Word: feldstein
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Judith A. Li, an assistant professor of economics who teaches Ec 10 along with Baker Professor of Economics Martin S. Feldstein '61, says that despite the class's large lecture size, most of the basic skills introduced in Ec 10 are taught in smaller sections of about 20 students...
...really enjoy the lectures," Leah E. Wahba '04 said. "It's an honor to be in Marty Feldstein's class because he has so much extensive experience in the field of economics...
Professors still sometimes turn into presidents, but not at Harvard. (The last two to have a shot were Baker Professor of Economics Martin S. Feldstein '61 and Andrus Professor of Genetics Philip M. Leder '56--who lost out to Rudenstine.) Wellesley plucked Diana Chapman Walsh from the School of Public Health faculty to serve as its leader...
...biggest reason for increasing productivity, Feldstein says, is, of course, the computer and particularly the Internet. Wyss cites a little-noticed benefit: with computers, managers "can get a high school graduate to do the work a college graduate used to do." One example: a mortgage-loan applicant was once interviewed by "a trained loan officer with a college degree" who probably referred the application to a loan committee, which might have given an answer in two weeks. Today "you'd be sitting across the desk from somebody who was probably a teller two weeks ago, and she's reading...
...invest, the U.S. would get hit with a double whammy. It would lose some of the investment that has been keeping the boom going, and the dollar's value would fall, raising the cost of imports and the many U.S. products that are assembled partly from imported components. Feldstein figures a 15% drop in the dollar's value would translate into a two-percentage-point increase in the U.S. inflation rate. That, he fears, would be enough to persuade the Fed to resume a policy of anti-inflation interest-rate hikes...