Living Economics: Yesterday, Today, and Tomorrow Detailed Summary Highlights Economics is a vital source of ideas for understanding how the world works. Although the greatest teachers of economics have always stressed this, economics as it is currently taught often deemphasizes the study of real-world problems and dwells too much on nonessentials. Economics teachers would find greater success (i.e., their students would retain more knowledge) if they focused more on the core lessons of economics, such as how the price system coordinates and harmonizes the decision-making of countless individuals, and why the resulting patterns of “spontaneous order” are self-regulating but can fall prey to public policies that create undesirable, unintended consequences. Although Adam Smith didn’t originate economics, his synthesizing treatise The Wealth of Nations is a towering achievement in the intellectual history of Western Civilization. Synopsis In Living Economics: Yesterday, Today, and Tomorrow, Peter J. Teaching Economics Teachers of Economics
IMF Data and Statistics Data and Statistics Last Updated: April 03, 2014 The IMF publishes a range of time series data on IMF lending, exchange rates and other economic and financial indicators. Manuals, guides, and other material on statistical practices at the IMF, in member countries, and of the statistical community at large are also available. Data Standards& Codes Manuals& Guides Meetings & relatedstatistical material Global Data World Economic Outlook Databases (WEO) updated Download time series data for GDP growth, inflation, unemployment, payments balances, exports, imports, external debt, capital flows, commodity prices. Back to top IMF Financial Data IMF Financial Data by Country Summary of IMF members' relations with the FundMore IMF Financial Data By Topic Disbursements & Repayments Historical data since 1984. Exchange Rate Data External Sector Statistics
1200 Free Online Courses from Top Universities Open Culture Get 1,300 free online courses from the world's leading universities -- Stanford, Yale, MIT, Harvard, Berkeley, Oxford and more. You can download these audio & video courses (often from iTunes, YouTube, or university web sites) straight to your computer or mp3 player. Over 45,000 hours of free audio & video lectures, await you now. Humanities & Social Sciences Art & Art History Courses Classics Courses Ancient and Medieval Philosophy (Syllabus) - Free iTunes Video - Free Online Video - David O'Connor, Notre DameAncient Greece: City and Society - Free iTunes Audio - La Trobe University, AustraliaAncient Greece: Myth, Art & War - Free iTunes Audio - Dr Gillian Shepherd, La Trobe University - AustraliaAncient Greek History - Free Online Course - Donald Kagan, YaleAncient Israel - Free Online Course - Daniel Fleming, NYUAncient Philosophy - Free Online Audio - David Ebrey, UC BerkeleyAncient Wisdom and Modern Love (Syllabus) - Free iTunes Video - Free Online Video - David O'Connor, Notre Dame
Influencers Are Lying, Statistics Are Only Telling Half The Truth Last week Kim Garst posted an article about various ideas for posts for your Facebook page. Kim writes in the article that you should post several times a day – but I guess some of you have heard about the statistic research stating that the optimal frequency would be 10 times a week. In the comments to Kim’s post the question came up again: Why does Kim suggest something that does not follow the statistics? And what should you do? There is a similar discussion for Twitter: Social Bakers state that three Tweets a day would be optimal, Track Social found a number of five Tweets to be the optimum. Yet, influencers like Jeff Bullas follow the advice by Simply Measured that tweeting every 15 minutes instead of every 30 minutes can increase by 31% and increase engagement by 89%. You can make some of your own calculations to add to the confusion: That sounds perfect? (The Facebook-tool PostPlanner comes in handy for this. The problem with statistics is, they represent some kind of average.
Turkey: Making the productivity and growth breakthrough Turkey's economy is poised to take off. Completing a successful transformation, however, means Turkey needs to confront monopolies and traditionally-run businesses that are slow to modernize. MGI shows how privatization and enforcement of financial laws will boost the economy. Turkey has a watershed decision to make. Policymakers can remove the fundamental roadblocks to faster productivity growth. Or they can maintain the status quo, allowing productivity to limp along at 40 percent of best practice levels, holding Turkey back from a breakthrough to sustained rapid growth. The implications for Turkey are crucial in terms of not only providing an improved standard of living for its population of 65–70 million but also making itself a more attractive candidate for acceptance into the EU. The McKinsey Global Institute (MGI) analyzed productivity levels in 11 sectors across the economy and has provided a series of recommendations based on that analysis. Telecommunications Sector Apparel sector
Google Open-Sourcing TensorFlow Shows AI's Future Is Data When Google open sourced its artificial intelligence engine last week—freely sharing the code with the world at large—Lukas Biewald didn’t see it as a triumph of the free software movement. He saw it as a triumph of data. That’s how you’d expect him to see it. He’s the CEO of the San Francisco startup CrowdFlower, which helps online companies like Twitter juggle massive amounts of data. 'What they're not opening up is their data. In open sourcing the TensorFlow AI engine, Biewald says, Google showed that, when it comes to AI, the real value lies not so much in the software or the algorithms as in the data needed to make it all smarter. “As companies become more data-driven, they feel more comfortable open sourcing lots of [software]. Making Machines Smarter Biewald compares this to IBM’s recent purchase of The Weather Channel, where Big Blue paid millions largely to acquire data it could use to feed its AI ambitions. TensorFlow, you see, deals in a form of AI called deep learning.
Colombia’s lesson in economic development A faster pace of economic development calls for microlevel reforms to help specific sectors and companies become more competitive in global markets. Many developing countries are frustrated because better macroeconomic conditions haven’t led to faster economic growth. Clearly, earning an investment-grade rating on sovereign debt isn’t enough. Our work in Colombia creating and implementing an economic-development program, with a model focused on improving specific industry sectors, could provide useful lessons for a number of developing countries. Colombia has enjoyed a surprising political and economic turnaround over the past decade. Nonetheless, many economists assert that the improvements in the business environment are necessary but not sufficient to ensure sustainable economic development. We spoke with Colombia’s trade minister, Luis Guillermo Plata, about this public–private partnership, as well as about the broader challenges of restructuring the country’s economy. Video
Data Analytics Lab, ETH Zürich Improving Children's Lives - Online Course Why do some countries do better than others in giving their children a good start to life? Can governments improve children’s lives by learning from the best performing countries? This free online course explores these questions using a combination of articles, videos, animations, articles, interactive data visualisations, discussions, and research “bites”. We will introduce you to key findings from the world-leading research into child well-being conducted at the University of York and findings from major child well-being studies conducted by international organisations such as Unicef. As well as exploring children’s own perceptions of their well-being, we will explore variations in the levels of child poverty, material deprivation and in key health outcomes. This course will appeal to students and participants from around the globe, particularly those from within the OECD countries. By the end of the course, you will: Learn with world-leading researchers on child well-being
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