Category Archives: Teaching Economics

The Statistical Analysis of Policy Rules

My teacher, colleague, and good friend Ted Anderson died this week at the age of 98.  Ted was my Ph.D. thesis adviser at Stanford in the early 1970s, and later a colleague when I returned to teach at Stanford in … Continue reading

Posted in Teaching Economics

The Staying Power of Staggered Wage & Price Setting in Macro

The new Handbook of Macroeconomics is now in production as all 34 chapters have been submitted (by 74 different authors).  It will be out later this year. Harald Uhlig and I edited the book, and we each contributed a chapter. My … Continue reading

Posted in Teaching Economics

Trying Out a New Video on the Power of Markets

I always enjoy teaching the introductory economics class—we call it Econ 1 at Stanford— and I’m teaching the course again this winter. Part of the fun is trying out new teaching ideas. During the first couple of weeks I emphasize the … Continue reading

Posted in Teaching Economics

Two Good Doses of Basic Economics

The Wall Street Journal asked, 50 “friends–from Gillian Anderson to Nell Zink–to name their favorite books of 2015.” I named two and here’s why: At a time when many politicians, academics and media commentators are focusing on income inequality, Thomas Sowell’s “Wealth, … Continue reading

Posted in Teaching Economics

The Great Book on Inequality and Economic Policy Thanks to Gary Becker

The year 2015 was another big year for inequality books: Inequality: What Can be Done? by Anthony Atkinson, The Globalization of Inequality by François Bourguignon, Wealth, Poverty and Politics by Thomas Sowell. And now comes another: Inequality and Economic Policy: Essays … Continue reading

Posted in Teaching Economics

The Raisin Case: A Breeze not a Wind of Economic Freedom

The famous raisin case officially closed last week. As part of an old and ongoing government program to intervene in the raisin market to support the price, the government tried to take raisins away from a California raisin grower, Marvin … Continue reading

Posted in Regulatory Policy, Teaching Economics

Stanford’s Economics 1 Course Open and Online

This summer Stanford will be offering an open online version of my on-campus course Principles of Economics.  People can find out more and register for the course, Economics 1, on Stanford’s free open on-line platform. The course starts on Monday (June … Continue reading

Posted in Teaching Economics

Central Banks Without Rules Are Like Doctors Without Checklists

Recent proposals for policy rules legislation have led to a fascinating replay of issues that have long been at the heart of the rules versus discretion debate. Larry Summers raised one in a debate between him and me at the … Continue reading

Posted in Monetary Policy, Teaching Economics

Wanted: A New Handbook of Macroeconomics

The first volume of the Handbook of Macroeconomics, edited by Michael Woodford and me, was published in 1999 in the midst of the Great Moderation.  It still ranks first in total downloads of all economics books according to Research Papers in … Continue reading

Posted in Teaching Economics

Inequality Conference in Memory of Gary Becker at Stanford’s Hoover Institution

Last Thursday and Friday the Hoover Institution at Stanford hosted a wonderful Conference on Inequality in Memory of Gary Becker. John Raisian and I opened the conference commenting on the appropriateness of both the venue and the topic: Gary spent … Continue reading

Posted in Teaching Economics