The U.S. market was flooded with British goods and U.S. industry suffered. Topics include the definition of economics, microeconomics, and macroeconomics as a field and the role of assumptions in economic decisionmaking. Economics USA: Stabilization Policy Video Transcript, Unit 27 We believe the Federal Reserve most effectively serves the public by building a more diverse and inclusive economy. Economics is a field of science that has to do with the different types of economic activities which is related with the different aspects of producing, consuming and even distributing the goods along with services as well. and M.A. Dr. Blinder received his B.A. Dr. Galbraith received his B.A. 19. The return of U.S. troops from overseas following World War II created a massive demand for cheap housing. 17. Economics USA: Monopoly Audio Transcript, Unit 7 He is author of the State New Economy Index series and The Past and Future of America’s Economy: Long Waves of Innovation that Power Cycles of Growth. from Oberlin College. He was also the U.S. representative for meetings of the European Economic Community in Geneva and the Organization for Economic Co-operation and Development in Paris. The Banking Act of 1935 and the Fed Accord of 1951 broadened the powers of the Fed, widening the range of options and tools it could use to manage the economy. After WWII, he climbed through the UAW ranks, as an international representative, a negotiator during a 104-day strike at Chrysler, and Administrative Assistant to UAW President Walter Reuther. and D.Phil. Dr. Saulnier received his B.A. She has authored several books, many articles in professional journals, and is active in professional associations in foreign affairs and economics. This 21st Century Edition, released in 2011, highlights major developments in economics, both nationally and globally, showing, for example, how the Great Recession of 2008 has caused experts to consider the need to deconstruct previously ironclad economic concepts to make way for new lines of inquiry. This set of videos explains how the production possibilities frontier (PPF) illustrates some very important economic concepts. 22. 9. Classroom Resources > Chief Economist Director of economic forecasting and Chief Economist of IHS Global Insight, responsible for developing the economic outlook and risk analysis for the United States, Europe, Japan, China, and other emerging markets. He served as Assistant Secretary of State under Truman for Economic Affairs, 1946–1952. from Harvard Law School. Fiscal Policy One of his earliest assignments was to study how to “deflate” (find the true inflation-adjusted estimates of) the U.S. The Banking System He contributed articles to Justice, the newspaper of the ILGWU, and became editor in 1952. And under Chairman Benjamin Bernanke the Fed has struggled to combat the ravages of the Great Recession in the first decade of the 21st century. He also held several positions in the Board’s Division of Research and Statistics, including Associate Director and Chief of Capital Markets. American business magnate, inventor, and Co-Founder and Chief Executive Officer of Apple Computer. Behravesh regularly appears on national radio and television programs, including BBC World Business Report, NBC Nightly News, CNN Headline News, The PBS News Hour, Fox News, CNBC, Bloomberg TV and Radio, and All Things Considered and Market Place on National Public Radio. He also held the Organization of American Historians/American Studies Association residency in Japan and was a specialist abroad for the United States Information Agency in Nigeria and the Republic of Korea. Learn how households and businesses interact in the market for resources and in the market for goods and services, and see how money keeps the whole process moving. He worked for 15 years at Merck & Co., one of the world’s leading research-based pharmaceutical and vaccine companies. Economics USA: Economic Growth Video Transcript This video from the Explore Economics series helps kids understand that people are both consumers and producers. and M.A. He also chaired the Immigration and Refugee Subcommittee of the Judiciary Committee, the Nuclear Regulation Subcommittee, the Social Security Subcommittee, and the Committee on Aging. Ken Witty, a talented documentary filmmaker, has produced a video series to illustrate the Ten Principles of Economics introduced in Chapter 1. This notion gave him the reputation of being a pragmatic conservative, jokingly referred to as a “liberal’s conservative and a conservative’s liberal.” He was author of The Fiscal Revolution in America and was on the board of contributors of the Wall Street Journal. Economist who served as adviser in domestic and foreign affairs for presidents Franklin D. Roosevelt, Harry S. Truman, and Dwight D. Eisenhower. Mr. Elliott received an A.B. Gross Domestic Product 21. Economics USA: GNP/GDP Audio Transcript, Unit 16 These stories show problems posed by the development of inflation in the post-war U.S. economy. Dr. Fischer received his B.Sci. Boom and Bust Public policy analyst and Senior Fellow Emeritus of the Economic Studies Program at the Brookings Institution since 1977. In the 1960s, newly elected John F. Kennedy and economic advisor Walter Heller pushed Congress to approve a $12 billion tax cut stimulus. In addition to updated video content, Economics U$A: 21st Century Edition includes an interactive website that provides video program extensions, including: an economics historical timeline, a “fix the budget” simulation, multiple choice exercises that draw material from both the text and the video series, biographies of the series experts, audio interviews conducted by journalist Frank Stasio, and transcripts of the video and audio programs. Markets I also post videos to best guide exam technique to aid revision for those all important exams, all for the benefit of students; enjoy! Pharmaceutical companies invest millions in bringing new drugs to market. Ms. Flamm received her B.A. The nation’s cycles of economic booms and busts were considered intrinsically capitalistic by Joseph Schumpeter who called them “methodic economic growth,” and by Karl Marx who lambasted capitalism as inherently flawed. 6. Earlier, as General Counsel of the U.S. Treasury Department, he had a significant role in developing proposals for the deregulation of the financial services industry. He served in the U.S. Army, 1952–1954, and was employed by the Barnett Bank of Jacksonville, Florida, 1956–1957. By 1925 Great Britain went off the gold standard, managing to increase exports and lessen imports. In 1956, he became Professor of Public Welfare Administration at the University of Michigan, until President John F. Kennedy appointed him Assistant Secretary for Legislation of Health, Education, and Welfare. Dr. Kendrick received his B.A. Circular Flow A perfectly competitive market does not always provide the right amount of goods, so government fills the gap with public goods. President Lyndon B. Johnson elevated him to Under Secretary in 1965, then to U.S. Secretary of Health, Education, and Welfare, in 1968. Senator from Tennessee, 1971–1977, Congressman from Tennessee, 1963–1971, and U.S. Trade Representative and Secretary of Labor under Ronald Reagan. He proposed that funds raised from spectrum auctions be dedicated to the development of public broadcasting services, much like the traditional British model of public support for national programming. During World War II, he broadcast the fall of Paris to the Germans, then joined the legendary Edward R. Murrow in London, where he reported on the Battle of Britain throughout the war. In this video, we introduce the field of economics using quotes from the person that many consider to be the "father" of economics: Adam Smith. In addition to his Harvard career, he spent fifteen years as an opera singer with the New York Opera, the Metropolitan Opera, the New York Philharmonic, and other companies. This video explains the concept of equilibrium. from the University of Memphis and M.A. and Ph.D. in Economics from Trinity College, Cambridge. Budget Analyst and Grover M. Hermann Fellow in Budgetary Affairs at the Heritage Foundation, specializing in interpreting, explaining, and reforming federal budget policy. 25. and M.A. These stories discuss the relationship between the money supply, economic growth, and inflation, and explain why choosing correct monetary policy can be so difficult. In 1944, he was Chief Technical Advisor and Executive Secretary to the U.S. Delegation to the Bretton Woods Conference. Economics USA: International Trade Video Transcript, Unit 28 Later, he taught at Harvard University, formed his own consulting company, Brimmer & Co., and in 1997 returned to the Federal Reserve as Vice Chairman. Economics USA: Inflation Audio Transcript, Unit 20 from Radcliffe College and M.A. Linked from the description … He began his academic career as an instructor at Tufts University. The Great Depression and the Keynsian Revolution He traveled on the Conservation Tour with President John F. Kennedy and was the principal founder of Earth Day. Beginning in 1933, he worked at an exporting firm in Argentina, a bank in Chile, and a securities firm on Wall Street. The International Ladies Garment Workers’ Union (ILGWU) strike in the early 1900s was inspired by poor working conditions and low wages. Economics USA: The Great Depression and the Keynesian Revolution Audio Transcript, Unit 18 An early proponent of environmental protection, he took action against 149 Wisconsin companies for pollution and authored legislation to establish the Ice Age National Scenic Trail. He is Founder and Chairman of Laffer Associates, an economic research firm that provides global investment services, and was also Founder of the Congressional Policy Advisory Board that helped shape legislative policies for the 105th-107th U.S. Congresses. He helped draft the Marshall Plan and was prominent in business and education. He chaired the American Enterprise Institute’s Council of Academic Advisors and served as interim president of the Institute in 1986. and Ph.D. in Economics from Harvard University. This video explains the concept of supply. Interviews, archival film, and contemporary video capture operations in business, finance, government, and politics. from the University of Wisconsin and his M.A. from the University of Chicago and Ph.D. from Harvard University. The U.S. auto industry lost a lot of mileage in 1973 with the rise of the more efficient Japanese imports. Economics USA: Federal Deficits Audio Transcript A comprehensive video tutorial series covering all the major Year 1/AS Macroeconomics content including useful tips regarding analysis and evaluation Microeconomics - Year 2 A Level and IB A run through some of the most difficult to grasp A2 microeconomics material. 18. Economics USA: Stagflation Audio Transcript, Unit 23 Chairman of the Board of Governors of the Federal Reserve System, 1979–1987, credited with leadership in ending a period of high and rising inflation and restoring a base for sustained growth. Earlier, he served on the Board staff as Adviser to the Board for Monetary Policy, Secretary of the Federal Open Market Committee, Director of the Division of Monetary Affairs, and Deputy Staff Director for Monetary and Financial Policy. Economics USA: Supply and Demand Video Transcript, Economics USA: Supply and Demand Audio Transcript, Economics USA: Perfect Competition/Inelastic Demand Video Transcript, Economics USA: Perfect Competition/Inelastic Demand Audio Transcript, Economics USA: Economic Efficiency Video Transcript, Economics USA: Economic Efficiency Audio Transcript, Economics USA: Oligopolies Video Transcript, Economics USA: Oligopolies Audio Transcript, Economics USA: Pollution and the Environment Video Transcript, Economics USA: Pollution and the Environment Audio Transcript, Economics USA: Labor and Management Video Transcript, Economics USA: Labor and Management Audio Transcript, Economics USA: Labor and Management Supplemental Audio Transcript, Economics USA: Profits and Interest Video Transcript, Economics USA: Profits and Interest Audio Transcript, Economics USA: Reducing Poverty Video Transcript, Economics USA: Reducing Poverty Audio Transcript, Economics USA: Reducing Poverty Supplemental Audio Transcript, Economics USA: Economic Growth Video Transcript, Economics USA: Economic Growth Audio Transcript, Economics USA: Public Goods and Responsibility Video Transcript, Economics USA: Public Goods and Responsibility Audio Transcript, Economics USA: Resources and Scarcity Video Transcript, Economics USA: Resources and Scarcity Audio Transcript, Economics USA: Boom and Bust Video Transcript, Economics USA: Boom and Bust Audio Transcript, Economics USA: The Great Depression and the Keynesian Revolution Video Transcript, Economics USA: The Great Depression and the Keynesian Revolution Audio Transcript, Economics USA: Fiscal Policy Video Transcript, Economics USA: Fiscal Policy Audio Transcript, Economics USA: Fiscal Policy Supplemental Audio Transcript, Economics USA: Inflation Video Transcript, Economics USA: Inflation Audio Transcript, Economics USA: The Banking System Video Transcript, Economics USA: The Banking System Audio Transcript, Economics USA: The Banking System Supplemental Audio Transcript, Economics USA: The Federal Reserve Video Transcript, Economics USA: The Federal Reserve Audio Transcript, Economics USA: Stagflation Video Transcript, Economics USA: Stagflation Audio Transcript, Economics USA: Productivity Video Transcript, Economics USA: Productivity Audio Transcript, Economics USA: Federal Deficits Video Transcript, Economics USA: Federal Deficits Audio Transcript, Economics USA: Federal Deficits Supplemental Audio Transcript, Economics USA: Monetary Policy Audio Transcript, Economics USA: Monetary Policy Supplemental Audio Transcript, Economics USA: Monetary Policy Video Transcript, Economics USA: Stabilization Policy Audio Transcript, Economics USA: Stabilization Policy Video Transcript, Economics USA: International Trade Audio Transcript, Economics USA: International Trade Supplemental Audio Transcript, Economics USA: International Trade Video Transcript, Economics USA: Exchange Rates Audio Transcript, Economics USA: Exchange Rates Video Transcript. These stories explain the role of banks in the U.S. economy and how government agencies act to prevent individual bank failures from becoming banking crises. This is a list of economics films. The debate on just how much the government should produce is highlighted in these stories. from the University of Wisconsin. Economics U$A: 21st Century Edition. Before joining Salomon Brothers, he served as an economist at the Federal Reserve Bank of New York. The series covering macro, micro, and international economics features Milton Friedman, Paul Samuelson, John Kenneth Galbraith, Alice Rivlin, and Ben Bernanke, among others. Dr. Kohn received his B.A. Because I want to understand how the world works.Economics, sometimes referred to as the queen of social sciences, is all about choice and is at the heart of all decision-making. Welcome to "The Economics of the Office," a compilation of curated video clips from the hit television series "The Office" that illustrate concepts in economics. Von Neuman Whitman received her B.A. Teacher response to the series has been overwhelmingly positive.”, “We have been delighted with the success we have achieved with the series, and I commend the Annenberg/CPB Project for developing and offering such a high quality, educationally sound film series.”, Marlboro Herald-Advocate, Bennetsville, SC In 1937 the Tennessee Valley Authority (TVA), a government-owned utility company, was created to electrify rural communities and control flooding. Distinguished Professor of History at George Washington University and Visiting Professor at Fudan University in China. Dr. Stein received his B.A. Wozniak received the National Medal of Technology in 1985 (along with Steve Jobs), was inducted into the National Inventors Hall of Fame, and in 2001 was awarded the 7th Annual Heinz Award for Technology, the Economy, and Employment. After retiring from politics, he taught at Harvard University’s John F. Kennedy School of Government, serving two years as Director of the Institute of Politics, then returned to Wyoming to practice law. Congressman from Wisconsin, 1955–1983, a staunch Democrat known for his progressive stands on a wide range of issues. Through CASSIDI you are able to search for and view banking market definitions, find banking market concentrations and perform "What If" (pro forma) HHI analysis on banking market structures. 1. Dr. Bernstein received his Ph.B. During the Depression he served in the Treasury Department, the Securities and Exchange Commission, and the Commerce Department. from the Massachusetts Institute of Technology and M.A. The series covers topics in economics, banking and monetary policy. from George Washington Law School. While Secretary of Defense, he opposed amnesty for draft resisters and pressed for the development of more sophisticated nuclear weapon systems. April 1990, “Marlboro County High School students use Economics U$A to study college-level economics, via Satellite Educational Resources Consortium. Formerly, she taught English as a Second Language at the American Language Institute in Washington, D.C.; was Director of English Language Learning at Euroschools of Italy; and was ESL Editorial Director at Regent’s Publishing International and at the American Book Company. online learning resources? Dr. Haskins received his B.A., M.A. Dean of the U.S. House of Representatives and currently its longest-serving member, having been a U.S. Senior fellow at the American Enterprise Institute and Chairman of the Council of Economic Advisers under presidents Richard Nixon and Gerald Ford. Economics USA: Perfect Competition/Inelastic Demand Audio Transcript, Unit 5 World War II saw an unprecedented period of economic growth. His contributions to national telecommunications policy led to the National Civil Service Award in 1970. Mr. Ruckelshaus received his B.A. ‘We know names and voices,’ said one student. from the Woodrow Wilson School of Public and International Affairs. Policy Director for the Campaign for America’s Wilderness, and Conservation Director and Associate Executive Director for the Sierra Club for 17 years. These videos are linked to the Open University’s Masters of Money series. Under Secretary of State for Foreign and Agricultural Affairs, under President Bill Clinton, and United States Ambassador to the United Nations Economic and Social Council, 1980–1981. She served as president of the Duke Farms Foundation and the Doris Duke Foundation for Islamic Art and became an IBM director in 2004. October 1987“For the past year the Florida Council on Economic Education network has been using the Economics U$A series in its teaching training offerings. from William Penn College and his M.A. Senior Fellow at the Cato Institute, Editor of the quarterly journal Regulation, and expert in the regulation of housing, land, energy, the environment, transportation, and labor. 23. from Rutgers University and Ph.D. in American Studies at Yale University. His writings exposed the beginnings of a federal spending spree that was pushing federal spending to dangerous limits; his budget research has been featured in front-page stories and editorials in the New York Times, the Wall Street Journal, the Washington Post, and the Los Angeles Times. First American economist to win the Nobel Prize in Economics, cited for doing “more than any other contemporary economist to raise the level of scientific analysis in economic theory.” Economic historian Randall E. Parker called him the “Father of Modern Economics” and the New York Times considered him the “foremost academic economist of the 20th century.” He spent his academic career at Massachusetts Institute of Technology (MIT), where he was awarded MIT’s highest faculty honor, and where he wrote the largest-selling economics textbook of all time: Economics: An Introductory Analysis. His academic achievements and on-stage talent led to his becoming the economic analyst for Economics U$A in the original and updated versions of the series, currently revised as Economics U$A: 21st Century Edition. Paul Volker’s monetary policy in the mid-1980s was designed to quell inflation once and for all. He has been Vice President of the American Economic Association and President of the Association of Public Policy and Management. from The College of Wooster and Ph.D. in Economics from the University of Michigan. Mr. Wozniak studied engineering at the University of California, Berkeley, then dropped out to take a job at Hewlett Packard. But in the wake of the 2008 Great Recession and the failure of regulators to act, the Dodd/Frank Wall Street Reform and Consumer Protection Act became law. The Internet is a technological innovation that paved the way for other innovations such as smart phones. At the Brookings Institution, he applied his growth-accounting methodology in Why Growth Rates Differ and How Japan’s Economy Grew So Fast. Mr. Aslett is a graduate of the London School of Printing. Born on a … Co-founder and Managing Partner of Federal Financial Analytics, Inc., a privately held company that provides analytical and advisory services on legislative, regulatory, and public-policy issues affecting financial services companies doing business in the U.S. and abroad. Mr. Pooley received his B.A. Jacques Barzun Professor in History and the Social Sciences at Columbia University, specializing in urban, social, and military history. Chairman of the U.S. Council of Economic Advisers under President Ronald Reagan and author or co-author of many articles and books that discuss the effects of monetary policy on financial markets and the economy. from the Fletcher School of Law and Diplomacy, and Ph.D. from George Washington University. Prominent attorney involved in many high-profile cases, including United States v. Microsoft, during which Bill Gates said that Boies was “out to destroy Microsoft” but the Washington Monthly called him “a latter-day Clarence Darrow.” He also represented Vice President Al Gore in Bush v. Gore; defended CBS in an action brought by General William Westmoreland; defended Napster when the company was sued for copyright infringement; and is representing filmmaker Michael Moore regarding a Treasury Department investigation into Moore’s trip to Cuba while filming for Sicko. Under President George W. Bush, he was Chief Economist for the Council of Economic Advisers and Director of the Congressional Budget Office. Wozniak has been given honorary degrees by the University of Colorado at Boulder, Kettering University, North Carolina State University, and Nova Southeastern University. This video explains the circular flow model. We offer a challenging and stimulating undergraduate experience. In addition to presentations to Congress and government agencies, she has spoken before the American Bankers Association, the Financial Services Roundtable, the American Bar Association, the Brookings Institution, the American Institute of Certified Public Accountants, the National Association of Manufacturers, and many other groups. He has served as President of the Eastern Economic Association, Vice President of the American Economic Association, and on the boards of the Council on Foreign Relations, the Bretton Woods Committee, and the Bellagio Group. Earlier, he was a Senior Fellow at the Center for Advanced Studies in Management at the Wharton School, President, and Senior Economic Consultant at the Committee for Economic Development, and Vice President of the Federal Reserve Bank, Chicago. His work encompasses banks, insurers, funds management firms, and other financial institutions. Kids learn that consumers buy goods and services to satisfy their wants and that producers make goods and services. She is a frequent speaker on topics affecting the financial services industry. Through the use of interviews, commentary and analysis, this series established a clear relationship between abstract economic principles and concrete human experiences.”, Skaneateles-Marcellus Pennysaver, Skaneateles, NY Liam Lenten, La Trobe University. He was a Fulbright Scholar at the Delhi School of Economics. 13. Economics USA: The Federal Reserve Audio Transcript, Unit 22 Senior Fellow in the Economic Studies Program of the Brookings Institution, specializing in telecommunications and cable television regulation, the effects of trade policy, environmental policy, and the changing regional structure of the U.S. economy. He oversees the work of more than 400 professionals who cover economic, financial, and political developments in 200 countries in North America, Europe, Asia, Latin America, the Middle East, and Africa. Mr. Brock received his B.A. from the University of Wisconsin. It covers both fictional and documentary films. Director of Occupational Safety and Health for UNITE HERE, a union representing garment, textile, laundry, hotel, and restaurant workers. Economist noted for his work on John Maynard Keynes. Since 1985, he has collaborated with EFC Film and Video as lead journalist on three television series, including the New York Times series Live From the Past; the Annenberg/Learner series Inside the Global Economy; and Economics U$A in the original and revised versions of the series, currently updated as Economics U$A: 21st Century Edition. Why Study Economics? In 1998, the U.S. government filed a suit against the world’s largest software company, Microsoft, for participating in anti-competitive practices. Economist and expert on the works of 20th-century economist Hyman P. Minsky, whose alternative theories for why the U.S. economy has periodic booms and busts have gained 21st-century recognition. Telecommunications attorney and law professor specializing in United States communications policy-making and regulation. Economics USA: Monopoly Video Transcript In 1929 following the stock market bottoming out, Simon Kuznets led an investigative study resulting in the first national data collection of Gross National Product (GNP). With Kodak, he developed pre-press production methods, which allowed national daily newspapers to print in color. In 1996, she tied for the number one analyst spot in the Textile and Apparel Industry. Dr. Tarshis received his B.A. He is a member of the American Philosophical Society, a Fellow of the Econometric Society, and a Fellow of the National Association of Business Economics. Stagflation from Princeton University, M.Sc. President George W. Bush appointed him a member of the President’s Foreign Intelligence Advisory Board, and, in 2009, President Barack Obama appointed him a member of the President’s Economic Recovery Advisory Board. He is a member of the Institute of Medicine, the American Academy of Arts and Sciences, the Advisory Committee of the Stanford Institute for Economic Policy Research, and the Visiting Committee of the Harvard Medical School, and he serves on the Board of Directors of Abt Associates and the Center on Budget and Policy Priorities. from Middlebury College, M.A. Professor of Business Administration and Public Policy at the University of Michigan since 1992, and Senior Staff Economist to the Council of Economic Advisers, 1970–1971. Prior to serving in Congress, he was the Associate Editor of the West Virginia Review at Charleston, West Virginia, and head of the department of public speaking and journalism at Davis and Elkins College. Currently he is the President of the American Action Forum and a Commissioner on the Congressionally-chartered Financial Crisis Inquiry Commission. This video explains the basics of the labor market. He often appeared in conflict with the Federal Reserve respecting monetary policy, favoring a more liberal policy than the Federal Reserve had been willing to allow. Author. Our Frank titles offer two unique video series. Economic Analyst A recognized authority in the field of economics and Professor of Economics at Harvard, where he held teaching and administrative positions over a span of 22 years. In 2009, rookie pitcher phenomenon Stephen Strasburg signed the largest rookie contract in baseball history. We have online video lectures focused on different topics related to economics. Adviser to the federal government during World War II, valued for his expertise in monetary policy. Educator and an architect of the 1955 merger of a divided trade union movement into the AFL-CIO. But a large tax cut in 2001, three wars, a down market and huge entitlement costs pushed the deficit and the national debt to an alarming new height that forced a fierce confrontation between Congressional Democrats and Republicans. He served in the federal government for almost 30 years, in posts that included President of the Federal Reserve Bank of New York and U.S. Treasury Under Secretary for Monetary Affairs, where he developed and implemented Treasury debt management and federal credit policies. He spent a good part of the Depression gathering unemployment statistics, which gave him a keen insight into the free enterprise system. from U.C.L.A. In response to 9/11, the U.S. Transportation and Security Administration replaced private security firms with federal employees. in Economics at the University of Missouri and M.B.A. and Ph.D. in Economics from the University of Chicago. Senator Simpson received his B.A. Perfect Competition & Inelastic Demand He also argued that keeping unemployment permanently lower would require a permanently accelerating inflation rate. After retiring from the University of Chicago in 1977, he became a Senior Research Fellow at the Hoover Institution at Stanford University. Ms. Learn how changes in the price of a good affect the quantity of the goods produced and how changes in market conditions will affect the supply curve. His recollections express the pride in workmanship of “a family working together” and capture the pathos and grief of the company’s workers as Studebaker failed and closed its doors. Director: Adam McKay | Stars: Christian Bale, Steve Carell, Ryan Gosling, Brad Pitt Votes: 355,293 | Gross: $70.26M We survey a long list of economic problems, and identify four basic questions that a course in political U.S. Earlier, he was the Director of the Financial Research Program at the National Bureau of Economic Research, where he invoked the usage of government-developed “economic indicators” (statistics about the economy). Dr. Heilbroner received his B.A. For 26 years preceding the creation of his company, he was Managing Director for Salomon Brothers, Inc., where he made a name for himself predicting the rise and fall of bond prices. Central Banker: News from the St. Louis Fed, In Plain English: Making Sense of the Federal Reserve, Economics and Personal Finance Glossary and Flashcards, Materials and Videos from Featured Events, Center for Household Financial Stability HOME, Manuals, Regulations, Laws & Other Guidance, Learn more about Econ Ed at the St. Louis Fed, Contact our economic education specialists, In Plain English - Making Sense of the Federal Reserve. A former chairman of the Trilateral Commission, he serves on many public and private boards, including the Group of Thirty, International House, and the Financial Services Volunteer Corps. He now owns and manages a radio station in Rehoboth Beach, Delaware. He has discussed budget policy on the major networks, and he participates in the bipartisan “Fiscal Wake-Up Tour” of town hall meetings that focuses on the crisis in Social Security, Medicare, and Medicaid. Economics USA: Resources and Scarcity Video Transcript He also had a distinguished academic career, beginning at Dartmouth and Amherst Colleges, then at Princeton University where he was twice Chairman of the Department of Economics and served as Acting Director of Princeton’s Woodrow Wilson School of Public and International Affairs. in Political Economy and Government from Harvard University and did postgraduate work at the London School of Economics. from Harvard University and B.Litt. Salant later joined the fiscal policy seminar at Harvard that trained economists in the Keynesian foundation. from the University of Michigan and J.D. Dr. Rasmussen received his B.A. Additionally, his support for the A-10 and the lightweight fighter program (later the F-16) helped ensure that they were carried to completion. He held a brief stint as a television reporter before returning to print, founding the critically acclaimed Boston Observer. In his 1999 book, When Government Was Good: Memories of a Life in Politics, he argued that a golden age in politics existed from 1948 to 1968, when the nation proved that it could achieve full employment, secure civil rights, and prevent nuclear war. Economist known as “The Father of Supply-Side Economics” because of his influence in shaping public policy during the 1980s, especially in the realm of tax cuts. Dr. Holland attended college in Kansas City and received his Ph.D. in Economics. Partner/Publisher at PrintPOD Inc., which uses the Internet and print-on-demand distribution to further the development of desktop publishing. Later, he became chairman of the firm of James D. Wolfensohn, Inc., concentrating on investment banking services to domestic and international organizations. He is co-author of two popular textbooks on macroeconomics. Managing Director and founding partner of De la Calle, Madrazo, Mancera, S.C. (CMM), specializing in international trade. He later served as Administrator of the National Telecommunications and Information Administration during the Carter presidency. In World War II, he won a Bronze Star as an infantryman and after the war served as deputy general counsel for the Marshall Plan. The Production Possibilities Frontier in Sociology from Harvard College and an M.A. He was Republican whip, 1985–1995, and Chairman of the Veterans’ Affairs Committee, 1981–1987 and 1995–1997. Supply and Demand Mr. Weil received his B.A. He also served as Research and Education Director for the Amalgamated Meat Cutters Union and for the American Federation of Labor-Congress of Industrial Organizations (AFL-CIO) Industrial Union. He later became a Professor of Economics at Yale University, an economic columnist for Newsweek magazine, and a Senior Consultant for the U.S. Treasury Department. Jackson received his B.A. He has also served on the Subcommittee on Communications and Technology, the Subcommittee on Energy and Power, and the Subcommittee on Environment and Economy. from Harvard University and L.L.B. He served as an adviser to Presidents John F. Kennedy and Lyndon B. Johnson, and to the United States Treasury, the Bureau of the Budget, and the President’s Council of Economic Advisers. In 2008, he studied press coverage of climate change issues at Harvard’s Kennedy School of Government and has written about climate change politics for Time, Slate, Bloomberg News, and other publications. The Federal Reserve Senator John Durkin’s administrative staff, and worked for the Senate and House of Representatives for several years. Previously, he taught at the University of Maryland, served as Assistant Secretary for Planning and Evaluation at the Department of Health, Education, and Welfare, and chaired the 1979 Advisory Council on Social Security. In 1914, the federal government was sold on the concept of universal telephone service provided by Ma Bell, a monopoly that was ended by the development of a new technology. Pioneer in the development of the U.S. National Income and Product Accounts, with an international reputation as the originator of “growth accounting,” the identification and quantification of the sources of growth in real national income/product. from the London School of Economics, and Ph.D. from the Massachusetts Institute of Technology. He has researched financial institutions or worked directly with them as clients in a range of capacities, including as an equities analyst, credit analyst, mergers and acquisitions specialist, relationship officer, and specialist in securitizations. and M.A. He developed the first “voluntary” wage-price guidelines and was one of the first to emphasize that tax deductions and tax preferences narrowed the income tax base. Also in the 1980s, U.S. citizens began to feel the debilitating effects foreign trade would have on job loss. He is famous for inventing the “Laffer Curve,” deemed by Time magazine “one of the few advances that powered this extraordinary century.” He has taught at Pepperdine University, the University of Southern California, and the University of Chicago. In 1956, he became Professor of Public Welfare Administration at the University of Michigan, until President John F. Kennedy appointed him Assistant Secretary for Legislation of Health, Education, and Welfare. Dr. Bernanke received his B.A. From 1944 to 1973, he was also a professor at Columbia University/Barnard College. Economics USA: Productivity Audio Transcript, Unit 24 Dr. Sprinkel received his B.S. By 1916 Henry Ford’s assembly line had lowered the price of the Model T to $360, making it affordable and increasing its production exponentially in two years. Learn about economic theory, trade deficits, decision making skills and more in this series of short video lessons. She lectured in economics at the University of Pittsburgh, where she became the Distinguished Public Service Professor of Economics. Economics USA: Boom and Bust Audio Transcript, Unit 17 Economics USA: Fiscal Policy Video Transcript Founder and President of the Information Technology and Innovation Foundation (ITIF), a policy think tank. Economics USA: Supply and Demand Audio Transcript, Unit 4 He has also appeared on CNN, CNBC, Fox News Channel, and Voice of America. Viewers will get a refresher on the laws of supply and demand before they learn about market equilibrium—the point at which there is no shortage or surplus of a good or service. Public Goods and Responsibilities This site streams free videos from a range of thinkers, activists, and academics. Presiding during a period of economic turmoil, his Federal Reserve chairmanship has been contentious. Dr. Holtz-Eakin received his B.A. Richard Gill Chief Economist for the U.S. Department of Commerce, 1976–1977. A leader in the U.S. trade union movement, where he rose to the highest ranks of the United Auto Workers (UAW). He received the National Medal of Technology and was inducted into the Operational Research Hall of Fame. Big Picture TV has a specialist economics area. in Public Policy from the John F. Kennedy School of Government, and J.D. As Merck’s Vice President for Global Health Policy, he directed U.S. policy and represented Merck before Congress, the Administration, and the media. He worked at the Federal Communications Commission (FCC) at several intervals from 1949 until 1973, serving as General Counsel and then as Assistant to FCC Chairman Dean Burch. Senator from Wyoming, 1979–1997, and Co-Chair of President Barack Obama’s 2010 National Commission on Fiscal Responsibility and Reform. In 1959, a reporter for the Knoxville News-Sentinel discovered a price-fixing scandal between three big-name electric companies in each of their closed bids to the Tennessee Valley Authority. Dr. Carson received her B.A. Following the Arab oil embargoes of 1973, the Nixon administration latched onto the world price of “new” oil, encouraging domestic oil suppliers to drill again. Mr. Cohen received his B.A. He also served as Chairman of the Board of Barnett Investment Services, Inc., and as a Director of a number of private companies and banks, including Transco Energy Company, the American Heritage Life Insurance Co., Riverside Group, Inc., Family Steak Houses of Florida and Southeast Atlantic Corp, Wickes, Inc., and Barnett Banks, Inc. Mr. Schultz received his B.A. When the Observer lost its funding, he worked for Inc. magazine before joining the Washington Post. from the University of Washington and a Ph.D. in Economics from Harvard University. In the Senate, Brock was a favorite of the conservative movement, and he continued in Republican politics, after he lost his bid for re-election to the Senate, to become the campaign manager for Senator Bob Dole’s presidential campaign. and Ph.D. from the University of Chicago. In 1932 President Herbert Hoover spoke enthusiastically about financial recovery while John Maynard Keynes expressed doubts. Owner and President of the Boras Corporation, a sports agency that represents many of the highest-profile players in professional baseball. Competition with General Motors eventually rendered Ford’s single-option Model-T obsolete. Congressman from West Virginia, 1933–1947, and U.S. Senior fellow at the American Enterprise Institute and Chairman of the Council of Economic Advisers under presidents Richard Nixon and Gerald Ford. and J.D. Explore data, research and more in FRASER, our digital library. He moved east in search of advanced education and work, finding both in Washington, D.C., where he became the Dean of Agricultural Historians and served eleven Secretaries of Agriculture over a fifty-year period. He is also a Trustee of the Council on Foreign Relations and a member of the Trilateral Commission, the Group of Thirty, the American Academy of Arts and Sciences, and the Council of Academic Advisors of the American Enterprise Institute. from Georgetown University Law School. from Columbia University and Ph.D. in Economics from the New School for Social Research. From 1933 to 1946, he was an attorney for the Agricultural Adjustment Administration, a consultant to the Senate on social, economic, industrial, and financial issues, legislative assistant to Democratic New York Senator Robert F. Wagner, and General Counsel to the U.S. Housing Authority, Federal Public Housing Authority, and National Housing Agency. She has been interviewed and quoted by many fashion and New York magazines regarding her opinions on the fashion trade. As Chairman of the CEA, McCracken pursued economic policies of restraint to curb inflation without increasing unemployment. Economics USA: Monetary Policy Video Transcript, Unit 26 Principal Economist for the U.S. Treasury, 1940–1946, during which time he also served as Assistant Director of the Monetary Research Division and Assistant to the Secretary of the U.S. Treasury Department. from Williams College and Ph.D. in Economics from the University of Chicago. Dr. Kaufman received his B.A. Prior to 1946, he worked at the National Bureau of Economic Research, where he compiled centralized data that led to the 1926 publication of Business Annals, a book of economic statistics for 17 countries dating back to 1890. Covers a simplified version of the SIR model of epidemics, justifying healthcare expenditure, and flattening the curve. from the University of Michigan, and Ph.D. in Economics from Columbia University. Influential American economist of the 1960s and Chairman of President John F. Kennedy’s Council of Economic Advisers, 1961–1964. Oligopolies In retirement, he has served as a telecommunications adviser for nongovernmental organizations, including Duke University’s Washington Center for Public Policy Research, the Rand Corporation, and the Markle Foundation. Economics USA: Exchange Rates Audio Transcript Bush’s Council of Economic Advisers and as a Faculty Research Fellow and Research Associate at the National Bureau of Economic Research. In 1970, after eleven different sponsorships from Randolph, amendments to the Voting Rights Act lowered the voting age to 18 in both local and national elections. Following WWII, rent controls established to aid returning war veterans cut into landlord profits and consequently led some to abandon properties. In 2002, he was appointed as a member of the Federal Reserve Board, where he served until becoming Chairman of the President’s Council of Economic Advisers, 2005–2006. Economics U$A: 21st Century Edition has been reconfigured in keeping with the teaching of modern economic principles, placing microeconomics first, followed by macroeconomics, and ending with two programs on global economics. This website for Economics U$A: 21st Century Edition integrates elements from the Annenberg Learner telecourse in an easy-to-navigate interactive environment, helping to advance knowledge of micro and macro economic principles for college students and high school students, teachers and administrators. Dr. Kahn received his B.A. I recommend all of the videos but have only included the ones that match our course in the following list of twelve videos. The unemployment rate is one of the most important pieces of economic data that economists study. The economy has a frontier—an outer limit of economic production. from the University of Toronto and M.A. Keynes published The General Theory of Employment, Interest & Money in 1936, displaying ideas that later became the basis for public policy in Washington. WAYNE RASMUSSEN. President of Henry Kaufman & Company Inc., which specializes in financial and economic counseling as well as investment management. 24. In 1972 a group of experts known as the Club of Rome issued a report called “The Limits to Growth,” predicting that raw materials could run out and world population growth and pollution could get out of hand. Inflation These stories highlight the factors that affect productivity and how government programs have both helped and hindered growth. Dr. McCracken received his B.A. from the College of Wooster, M.A. Keynes and how the theory behind Keynsian economics explained the Great Depression. He has taught economics at Northwestern University, MIT, the University of Maryland, and George Washington University, and at the Stanford in Washington program. His “Economics I” became the largest elective course in the history of Harvard College, where he also served as Assistant Dean. Under Gotbaum’s leadership, DC37 successfully organized thousands of municipal hospital workers and helped create New York City’s Office of Collective Bargaining. He is President of DHE Consulting, LLC, and has served as Director of the Maurice R. Greenberg Center for Geoeconomic Studies and the Paul A. Volcker Chair in International Economics at the Council on Foreign Relations, as well as a senior visiting fellow at the Peterson Institute for International Economics. His published works include American Vistas, Cities in American History, and Crabgrass Frontier: The Suburbanization of the United States.Dr. Prior to joining the private sector, he served as Under Secretary for International Trade Negotiations in Mexico’s Ministry of the Economy, under former presidents Vicente Fox and Ernesto Zedillo, negotiating several of Mexico’s bilateral free trade agreements and regional and multilateral agreements with the World Trade Organization. In 2009, he garnered controversy for a column he published lambasting Republican politicians for blocking new health-care legislation. During the war, he was associated with the rubber and chemical branches of the Office of Price Administration. Economics USA: The Banking System Video Transcript Learn how the laws of supply and demand determine the wage and quantity of labor employed in various labor markets.