Curriculum Vitae 

Personal Information




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.

My Spring 2018 office hours on the Queens, NY, St. John's campus are Monday and Thursday, 12:30 to 2pm, St. John's Hall, Rm B17, and by request.




St. John's University, Spring 2018

College of Professional Studies, ECO 1001, Principles of Economics I: W: 10:40am - 1:30pm, SJH 207


     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

     "Conflicts in the calculation and use of the price index", Jany-Catrice, CJE, October 2017.

     "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



St. John's University, Spring 2018

Tobin College of Business, ECO 1302, Syllabus; M, Th; 9:05 - 10:30am, SJH 310 

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

    Hayek v. Keynes "ideal-types

     Potential group presentation topics

     In-class exercise for On the Waterfront.


       "Spotify has changed how people listen to music. To make money it may have to upend the industry yet again" Economist magazine, Jan. 2018

       "All the President's Friends: Political Access and Firm Value" NBER and CATO, June 2017

      "In AT&T deal, government action catches up with Trump rhetoric" NYT, Nov. 2017

      "What if large tech firms were regulated like sewage companies?" Economist, Sept. 2017

      "Big technology firms are newly in the hot seat at home" Economist, Sept. 2017

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

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


         Group presentation requirements and suggested topics

          Homework assignments


         US GAO Community Banks and Credit Unions: Regulator could take additional steps to address compliance burdens 2018

         Economist The Santander Experiment: Europe's banking champion took a unique approach to globalization. Has it been vindicated? 2018 

          James Dorn Fed Needs Rules to Avoid Financial Instability IBD Weekly, July 2017

          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 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.

          S.M. Miller Recourse Rule, Regulatory Arbitrage and the Financial Crisis SSRN 2017

           Economist Simple rules may be best for monitoring banks 2012


         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 


           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; 10:40am - 12:05pm, MAR 326, Spring 2018

      Syllabus     Homework One    Homework Two     

      In-class exercise on Robin Hood   In-class exercise on There Will Be Blood


     Lecture Notes  theory-antiquity  feudalism  mercantilism  industrialization  modern 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


     "Britain Plans to Display Tapestry After 950 Years" (about William and the Norman Conquest circa 1066 CE, an early example of state-building), NYT, Jan. 2018

     "An Anglo-Irish Cicero" (on Edmund Burke, 1730-1797), Alan Ryan, New York Review of Books (NYRB), Jan. 2018

     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)

     "The first victims of the first crusade (1096-1099)", NYT, 2015.

     Great Myths of the Great Depression, by Lawrence Reed

     "When Government Drew the Color Line", NYRB, J. DeParleFebruary 2018

     "Trade within Africa: Tear down these walls", Economist 2016

      Map of world human migrations and from hunter-gatherers to farming, NYT March 2018


Industrial Organization

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


      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


           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



Environmental Economics and Policy  



     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