Macroeconomics

The CARES Act, Part 1

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This bill is being referred to as a stimulus package or a “bailout”, but I think it’s more helpful to think of it as government spending replacing private consumer spending. When the government is enacting social distancing measures, even enforcing “shelter-in-place” policies in many places, that is going to affect consumer spending immensely. All of a sudden, no one is flying, no one is eating in restaurants, no one is going to the movies, etc. Because the government is telling people not to do these things, does it follow that the negatively affected companies deserve to get some of their lost revenue replaced with government funds?

Unemployment

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If you don’t think about it, your first instinct may be that anyone without a job is unemployed. If you do think about it, it gets complicated quickly. Okay, the concept is still simple, you just have to divide the the number of “unemployed” by the “labor force”, and that gets you the unemployment rate. Defining those terms is where it gets tricky.

Remote teaching Economics

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Since this has been my approach for so long, one of my first reactions to big economic events is imagining how it fits into my big-picture plan for the semester—how can I use this as a teaching tool, and how can I explain it using terms and concepts we’ve already learned? Do I need to tread water and spend time in related areas so we have our bases covered before the next pitch?

How a dodgeball tournament explains the game of life

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The rules of the game matter, because people respond to incentives. This lesson is a breeze to teach in Economics class, but it’s essential to survival as a P.E. teacher. All teachers have to learn how to adapt on the fly, but the physical aspect of P.E. gives it a sense of urgency. Games can break down quickly, and if you don’t recognize it and know how to fix it, you’re gonna have a bad time.