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Here is information on the courses I teach, some lectures that I enjoy giving upon request, and information on new courses that I have prepared

 

Class participation opportunity: Attend the lecture with Prof. Russel Sobel on "Economic Freedom, Entrepreneurship and Prosperity" on Sept. 19, 6:30-8:30pm SJH 306, and report to the class the main points of the lecture.  Here is the flyer for the event. 

 

Macroeconomics

St. John's University, Fall 2017

College of Professional Studies ECO1001 and Tobin College of Business ECO1301, Principles of Economics I, Syllabus 

     Mankiw's Principles of Macroeconomics, 6th edition

     "10 Principles" of economics, from Mankiw, Chpt. 1  

   "Economists Agree," from Mankiw's Blog, to be used in group project and presentation (see syllabus)  

     

      Hayek v. Keynes "ideal-types

      Regulatory Capture Theory 101 from the Wall Street Journal, here's the direct link to the WSJ article

     Lecture note on "the knowledge problem", from Hayek 1945 and as built-up subsequently by other economists

     "Gross Domestic Product- an Index of Economic Welfare or a Meaningless Metric?," Robert Higgs 

    US Government Accountability Office (GAO) report on Social Security bancruptcy  

     F.A. Hayek 1945 Use of Knowledge in Society American Economic Review

     Article, "Reversing Worrisom Trends: How to Attract and Retain Investment in a Competitive Global Economy," Daniel Ikenson

      Annual report on World Economic Freedom

      George Selgin youtube A Century of Failure: Why it's Time to Consider Replacing the Fed

       Quantitative Easing Explained youtube 

      Why Smaller is Better for Europe Jolien, Foundation for Economic Education (FEE)

        

     Economics of disasters  Healthcare intervention effects 

     Example on bond classes, risk by type and time 

     Private, Public, Collective Goods typology   

     Lecture note on "the knowledge problem", from Hayek 1945 and as built-up subsequently by other economists

      Economic role for government

      Reform of macroeconomic policies in the USA to minimize business cycles, reduce opportunities for cronyism and increase economic growth and social mobility

     Lecture note describing the tax-code incentives in the USA which prioritizes debt capitalization over equity, creating financialization of the economy.

     Lecture note on the political economy of international banking

     New York Times piece on completion of negotiations for the Trans-Pacific Partnership trade agreement showing continued protectionism for agricultural products and pushing free-trade in manufactored products for decades into the future

             

Microeconomics 

St. John's University, Fall 2017

College of Professional Studies, ECO1002, Syllabus; M, Th; 3:25 - 4:50 pm, SJH 205 

   "10 Principles" of economics, from Mankiw, Chpt. 1  

    Hayek v. Keynes "ideal-types

     Potential group presentation topics

      Written assignment instead of class attendence on October 16, 2017

    

      "We could have had cell phones 40 years earler" Thomas Hazlett, FEE, June 2017

      "Trump names net neutrality opponent as FCC chairman," UPI, Jan. 2017  

      "Amazon offers to settle EU probe over E-book contracts" Bloomberg, Jan. 2017

      "For Tax Reform Lessons, Congress Needn't Look FarNYT, Sept. 1, 2017

      

      Private, Public, Collective Goods typology   

      Economic role for government

 

    Coase 1937 Nature of the Firm      Kreuger 1974 The Political Economy of the Rent-Seeking Society      Hayek 1945 Use of Knowledge in Society 

    Rizzo 1978 "Praxeology and Econometrics: A Critique of Positivist Economics" in Spadaro, editor 1978      Kennedy 2011 A critical review of "against intellectual monopoly" 

    Vassallo 2017 Can One (Ever) Accurately Define Markets?

   

    Example on bond classes, risk by type and time 

    Regulatory Capture Theory 101 from the Wall Street Journal, here's the direct link to the WSJ article

   Lecture note on "the knowledge problem", from Hayek 1945 and as built-up subsequently by other economists

    Lecture note on the Marginal Revenue curve

    Lecture note on Intellectual Property Rights (IPR) in neo-classical economics

    Lecture note on First Mover Advantage and rent-seeking

     Lecture note describing the tax-code incentives in the USA which prioritizes debt capitalization over equity, creating financialization of the economy.

 

 

Money and Banking

 St. John's University, ECO 2309, T, F 9:05 - 10:30 am, SJH 215, Spring 2017

         Syllabus     

         Group presentation requirements and suggested topics

          Homework assignment

          Essay due at the final exam, to make up for the snow storm class cancellation on March 14, 2017. (There will be no "snow day" class on May 2, students are to use class time to write the essay.)  

 

          Stealing Deposits: Deposits, Risk-Taking, and the Removal of Market Discipline in Early-20th Century Banks, Cato Institute, 2016

        Tyler Cowen Break up the Big Banks? Here's an Alternative, New York Times, 2012

          "The Trouble with Central Banks," James A. Dorn, Investors Business Daily Aug. 2016   

          "Hands off the Bank of England: Politicians who casually attack the central bank's integrity are playing with fire" Economist magazine Oct., 2016

          "The slumps that shaped modern finance", Economist magazine April 2014 

          "How the IRS Could Cripple Cryptocurrency" Reason magazine Jan. 2017    

            James Forder "What was the message of Friedman's Presidential Address to the American Economic Association?" Cambridge Journal of Economics  2017  

          Benjamin M. Blau Lobbying, political connections and emergency lending by the Federal Reserve  Public Choice 2017.

              

 

         FDIC Final Ruling on Liquidity Coverage September 9, 2014                           

          Link to Vera Smith (1934) The Rationale of Central Banking

         Milton Friedman (1962) The Control of Money in Capitalism and Freedom

         F.A. Hayek (1945) Use of Knowledge in Society American Economic Review 

          F.A. Hayek (1977) Towards a Free Market Monetary System in Good Money, Part II, The Collected Works of F.A.Hayek

          Murray Rothbard (1995) Austrian Definitions of the Money Supply

          George Selgin youtube A Century of Failure: Why it's Time to Consider Replacing the Fed

          Quantitative Easing Explained youtube

          D.I. Prychitko (2010) Competing explanations of the Minsky moment: The financial instability hypothesis in light of Austrian theory Review of Austrian Economics 

           "Time to Bet on the Bitcoin?", Wall Street Journal

 

           Lecture note describing the tax-code incentives in the USA which prioritizes debt capitalization over equity, creating financialization of the economy.

          Graphic showing historical development of the "dual banking system" in the USA 

         Example on bond classes, risk by type and time   

         Example difference between typical corporation and commercial bank Balance Sheets         

         Classification of risk categories and risk mitigation in bank lending    

         Graphic on "Living Wills" and related hybrid instruments for "bail-in" instead of "bail-out"       

          Example commercial bank Balance Sheet

          Example central bank Balance Sheet

 

 

Economic History

St. John's University, Tobin College of Business, ECO 1326, Economic History of the Western Community, M, Th; 10:40 am - 12:05 pm, SJH 309, Spring 2016

      Syllabus         Homework       Quiz  

     Lecture Notes  theory-antiquity  feudalism  mercantilism  industrialization  moden economy  financial crisis of 2008  social structures of modern capitalism

    Presentation requirements and some suggested topics 

     List of vocabulary words and concepts used in class

     Critique of Woody Holton's "Did Democracy Cause the Recession that Led to the Constitution?"

     What Don Quixote had to say about the Social Relations of Production in pre-history

     Documentary on Lorenzetti "Allegory of Good Government and the Effects of Good and Bad Government" (1337-1340)

     Great Myths of the Great Depression, by Lawrence Reed

 

Industrial Organization

St. John's University, ECO 2327 Development of American Business Enterprise 

      Syllabus

      Homework assignment      

      Potential topics for the class presentation

      Historical context of US industrial development

Readings (in addition to texts):

Coase 1937 Nature of the Firm      Kreuger 1974 The Political Economy of the Rent-Seeking Society

Armentano 1978 "A Critique of Neoclassical and Austrian Monopoly Theory", found in Spadaro, editor 1978

Friedman 1962 Monopoly and the Social Responsibility of Business and Labor

Weber 2010 On Privatizing the MTA 

Additional Resources:

Journal of Antitrust Enforcement

Economic Geography (Journal)

Richman 2009 Intellectual Property versus Real Property

Van Tuinen 2011 The Ignored Manipulation of the Market: Commercial Advertising  and Consumerism Require New Economic Theories and Policies in Review of Political Economy

The Pill Whose Price Went Up 5000%? It costs 5 Cents in India, Alex Tabarrok, Sept 25, 2015 

World Trade Organization anti-dumping portal

US Department of Justice Antitrust Division website    

            

 

International Economics

            Syllabus

           Timeline showing emerged and created institutions influencing the world economy

            A brief summary of trade theories from comparative advantage to intra-industry trade

            Vocabulary list of terms and concepts used in international economics 

 

An Introductory Course on Cultural Economics for Non-Economists

          Syllabus 

 

Environmental Economics and Policy  

     Textbook

     Syllabus

     Potential research topics

Nelson Economics and Environmentalism: Belief Systems at Odds

Weber Is Environmental Quality a Luxury Good? 

Dyson The Question of Global Warming

Hahnel Left Clouds Over Climate Change Policy

 

 

Lectures in Austrian School of Economics

      Lecture notes  Introduction to Austrian School  Powerpoint  (Notes and Powerpoint include an Austrian School explanation for the 2007-2009 financial crisis and New Normal economic growth after the Great Recession) 

      I present this lecture when asked to as well in order to give people alternative viewpoints from the mainstream texts on micro- and macroeconomics and causes and fixes for economic recession.

     This is something I put together to explain the classical stadial theory of history from hunter-gatherers through capitalism using time-preference, Austrian capital theory and the Hayekian "triangles" representing stages of production. This model can help explain the investments in society and resulting standards of living.

 

Lectures in Cultural Economics         

The Political Economy of Cultural Economics and seven page overview of arts policy, both in theory from the standpoint of policy and in practice in the US today