for you to go broke.
-A stack of currency one mile high would contain over 14½ million notes.
-Currency paper is composed of 25% linen and 75% cotton.
- The beginning of an establishment for the engraving and printing of U.S. currency can be traced as far back as August 29, 1862, to a single room in the basement of the Main Treasury Building where two men and four women separated and sealed by hand $1 and $2 U.S. notes which had been printed by private bank note companies. Today there are approximately 2,800 employees who work out of two buildings in Washington, D.C. and a facility in Fort Worth, Texas.
-During Fiscal Year 2008 the BEP delivered 7.7 billion notes at an average cost of 6.4 cents per note.
You can read more fun facts or find out more on how money is made at
http://www.moneyfactory.gov/document.cfm/18/106
Today our conversation started out with Inflation. What is Inflation? It is
-a rise in the general level of prices of goods and services in an economy in a certain time limit
-a decline in the real value of money
-a loss of purchasing power
-the U.S. is on the Fiat System instead of the Gold Standard
-on March 3 of this year, the U.S. debt was at 10.9 trillion dollars
-During fiscal year 2008, the Bureau of Engraving and Printing produced approximately 38 million notes a day with a face value of approximately $629 million.
- Every year the U.S. Treasury handles approximately 30,000 claims and redeems mutilated currency valued at over $30 million.
-we print more money then we take out of circulation
-pennies are pointless
-we should just round everything to 0 or 5.
-and they are more expensive to make then what they are actually worth
We owe other countries 3072.2 billion dollars
- 739.6 billion dollars to China
- 634.8 billion dollars to Japan
-186.3 billion dollars to oil exporters
- 176.6 billion dollars to Caribbean Banking Centers
-and that’s only the top four
And I found fun facts about money.
-the lifespan of a dollar bill is 21 months
-the lifespan of a 5 is 16 months
-the lifespan of a 10 is 18 months
-the lifespan of a 20 is 24 months
-the lifespan of a 50 is 55 months
-the lifespan of a 100 is 89 months
- The estimated weight of a currency note, regardless of denomination is one gram.
- If you had 10 billion $1 notes and spent one every second of every day, it would require 317 years for you to go broke.
-A stack of currency one mile high would contain over 14½ million notes.
-Currency paper is composed of 25% linen and 75% cotton.
- The beginning of an establishment for the engraving and printing of U.S. currency can be traced as far back as August 29, 1862, to a single room in the basement of the Main Treasury Building where two men and four women separated and sealed by hand $1 and $2 U.S. notes which had been printed by private bank note companies. Today there are approximately 2,800 employees who work out of two buildings in Washington, D.C. and a facility in Fort Worth, Texas.
-During Fiscal Year 2008 the BEP delivered 7.7 billion notes at an average cost of 6.4 cents per note.
You can read more fun facts or find out more on how money is made at
http://www.moneyfactory.gov/document.cfm/18/106
cost of living
based on the location, the cost of living will almost always be different.
there are three main factors to determining cost of living for a certain area: Supply and Demand factors reflected on the salary ranges for a particular city, state taxes and regional Consumer Price Index (CPI) information.
for example, if i lived in Galesburg, IL and made $30,000 a year, in order to live the same kind of lifestyle in Manhatten, NY i would need to make over $68,000 a year. this is due in large part because the housing costs 368% more than it does in galesburg.
in new york, because there are so many people living there, the stores can afford to put the prices high because they know that the consumers will pay it.
http://cgi.money.cnn.com/tools/costofliving/costofliving.html, www.bls.gov/cpi/
there are three main factors to determining cost of living for a certain area: Supply and Demand factors reflected on the salary ranges for a particular city, state taxes and regional Consumer Price Index (CPI) information.
for example, if i lived in Galesburg, IL and made $30,000 a year, in order to live the same kind of lifestyle in Manhatten, NY i would need to make over $68,000 a year. this is due in large part because the housing costs 368% more than it does in galesburg.
in new york, because there are so many people living there, the stores can afford to put the prices high because they know that the consumers will pay it.
http://cgi.money.cnn.com/tools/costofliving/costofliving.html, www.bls.gov/cpi/
July 2nd Discussion (Questions and Answers)
What is the current rate in which money is printed in the United States?
During the (FY) 2008, the Bureau of Engraving and Printing produced approximately 38 million notes a day with a face value of approximately $629 billion. There is question to what percent of that goes towards replacement or what percent is "new" money. In an earlier blog I had the statistic that 95% of the money printed last year was used to replace existing money.
What is the U.S. debt?
On March 3, 2009 the United States had a debt of $10.9 trillion. I also noted that most of that debt is to the citizens of the country so it does not seem to be that big of a deal. That is why citizen buy bonds.
Does the U.S. borrow money from somewhere?
We owe money to China, Japan, Saudi Arabia, and other oil exporting countries. Our total debt to other countries is $3072.2 billion. Here is a break down of the top 5:
China=$739.6 billion
Japan=$634.8 billion
Oil Exporters=$186.3 billion
Caribbean Banking Centers=$176.6 billion
Brazil=$133.5 billion
What is inflation?
-rise of the prices of goods and services in the economy
-decline in the real value of money
-loss of purchasing power
-increase in the supply of currency or credit relative to the availability of goods and services
I also found a very interesting web page: http://www.abovetopsecret.com/forum/thread342930/pg1
The rest of the information was a combined effort of all the team members to compile.
During the (FY) 2008, the Bureau of Engraving and Printing produced approximately 38 million notes a day with a face value of approximately $629 billion. There is question to what percent of that goes towards replacement or what percent is "new" money. In an earlier blog I had the statistic that 95% of the money printed last year was used to replace existing money.
What is the U.S. debt?
On March 3, 2009 the United States had a debt of $10.9 trillion. I also noted that most of that debt is to the citizens of the country so it does not seem to be that big of a deal. That is why citizen buy bonds.
Does the U.S. borrow money from somewhere?
We owe money to China, Japan, Saudi Arabia, and other oil exporting countries. Our total debt to other countries is $3072.2 billion. Here is a break down of the top 5:
China=$739.6 billion
Japan=$634.8 billion
Oil Exporters=$186.3 billion
Caribbean Banking Centers=$176.6 billion
Brazil=$133.5 billion
What is inflation?
-rise of the prices of goods and services in the economy
-decline in the real value of money
-loss of purchasing power
-increase in the supply of currency or credit relative to the availability of goods and services
I also found a very interesting web page: http://www.abovetopsecret.com/forum/thread342930/pg1
The rest of the information was a combined effort of all the team members to compile.
The Fiat System
Fiat money is money that is intrinsically useless - it is used only as a medium of exchange. There is no restrain on the amount of money that can be printed. In the gold standard, money can only be printed if it is backed by gold. In the fiat system money, money doesn't have an actual value. Money gains its value because people want it. If everyone decided money was worthless the money would be worthless. People want it and are willing to trade goods and services to get it so they can use it on other goods and services. The problem with the fiat system is that hyperinflation can easily occur and confidence in the system is easily lost. Once people start losing confidence in the money, the money becomes worthless. Gold has replaced every fiat currency, except the U.S.'s, for the past 3000 years. The U.S. manages to avoid hyperinflation by shifting between a fiat system and gold standard for the past 200 years as follows:
1985-1861 - Fixed Gold Standard
1862-1879 - Floating Fiat System
1880-1914 - Fixed Gold Standard
1915-1925 - Floating Fiat System
1926-1931 - Fixed Gold Standard
1931-1945 - Floating Fiat System
1945-1968 - Fixed Gold Standard
1971 - Floating Fiat System
1971-1973 - Fixed Fiat System
1973-present - Floating Fiat System
U.S. Debt
The U.S debt increases by an average of $3.96 billion per day. It has been growing like this since September 28, 2007. The U.S. has $11,552,141,291,250.35 (updates constantly) in public. Each citizen's share is approximately $37,693.61. The U.S. has 3072.2 billion dollars in debt to other countries. China, Japan, oil exporters, Caribbean banking centers, and Brazil are the five countries the U.S. in debt to. There are over 30 countries the U.S. is in debt to.
Foreign owners of US Treasury Securities (January 2009)
People's Republic of China $739.6 billion - 24.07% of total
Japan $634.8 billion - 20.66% of total
Oil exporters $186.3 billion - 6.06% of total
Caribbean banking centers $176.6 billion - 5.75% of total
Brazil $133.5 billion - 4.35% of total
United Kingdom $124.2 billion - 4.04% of total
Russia $119.6 billion - 3.89% of total
Luxembourg $87.2 billion - 2.84% of total
Taiwan $73.3 billion - 2.39% of total
Hong Kong $71.7 billion - 2.33% of total
Switzerland $62.1 billion - 2.02% of total
Germany $56.4 billion - 1.84% of total
Republic of Ireland $50 billion - 1.63% of total
Singapore $38.3 billion - 1.25% of total
Thailand $37.2 billion - 1.21% of total
Mexico $34.9 billion - 1.14% of total
India $32.5 billion - 1.06% of total
Turkey $31.3 billion - 1.02% of total
Korea $31.3 billion - 1.02% of total
Norway $21.9 billion - 0.71% of total
France $17.9 billion - 0.58% of total
Israel $16.9 billion - 0.55% of total
Egypt $16.9 billion - 0.55% of total
Netherlands $16.8 billion - 0.55% of total
Italy $15.6 billion - 0.51% of total
Belgium $15.5 billion - 0.50% of total
Chile $15.2 billion - 0.49% of total
Sweden $12.4 billion - 0.40% of total
Philippines $11.6 billion - 0.38% of total
Colombia $11.3 billion - 0.37% of total
All other $179.4billion - 5.84% of total
Grand Total = $3072.2 billion
Fiat money is money that is intrinsically useless - it is used only as a medium of exchange. There is no restrain on the amount of money that can be printed. In the gold standard, money can only be printed if it is backed by gold. In the fiat system money, money doesn't have an actual value. Money gains its value because people want it. If everyone decided money was worthless the money would be worthless. People want it and are willing to trade goods and services to get it so they can use it on other goods and services. The problem with the fiat system is that hyperinflation can easily occur and confidence in the system is easily lost. Once people start losing confidence in the money, the money becomes worthless. Gold has replaced every fiat currency, except the U.S.'s, for the past 3000 years. The U.S. manages to avoid hyperinflation by shifting between a fiat system and gold standard for the past 200 years as follows:
1985-1861 - Fixed Gold Standard
1862-1879 - Floating Fiat System
1880-1914 - Fixed Gold Standard
1915-1925 - Floating Fiat System
1926-1931 - Fixed Gold Standard
1931-1945 - Floating Fiat System
1945-1968 - Fixed Gold Standard
1971 - Floating Fiat System
1971-1973 - Fixed Fiat System
1973-present - Floating Fiat System
U.S. Debt
The U.S debt increases by an average of $3.96 billion per day. It has been growing like this since September 28, 2007. The U.S. has $11,552,141,291,250.35 (updates constantly) in public. Each citizen's share is approximately $37,693.61. The U.S. has 3072.2 billion dollars in debt to other countries. China, Japan, oil exporters, Caribbean banking centers, and Brazil are the five countries the U.S. in debt to. There are over 30 countries the U.S. is in debt to.
Foreign owners of US Treasury Securities (January 2009)
People's Republic of China $739.6 billion - 24.07% of total
Japan $634.8 billion - 20.66% of total
Oil exporters $186.3 billion - 6.06% of total
Caribbean banking centers $176.6 billion - 5.75% of total
Brazil $133.5 billion - 4.35% of total
United Kingdom $124.2 billion - 4.04% of total
Russia $119.6 billion - 3.89% of total
Luxembourg $87.2 billion - 2.84% of total
Taiwan $73.3 billion - 2.39% of total
Hong Kong $71.7 billion - 2.33% of total
Switzerland $62.1 billion - 2.02% of total
Germany $56.4 billion - 1.84% of total
Republic of Ireland $50 billion - 1.63% of total
Singapore $38.3 billion - 1.25% of total
Thailand $37.2 billion - 1.21% of total
Mexico $34.9 billion - 1.14% of total
India $32.5 billion - 1.06% of total
Turkey $31.3 billion - 1.02% of total
Korea $31.3 billion - 1.02% of total
Norway $21.9 billion - 0.71% of total
France $17.9 billion - 0.58% of total
Israel $16.9 billion - 0.55% of total
Egypt $16.9 billion - 0.55% of total
Netherlands $16.8 billion - 0.55% of total
Italy $15.6 billion - 0.51% of total
Belgium $15.5 billion - 0.50% of total
Chile $15.2 billion - 0.49% of total
Sweden $12.4 billion - 0.40% of total
Philippines $11.6 billion - 0.38% of total
Colombia $11.3 billion - 0.37% of total
All other $179.4billion - 5.84% of total
Grand Total = $3072.2 billion
Wednesday, July 1, 2009
1 Jul 2009 Discussion
Today our conversation was about GDP and how we could help the economy throughout the world. Unfortunately since I’m the last to post, everyone pretty much covered everything. Although, I did learn new things. I didn’t know about GDP at the beginning of the morning and I do now. It is the measure of a nation’s total economic activity. To calculate GDP you need personal consumption, government expenditures, investment spending, net exports, and imports. The equation to calculate GDP is Consumption + Government Expenditures + Investment + Exports – Imports = GDP. Inflation can affect the GDP so much that you can not accurately figure the GDP.
We also talked about the stock market and how we can restore people’s trust. We talked about scams like the sham wow do not work but you will never know unless you try. And oxi-clean actually works and you wouldn’t know that either unless you tried it. People need to try out new products to help new companies grow and people also need to invest in new companies. There needs to be more risks. People are too conservative and need to risk a little bit. Now I’m not saying spend your every check on the stock market but maybe 100 or 200 dollars. That money can help companies out. And you can make money if that company grows.
We also decided that tomorrow we will talk about Inflation. Then on Friday we will talk about Unemployment and what can help or hurt it.
We also talked about the stock market and how we can restore people’s trust. We talked about scams like the sham wow do not work but you will never know unless you try. And oxi-clean actually works and you wouldn’t know that either unless you tried it. People need to try out new products to help new companies grow and people also need to invest in new companies. There needs to be more risks. People are too conservative and need to risk a little bit. Now I’m not saying spend your every check on the stock market but maybe 100 or 200 dollars. That money can help companies out. And you can make money if that company grows.
We also decided that tomorrow we will talk about Inflation. Then on Friday we will talk about Unemployment and what can help or hurt it.
gdp
Argentina GDP
326,474
a country's GDP is a solid indicator of how well their economy is doing.
inflation is the only thing that can make the GDP somewhat inaccurate.
GDP= consumption + gross investment + government spending + (exports − imports)
Topic of the Day=The Million Dollar Question
Today's question/ topic was: What do you think consumers, businesses, government, and the world should do to make the economy better?
Here is what we came up with:
Consumers
1. Consumers should try new products that are reasonable and have been researched. They should also be approved by the government if a big investment or they can buy new products that do not cost a lot of money and are small risks which help businesses but does not hurt your pocketbook.
2. Think positively and keep spending if possible. Economies do better when people spend money more than save.
3. Invest money in companies.
Businesses
1. Make durable yet low cost products
2. Employ as many people as possible to your benefit
3. Be innovative
4. Have good marketing techniques
5. Be loyal to customers and welcome new by being informative
6. Target young people and also stay in contact with other age ranges...also on specific age range products you should target and promote to them
Government
1. Encourage spending by consumers
2. Encourage companies to try innovative techniques and maybe a new product
3. IDEA: Government should work with companies and give out a voucher/coupon for products and then they can pay the company for what they lose in the transaction. This will help the consumer and have the companies gain consumers. Also, it may work better than just giving them money out of a stimulus plan. I do question though if this is infringing on the free market/capitalist market.
World
1. Continue organizations that makes assessments of the market like IMF or G-20
2. Interact with one another and see what is working for other countries and so they can apply it to others....though we are in a competitive market, allies will help one another
3. Keep exporting and importing but encourage people to buy products made in home country too...keep a balance and don't rack up a big trade deficit
Here is what we came up with:
Consumers
1. Consumers should try new products that are reasonable and have been researched. They should also be approved by the government if a big investment or they can buy new products that do not cost a lot of money and are small risks which help businesses but does not hurt your pocketbook.
2. Think positively and keep spending if possible. Economies do better when people spend money more than save.
3. Invest money in companies.
Businesses
1. Make durable yet low cost products
2. Employ as many people as possible to your benefit
3. Be innovative
4. Have good marketing techniques
5. Be loyal to customers and welcome new by being informative
6. Target young people and also stay in contact with other age ranges...also on specific age range products you should target and promote to them
Government
1. Encourage spending by consumers
2. Encourage companies to try innovative techniques and maybe a new product
3. IDEA: Government should work with companies and give out a voucher/coupon for products and then they can pay the company for what they lose in the transaction. This will help the consumer and have the companies gain consumers. Also, it may work better than just giving them money out of a stimulus plan. I do question though if this is infringing on the free market/capitalist market.
World
1. Continue organizations that makes assessments of the market like IMF or G-20
2. Interact with one another and see what is working for other countries and so they can apply it to others....though we are in a competitive market, allies will help one another
3. Keep exporting and importing but encourage people to buy products made in home country too...keep a balance and don't rack up a big trade deficit
Today we discussed gross domestic product (GDP). Factors that make up GDP are personal consumption, government expenditures, investment spending, and net exports. Personal consumption is money spent on durable good (goods that will last three years or more), nondurable goods (don't last as long such as food and clothing), and services. Government expenditures consists of government spending on defense, roads, and schools. Investment spending is money spent for nonresidential (plants and equipment), residential (houses for one or multiple families), and business inventories. Net exports are made up of imports and exports. GDP is found as follows:
GDP = personal consumption + government expenditures + investment spending + exports - imports
GDP can also become highly inaccurate because of inflation rates. The value of money goes down the higher the GDP can appear when it is actually lower than it was previously once adjusted for inflation. When GDP declines for two consecutive quarters the economy, by definition, is in a recession. If GDP grows to quickly fears of inflation arise and the government may raise interest rates to try to control inflation. GDP is calculated in current dollars and constant dollars. Current dollar is in today's dollar value with inflation. Constant dollar is without inflation so it can easily be compared to past GDP's when inflation was lower.
GDP = personal consumption + government expenditures + investment spending + exports - imports
GDP can also become highly inaccurate because of inflation rates. The value of money goes down the higher the GDP can appear when it is actually lower than it was previously once adjusted for inflation. When GDP declines for two consecutive quarters the economy, by definition, is in a recession. If GDP grows to quickly fears of inflation arise and the government may raise interest rates to try to control inflation. GDP is calculated in current dollars and constant dollars. Current dollar is in today's dollar value with inflation. Constant dollar is without inflation so it can easily be compared to past GDP's when inflation was lower.
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