Tuesday, January 25, 2011

Post 18, Twitter Man

Dear Jerry,
Economic Education Web is a very vaild resource and has a very large supply of terms and concepts that we have been using over the course of semester. This site easy to use but also very informing and has terms that give you the information you need without excess useless information; it is to the point. Also the Economics Guides help by telling about Shmoop, which is an extremely effective and student friendly tool. It features all of the major topics we have learned about in the economics course and also covers some topics even further. The topics are separated into easy to navigate sections and labeled along with pictures, making it as simple as can be. Finally Free Economic Data Economic, Financial, and Demographic is a resource that is particularly helpful because of its search feature. On the midterm especially, where there is a time limit for how long you have to take the exam, this search bar is efficient and effective. These terms are just as useful as the terms in the first site, but the search feature makes them easier to access. They can both be used hand in hand.
                                                                                                                                       Sincerly Seth.

Post 22, 15 Facts

1.       Economists consider an unemployment rate of about 5 percent to represent full employment.
2.       Unemployment that occurs as a result of changes in technology or the way the economy is structured is known as structural unemployment.
3.       The data from the survey is analyzed and published by the Bureau of Labor Statistics.
4.       Anyone who is not classified as either employed or unemployed is considered not a part of the labor force.
5.       The unemployment rate is the percentage of people in the civilian labor force who are unemployed.
6.       In 2000 some 1.1 million people were marginally attached workers.
7.       Discouraged workers are a subset of marginally attached workers.
8.       Underemployment represents wasted resources and lost output.
9.       This category includes people who have decided to leave one job to look for another, as well as new entrants and re-entrants into the labor force.
10.   Regular fluctuations in jobs due to regular occurrences such as holidays, school schedules, and industry production schedules are called seasonal unemployment.
11.   Income inequality in the U.S. had become greater than in any other large industrialized country.
12.   The consumer price index measures changes in price levels.
13.   Lorenz Curve illustrates the amount that a nation's distribution of income varies from a perfectly proportional distribution of income
14.   Single-parent and single-person households tend to have lower incomes than the households of married couples.
15.   Analysts cite changes in the labor market as one cause of the income gap.

Post 24, 4 tpe of unemployment

Frictional: A teacher who has been working in a elementary school who makes about 50,000 a year is gong to quit because he/she is going to get a job as a college professor for about 100,000 a year.

Structural: A student who graduated from medical school and is now a Medical Doctor but there are no doctor positions open around, so they have to now work at a construction company.

Cyclical: Since the economy is so bad there are no jobs for anyone so if you have a job your lucky to do so.

Seasonal:When you are a lifeguard in the summer you have a job,but since beaches are closed in the winter there s no need for a life guard.

Tuesday, January 11, 2011

Post 10, Reading on Maceroeconmoics

Macroeconomics studies national economies, concentrating on economic growth and how to prevent and ameliorate recessions. Also macroeconomics is the economy's wide issues such as unemployment, inflation, and economics growth/development. It is the study of economics from a broad perspective of the resources and factors of production in an economy. In this reading it described some of these factors very well, I feel as if i have grasped this concept.