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Macroeconomic Patterns and Stories By Edward E. Leamer,

  • Title: Macroeconomic Patterns and Stories
  • Author: Edward E. Leamer
  • ISBN: 9783540463887
  • Page: 306
  • Format: Hardcover
  • The story of this book began with my dif cult transition from teaching international economics and econometrics in Economics Ph D programs at Harvard and UCLA to teaching in the MBA programs at the Anderson School at UCLA On the basis of 20 years of apparent teaching success in Ph D education, I arrived at the Anderson School in 1990 with a self image as a star teacheThe story of this book began with my dif cult transition from teaching international economics and econometrics in Economics Ph D programs at Harvard and UCLA to teaching in the MBA programs at the Anderson School at UCLA On the basis of 20 years of apparent teaching success in Ph D education, I arrived at the Anderson School in 1990 with a self image as a star teacher, but I was greeted with highly disturbingmediocreteachingevaluations Facedwithadatasetthatwasinconsistent with my view of reality, I did what analysts usually do I formulated a theory why the data were misleading Here is how I thought about it Two aspects of the course content and amu ment drive numerical course evaluations If you rank courses by the average of the content score and the amusement score, then the component that can be measured most accurately will determine the ranking Do you understand why It is what eraging does it eliminates the noise Suppose, for example, that a student cannot tell anything about the content, and the content score is simply a random number, varying from student to student Those random numbers will average out across students to about the same number for each course As the average course content score is about the same for every course, it is the amusement score that will drive the rankings.
    Macroeconomic Patterns and Stories The story of this book began with my dif cult transition from teaching international economics and econometrics in Economics Ph D programs at Harvard and UCLA to teaching in the MBA programs at the An

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    1. After the introduction, Part II explains the key macro economic variables for the US in separate chapters Part III comes in 4 subparts where the first one on Recession Symptoms explains the concept of idleness and key indicators of recessions In sub part Recession Stories deals with unemployment and the concept of accelerators during the business cycle, based on the concept of abnormal contributions of growth In sub part Recession Early Warning Signs Leamer explores possible leading indicators T [...]

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