Word: economisters
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Those who took AP Economics in high school call Ec10 a joke, but for those new to the field, it’s just the right pace of weekly problem sets and readings. The supplemental readings book—with articles from The Economist and other periodicals—serves as a reminder that what you learn in class actually has some grounding in the real world. And you won’t have to worry much about your grade; Ec10 offers a “Unit Test” program to take practice exams for bonus points. Combine that...
...Bidwills can bank on an additional $25 million or more in estimated annual profits (on top of the $16.5 million Forbes calculates the team made in 2004), according to Andrew Zimbalist, a sports-business expert and economics professor at Smith College. "I'm sure Bidwill is delighted," says the economist, but he notes that the extra income isn't a competitive advantage. First, other teams have similar extra income streams that new stadiums generate. Second, the Cardinals aren't going to be outspending anyone for talent because all NFL teams have a salary cap--$102 million in 2006, up from...
Greenspan's successor at the Fed, the academic economist Ben Bernanke, was in a quandary. Should he worry about growth or inflation? Inflation was creeping up, and yet the combination of higher interest rates and higher fuel prices threatened to depress consumption. Bernanke's apparent indecision unnerved the financial markets. By the time the slide in real estate prices signaled the onset of a full-blown recession, the Fed was badly behind the curve...
...financial-services group HBOS. The firm reckons the inheritance-tax threshold should be raised substantially, to $813,000, to bring it in line with the 179% increase in house prices over the past decade. "The threshold needs to reflect what happened in the property market," says Tim Crawford, group economist at HBOS. "A lot of people may not realize they are sitting on a gold mine," says Young of Scottish Widows, whose research suggests that more than 40% of those whose assets now would make their estates liable for inheritance tax don't even realize it. The firm earlier this...
...Shenzhen?and all of China. As the nation's economy roars ahead, growing 11.3% in the second quarter, more parts of the country will face the same challenges of rising costs, labor shortages and aggressive competition. Chinese employers "cannot forever have cheap labor," says Hong Liang, chief China economist at Goldman Sachs in Hong Kong. "They cannot just count on low-cost manufacturing." Soon the entire Chinese economy may be faced with the painful transition Shenzhen must confront today. Shenzhen is "trying to do what the country needs to do," says Chipscreen's Lu. Perhaps this hard-working, ever-mutating...