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David Smith's

David Smith's
Austerity myths revisited Posted by David Smith at 01:00 PM Category: Thoughts and responses My piece on Friday, The Myth of Abandoned Austerity, has attracted quite a lot of interest. It had a simple aim - to demonstrate that fiscal consolidation, deficit reduction, continued throughout the parliament, alongside recovery. Simon Wren-Lewis, a professor of economics at Oxford, devoted a blog post to it, here. Jonathan Portes, director of the National Institute of Economic and Social Research, was typically condescending, tweeting that I was "confused (& confusing)". Let me respond to Simon. But Simon answers the question himself: “I know this cannot be the case because I have never said that austerity was abandoned in 2012. That means, he suggests, that I am guilty of creating a straw man. This is not quite the same, of course, as economists that Simon might know saying austerity has been abandoned. (More...) Related:  General EconomicsECONOMICSMACRO

Virtual Economy Home page of the Virtual Economy on Biz/ed. Virtual Economy Home Page Welcome to the Biz/ed / Institute for Fiscal Studies (IFS) Virtual Economy. The model is based around No.11 Downing St. - the Chancellor's house and office. Ground floor (this floor) - Chancellor's office with an introduction to the Virtual Economy and an information bureau with teachers' guides, student guides and details of the model. 1st floor - Case Studies - this floor has case studies about the impact of changes in the economy on people, business and governments. 2nd floor - Economic Policy - a whole floor dedicated to the different economic variables in the model. There are further details available of the development of the Virtual Economy and the groups involved in its preparation.

Economics of Contempt Aeon | a world of ideas Consumer price inflation - Office for National Statistics The Consumer Prices Index (CPI) rose by 0.5% in the year to June 2016, compared with a 0.3% rise in the year to May. The June rate is a little above the position seen for most of 2016, though it is still relatively low historically. Rises in air fares, prices for motor fuels and a variety of recreational and cultural goods and services were the main contributors to the increase in the rate. These upward pressures were partially offset by falls in the price of furniture and furnishings and accommodation services. CPIH (not a National Statistic) rose by 0.8% in the year to June 2016, up from 0.7% in May. Back to table of contents Consumer price inflation is the rate at which the prices of goods and services bought by households rise or fall. A price index can be used to measure inflation in a number of ways. A range of measures of consumer price and other price inflation are published. What is the CPI? Latest figure and long-term trend Percentage points Source: Office for National Statistics .xls

Just Business - Educational Resources with a Global and Ethical Dimension for Teachers and Students of Economics and Business Studies Economics and... University of Warwick Podcasts Warwick Podcasts allow you to hear from University experts commenting on important issues, their research and events. Warwick Podcasts are available as a downloadable MP3 file or can be accessed directly from this page. You can also subscribe through a number of podcast directories to get Warwick Podcasts direct to your computer and MP3 player. More podcasts from Warwick How employable are today's graduates? 11:12, Thu 8 Dec 2011 In the second of a series of podcasts on graduates and employability, Professor Kate Purcell and Professor Peter Elias discuss what employers are really looking for in today's graduates Download "Anonymous" Discussion 13:28, Fri 11 Nov 2011 Exploring the theory that Edward de Vere, Earl of Oxford, wrote the plays that we attribute to Shakespeare. Download Dating the Birth of Jesus and the 'first Christmas' with a Herodian Coin 15:51, Mon 20 Dec 2010 Anno domini. Download Celebrating 30 years of WMG 09:59, Tue 26 Oct 2010 Download

The Economist explains: How Nigeria’s economy grew by 89% overnight ON SATURDAY, April 5th, South Africa was Africa’s largest economy. The IMF put its GDP at $354 billion last year, well ahead of its closest rival for the crown, Nigeria. By Sunday afternoon that had changed. Nigeria’s statistician-general announced that his country’s GDP for 2013 had been revised from 42.4 trillion naira to 80.2 trillion naira ($509 billion). The estimated income of the average Nigerian went from less than $1,500 a year to $2,688 in a trice. How can an economy grow by almost 90% overnight? Nigeria has a deserved reputation for corruption, so a sceptic might think the doubling of its economy a result of fiddling the numbers. The new figures use 2010 as the base year. Of course, Nigerians are no richer than they were on Saturday night. Dig deeper:How do countries calculate GDP?

Institute For Fiscal Studies Faculty of Economics Introduction This reading list is designed to provide information about the scope and content of Part I of the Economics Tripos at Cambridge. It aims to help potential candidates who are thinking of applying to read Economics at Cambridge, and to allow schools to advise such candidates. Directors of Studies may also find it useful to send copies of this reading list to candidates holding conditional or firm offers of admission. You will find it easier to understand many of the issues covered in the course if you have a basic familiarity with key developments in Britain, Europe and the world in the 20th century. General Introduction Dasgupta, P. Microeconomics and Macroeconomics Begg, D K H, S Fischer and R Dornbusch, Economics (latest edition), McGraw-Hill Greenaway, D and G K Shaw, Macroeconomics: Theory and Practice in the UK (latest edition), Blackwell Heilbroner, R, The Worldly Philosophers (latest edition), Penguin *Mankiw, N G, and M.P. Quantitative Methods in Economics

Will globalisation take away your job? Image copyright Getty Images Millions around the globe may have taken to the streets in recent years to protest against the impact of globalisation on their jobs and communities - but this backlash is only likely to grow as globalisation itself becomes more disruptive. The stark warning comes from Richard Baldwin, president of the Centre for Economic Policy Research think-tank, who has been studying global trade for the past 30 years. Technological advances could now mean white-collar, office-based workers and professionals are at risk of losing their jobs, Prof Baldwin argues. In the US, voter anger with globalisation may have led to Donald Trump's election victory, but those who voted for him could be disappointed as his aim of bringing back jobs is unlikely to work, says Prof Baldwin, who also worked as an economist under President George HW Bush. Protectionist trade barriers won't work in the 21st Century, he says. Virtual migration Robots rise Political backlash Balancing act

OECD Economists Do It With Models — Warning: “graphic” content…