This is my last Intro Macro class. Then we do a review class, then the exam next week, then I'm off to Intro Micro and a calculus class through July.
I'm thinking of just doing a basic BA instead of an Honours BA... the only difference is the Honours programme teaches you a shit-ton of econometrics so you can be cheap labour for a prof for 5 years. Forget it, girlie, that's not for me.
Seems like I can take a pile of international trade classes in winter; and even better, I'll only be at school while the sun's up, which is great when it's dead of fucking winter with a -30 wind chill.
Anyway, here are some news stories:
Reuters - India's CAD drops to 0.2% of GDP. And just like that Modi has no reason to beat up on gold anymore. Now maybe he can figure out how to get his clusterfuck of a country to produce goods for export.
Vox EU - inflation expectations spur consumption. For durables, anyway. Hey, I wonder if inflation expectations have anything to do with business investment too?
Mark Thoma - interest rates: natural or artificial? Hey, I'm only in 1st-year macro, but has anyone suggested that maybe interest rates are generationally low because of demographics? Yknow, old people are rich and savers while young people are poor and borrowers, supply & demand means the market clears at a really low interest rate?
Mainly Macro - the latest IMF paper on debt. This is funny, because I've been reading Stiglitz's stories about the stupidity of the IMF. It doesn't matter what IMF economists say; what matters is the opinion of the plutocrats who control the IMF.
Conversable Economist - on electricity in Africa. Some pretty mind-boggling stats:
595 million Africans live in countries where electricity availability per person is sufficient to only light a single 100-watt light bulb continuously for less than two months.And what's more, I doubt you'll see the investment in electrical infrastructure until people in Africa quit murdering each other by the millions.
Though the argument can be made that centralized electrical infrastructure is so 20th-century. Decentralization and microgeneration is the future, exactly the same as it is for telephony.