Bond markets (from lowest to highest risk):
- federal bonds ---> risk -free asset
- municipal gov. bonds
- corporate bonds
investment grade
"junk bonds" --> high-risk
risk v. return
The Bond Market
- we will assume only simplest form of a bond
"zero-coupon" bond
- FV = face value = amount borrower must pay on the maturity date
- maturity date: date when bond comes due
- Fed. govt. promises to pay $10,000 on July 1, 2017
- Generally, zero-coupon bonds sell for a price below face value
Suppose: FV = $1,000
price = $950
Interest rate: FV - price x 100%
price
Int. rate = 1000 - 950 x 100% = 5.3%
950
Find an interest rate on a bond:
FV = 6000
price = $5,520
i = 8.7%
(see notes A)
***For a given FV, the lower the price, the higher the interest rate.
Inverse relationship. Mathematical certainty.
(see notes B)
If a price of a bond falls, the demand for the quantity of bonds increases.
(see notes C)
If a price of a bond falls, the quantity of bonds supplied decreases.
(see notes D)
equilibrium Pb and Qb.
If there is an increase in borrowing, there would be an increase in supply of quantity of bonds. Pb falls, IR increases.
(see notes E)
Investment. Investment is sensitive to interest rates.
At high interest rates, investment is low.
At low interests rates, investment is high.
(see notes F)
3 diagrams
inc. in demand for bonds =
results: price of bonds rises
IR falls
AD shifts to the right (increases)
The Money Market
Theory of Liquidity
Preference (Keynes)
How do households decide how much of their assets to hold as money v. bonds?
Money
convenient/liquid
no interest
Bonds
not as liquid or convenient
pay interest
Thursday, November 1, 2012
Monday, October 15, 2012
Jour 480
Sara Ehlers
Chris Erskine
1. What made you move from copy
editor to graphics coordinator?
2. Did you always know you wanted
to take part in graphics for the LA times or did you originally plan to be a
staff writer/copy-editor?
3. What made you finally move to
L.A. after 11 years in New Orleans?
400 Words on one place that you would like to travel that you’ve never
been before and why you want to go where you want to go.
One place I want to travel to that
I’ve never been before is New York. I know it doesn’t seem like much to the
average American citizen--it’s not even out of the country, but something about
the city and the ambiance of all that is New York draws me in. Two main reasons
I’m probably drawn to New York first of all are my major and minor choices for
school: Journalism and fashion. Those alone are two fantastic reasons to get to
the city. But that’s not all that sells me on the idea. Every time I watch a
movie or television show where New York city is the setting, I dream of one day
being able to walk those busy streets and participate in all of the New
Yorkness that city has to offer. I’ve lived in southern California for most of
my life, and as much as I love L.A., there’s something I will always feel is
partly missing if I never even get to experience New York. Another small reason
is also that I love the seasons on the east coast. In my elementary school days
I lived in Virginia, and all year round we had four different seasons: spring,
summer, fall, and winter. In California all I’ve experience is summer 75% of
the time and then a rainy season in the winter. I really miss snow, and I know
that it can also be a hassle but I would love to experience snow again. And not
the Big Bear, Mountain High type of snow where you drive an hour and rent a
snowboard; I’m talking about the snow in your front yard,
walking-down-the-street-to-the-local-coffee-shop-in-a-peacoat-and-boots snow.
Therefore, if I do travel to New York, I would prefer to go sometime in the
winter. Since I’ve lived in Cali, I
haven’t moved more than an hour from where I spent my middle school and high
school days. I would love to travel to New York as a vacation for a week, or
even try living there for about a year just to see where I fit in. Everyone
comes to that city—this I already know—but I think that’s part of what makes it
sort of wonderful. The people that are drawn to that city are the same people
who are like me, who want to make a future there and start living a fabulous
and busy life. I don’t think it’s wrong to want to spend a few days there
seeing if I really belong or if New York is more glammed up than it really is. Over
the years, I also can say that the mere fact alone that there are so many songs
and movies about New York should be evident enough that the city has to be
great. There are many songs and movies and television shows about California,
and from living here I know it’s because California’s amazing so I can only
hope the same goes for New York. I guess at this point, there’s really no
swaying me, as the Billy Joel song goes, “I’m in a New York state of mind.”
Wednesday, October 3, 2012
Jour 480
Homework due Monday:
Who were the 2 incumbents, who after the debates were over, lost in the general election?
Story filled with statistics and facts
Debate
Tell me when the first televised debate was, and who were the people in it
Who were the three moderators for the debates this year
Bottom of the paper: Story was in the La times business section either oct 1 or 2, what's the number 1 hamburger chain in the country
--
In election history, there have been two incumbents who lost in the general election: Jimmy Carter and George H.W. Bush. Carter lost to Ronald Reagan due to their debate on Oct. 28, 1980. Reagan’s quips and fast responses were able to give him the lead in votes after the debate. One of his famous lines from his debates was, “I am not going to exploit, for political purposes, my opponent’s youth and inexperience,” which caused Reagan to win in a landslide. George H.W. Bush lost the election to Bill Clinton. During the debate it is said that Bush looked at his watch and seemed apathetic about the debate, therefore he did not seem too connected to the problems of the people or his country. Clinton, however, did the opposite by walking around the stage talking to people around the audience. Clinton was able to connect on a more emotional level and therefore seemed more focused on the election at hand.
Who were the 2 incumbents, who after the debates were over, lost in the general election?
Story filled with statistics and facts
Debate
Tell me when the first televised debate was, and who were the people in it
Who were the three moderators for the debates this year
Bottom of the paper: Story was in the La times business section either oct 1 or 2, what's the number 1 hamburger chain in the country
--
In election history, there have been two incumbents who lost in the general election: Jimmy Carter and George H.W. Bush. Carter lost to Ronald Reagan due to their debate on Oct. 28, 1980. Reagan’s quips and fast responses were able to give him the lead in votes after the debate. One of his famous lines from his debates was, “I am not going to exploit, for political purposes, my opponent’s youth and inexperience,” which caused Reagan to win in a landslide. George H.W. Bush lost the election to Bill Clinton. During the debate it is said that Bush looked at his watch and seemed apathetic about the debate, therefore he did not seem too connected to the problems of the people or his country. Clinton, however, did the opposite by walking around the stage talking to people around the audience. Clinton was able to connect on a more emotional level and therefore seemed more focused on the election at hand.
The
first televised debate was on Sept. 26, 1960 between John F. Kennedy and
Richard Nixon. This changed the history of presidential elections for
generations to come. Due to the presidential debates, Kennedy was able to win
over most of the nation’s vote in his speech and personality, where Nixon fell
short. This event was important because it now sets the platform for how
debates and campaigns for presidential elections have continued over the years,
and televised debates are still a big part of the election even today.
The three moderators for the debates
this year are Jim Lehrer of PBS, Bob Schieffer of CBS, and Candy Crowley of
CNN. This was a controversial announcement because Crowley will be the first
woman to moderate a presidential debate since Ms. Simpson of ABC in 1992. There
was an online petition entitled “It’s Time for a Female Moderator” that gained
more than 100,000 supporters. The petition was initiated by three 16-year-olds
from New Jersey. The 16-year-olds never actually had the chance to meet with
the commission’s office to deliver the petition, but by then Crowley was
already being considered for being a moderator.
Oh
by the way, the number 1 burger chain the U.S. is Five Guys. I’ve never had a
burger there, but it beat In-N-Out so now I definitely must try it.
Sources:
www.tusconcitizen.com/usa-today-news/2012/10/02/presidents-often-struggle-in-first-debates
Monday, September 24, 2012
Jour 480
Propositions
30 - taxes for school funding - yes
31 - fiscal budget - neutral
32 -
33 -
34 -
35 -
36 -
37 -
38 -
39 -
40 -
Michael Anatassi grad csulb
editor of salt late city tribune
president of associated press sports
- get multiple photos
lb torrance la daily news
riverside
pasadena
went to emmys and covered the emmys
30 - taxes for school funding - yes
31 - fiscal budget - neutral
32 -
33 -
34 -
35 -
36 -
37 -
38 -
39 -
40 -
Michael Anatassi grad csulb
editor of salt late city tribune
president of associated press sports
- get multiple photos
lb torrance la daily news
riverside
pasadena
went to emmys and covered the emmys
Wednesday, September 19, 2012
Jour 480 Week 4: Beach Byline Ideas
Beach Byline Ideas:
Michelle Zenarosa, editor of voicewave
E-Portfolios Dan Olsen, Dr. Burnett, Dr. Paskin
Alex Petersen - now works for the Romney campaign
Eric Draper update - Mitt Romney
Dig Ideas:
candidate platforms
Leads:
Direct (summary lead)
Indirect (soft/feature)
Quote
Question (avoid; use sparingly)
Impact (emphasizes how and why, doesn't tell details; tells ready why he or she should care)
valley elem kids got sick and went to the hospital
kids ate toxic cheese
how did this happen?
margarette otol,
"it certainly wasn't one of the favorites" january 13th, on top of old smoky mac and cheese with green salad roll and jello
non specific food bourne illness, pretty sure it
nausa vomitting dizziness
several children had allergic systems
it seemed like a busload
one kid had to be held overnight
marcus, dickie
shady dale medical center
fourteen kids
valley students sick
and chills
age from 7 to 10
food poising symptoms, said emergency room phsyciicans at shady dale
margaret o'toole
dickie was a first grader should be released the 14th
scofield farms cheese
president lyle scofield, gave homless people fresh cheese
december 15, fire destroys cheese, $1 million dollars damage cheese melted everywhere, toxic smoke in the air
january 4, fire-tainted cheese; any of the cheese salvaged last month from the warehouse ' toxins in these amounts won't kill you, but they sure would mlake you sick, ' william newton health officer, causes nausea, vomiting
'all the containmated cheese was thrown out '
delivered to medina dump, 1 detritus way, 24 cases by W. Stuckey, driver Richard Marcus, jan. 6, plastic burning
president lyle scofield, 'i still have nightmares about it' the state condemned all the cheese, lucky for us , cartright insurance reimbursed cartwright
karnoxifen
maddoxa
stryozene, contaiminants deposited jan 6 check,
replaced expired cheese immediately with homeless
no cheese has been reported to the dump
exclusive distributer for the last 20 years, spokesperson dominique deneau, of olympus wholesalers
lee cartwright, insurance agent, the cheese was officially condemned
dated october 23 hercules salvage must clean it
hercules salvage
comptroller delilah grissom
lot #101
ken beckner sent it to the wholesale instead of the dump
dr. george pang er physician,
'i was the one that called the paper ' richard marcus
hercules salvage
wholesalers owns hercules salvage
elementary gets their cheese from olympus wholesalers
scofieled farms smokey cheddar lot 101
assignment:
Michelle Zenarosa, editor of voicewave
E-Portfolios Dan Olsen, Dr. Burnett, Dr. Paskin
Alex Petersen - now works for the Romney campaign
Eric Draper update - Mitt Romney
Dig Ideas:
candidate platforms
Leads:
Direct (summary lead)
Indirect (soft/feature)
Quote
Question (avoid; use sparingly)
Impact (emphasizes how and why, doesn't tell details; tells ready why he or she should care)
valley elem kids got sick and went to the hospital
kids ate toxic cheese
how did this happen?
margarette otol,
"it certainly wasn't one of the favorites" january 13th, on top of old smoky mac and cheese with green salad roll and jello
non specific food bourne illness, pretty sure it
nausa vomitting dizziness
several children had allergic systems
it seemed like a busload
one kid had to be held overnight
marcus, dickie
shady dale medical center
fourteen kids
valley students sick
and chills
age from 7 to 10
food poising symptoms, said emergency room phsyciicans at shady dale
margaret o'toole
dickie was a first grader should be released the 14th
scofield farms cheese
president lyle scofield, gave homless people fresh cheese
december 15, fire destroys cheese, $1 million dollars damage cheese melted everywhere, toxic smoke in the air
january 4, fire-tainted cheese; any of the cheese salvaged last month from the warehouse ' toxins in these amounts won't kill you, but they sure would mlake you sick, ' william newton health officer, causes nausea, vomiting
'all the containmated cheese was thrown out '
delivered to medina dump, 1 detritus way, 24 cases by W. Stuckey, driver Richard Marcus, jan. 6, plastic burning
president lyle scofield, 'i still have nightmares about it' the state condemned all the cheese, lucky for us , cartright insurance reimbursed cartwright
karnoxifen
maddoxa
stryozene, contaiminants deposited jan 6 check,
replaced expired cheese immediately with homeless
no cheese has been reported to the dump
exclusive distributer for the last 20 years, spokesperson dominique deneau, of olympus wholesalers
lee cartwright, insurance agent, the cheese was officially condemned
dated october 23 hercules salvage must clean it
hercules salvage
comptroller delilah grissom
lot #101
ken beckner sent it to the wholesale instead of the dump
dr. george pang er physician,
'i was the one that called the paper ' richard marcus
hercules salvage
wholesalers owns hercules salvage
elementary gets their cheese from olympus wholesalers
scofieled farms smokey cheddar lot 101
assignment:
Last
night fourteen kids were sent to the hospital due to toxic cheese served at
Valley Elementary School. The children were experiencing vomiting, nausea, and
chills. Thirteen of the kids were released the same day, Jan. 13, but Dickie
Marcus, a first grade student at Valley Elementary School stayed over night. The
main question of how the children became sick was how the toxic cheese got to
the cafeteria of the elementary school.
The cheese came from Scofield Farms Cheese Co., which is owned by Olympus Wholesalers. On Dec. 15, there was a massive fire, which destroyed a great amount of cheese at the company. There was over $1 million damage in melted cheese everywhere. The air around was toxic and tainted all other cheese in the building. Therefore, the cheese leftover had been condemned as tainted cheese. The contaminants present in the cheese were karnoxifen, maddoxa, and stryozene. “Toxins in these amounts won’t kill you, but they sure would make you sick,” said William Newton, health officer. Newton said symptoms include nausea and vomiting.
The tainted cheese was in lot #101 of Scofield Farms and was supposed to be taken to the dump on Jan. 6. Lyle Scofield, the president of Scofield Farms authorized the contaminated cheese to be thrown out to Median Dump. Hercules Salvage, a sister company of Olympus Wholesalers, was responsible for cleaning up the mess at Scofield Farms Cheese after the contaminated cheese had been delivered to the dump. Hercules Salvage had no record of cleaning Scofield Farms. Medina Dump also had no record of receiving any of the damaged cheese. Driver Richard Marcus, who works for Hercules Salvage, was instructed instead to deliver the cheese back to Olympus Wholesalers, which then led for the cheese to end up at Valley Elementary School.
This is not the first incident where Scofield has had an issue with contaminated cheese. Two years back they had accidentally distributed out expired cheese to the homeless, but immediately replaced it when they had realized the issue. This time the contamination was affecting children from ages seven to ten, leaving a first grade student, Dickie Marcus, overnight for treatment at Shady Dale Hospital. Luckily, Marcus was released on Jan. 14 and presently has no fatal issues.
The cheese came from Scofield Farms Cheese Co., which is owned by Olympus Wholesalers. On Dec. 15, there was a massive fire, which destroyed a great amount of cheese at the company. There was over $1 million damage in melted cheese everywhere. The air around was toxic and tainted all other cheese in the building. Therefore, the cheese leftover had been condemned as tainted cheese. The contaminants present in the cheese were karnoxifen, maddoxa, and stryozene. “Toxins in these amounts won’t kill you, but they sure would make you sick,” said William Newton, health officer. Newton said symptoms include nausea and vomiting.
The tainted cheese was in lot #101 of Scofield Farms and was supposed to be taken to the dump on Jan. 6. Lyle Scofield, the president of Scofield Farms authorized the contaminated cheese to be thrown out to Median Dump. Hercules Salvage, a sister company of Olympus Wholesalers, was responsible for cleaning up the mess at Scofield Farms Cheese after the contaminated cheese had been delivered to the dump. Hercules Salvage had no record of cleaning Scofield Farms. Medina Dump also had no record of receiving any of the damaged cheese. Driver Richard Marcus, who works for Hercules Salvage, was instructed instead to deliver the cheese back to Olympus Wholesalers, which then led for the cheese to end up at Valley Elementary School.
This is not the first incident where Scofield has had an issue with contaminated cheese. Two years back they had accidentally distributed out expired cheese to the homeless, but immediately replaced it when they had realized the issue. This time the contamination was affecting children from ages seven to ten, leaving a first grade student, Dickie Marcus, overnight for treatment at Shady Dale Hospital. Luckily, Marcus was released on Jan. 14 and presently has no fatal issues.
Wednesday, September 12, 2012
Jour 480 Week 3
"News is anything you know now, that you did not know fifteen minutes or fifteen seconds ago."
News judgment: the ability to determine which stories are most interesting and important to readers.
7 Elements of News:
1. Impact
2. Immediacy
3. Proximity
4. Prominence
5. Novelty
6. Conflict
7. Emotion
Assignment #1
1. A forensic team in Mexico is at a mass grave site, team of forensic experts is trying to determine who is in this mass grave to help some migrants have closure
2. US department of homeland security, multibillion dollar version of biowaitt system detecting biological attacks (not sure if it is needed or if it will work)
3. state of Colorado is a toss up state (battleground) at one time Obama was well ahead but not anymore
4. more and more doctors coming to trial for over prescribing medicines for their patients; DA says "Enough is enough, doctors are not above the law."
5. despite city regulations in SF, people are going around the city and planting fruit trees illegally
Assignment #2:
Stephanie Aguilar
journalism, comm
third year
20
i actually applied for ucsb, didn't get accepted, i wanted to be an english major there
i like writing.
Norwalk, La county, lived there whole life
Born in Bellflower
Thinking of getting into p.r.
Publics Relations Specialist
Press Release for a company
have a steady work
I plan on doing an internship with p.r.
Trying to maintain a 3.0, get a's and b's
considering grad school
going to concerts, shows, went to a punk show
drinking, go out, write poetry, sing
been writing since "I've been writing poetry and things like that but I've never written journalism [before]."
Sings acappella , looking for a guitarist/ukelele player/piano player
hikes every day, whittier turnbull, eaton canon, santa anita canon,
i used to run alot like five miles , "It was getting repetitive and kind of boring, it was more for aesthetics instead of for being healthy,"
"It clears your mind, I like going especially when I'm stresed out from school"
"it's like walking but more intense"
Into philosophy
Francis Bacon, his philosophical views, he grew up rich empowered lowerclass
into music
Fleetwood Mac, Stevie Nicks, woman empowering, talks about angst of women
"It got me through my first love, especially the song 'Dreams,'" said Stevie Nicks.
I also write lyrics and stuff like that
est. graduation in two years
spring 2014, or 15
lives at home
News judgment: the ability to determine which stories are most interesting and important to readers.
7 Elements of News:
1. Impact
2. Immediacy
3. Proximity
4. Prominence
5. Novelty
6. Conflict
7. Emotion
Assignment #1
1. A forensic team in Mexico is at a mass grave site, team of forensic experts is trying to determine who is in this mass grave to help some migrants have closure
2. US department of homeland security, multibillion dollar version of biowaitt system detecting biological attacks (not sure if it is needed or if it will work)
3. state of Colorado is a toss up state (battleground) at one time Obama was well ahead but not anymore
4. more and more doctors coming to trial for over prescribing medicines for their patients; DA says "Enough is enough, doctors are not above the law."
5. despite city regulations in SF, people are going around the city and planting fruit trees illegally
Assignment #2:
Stephanie Aguilar
journalism, comm
third year
20
i actually applied for ucsb, didn't get accepted, i wanted to be an english major there
i like writing.
Norwalk, La county, lived there whole life
Born in Bellflower
Thinking of getting into p.r.
Publics Relations Specialist
Press Release for a company
have a steady work
I plan on doing an internship with p.r.
Trying to maintain a 3.0, get a's and b's
considering grad school
going to concerts, shows, went to a punk show
drinking, go out, write poetry, sing
been writing since "I've been writing poetry and things like that but I've never written journalism [before]."
Sings acappella , looking for a guitarist/ukelele player/piano player
hikes every day, whittier turnbull, eaton canon, santa anita canon,
i used to run alot like five miles , "It was getting repetitive and kind of boring, it was more for aesthetics instead of for being healthy,"
"It clears your mind, I like going especially when I'm stresed out from school"
"it's like walking but more intense"
Into philosophy
Francis Bacon, his philosophical views, he grew up rich empowered lowerclass
into music
Fleetwood Mac, Stevie Nicks, woman empowering, talks about angst of women
"It got me through my first love, especially the song 'Dreams,'" said Stevie Nicks.
I also write lyrics and stuff like that
est. graduation in two years
spring 2014, or 15
lives at home
Tuesday, September 4, 2012
Econ 100 Week 2
HOMEWORK DUE THURSDAY 09/06:
Bring enrollment form for adding.
Economy in the News:
- Labor force participation
- Paul Ryan's speech
-- "Right now 23 million men and women are struggling to find work. Twenty-three million are unemployed or underemployed."
-- 12.8 million are actually unemployed
Social security system:
-- pay as you go-->the people who are working pay for those who are retired
-- Older people staying in the workforce longer benefits younger
BLS --> A-15 Alternative Measures of Unemployment (gray areas)
(http://www.bls.gov)
-- biggest number is the U-6 15%
-- definition of U-6:
U + persons "marginally attached" to the labor force + total employed part time for economic reasons =
(to be marginally attached meaning: neither working, nor looked for work in the last four weeks, but persons who are available and wanted a job)
PT-ers prefer to work FT but can't due to economy; PT is considered employed
-- 2.5 million "marginally attached" there is 0.8 million discouraged workers
--> so most people are not discouraged in the 15%
-- Ryan got his 23 million from the U-6 number = 15%
Types of Unemployment (3)
1. Frictional Unemployment
-- Those unemployed because it takes time for employees and employers to find each other.
-- "making a match between a worker and employer"
-- What is needed for a good match:
-- May - graduating college - hard to get a job
-- Always exists, generally a good thing
-- Permanent feature of the macroeconomy
-- It serves a purpose
-- It's usually fairly short-term unemployment
2. Cyclical Unemployment
-- Unusually high unemployment that occurs due to a recession
--> When the economy recovers to a more normal level of production, cyclical unemployment goes away
-- can be short term or long term
3. Structural Unemployment
-- Tends to be long-term
-- Results from a fundamental mismatch between job skills and job openings
-- Often caused by technological progress--> replacing workers with machines
-- Having a job skill in a declining industry: self check out, print media, mail
-- Solution: job retraining programs, education
-- At any given time, observed unemployment may consist of:
frictional + structural (+ possibly cyclical) = TOTAL = 12.8 million
Natural rate of unemployment ( U*): long run average level of unemployment = U* ~ 5%
[ Theoretical concept ]
GDP: Gross Domestic Product
-- Value of a nation's total production
-- Real V. Nominal GDP
-- Real: adjusted for inflation
-- Nominal: we sum the quantity of output produced x current market price for all goods and services that are produced in the economy
-- Real GDP - measure holds price constant
Nominal GPD - Real GDP
Year 1 100 - 100
Year 2 120 - 104
Year 3 140 - 103
Nominal GDP - determine if it's good or bad. When it goes up or down, could be either way, it depends on why it's going up.
Real GDP - Year 1 -->2 we produced more things so it's a good thing; Year 2-->3 bad we're making fewer products
* Economists prefer real GDP - tells us how production is changing
Real GDP <-> Real Output
Business cycle:
-- A pattern of expansion and contraction of real GDP
-- These cycles are endemic to market economies
| | - (Trend)
Real GDP | | -
| - |
| - |
| - |
|________|____________
Time (100 years)
* First dotted line (above time) represents expansion up until it hits peak, then downturn to the trough, then recovery up back to peak or past (goes up and down)
Bring enrollment form for adding.
Economy in the News:
- Labor force participation
- Paul Ryan's speech
-- "Right now 23 million men and women are struggling to find work. Twenty-three million are unemployed or underemployed."
-- 12.8 million are actually unemployed
Social security system:
-- pay as you go-->the people who are working pay for those who are retired
-- Older people staying in the workforce longer benefits younger
BLS --> A-15 Alternative Measures of Unemployment (gray areas)
(http://www.bls.gov)
-- biggest number is the U-6 15%
-- definition of U-6:
U + persons "marginally attached" to the labor force + total employed part time for economic reasons =
(to be marginally attached meaning: neither working, nor looked for work in the last four weeks, but persons who are available and wanted a job)
PT-ers prefer to work FT but can't due to economy; PT is considered employed
-- 2.5 million "marginally attached" there is 0.8 million discouraged workers
--> so most people are not discouraged in the 15%
-- Ryan got his 23 million from the U-6 number = 15%
Types of Unemployment (3)
1. Frictional Unemployment
-- Those unemployed because it takes time for employees and employers to find each other.
-- "making a match between a worker and employer"
-- What is needed for a good match:
-- May - graduating college - hard to get a job
-- Always exists, generally a good thing
-- Permanent feature of the macroeconomy
-- It serves a purpose
-- It's usually fairly short-term unemployment
2. Cyclical Unemployment
-- Unusually high unemployment that occurs due to a recession
--> When the economy recovers to a more normal level of production, cyclical unemployment goes away
-- can be short term or long term
3. Structural Unemployment
-- Tends to be long-term
-- Results from a fundamental mismatch between job skills and job openings
-- Often caused by technological progress--> replacing workers with machines
-- Having a job skill in a declining industry: self check out, print media, mail
-- Solution: job retraining programs, education
-- At any given time, observed unemployment may consist of:
frictional + structural (+ possibly cyclical) = TOTAL = 12.8 million
Natural rate of unemployment ( U*): long run average level of unemployment = U* ~ 5%
[ Theoretical concept ]
GDP: Gross Domestic Product
-- Value of a nation's total production
-- Real V. Nominal GDP
-- Real: adjusted for inflation
-- Nominal: we sum the quantity of output produced x current market price for all goods and services that are produced in the economy
-- Real GDP - measure holds price constant
Nominal GPD - Real GDP
Year 1 100 - 100
Year 2 120 - 104
Year 3 140 - 103
Nominal GDP - determine if it's good or bad. When it goes up or down, could be either way, it depends on why it's going up.
Real GDP - Year 1 -->2 we produced more things so it's a good thing; Year 2-->3 bad we're making fewer products
* Economists prefer real GDP - tells us how production is changing
Real GDP <-> Real Output
Business cycle:
-- A pattern of expansion and contraction of real GDP
-- These cycles are endemic to market economies
| | - (Trend)
Real GDP | | -
| - |
| - |
| - |
|________|____________
Time (100 years)
* First dotted line (above time) represents expansion up until it hits peak, then downturn to the trough, then recovery up back to peak or past (goes up and down)
Thursday, August 30, 2012
Econ 100 Week 1
Economy in the News
-- Consumer spending
-- Retail sales rise
Chapter 1:
Defining Economics
- economics examines how people / nations make choices in a world of scarcity
- something is scarce if choosing an alternative requires giving up another
- opportunity cost: what you give up to get something
Economic Way of Thinking
1. We emphasize opportunity costs when we analyze choices.
2. We generally assume that individuals pursue self-interest in making choices.
3. Choices are made "at the margin" (margin = extra)
What is Macroeconomics
- study of the economy as a whole
- total production of business firms (GDP_
- total consumption (spending) of all households
- unemployment, inflation
Chapter 3: (Three main topics : Unemployment, Inflation, GDP)
I. Unemployment
- definition: the unemployment rate is the % of the labor force that is unemployed
- labor force (LF): those persons who are employed (E) plus those who are unemployed (U)
LF = E + U ; includes only the non-institutionalized civilian adult population
- unemployed: people who are willing and able to work who are actively seeking employment but who do not have a job
- doesn't count as unemployed: not children, not people in jail, do have to account for retired people but not actively seeking work, volunteers, outliers
- unemployment rate
= U / LF
= U / (U+E)
- discouraged workers: give up looking for a job, not included in U; during a recession this # and % rate goes up
- labor force participation rate
= LF / "adult...population"
typically around 2/3 , 67%
- Bureau of Labor Statistics (BLS) www.bls.gov
July 2012 :
E = 142, 220, 000
U = 12, 794, 000
LF = 155, 013, 000
civ. adult pop. = 243, 354, 000
U / LF = 12.8 mil / 155 mil = 8.3% unemployment rate
LF / adult pop. = 155 mil / 243 = 63.7%
July Unemployment Rates:
Teen: 23.8 %
25+ : 6.9%
of the 25+ : highschool ed. only: 8.7%
some college: 7.1 %
bachelor's degree: 4.1%
Alternative Measures of Labor Utilization
Table A - 15
U-4 = measures total unemployment plus discouraged workers
U + discouraged workers / LF = 9.7%
U-6 = most comprehensive measure, includes discouraged workers and includes people working PT who want to work FT = 15%
-- Consumer spending
-- Retail sales rise
Chapter 1:
Defining Economics
- economics examines how people / nations make choices in a world of scarcity
- something is scarce if choosing an alternative requires giving up another
- opportunity cost: what you give up to get something
Economic Way of Thinking
1. We emphasize opportunity costs when we analyze choices.
2. We generally assume that individuals pursue self-interest in making choices.
3. Choices are made "at the margin" (margin = extra)
What is Macroeconomics
- study of the economy as a whole
- total production of business firms (GDP_
- total consumption (spending) of all households
- unemployment, inflation
Chapter 3: (Three main topics : Unemployment, Inflation, GDP)
I. Unemployment
- definition: the unemployment rate is the % of the labor force that is unemployed
- labor force (LF): those persons who are employed (E) plus those who are unemployed (U)
LF = E + U ; includes only the non-institutionalized civilian adult population
- unemployed: people who are willing and able to work who are actively seeking employment but who do not have a job
- doesn't count as unemployed: not children, not people in jail, do have to account for retired people but not actively seeking work, volunteers, outliers
- unemployment rate
= U / LF
= U / (U+E)
- discouraged workers: give up looking for a job, not included in U; during a recession this # and % rate goes up
- labor force participation rate
= LF / "adult...population"
typically around 2/3 , 67%
- Bureau of Labor Statistics (BLS) www.bls.gov
July 2012 :
E = 142, 220, 000
U = 12, 794, 000
LF = 155, 013, 000
civ. adult pop. = 243, 354, 000
U / LF = 12.8 mil / 155 mil = 8.3% unemployment rate
LF / adult pop. = 155 mil / 243 = 63.7%
July Unemployment Rates:
Teen: 23.8 %
25+ : 6.9%
of the 25+ : highschool ed. only: 8.7%
some college: 7.1 %
bachelor's degree: 4.1%
Alternative Measures of Labor Utilization
Table A - 15
U-4 = measures total unemployment plus discouraged workers
U + discouraged workers / LF = 9.7%
U-6 = most comprehensive measure, includes discouraged workers and includes people working PT who want to work FT = 15%
Wednesday, August 29, 2012
Jour 495 Week 1: Convergence
Durga: many arms, riding a tiger, has many weapons
Strengths of Various Media
Broadcast
- immediacy, simplicity, visuals
- context and exploring complexity
Online
- interactivity, search-ability, and multimedia
All encompass: being accurate, fairness
Convergence: of industries
- Telecom Act of 1996, opened up a lot of opportunities for consolidation & mergers
- FCC loosened ownership rules
How convergence impact journalists:
- newspaper beat reporters - asked to appear on local tv station as experts
- reporters may be asked to blog
- print reporters may be asked to shoot video
Opportunities:
- expands the way they tell stories
- more information
Challenges:
- must create multiple stories each time you file
- must get out news instantaneously
- rolling deadlines
- regular updates and breaking news
ESPN * converged media outline - each platform shares content in a different way
Interactivity:
- the ability for news consumers to talk back to the media
- news is a conversation, 2 way communication
- journalists needs to determine: what type of interactivity is more useful
Interactivity for journalists:
- used to making choices about facts to include, sources to interview, angles to take
- journalists must also assess the story and create a plan for multimedia and interactivity
poll v. discussion board
slideshow v. video package
pie chart v. list of percentages
Layers:
print - explains
multimedia - shows
inter-actives - demonstrates and engages
JOUR 480 Week 1: Stories for October
JOUR 480
Wednesday 8-29
Mine:
hawaiian fest, greek fest, invisible children
Stories for October
Day of the Dead
Books - Special Collection
Nadia Link
LB Marathon
entrepreneur class at lbcc
princess diana
breast cancer awareness
fall fashion
hawaiian fest/greek festival
little monsters @ the beach
international students
My ideas:
open mic night 7:30 poetry it's a grind coffeehouse october 1
dala at carpenter performing arts center october 3
farmer's market 46th and atlantic october 4
beach water
laugh factory college nights
first fridays long beach new music oct 5
Japanese Classic Car Show
Annual Japanese car show held in September at the Queen Mary Events Park in Long Beach.
- 7th: 2011 September 10
KJAZZ Blues Bash
Performers at this September 4, 2010 event at the Carpenter Performing Arts Center included the Keb Mo Band.
E Hula Mau
The annual E Hula Mau Hula Competition and Polynesian Festival usually takes place in August or September at the Long Beach Terrace Theater and Plaza.
- 17th: 2011 September 2-4
Long Beach Greek Festival
The Long Beach Greek Festival by the Sea has been held for more then 60 years. Activities include g Live Greek music, Greek dancing, Greek food, Grek wine, beer, and ouzo, carnival rides, church tours, and Greek cooking classes. Usually takes place over Labor Day weekend. Held at the Greek Orthdox Church, 5761 East East Colorado Street. A free shuttle usually transport attendees to and from the front parking lots (off 7th Street) of Cal State Long Beach.
- 63rd: 2012 September
- 62nd: 2011 September 3-5
- 61st: 2010 September 4-6
Walk for the Animals
- 2011 October 8, El Dorado Park, 9 am - 3 pm
Long Beach Irish Day
Annual Irish parade and celebration of Irish culture that takes place in Long beach, California on the first Saturday in October.
- 22nd: 2011 October 1 (Saturday)
- 21st: 2010 October 2
SoundWalk Long Beach
Annual event in the Downtown Long Beach Arts district featuring a display of sound artworks produced by local and international sound artists.
- 2011 October 1 and 8 (5 pm - 10 pm)
Belmont Shore Art Walk and Chalt Art Contest
- 2011 October 22, 9 am - 6 pm
Long Beach Oktoberfest
Annual beer and German culture event held over a two week period in September and october at El Dorado Park.
- 2011 September 23-October 2 (Friday-Sunday)
Southeast Asia Day at hte Aquarium
Annual Southeast Asian cultural festival at the Aquarium of the Pacific celebrating the cultures of Cambodia, Indonesia, Laos, Myanmar (Burma), Thailand, Vietnam, The festival features traditional Southeast Asian music, dance performances, crafts, and ethnic cuisine. For information about future events see the Aquarium of the Pacific Festivals Web page as October approaches.
- 7th: 2011 October 8 (Saturday)
- 6th: 2010 October 9 (Saturday)
Wednesday 8-29
Mine:
hawaiian fest, greek fest, invisible children
Stories for October
Day of the Dead
Books - Special Collection
Nadia Link
LB Marathon
entrepreneur class at lbcc
princess diana
breast cancer awareness
fall fashion
hawaiian fest/greek festival
little monsters @ the beach
international students
My ideas:
open mic night 7:30 poetry it's a grind coffeehouse october 1
dala at carpenter performing arts center october 3
farmer's market 46th and atlantic october 4
beach water
laugh factory college nights
first fridays long beach new music oct 5
Japanese Classic Car Show
Annual Japanese car show held in September at the Queen Mary Events Park in Long Beach.
- 7th: 2011 September 10
KJAZZ Blues Bash
Performers at this September 4, 2010 event at the Carpenter Performing Arts Center included the Keb Mo Band.
E Hula Mau
The annual E Hula Mau Hula Competition and Polynesian Festival usually takes place in August or September at the Long Beach Terrace Theater and Plaza.
- 17th: 2011 September 2-4
Long Beach Greek Festival
The Long Beach Greek Festival by the Sea has been held for more then 60 years. Activities include g Live Greek music, Greek dancing, Greek food, Grek wine, beer, and ouzo, carnival rides, church tours, and Greek cooking classes. Usually takes place over Labor Day weekend. Held at the Greek Orthdox Church, 5761 East East Colorado Street. A free shuttle usually transport attendees to and from the front parking lots (off 7th Street) of Cal State Long Beach.
- 63rd: 2012 September
- 62nd: 2011 September 3-5
- 61st: 2010 September 4-6
Griffith Park Free Shakespeare Festival
- Category:
- Performing Arts
- When:
- Thursday, July 5, 2012 7:00 pm -
Sunday, September 2, 2012 10:00 pm
Add to Calendar
- Where:
Independent Shakespeare Co
based on 61 reviewsGriffith Park
4730 Crystal Springs Dr
Los Angeles, CA 90027
(818) 710-6306
- How:
- Official Website
- Cost:
- Free
Street Food Cinema
- Category:
- Film
- When:
- Sunday, July 22, 2012 5:30 pm -
Saturday, September 1, 2012 10:00 pm
Add to Calendar
- Where:
Street Food Cinema
based on 41 reviews700 Exposition Park Dr
Los Angeles, CA 90037
(323) 254-5068
- How:
- Official Website
- Cost:
- $10.00
Walk for the Animals
- 2011 October 8, El Dorado Park, 9 am - 3 pm
Long Beach Irish Day
Annual Irish parade and celebration of Irish culture that takes place in Long beach, California on the first Saturday in October.
- 22nd: 2011 October 1 (Saturday)
- 21st: 2010 October 2
SoundWalk Long Beach
Annual event in the Downtown Long Beach Arts district featuring a display of sound artworks produced by local and international sound artists.
- 2011 October 1 and 8 (5 pm - 10 pm)
Belmont Shore Art Walk and Chalt Art Contest
- 2011 October 22, 9 am - 6 pm
Long Beach Oktoberfest
Annual beer and German culture event held over a two week period in September and october at El Dorado Park.
- 2011 September 23-October 2 (Friday-Sunday)
Southeast Asia Day at hte Aquarium
Annual Southeast Asian cultural festival at the Aquarium of the Pacific celebrating the cultures of Cambodia, Indonesia, Laos, Myanmar (Burma), Thailand, Vietnam, The festival features traditional Southeast Asian music, dance performances, crafts, and ethnic cuisine. For information about future events see the Aquarium of the Pacific Festivals Web page as October approaches.
- 7th: 2011 October 8 (Saturday)
- 6th: 2010 October 9 (Saturday)
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